Are requests for proposals actually meaningful and useful, or just another exercise in “covering your assets”?
In the hilarious first episode of our second season of EIS Coretalk, we take a deep dive into requests for proposals and requests for information (RFPs and RFIs) and question common enterprise software procurement processes.
Subscribe to our Coretalk YouTube channel for an alert when we publish. Here’s a sneak preview of what’s ahead in the episode.
For insurers beginning their core systems transformations, Kate Cordell, director of consulting services at CGI, Rory Yates, EIS’ global SVP of corporate strategy, Tony Grosso, our chief marketing officer, and Ed Halsey, our host and COO of hubb, offer advice and experience around:
- Focusing on the future rather than what’s happening in the business today
- Sharing your true intentions for the business with your vendor
- Picking a tech partner capable of helping you achieve your ambitions
Grosso cautions against “bake offs,” adding that the vast majority are simply replicating the features and functionality the insurer already has.
“They need to talk to people well before they’re in a position to start the RFI/RFP process,” Corell says. “They need to recognize there isn’t a one size fits all – or at least one size works for all. I don’t think there’s technology out there that does it all.”
In the best buying experience he’d been part of, Grosso said, the insurer told him they wanted to build technology for the future of insurance. “They had five or six different theories of what insurance in their world in the year 2030 will look like. And they said: pick two of these scenarios, build it into your system. And then let’s walk through it.”
Yates recalled: “We had a customer recently say something which I thought possessed quite a lot of wisdom, which was: ‘You do this 10 times a year. We do this once every five years.’ And in that space, you’d expect some freedom to respond differently.”
Also in the season two debut of EIS Coretalk: our new house band Raspberry Pie in the Sky. Come for learning, stick around for the fun and the funk!
To learn more about how coretech enables insurers to realize the full promise of insurtech, download our “Buyer’s Guide to Insurance Core Systems for P&C Insurers,” or “Buyer’s Guide To Insurance Core Systems For Life Insurers.”
Want to learn more about EIS? Talk to us.
Watch previous episodes here.