Mind Your Ps and Queues

Whenever someone refers to the proverbial Three Ps, they’re typically referring to the prevailing wisdom about the way in which businesses should value their assets. In that context, they’re referring to:

  1. People
  2. Process
  3. Product.

In that context, we agree with those Three Ps. But some others are worthy of consideration. We offer them here for your deliberation.

Are You Ready?

As the saying goes, life is what happens to us while we’re making other plans. True. But that doesn’t negate the necessity of planning. Another notion suggests that plans are made to be changed. That’s true, too. But that doesn’t nullify the importance of planning, either.

It’s been several years now since we got out of the prediction business. Nevertheless, we’re pretty comfortable suggesting that, in the absence of sure things, these Three Ps will help keep you out of all but the most unavoidable jams:

  1. Planning. No plan will get you from A to Z without fail. But a plan that leaves room for life (reality) and contingencies (the unexpected) will be malleable enough to succeed more times than not.
  2. Preparation. As a subset of planning, mapping out your steps and forecasting potential contingencies will position you optimally to respond to whatever transpires.
  3. Progress. If you go about planning and preparation conscientiously and thoroughly, you’ll give yourself the best shot at making progress.

Henry Ford once said, “Thinking is the hardest work there is, which is probably the reason why so few engage in it.” While he may have been a bit condescending, he may have been right. And if he was right about thinking, planning, preparation, and progress come in right behind it.

The Other IQ

Similar to the Three Ps, when most people talk about IQ, they’re referring to the Intelligence Quotient. And just like our own Three Ps, we think there’s another IQ: the Ingenuity Queue.

Samuel Goldwyn is reputed to have said, “The harder I work, the luckier I get.” He knew the fallacy of overnight successes and get-rich-quick schemes. He also knew the value of planning and the need to be imaginative and responsive to change and changing conditions.

And so it is with system replacements and IT projects. No one ever wants to do them. Everyone has to plan for them.

If you mind your Ps and Queues, you’ll be ready when the time comes.

We OWN This

We’re quite aware of the fact that the insurance industry has considerably more than its share of acronyms. With examples like ASOP, BOP, CRIS, DEC, and others for every letter of the alphabet, we hardly need any more. But we’ve decided to create one, nevertheless: OWN.

We’ll forgive you if the first thing you think of is the Oprah Winfrey Network. We assume Oprah must have some insurance. But our interests are a little closer to home. It also would be completely understandable if you were thinking of the hare-hunting association chaired by Elmer Fudd, the Outlandish Wabbit Network. You’d be wrong there, too. Ours is more mundane and considerably more functional than that. And the only thing we hunt is satisfied customers. That’s why, to us, OWN means Ours Works Now.

Oh, Look! A Shiny Object!

We’re as forward-looking as the next guys. We love artificial intelligence, machine learning, blockchain, wearable telematic devices, and peer-to-peer networks that return insurance to what it used to be, albeit on a smaller scale; that is, the small contributions of the many protecting against the large losses of the few. We love all that stuff that largely exists in imagination, that lives on drawing boards, and that attracts investors like mosquitos to swamps. But we’re not preoccupied by it.

Our customers have real business to conduct right now. They have prospects who need policies. They have underwriters who need to rate, quote, price, and bind those policies. Our customers have policyholders who need service on their claims. Those policyholders are more interested in the technology at auto-body shops and reconstruction firms than they are in the technology in our Suite. And our customers are more interested in the reality of getting business done today than they are in the promise of getting it done tomorrow.

We’ll Be Right Here

We don’t want to be misunderstood: We’ll be here tomorrow. When any specific technology is required, we’ll have it. But we’ll offer it because our customers want it, have a practical need for it, will use it, and will benefit from having it. In the meantime, our customers won’t be preoccupied with operational headaches. And we won’t be preoccupied by the next bright, shiny object or be chasing the next wild, faddish goose at the expense of realism and pragmatism.

OWN. When it comes to technology, a promise in the future might be pretty. But utility in the present is the key.