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Last week our speakers were Gina Sands-Brooks, Innovation Centre Manager and Kevin O. Hudson, Vice President Underwriting. Both were from Bahamas First Corporate Services and their topic was Building for the future".
Kevin Hudson spoke of the importance of analytics in business and data being the new currency. The data can can be collected via different methods and the data can be analyzed to serve clients better and used in a meaningful way. Locally the resources aren't available but in the case of Bahamas First for example they created a system to build their data which helps them to build a more consistent and better product which fulfills the needs of their clients.
He also said that one should not forget about the insurance product when starting innovation and working through plans for your company as insurance provides stability. It provides economic stability. It also provides emotional stability so that one can think properly. One would know that your emotional capital won't be lost and you would not have to start over nor would your financial capital be lost if you have the proper insurance. Bahamas First has products for businesses that would provide the stability needed. Bahamas First recently launched "First Online" which is a full service insurance portal that allows one to do many functions such as checking balances and getting quotes online. There's no need to go into their office for many tasks as so many things can now be done through the portal.
Gina Sands-Brooks added to what Kevin had said by describing what was involved in getting the process completed. The journey took years as the company wanted to make sure the product and the service would be something that matched or exceeded first world experiences. A lot of research went into the product and it was found that some of the things customers wanted were to get back some of their time and have something convenient so that they could focus on other aspects of their lives.
It took some time but Bahamas First wanted their clients to have a great experience so they made sure everything was done right. Gina Sands-Brooks also noted that the First Online portal is the first of its kind in our market. There are other portals in our market but First Online is the first where you can register, view policies, make payments, purchase policies, submit claims and more all in one space.
The benefits of the portal are reclaiming your time, you have 24/7 access to the portal and you can check it whenever you want to, it reduces waste, you can transact business from anywhere and the system is easy to access and easy to use. She also added that working with their products online is very secure and backed by world class security and safety features so that customers can do business with full confidence that their data is safe. She ended by saying this is how Bahamas First was building for the future.
