I promise you this isn’t a post about the mathematical relationship between these two.
More like the personal relationship we each have with them, and as far as how this relationship goes, so goes our business and our lives.
We have a really messed up notion of time, and as a consequence money follows this worldview as well.
Let me explain…
The average American lives to 78 y/o.
If your Mom is 68 and you only see her twice a year, you don’t have her around for 10 years … not really!
You only have her for 20 more times or moments … that’s all!
When you realize you may see her only twenty more times, that kind of changes your perspective doesn’t it!
You can’t save up time and you can’t refuse to spend it.
You can’t stop it and come back to it later.
Either you’re spending your time intelligently, or your time is spending you indiscriminately.
The quality of that relationship is entirely up to you.
Same with money. Either it’s working for you or you’re working for it.
When we first started messing around with the idea of a 30 minute claim, we had to look at things from a completely different perspective.
The technology is here now, no doubt.
Believe it or not the 800 pound gorilla in the room wasn’t the tech, but the mindset to believe that it was conceivable to drop claim cycle time to an inconceivable level and back it up with time, money, and reputation.
But we believed it could be done, and at the time that was enough to get things moving.
If you’d like a tour of how we’re doing it, just click here , or call us to chat about it.
The market for something to believe in is infinite – Gapingvoid
And that’s all you really need. Something to believe in.
When everyone is doing the same thing at scale, that’s when you know something needs to change.
Standards were made to be de-standardized.
When we started there was no map, narrative template, or mentor to guide us.
All there was was a feeling that something wasn’t right with the way people were filing their claims and how carriers were processing them.
This feeling grew into an uncertain suspicion, and this grew into a certain reality, which was backed by David Milton’s 25 years of working experience as an insurance exec on all sides of the claims process.
An insurance policy is a promise, a promise as solid as government debt. The claims part of a policy is what people actually buy.
Why should the process be cumbersome for both the carrier and the policyholder?
After all, no claim gets better with age, and the only good claim is a closed claim! – @davidsmilton
Why then has it taken so long for the relationship between time and money in this context to really work?
Mostly human nature. We don’t like change.
The other barrier was technology, which is no longer a barrier.
So when you dare to think differently and the tech is no longer a problem you get Merge.
CMO at TelaClaims. Currently testing, tinkering, and breaking assumptions, hypothesis, and beliefs about what works and what doesn’t when growing a SaaS startup in the insurance space. Loves to swim, read, camping, pretty much all things outdoor! Claudio lives in South Florida with his wife and 3 boys.