The original vision for aclaimant was to find a mobile app solution to dramatically shorten lag time reporting period and reduce the ultimate cost of a claim
Why were so many industry groups taking so long to report an incident?
Why wasn’t there a tool of engagement that recognized the importance of winning the race to better data?
Why isn’t access to the information supply chain available in real time?
The transformation of Aclaimant during the last 24 months went from being a near-sighted mobile application to a far-sighted underwriting and risk mitigation platform. If we took a vision acuity test and evaluated the clarity of our mission, we needed to focus beyond a product offering. Our focus needed to continually offer greater utility to an employee, employer, carrier, agent and any relevant party in the incident reporting process. We applied our lessons learned and put the blinders on in order to set a new standard for providing a better, faster and smarter solution to the incident reporting process.
You will notice a common theme in each of the preceding blogs; Start with WHY. In my version of clever, I want to address the Y in the word YOU, which technically also starts with Y. The YOU in this blog will explain how tunnel vision can be a blessing or a curse. But whether you are the employer, employee, agent/broker/producer or insurance carrier it is all about YOU when it comes to making a choice or taking a chance.
I speak from a very unique perspective when it comes to the term tunnel vision and how it applies to my professional and personal life. From a professional level, I have had the good fortune to learn from some of the best teachers within and outside of the academic world. In the professional world, tunnel vision is often revered in terms of perseverance, dedication, discipline and commitment to excellence. It can also be considered rigid, closed minded and unwilling to be open to new ideas.
Tunnel vision in the business environment can fall prey to the“ it ain’t broke so don’t fix it,” or the “you can never get fired hiring IBM” mantra.
It is much safer for the underwriter/actuary/carrier to defend the tenets of actuarial science. Actuarial science quantifies how past performance is indicative of future performance a/k/a tunnel vision.
The Aclaimant vision of winning the race to the data respects the benefits of using a rear view mirror but not at the expense of ignoring real time technology tools with behavioral science techniques. It can be very frustrating to look across the boardroom table and realize the nearsighted decision maker is not always qualified to be a visionary.
That leads me to the personal side of tunnel vision. I can’t begin to count how many times my father would say, “your health is your wealth.” He would remind everyone of that fact. We all know its true but until it happens to a friend or family member it doesn’t seem real. I have had the privilege of being introduced to Rebecca Alexander, her family and friends.
Rebecca www.rebalexander.com- Author of Not Fade Away personifies the courage of what it is like to deal with a degenerative eye disease called Retinosa Pigmentosa Ushers III syndrome. She is not that unique when it comes to making a choice or taking a chance except for the fact that she does have the physical version of tunnel vision. It might even be safe to say that she may have some things in common with actuarial science when it comes to her past performance accomplishments being indicative of her future performance.
Rebecca granted me permission to quote a couple excerpts from her book and the lesson learned is that we have to take the chance to make a choice to look ahead. I relate to this quote because the time is now when she states,
"Having something like this is a constant reminder. It's sort of a little bit of fire under me to remind me that I have to live my life now, and I can't sit around and think about all the reasons why I can't do something or make up excuses. This is the time, right now."
Only to be followed up with her quote of:
"When people often say to me, 'Oh my gosh you only have 10 degrees of vision. I'm so sorry,' I feel like, 'Oh my gosh I have 10 degrees of vision that's amazing!' I was told I would be completely blind by 30. I think we have a tendency to, especially in this culture, to see all the things we don't have as opposed to the things we do have," said Alexander. "We're constantly bombarded with messages that we're not smart enough, we're not rich enough, we're not pretty enough, so… I encourage everybody to focus on the things we do have that we are capable of, as opposed to the things we're not, because that doesn’t help us in any way."
So what was originally intended to illustrate the vision of Aclaimant is more accurately a reflection of the inspirational and unapologetic voice of Rebecca Alexander and others who decided to create their own choice or chance playbook.
The railroad industry made a choice and decided that they were the only mode of transportation until the automobile and airline industry took a chance to see the possibilities of what can be.
Welcome to the Aclaimant vision on how we plan to change the culture of the insurance industry.