Despite being unimpressed by the software on offer when he first joined the independent agency channel, Ryan has relished the opportunity to constantly innovate and improve agency technology and processes.
Andrew Ryan
Vice President
Medina, Ohio
Despite being unimpressed by the software on offer when he first joined the independent agency channel, Ryan has relished the opportunity to constantly innovate and improve agency technology and processes. Currently, Ryan is embarking on a new project—Engineered Insurance Services (EIS)—which is a joint venture between Hertvik Insurance and Engineered Tax Services, a premier specialty tax firm based in West Palm Beach, Florida, and a product of decades of commitment to driving change.
“In our new agency, just as with picking technology, we’re assembling a team with diverse skills and focusing on our strengths,” Ryan says. “This fresh start is thrilling and gives us the opportunity to create something innovative and efficient.”
How has agency InsurTech changed?
Technology has come a long way from when I first started. Early on, it was all about finding a one-size-fits-all solution, which proved to be unrealistic. Now, we’re seeing more targeted tech solutions that address specific issues within agencies. Artificial intelligence (AI) advancements are particularly exciting because they allow us to build custom tools. It’s less about relying on big industry players and more about being nimble and creative with the tools available.
How are you using technology to your advantage?
We focus on two main objectives: improving our clients’ experience and enhancing our employees’ experience. By using technology that meets these objectives, we aim to streamline operations and improve service.
Advice for agencies deploying technology?
Remember that there’s no magic solution—nothing replaces the actual work. People sometimes want to skip that, but it’s unrealistic. Breaking down processes is crucial to choosing the right tech that fits your needs. Avoiding shiny object syndrome is also important. Everyone has their favorite tech but not all will be relevant in the long run.
How did you get into the insurance industry?
People usually fall into the insurance industry in one of two ways: they're either born into it or stumble into it by accident. I was definitely in the latter group. I grew up on the East Coast, majored in finance and economics, and aimed for Wall Street. My college buddies ended up in investment banking and private equity, but I landed back-office jobs in banking that I just couldn't stomach.
I worked in a restaurant and when my girlfriend's family offered me an internship at their insurance shop in Ohio, I took it. Ironically, the day I started, the commercial customer service representative (CSR) quit, and I was asked if I wanted the job. I didn't, but ended up taking it. It was rough, but eventually, I found my niche and worked my way up to ownership.
How has technology in the insurance industry evolved?
When I first joined the industry, technology was pretty outdated—think Windows 95. Initially, I tried to find all-in-one solutions, but those didn't work out. It was only after I got involved with companies like Tarmika and connected with various tech founders that I saw real progress. We started breaking down our agency's processes and identifying specific needs rather than trying to fit everything into one box.
Nowadays, technology has advanced. While there's a lot of investment, much of it seems to either miss the mark or be overhyped. Advancements in AI are helping us build our own tools and leverage industry-agnostic solutions. The key is integrating these tools effectively to meet our needs.
Can you share an example of how technology has benefited your agency?
We deconstructed our processes and identified a significant pain point with agency bill accounts. Honestly, I don't think any agency has a truly efficient system for managing them. It's just a clunky, cumbersome process. We struggled to find a solution until we started using a company called Ascend.
Ascend finances the account and sends the money directly to the carrier, so we no longer have to touch it. This was a game-changer compared to the old method, where we had to handle the funds, cut checks, subtract commissions and juggle a million other steps. By implementing their technology, we saw our account reps saving 10%-20% of their time on those accounts—a measurable difference. You can see the value in these automated systems for client services and accounting. When you address pain points like that, it shows the potential of InsurTech solutions.
How can agencies successfully roll out new technology and get buy-in from staff?
We were fortunate to have a team aligned with our goals. Building a collaborative environment where everyone feels valued and understands the "why" behind changes is key. Involving staff in decisions and making sure they understand the benefits of new tech reduces friction. It's about creating an environment where they feel part of the process and can contribute to making improvements.
What's the next frontier for independent agency technology?
I'm really excited about AI. While blockchain was a big topic a few years ago, AI has true potential across insurance—from underwriting to claims processing and customer service. AI can transform the industry, and it's important to stay ahead and leverage these tools. First movers can gain significant advantages by incorporating these technologies effectively.
What's your favorite aspect of being an independent agent?
My favorite aspect is the people. I love working with my team and collaborating with other industry professionals. Building and improving with a dedicated team, and the camaraderie that comes with it, is incredibly fulfilling. The constant drive to get better and innovate is what I enjoy most.
Will Jones is IA editor-in-chief.
