In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Bharath Bangalore, Founder of Blue Ocean Strategic Partners. Bharath discusses process efficiency, automation, and the impact of technology on the insurance industry.
Episode Highlights:
- Bharath discusses his background in finance and how his experience working at Ritz Carlton and Peninsula Hotels shaped his perspective on company culture. (2:16)
- Bharath mentions that automation saved Bradley Flowers time and has the potential for even greater benefits. (4:24)
- Bharath discusses how his time at the Ritz-Carlton prepared him to launch his company. (7:27)
- Bharath believes that making mistakes is okay as long as they are recovered because it creates a memorable experience that exceeds expectations. (16:42)
- Bharath shares that his passion is helping small businesses grow by streamlining their day-to-day processes, focusing on accounting, human resources, and insurance industries, and emphasizing providing equal footing to smaller businesses. (19:05)
- Bharath mentions that the insurance industry can improve service levels and client relationships by copying the successful models of companies like Bradley’s and using technology to streamline processes and focus on understanding client needs instead of just competing on price. (21:04)
- Bharath discusses the challenges of transitioning from working in a larger corporation to being an entrepreneur, including the responsibility of managing a team and ensuring their livelihood. (23:19)
- Bharath mentions that their enjoyment comes from using their attention to detail and skill set to help others improve their processes and save time, ultimately leveling the playing field for smaller businesses. (26:15)
- Bharath discusses the importance of using technology to reduce spending on automation and increase efficiency in the workforce. (30:27)
- Bharath shares that he is focused on improving process efficiency in the insurance industry rather than on InsurTech itself. (32:18)
Tweetable Quotes:
- “It’s okay to make mistakes, but recover from the mistakes because that they will never forget.” – Bharath Bangalore
- “My joy is actually helping small businesses grow, get the efficiencies that larger corporations are taking granted for because they can throw money at it, and then streamline their day-to-day processes.” – Bharath Bangalore
- “Use technology to pivot away from process to have to, you know, talk about basically not be a value proposition on price.” – Bharath Bangalore
Resources Mentioned: