Overhauling a 114-year-old insurance organization is no simple feat. It took a few years of strategizing, but Saskatchewan Mutual Insurance, a provider of home, auto, commercial and farm insurance in Canada, unveiled its new identity, Sandbox Mutual Insurance, last month as part of its wider digital evolution.
The insurer launched a new website, Sandbox.ca, with a fresh look and a focus on making insurance “delightfully simple.” It’s also launching a digital claims portal for policyholders to track their active claims next month.
“We developed a new five-year road map a couple of years ago, and part of that road map was really developing a growth strategy,” said Shelley Willick (pictured), president and CEO of Sandbox. “We had to look at what we need to be successful going forward. We had a healthy MCT [minimum capital test] and we wanted to make sure we effectively utilized our capital.”
Read more: SMI rebrands as Sandbox Mutual Insurance
Willick said the result of their brainstorming was a “phy-gital” strategy: combining their physical presence with digital upgrades to meet changing consumer expectations in the market. To enhance SMI’s digital capabilities, the organization started with smaller projects focused on getting customers the information they needed in the manner they wanted.
“That meant helping our brokers satisfy our policyholders’ needs. But we realized it was going to take a lot of technology, which doesn’t come without a significant cost,” Willick continued. “To support the technology initiatives we wanted, we also needed to grow to have a larger capital base to spread those costs out. All those factors combined to create the right time for us to grow.”
The underlying thought process in Sandbox’s identity reboot is empathy for its customers. Willick said they even though they may “live, breath, and love insurance,” they acknowledged that most customers don’t.
“They buy it because they have to, and it’s hard for us sometimes to realize that, but it's true,” she explained. “[Customers] really don't care [about insurance], but they need us to be there. So, the basic premise is not changing – it’s still to be there when they need us, but to make insurance easier and meet them on their terms.”
Ultimately, that means creating an omnichannel experience to be able to meet customers digitally if they choose, or to meet them in person or over the phone otherwise. “Not putting our needs first was the biggest learning we took away from the whole process,” Willick shared.
This realization is also partly why Sandbox has prioritized its digital claims portal. Willick explained: “It’s a very stressful time for the policyholder. Whether they have a small or big loss, it’s confusing and they just want to get back normal. If we can streamline that process and make it less stressful, we can make it easier for them. We felt that claims are a great first step to being they where they need us the most.”
Additional phases of Sandbox’s digital claims portal are set to be rolled out in 2023. The upgrades will allow brokers access to their customer’s claims status to help streamline the broker and customer interaction.
For Willick, a strong board and management team to support their growth strategy and to see the business “from the lens of the customer” has been key to Sandbox’s successful rebrand. But their old name still brings some challenges.
Its former name, Saskatchewan Mutual Insurance, was a limiting factor. Sandbox operates in Saskatchewan, Alberta, and Manitoba, but Willick said they struggled to connect with customers in Alberta and Manitoba.
“We felt that if we were to dive into a consumer-based focus and find a name that fits with that strategy, it would position us well for the future,” Willick told Insurance Business.
The pandemic proved a concrete test for Sandbox’s digital strategy. The organization successfully pivoted to remote work and continue its technology changes even amid the disruption of COVID-19.
“I think what the pandemic did was showed us that we could operate digitally. Because we had to pivot, move people home and operate more digitally than we have in the past very quickly, it showed us that it was possible,” Willick said.
Rather than pulling away from the changes that the COVID-19 pandemic ushered into the workplace, Sandbox is embracing the new opportunities for digital growth. It recently rolled out a new hybrid work policy after moving into a new building in September.
“We made sure [the new office] was more technologically advanced, so we’ve set up virtual meeting rooms and moved to having laptops for all our staff, so it’s easy for them to be mobile. The hybrid model allows people to work a couple of days a week from home if they choose to do so,” added Willick.
With its new identity unveiled and technological changes soon to be rolled out, Sandbox is intent on establishing a strong digital presence and fulfilling its mission of “delightfully simple” insurance. But the insurer isn’t neglecting its product development.
“The next product that we're diving into is our farm product,” Willick revealed. “Our current offering is more suited to your mom-and-pop type farms. We want to create a product that is more suited for commercial-type farms, so we're working on that.”
