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July 26 2017 | Deb Smallwood

Ten years ago this month, I launched Strategy Meets Action with not much more than a vision of the untapped possibilities for insurance enabled by innovation and transformation. The possibilities, I always knew, were infinite. But there was a gap that needed to be filled – by a firm that could strategically guide insurers to rethink the traditional business of insurance and then take the actions required to innovate and transform, enabled by the power of technology and data. Our mission would be to assist insurers to bridge from today’s business to the insurance business of the future.

SMA10 anniversary rays largeAs I sit here ten years later, I marvel at how much has changed in and around insurance and how expansive the possibilities have become. Just consider the incredible advances of smart phones, smart homes, autonomous cars, streaming, mobile, SMS, advanced analytics with big data, drones, AI, robotics, wearables, and the list goes on! The last decade has seen, arguably, the most dramatic shifts in customer behavior and expectations in modern history. The changes have been incredible – and all have contributed to enabling a digital connected world. But, bridging the enablement of innovation and emerging technologies into transformational business strategies and operations has made our world become even more complex, and if anything, the gap has widened.

Over the last ten years, insurance has changed too. The rapid pace of change has been astonishing. As the world around us shifts and advances in digital transformation, the changes have had a direct influence on our industry. And insurers have responded. Many insurers have begun a transformational journey of innovating to become Next-Gen Insurers. New business models, evolving new products and services, and changing customer experiences have emerged. Investments are moving beyond core systems, portals, and BI. Many insurers are formalizing innovation activities and participating at varying levels with over 1000 InsurTech startups. Insurance today is taking on a whole new look, and it’s not looking much like insurance from 2007!

Strategy Meets Action has been fortunate to be part of this transformative decade. Our clients are those who are responding to change and embracing our unique trusted advisor model. With our strong strategic vision, foundational research, and various customer engagement models, we have prepared and positioned hundreds of insurers and solution providers for the unprecedented changes in our industry. Our services have helped insurers and solution providers explore the endless possibilities, rethink their business models, and make the right technology decisions to enable transformation and innovation. We thank all our clients for their business and for working with Strategy Meets Action on this amazing journey.

From my first vision to create a company to becoming a respected advisor and industry influencer bridging today’s business to the future business of insurance, I have been humbled by my incredible SMA Partners Karen Furtado, Mark Breading, and Mary Ann Garwood, and the entire SMA team that has joined me on this mission. Our company is made up of the most knowledgeable, hard-working, and dynamic people, and I will be forever grateful for their dedication and commitment, to not only to Strategy Meets Action, but to the advancement and transformation of all areas of the business of insurance across the industry.

The next ten years promise to be even more transformational for insurance as the pace of change accelerates. As we enter this new decade, the SMA team sends special thanks to our customers, partners, and friends for your business, support, and participation as we continue on the insurance innovation journey together. We look forward to the future and working with you though the infinite possibilities.

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To learn more, please contact:
Deb Smallwood
Founder & CEO
Strategy Meets Action