Since I joined LOGiQ3 a couple of months ago, I have been diving head first into building my knowledge of our business, our processes, our people and, of course, our customers. While I have been in the insurance industry my entire career, this is the first time I have been part of a professional services firm supporting the industry. So, while knowing how insurance and reinsurance works is important, much more important is knowing how to successfully operate a business that supports other companies via expert knowledge and resources. Recently I shared a number of early observations with our internal team—both positive and critical. I believe we have a lot going for us at LOGiQ3, such as:
- Plenty of insurance and reinsurance experts and a diverse group across many disciplines, backgrounds, and experiences.
- Both our top and bottom lines have been growing at a healthy pace over the past couple of years.
- Growing name recognition and reputation in the life reinsurance marketplace.
- Strong customer relationships across the board.
- A unique position in the marketplace—no other company covers the breadth of functionality that we do.
- Comprehensive operating metrics in place to properly measure our success.
At the same time, there are a few things we need to work on and this is where I have learned the most since joining LOGiQ3.
First, to increase our effectiveness as an outsourcer, we need to be more and more consistent in our day-to-day processes and continue to improve our use of technology. Our customers rely on us to deliver quality services at all times so, first and foremost, we need to be consistent. Each customer should know what to expect and has a right to expect great service. The way we accomplish this is through expert resources operating well-defined processes in a stable operating platform. Continuing to improve that formula will set us up to successfully deliver for our customers today, as well as be in a position to welcome new customers tomorrow.
2. Filling (and managing) the Pipeline
Second, we need a talent pipeline to match our sales pipeline. As an expert service provider focused on growth, many of our engagements require adding new, strong members to our team. To be responsive to customers, we can’t wait until a new opportunity arises to think about staffing. We need to continually recruit talented professionals who could become LOGiQ3 employees or contractors (right when the need arises). So, while we will continue to recruit in the traditional ways, we are now becoming more aggressive developing our talent pipeline to be able to hire “just-in-time” and “right-on-time”.
3. Market and Industry Presence
|Ray DiDonna is CEO at LOGiQ3
Finally, while our team spends most of their days in the office supporting customer needs and requirements, we also need to ensure we continue growing our already strong marketplace reputation via industry presence. It is critical that our in house experts, of which there are many in a variety of disciplines, display all they have to offer in any number of industry settings such as conference presentations, industry committee representation, written pieces for trade journals, and blogs such as this one. Industry presence allows us to provide the market with critical information, while at the same time “showing off” the vast talents we have in house. As consequence, when we begin prospecting discussions with a potential client they likely already have a sense of what LOGiQ3 is all about and what our experts have to offer.
No doubt, in the months to come, I will learn much more about operating LOGiQ3. In the meantime, I hope what I have learned so far provides some food for thought in your own professional lives. If you’ve recently changed roles in your organization or have joined a new and exciting one, I’d like to hear about what you’ve observed, learned so far, and how you plan on contributing to the future success of your company.
Don’t hesitate to reach out to me if you would like to discuss this blog or anything else.