Industry Leader interview with Mick Noland, Executive, General Manager, Insurance Solutions at CoreLogic
11th May 2021Tweet
What are the challenges facing your business right now, and how are you working to overcome them?
I would say that in fact this has been a time of immense opportunity for our business, in particular for our technology propositions. CoreLogic is a growing global business and our outlook to the future is immensely positive. Digitalisation is a top focus for re/insurers right now, a priority made more urgent due to COVID. I’ve seen an uptake in conversations and discussions about how InsurTech companies, such as CoreLogic, can work and collaborate with insurers to realise their digitalisation strategies. Therefore, for us, enhancing, innovating and expanding our solution offering is one of the most crucial endeavours at CoreLogic right now. We are extensively investing into our UK and European business, specifically around our claims workflow and collaboration solution and have high hopes for the future.
What has been your biggest business learning from the coronavirus pandemic?
My top 3 business learnings are about agility, the human factor and customer focus.
The importance of agility in any business environment, has been proven crucial when the pandemic fully kicked in. Of course, it’s not particularly insightful that agility is important in business, we all know that the ability to quickly adapt to change is paramount. However, I think we often anticipate that we’re better than we actually are. There are always areas to improve, re-think and re-consider.
Secondly, the importance of the human factor, realising that it’s people that drive the change. The pandemic has not only brought us together with our families, but also with our colleagues, team members and customers, as we all had to deal with our own challenges and support each other. You can’t drive change successfully without caring for the people around you and working together collaboratively.
Finally, whatever the circumstances, always focus on your customers, listen to them and be open to feedback; never lose sight of what they care about. The pandemic has hugely shifted consumer expectations and to remain successful as a business, you have to evolve together with your customer, ideally even slightly faster.
As we go to a “new normal” what are you looking forward to returning to and practices will you keep?
I’m looking forward going back to meeting people, socialising; whether it’s meeting members of my team in the office or networking with customers and business partners over a drink.
The pandemic has brought a stronger focus on employees’ mental health and wellbeing. As a business leader, keeping mental health issues in the spotlight is something that I personally care about.
If you could go back to the beginning of 2020, what piece of advice would you give to yourself?
That’s a tough question. Keep an open mind and don’t take the things you have for granted.
What would be your prediction for the industry in 2021?
We will see digitalisation evolving even further affecting every aspect of insurance. There is still plenty of untapped potential for technology and data innovation in our industry. I believe, we are just at the start of a new digital insurance era.
Many insurers have adapted incredibly quickly to the changes that came with the COVID-19 pandemic. However, the industry is still facing impediments to profitability and growth. I feel privileged to be where I am right now at CoreLogic, a company that has the experience and a set of innovative solutions to support insurers on their journey ahead.Tweet