The Value of Innovation

The Value of Innovation

One of the truisms of working in technology is that the pace of change is accelerating. You must adapt or fall by the wayside; this is as true for individuals who work in the sector as it is for the companies they work for. For Sherpa, this has meant being able to leverage cutting-edge technology available through Google’s Cloud Platform to jump to the head of the Insurtech pack and hopefully stay there. Having come from a background that was deeply entrenched in Amazon’s AWS for years, I had to quickly get my head around what is, in many ways, a completely different methodology for building and deploying applications. It’s also one with key benefits for Sherpa and therefore our members.

When I joined Sherpa, I ended up having to push hard to launch, coming in toward the end of a three-year-long “sprint” by the team to realise the vision of founders Chris, Greg and Lachlan. For me, the challenge was not just a learning curve for the tech but also, with no background in insurance, having to gain an understanding of the complex and stringent regulation in this sector while working closely with our partners. I would like to publicly thank the team for their patience with me asking what I am sure must have been a lot of stupid questions!

But now to my point about technology change and how this drives innovation. Sherpa uses some truly cutting-edge technology built upon Google’s Cloud, and we are now able to offer the kind of insurance advice in minutes that would’ve previously required a lengthy interview with an IFA, answering lots of questions to determine the best coverage for you and your family. Sherpa does all this without taking any commission — as a membership service, our only interest is in offering the best advice and products to our members. We make the same money, regardless of policy cost.

Sherpa has leveraged technology to provide an innovative insurance “robo-advice” service. The value of this innovation is a significant cost reduction to our customers, but it is more than that — it’s trusted, unbiased advice from a machine that takes a holistic view of your insurance needs.

That is the value of Sherpa innovation.