Modern Insurance Magazine


The Business Model


The Business Model

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Nik Ellis, MD at Laird, discusses the development of the traditional business model

How has the traditional business model developed over the last year?

“Because we’ve always done it that way” and “If it ain’t broke don’t fix it” are probably my two most dreaded phrases.  The world has evolved with no room for outdated clichés.  Technology has become so accessible that we have moved from asking “is this possible?”. Now we pose more subjective suggestions starting with “what if / how about we / imagine if…”Technology has changed what we can offer to the world.

“Because we’ve always done it that way” and “If it ain’t broke don’t fix it” are probably my two most dreaded phrases

This has enabled us to question our clients better, to find out what they struggle with and what they are trying to achieve. To understand what they would wish for if they had the ability to wave a magic wand.  While at times we still see no way forward, more often than not we can offer solutions that were simply not previously technically achievable.

How does this business model change the customer-supplier relationship?

This form of thinking breaks the traditional mould of a customer-supplier relationship. Rather than supplying a loaf of bread, we question why the customer wants it.  If it’s just to make a sandwich, do they also want the extra 15 slices of bread, would they like the filling, would they prefer the sandwich ready made?

Conventional businesses tend to tell the world what they do, whereas we are asking why they do it. We are trying to turn it round and find the core value in their product or service. This way we can make suggestions and change the way they work in ways that were previously thought impossible. All thanks to the technology we have available today. Imagine what we can do even better tomorrow!

Nik Ellis, Managing Director, Laird Assessors

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