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Power Women In Insurance

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Together we are stronger! On the Power Women Insurance Podcast, we get to ask the questions about how to excel and thrive in the insurance industry as a POWER Woman in this space.

Hosted By

Hosted By

Teresa Kitchens

In this episode of Power Women In Insurance, Teresa Kitchens sits down with Bobbie Collies, Chief Growth Officer at Coterie Insurance. Bobbie and Teresa talk about data and how it is changing our industry.

Episode Highlights:

  • Bobbie shares how she got into the insurance sector and what she’s been doing in the insurance technology space. (1:09)
  • Bobbie mentions that many Insurtech companies started out wanting to disrupt the industry but have since shifted to figuring out how they can best support the current operating model of the industry. (5:06)
  • Bobbie explains how utilizing data is the only way to survive in this industry. (10:03)
  • Bobbie discusses how technological advancements are changing the value proposition of independent agencies. (16:16)
  • Bobbie mentions that Coterie Insurance launched “Simply Bind” in July of this year, which is their underwriting engine paired with their quoting engine, that provides agents with a legitimate quote within seconds or minutes. (22:15)
  • Bobbie explains that the most valuable aspect of an insurance agent’s job is to provide advice and that the data imported into the system, such as changing a vehicle or updating deductibles or credit cards, are things that insurance agents should not have to touch because they are simple enough to self-service. (30:00)
  • Bobbie mentions that there are so many technology solutions for agents on the market today that they should begin with the area that is pushing toward their five-year goal and create tools around it. (32:24)
  • Bobbie explains that Coterie uses a network of agents called Coterie Collaborative to help with decision-making, and some of Coterie’s greatest partners are helping them figure out what to do next to grow and scale. (34:45)

Key Quotes:

  • “The only way that we’re going to survive or you will survive in this industry moving forward is using our data, whether you’re a carrier and agency or an Insurtech, because the expense and the cost model of not doing so is going to put you in a place where you’re just not going to be able to compete anymore.” – Bobbie Collies
  • “My best advice there is to figure out what five years look like. What do you want to look like as an agency, and then start solving for the problems that you need to solve for.” – Bobbie Collies
  • “Some of our best partners are helping us think through what we need to do next in order to make sure that we grow and scale with them.” – Bobbie Collies

Resources Mentioned: