ONWARD AND UPWARD
Chief Technology Officer
2021 has been an exciting year for innovation in the insurance brokerage industry. Graham is proud to be leading some of the change by mentoring startups and implementing forward-thinking technologies that will enhance the client experience and improve internal operations. Through our partnership with BrokerTech Ventures, we have access to new technologies before they hit the market and can work with these promising companies to test and improve their products before they launch. This past year, we tested and adopted new solutions in a number of key areas for our clients and employees. Let’s dive into a few of these new solutions, some of which you may already be familiar with.
To reduce our clients’ risk from third-party vendors, we teamed up with TrustLayer, a solution provider for certificate of insurance and compliance tracking. Our partnership allows us to offer a secure platform that automates the vendor compliance process by verifying insurance coverage and other compliance documentation in real-time. TrustLayer allows Graham to work more closely with our clients and assist them with their risk management programs in new ways. Additionally, we are working to develop a platform that streamlines the underwriting process by directly connecting brokers and carriers to handle the needs of our clients in complex industries. This will make the insurance application and renewal process easier for clients and prospects, allowing them to obtain more competitive quotes and extend to different markets.
To help our self-insured clients reduce costs and maintain high quality health outcomes, we’re collaborating with Goldfinch Health. The program is aimed at improving the overall quality and experience of surgery, while simultaneously reducing costly surgical complications, hospital re-admissions and risks associated with opioid addiction post-surgery. In addition, we are investigating an employee benefits platform that incentivizes employees to select lower cost options based on in-network services for testing, prescription drugs, and other medical needs. For example, if an employee is in need of an MRI, they can use a mobile app to find a lower cost choice and may even be given a cash reward to do so. The goal is to empower employees to be part of driving down the cost of health care over time.
Promoting a culture of safety within our clients’ organizations is one of our missions. In just the past two years there has been an influx of new technologies that make fostering a safe work environment easier and more efficient. We are investigating centralized platforms for preemptively reducing incidents through wearable technology and hazard detection, and virtual reality tools for remote safety training. We are also exploring a system that connects to existing camera feeds and uses artificial intelligence to automatically identify potential threats, in addition to a mobile app that needs only a smartphone to sense the environmental conditions and employee actions that could signify a worker in distress. At Graham, we are constantly working behind-the-scenes to identify and partner with the latest and greatest solutions that can benefit our clients across industries, whether that’s improving safety, creating efficiencies, reducing claims or saving money.