CEO Rod Cruickshank talks ways the firm is working toward systems excellence through streamlined efficiency, investment, and client feedback.
“The primary objective here has always been to modernize the process and experience for our customers. We hold ourselves accountable for improving processes within our company and also with our multitude of vendors,” says CEO Rod Cruickshank.
A lofty goal, indeed – but one that has been a continuous drive of Cruickshank’s since day one when he started at TPG in 1995. He feels it is the responsibility of an independent, mission-driven organization such as The Partners Group. “If we can simplify and automate any process, it creates efficiency for us all.”
This “systems excellence” – what’s that mean, exactly? In Cruickshank’s perspective, it means lowering the cost of doing business while at the same time improving customer experience. In other words, a win-win for all involved.
OK, so how are we working toward systems excellence? Glad you asked.
Data Analytics & Artificial Intelligence (AI)
With a robust in-house analytics team (Interas) here at TPG, we know the power of data and the stories it can tell. These stories help us identify risks earlier, streamline processes, and speed up insights. Add AI to aid in improving customer experience and we’ll have a powerful tool based on a multitude of captured data, analytics, and intelligence. “AI is embedded in most technology and decision-making engines. It is generating insight for insurance customers to underwrite for risk and predicted futures. TPG is keenly interested in knowing how these engines can help price and process,” Cruickshank explains.
BrokerTech Ventures (BTV)
As mentioned previously in the interview with CFO Jake Shafer, TPG has invested heavily in BTV, which Cruickshank calls “the portal by which all technology disruptors and game changers come through.” BTV is the first broker-led convening platform focused on delivering innovation to the insurance broker industry. “As an owner,” Cruickshank explains, “we have early views of evolving technology that will move us forward in innovation.”
Customer Service (CX) Leadership
Only by listening to and working with our customers, consultants, and carrier vendors will TPG truly be able to improve our CX. “Mark Rose is TPG’s new dedicated Director of Customer Experience & Innovation. He is a seasoned expert who will interact regularly with customers to discuss hot-button pain points for collaboration – we are looking for an open dialogue. How can we help our clients find solutions that could benefit the entire industry?”
Identifying Systems of the Future
TPG is investing significant funding and resources into systems innovation. “Our marketplace tends to be behind the curve,” says Cruickshank, “and we won’t accept that any longer. We need to be nimble and poised for change.” Ideally, better systems will mean more relevant information in readily accessible formats for clients; less data input requirements; and sound insights for future planning. “If we give the power to the customer to have the right data in the moment, it enables them to make the best decisions.”
Innovation is inevitable, but the speed and efficiency at which one adopts new technology is the key. In summary, Cruickshank says, “We accelerate via investment and collaboration with leading peers to help accelerate customers’ growth. If you have feedback on how we can improve the customer experience, let us know. We want to hear from you.” Our minds are open, colleagues and coworkers! – all feedback is welcome.