|We’re in exciting times. Technology enabled innovation is rampant in every industry and the Surety industry is no exception. We see these innovations as the great equalizers - the game changers that put brokers and carriers on the same playing field as their larger peers. Furthermore we believe the small players have an advantage.
The following is an extract from our blog on “How Being Small is in Fact a Competitive Advantage”. The business world, and so the Surety business, is being bombarded with elaborate and somewhat daunting predictions of impending game changers. Digital Transformation, Big Data, Artificial Intelligence (AI), Intelligent Interfaces, the Internet of Things (IoT), Cybersecurity, Blockchain are but a few examples. The stark reality is that none of these so-called game changers are possible without fundamental evolution and automation of some of the basic “stuff” on top of which these game-changers will sit.
Advantages of small organizations include agility, transparency, entrepreneurial culture, client and market intimacy which all contribute to shorter decision making cycles and faster seizing of opportunities.
The Evolve, Master and Repeat cycle is the best approach to successful change. Small organizations can execute that cycle with remarkable speed and effectiveness.
In future updates, we’ll share insights on how to select long term technology vendor partners and what new cool “stuff” is showing up in the Surety world. In the meantime, please download and read the full report.
Give us a call or send us an email with your questions or if you are curious about what solutions Xenex Enterprises Inc. has to offer as a disruptive technology equalizer. We’re Surety focused. Our xxxMaster™ solutions are designed to solve pure surety challenges and we’d be delighted to share our 18 + years of surety experience with you.
Vice President and Business Intelligence Practice Lead
Xenex Enterprises Inc.
P.S. One interesting technology for the Surety Industry to watch is
Blockchain – it strengthens the key attributes of authenticity, authorization and immutability of both users and the surety bond documents. Download the PowerPoint Presentation for an introduction to the topic.