Times sure are different as I write this year’s post from a quiet room of my home. It’s been over a month since most of us began working from home. As I reflect on 2019, it was full of Insurance Cloud Service hackathons, the rollout of new on-demand products from carriers like SOMPO and Duuo (The Co-operators). We also added Microsoft as a distribution partner with AXA XL, we launched Slice Mind, and added another Fortune 500 company as an Insurance Cloud Services partner.
While we’ve been working from home we launched a product for Duuo last week (their fifth), implemented a major upgrade in Thailand for SOMPO and Line, and went live with our first large agency, AHERN, with AXA XL. We added a soon to be announced distribution channel for our cyber insurance product. We also ran our first remote hackathon and launched Slice from Home.
This year started as a 200-meter sprint, but quickly slowed to a four-mile run, and we were faced with some tough decisions. One of the most difficult things to do as a CEO is to let go of people who have contributed significantly to the company. The current environment has impacted our business and we were faced with having too many resources. We had to let go of 28 (about a third) of our colleagues, as well as our 13 co-op students.
We have an incredibly strong team that will continue to deliver for our existing large enterprise partners and our prospects going forward. As we work closely with the industry through this process, it is clear that the need for digital transformation is ever apparent, and that new insurance services are needed to protect workers and individuals going forward. We look forward to helping carriers achieve the transformation they’re striving for.