(MV)— The year was 1973. There were no computers, no mobile phones, and no internet when PIUI embarked on a historic-first investment that would help usher in improvements and economic growth in the Northern Marianas 50 years later.
It was something ‘new’ for the islands back then. Today, PIUI’s giant strides transformed the company into an industry leader.
This transformation will continue—sustaining success will be both critical and essential. According to PIUI President & CEO Shirley Ann T. Sablan, critical in sustaining the growing needs of the business is embracing digital transformation.
While the benefit of technology is endless, there is also the potential for risks that would require protection for insurance businesses.
“(W)hile the benefit of technology is great and infinite, it can also expose us to potentially catastrophic financial risks that will require the benefit of insurance for adequate protection,” explains President & CEO Sablan. “Technology has become the apparatus of change. It has changed the way insurance companies operate around the world. While some of us are slowly adjusting to these technological changes, other more advanced parts of the world have already begun to fully utilize technology to streamline the process and improve customer experience. “
From marketing to automation in facilitating insurance services, the insurance industry has entered the era of digital transformation.
(T)here is no question that technology is our future: Many things have been automated, and our marketing strategies have long begun to leverage the internet and (its) use (in our) communication such as social media, livestreams, podcasts, and similar technology-driven platforms to get our message across,” President & CEO Sablan pointed out.
PIUI has already embraced technology use for its operation, increasing operational efficiency and enhancing tasks through automation, resulting in fast and seamless processing of customer needs and customer experience.
“As for agency operations, technology has become our center. Change is constant, so adapting to change should be second nature. Either we change with the times or get left behind—businesses must acclimate to this constantly evolving and tech-driven environment…,” the company leader pointed out.
“This world has become a platform for personal computers, tablets, and smartphones. Technology is now as basic as it can get. The (internet) has become a staple in every classroom, home, and office. And Pacifica has kept up with this change, investing heavily in technology to keep up with changing consumer preferences and habits,” adds President & CEO Sablan.
Sablan admits that not everything can be met and delivered through technology use; there are needs for services that require the use of traditional channels to stay in touch with customers and carry out certain processes. In essence, a good portion of PIUI clients, still needs/requires manual intervention to maintain a personal connection.
“However, we are mindful that a good portion of our population is still very traditional; they would rather continue conducting business in-person and transact with hard copies. We won’t abandon this set of clients and will maintain traditional service platforms to ensure their continued satisfaction and comfort,” explains President & CEO Sablan.
She added, “There are still opportunities for our industry as a whole to fully utilize available technology to streamline processes and make it easier for everyone. However, there are technological infrastructures that need to be in place, and some of which are beyond our control as private companies. But with collaboration with industry friends we should be able to address issues collectively.”
