{"id":5882,"date":"2023-07-06T10:47:04","date_gmt":"2023-07-06T09:47:04","guid":{"rendered":"httpss:\/\/www.advantagego.com\/?p=5882"},"modified":"2025-03-11T12:42:28","modified_gmt":"2025-03-11T12:42:28","slug":"advantagego-ecosystem-event-something-exciting-and-new","status":"publish","type":"post","link":"https:\/\/www.advantagego.com\/en-us\/content\/advantagego-ecosystem-event-something-exciting-and-new\/","title":{"rendered":"Something exciting and new \u2013 AdvantageGo hosts an event on their new Ecosystem"},"content":{"rendered":"\n

Partners, clients, prospects joined AdvantageGo for a glamorous evening event in London to celebrate the AdvantageGo Ecosystem.<\/strong><\/p>\n\n\n\n

\u201cSomething exciting and something new\u201d was how AdvantageGo\u2019s Global Business Leader Ian Summers introduced a recent evening event held to promote AdvantageGo\u2019s expanding Ecosystem.<\/p>\n\n\n\n

It was an accurate description for something that is quite rare in the insurance technology<\/a> market, bringing together service providers that might otherwise be regarded as competitors, instead collaborating as partners, building something bigger than the sum of its parts, to dramatically benefit their clients.<\/p>\n\n\n\n

AdGo hosted its Ecosystem event at a rooftop penthouse at the iconic Four Seasons Hotel, former home of the Port of London Authority, Trinity Square, overlooking the Thames, the heart of the City of London, and its competitive landscape of London market insurance companies.<\/p>\n\n\n\n

The evening event included keynote presentations, a panel discussion between several alliance leaders, and interactive demonstrations to experience multiple applications, integrations and data of the AdvantageGo Ecosystem in action.<\/p>\n\n\n\n

Summers\u2019 welcome was followed by a presentation screening and words from Bob Riddler, AdvantageGo Account Director, responsible for managing partnerships and alliances. Market complexity has driven companies to search out specialisations, Riddler emphasised.<\/p>\n\n\n\n

\u201cYou end up with lots of specialisations across the industry, and it’s particularly true in the technology area,\u201d he said. \u201cWhat that means is that you end up with individual solutions; they’re all very good at what they do; but none of which are particularly good at talking to each other or how they pass data between each other.\u201d<\/p>\n\n\n\n

This situation leaves insurance companies responsible for potentially thorny issues of integration between myriad systems, an unacceptable situation for service providers to place their client in, Riddler emphasised, not least because it leads to old-fashioned \u201cbuild or buy\u201d debates within insurance companies.<\/p>\n\n\n\n

\u201cIt’s necessary for us to find a way to address the complexity, to address the fragmented landscape, and to be able to go to clients and say: \u2018Don’t worry, we have your back, and this is the integrated solution,\u2019\u201d he added.<\/p>\n\n\n\n

Summers was joined on a market panel by Greg Gaydos, Senior Business Development Executive, Zywave; Simon Whittle, Senior Vice President, Global Product Development, ACORD Solutions Group; Neil Williams, Business Architecture and Analysis Team Lead, MS Amlin; and Mark Geoghegan, host of the Voice of Insurance podcast, asking the questions.<\/p>\n\n\n\n

Williams at MS Amlin underlined market-wide progress in recent years, including collaboration between Lloyd\u2019s and ACORD on standards, and the London Market Group\u2019s Data Council and its Process, Roles and Responsibilities (PRR) market consultation.<\/p>\n\n\n\n

\u201cNow is the time for solution integrators to come to the table, and try to pull together best of breed vendors,\u201d Williams said, noting that many of the specialist vendors are small firms.<\/p>\n\n\n\n

\u201cIf the ecosystem can be an incubator for niche players, we can look at pulling together \u2018best of breed\u2019 across the whole value chain,\u201d said Williams. \u201cWe\u2019ve found that going from analogue to digital, to hybrid, and back to digital, doesn’t work as a customer journey \u2013 you need to go digital, through and through. So, pulling all of those APIs together is a very compelling proposition, compared to what we’ve got at the moment.\u201d<\/p>\n\n\n\n

Gaydos drew a neat analogy with consumers hiring contractors for home improvement, and expecting them to work together rather than tread on each other\u2019s toes.<\/p>\n\n\n\n

He said: \u201cIf you hire contractors to fix your kitchen, you don’t want the plumber fighting with the electrician, right? We collaborate really well together, and ultimately, all you care about is having a kitchen where the dishwasher is where it should be, and your fridge fits in the hole that the contractor made. It doesn’t always work that way, but that’s the goal.\u201d<\/p>\n\n\n\n

The ecosystem will drive greater consumer choice, with the client the ultimate decider of which applications to choose, he underlined.<\/p>\n\n\n\n

\u201cPart of the thought process is to give the end user the choice to go with me or with someone else. At that point, it becomes a choice and not a competition. There could be conversations about \u2018why us versus why someone else?\u2019, but it\u2019s ultimately the choice of the buyer, if they have a preference,\u201d Gaydos added.<\/p>\n\n\n\n

Whittle noted the market\u2019s progress, suggesting electronic placement will be a major step forward, aided by common standards and systems that can talk to each other.<\/p>\n\n\n\n

\u201cWhat we’re trying to do is digitise document-centric processes and manual processes with structured workflows and structured data,\u201d he said. \u201cThe standards have been around for some time, with adoption in certain parts of the industry, certainly in post-bind, accounting and claims. Placing has always been hard, because getting the data up front has always been difficult.\u201d<\/p>\n\n\n\n

After the speakers, the demos, there were cocktails, and barbeque food to round off the night. Attendees came away with new insights into how vendors can collaborate and, through the ecosystem, how clients can achieve a whole new level of service from their providers.<\/p>\n\n\n\n

\u201cThank you for a fantastic evening,\u201d said David McKenzie, Independent Consultant, Lloyd’s Insurance Market, UK. \u201cI thoroughly enjoyed it. I found it really insightful to see a whole new way that independent software vendors can work together.\u201d<\/p>\n\n\n\n

Want to learn more? Explore the AdvantageGo Ecosystem<\/a> and discover why it really is something exciting and something new.<\/p>\n","protected":false},"excerpt":{"rendered":"

Partners, clients, prospects joined AdvantageGo for a glamorous evening event in London to celebrate the AdvantageGo Ecosystem. \u201cSomething exciting and something new\u201d was how AdvantageGo\u2019s Global Business Leader Ian Summers introduced a recent evening event held to promote AdvantageGo\u2019s expanding Ecosystem. It was an accurate description for something that is quite rare in the insurance […]<\/p>\n","protected":false},"author":2,"featured_media":5883,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[7],"tags":[25,10,14],"line-of-business":[24,28,30,20],"class_list":["post-5882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blogs","tag-ecosystem","tag-exposure","tag-underwriting-workbench","line-of-business-cyber","line-of-business-general-liability","line-of-business-political-risk","line-of-business-property"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/posts\/5882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/comments?post=5882"}],"version-history":[{"count":0,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/posts\/5882\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/media\/5883"}],"wp:attachment":[{"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/media?parent=5882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/categories?post=5882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/tags?post=5882"},{"taxonomy":"line-of-business","embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/line-of-business?post=5882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}