The Most Innovative Companies To Watch In 2021 by The Enterprise World

WWW.THEENTERPRISEWORLD.COM | APAC EDITION | DECEMBER 2021

Raj Sahu | Founder

Renovating the Hospitality Industry with SaaS

From Editor’s Desk “The value of an idea lies in the using of it.”— Thomas Edison

s they say, innovation is the key! Be it a minuscule problem or greater one, if one is able to find an innovative way around it, he has won the world. But it goes without saying that innovation needs courage, undeniable courage to identify the problem, be on top of it, and then find an innovative solution to make people’s lives easier. Featuring for The Enterprise World’s this issue of The Most Innovative Companies to Watch in 2021 are some of such companies, who with their innovative solutions to unnoticed problems have made this place a better place to live. Featuring for the Cover Story is Sysotel, a company that offers solutions in hospitality tech software. The solutions offered are quite cost-effective for the low-scale, mid-scale, and large-scale industries. The company is known to have ventured with several like-minded groups of experienced persons with a proven track record. This has thereby helped SYSOTEL to observe case studies that have successful hospitality management when teamed up with operations management, e-commerce management, revenue management, sales, top line, and bottom-line GOP achievements. Among the special features, read about Aselector, founded by Ashutosh Sharma. He laid the foundation of the company to present an intelligent knowledge management platform. This platform offers customers self-help, chatbots, full-cycle decision support, and knowledge management. This helps the staff follow the standard operating procedure, ensure consistency for customers, and reduces the burden on expert attrition which helps Aselector’s clients serve their customers better and faster. Read this and other features of companies that have put their best foot forward.

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This list is NOT a ranking. The companies on listed in magazine serve different aspects of the market, making ranking them in any order except revenue impossible and unfair. We try to bring a perfect platform for business organization to showcase their valued products/ services. Copyrights © The Enterprise World | 2019. All Rights Reserved. The images and content included in this magazine should not be copied, transferred or reproduced in any form or by any means, electronics, mechanical, photocopying, recording, otherwise, without proper permission from The Enterprise World. The Enterprise World solely owns all the reprint rights.

Leaders in Spotlight

Featuring for the Cover Story is Sysotel, a company that offers solutions in hospitality tech software. The solutions offered are quite cost-effective for the low-scale, mid-scale, and large-scale industries. The company is known to have ventured with several likeminded groups of experienced persons with a proven track record. This has thereby helped SYSOTEL to observe case studies that have successful hospitality management when teamed up with operations management, ecommerce management, revenue management, sales, top line, and bottom-line GOP achievements. SYSOTEL also offers a powerful Revenue Management AI (Automated Intelligence) System. This AI system helps the small to mid-scale hotel operators to sustain in high traction competition, offers multiple rate discount conditions customization on rates, dates, time, seasons, inventory, and a userfriendly yet informative dashboard. Ashutosh Sharma, Founder of Aselector laid the foundation of the company to present an intelligent knowledge management platform. This platform offers customers self-help, chatbots, full-cycle decision support, and knowledge management. This helps the staff follow the standard operating procedure, ensure consistency for customers, and

reduces the burden on expert attrition which helps Aselector’s clients serve their customers better and faster. Aselector is a SaaS-based technology company, which provides an intelligent knowledge management platform implemented as an interactive decision tree. Aselector provides No code, interactive decision tree platform for customer self-serve as well as agent support. This platform can help achieve a signiﬁcant reduction in support costs and improve customer satisfaction and ﬁrst contact resolution. It is especially suitable for startups and mid-size companies that seek to improve customer service and reduce service costs at the same time. In Special Editorial Articles readInsuring A Bright Future For The Life Insurance Industry! Rushabh Gandhi Deputy CEO, IndiaFirst Life Insurance Company Limited. & Hibernate In Style – Winter Decor! Bhawna Khanna Founder and Owner, Studio Astrid

12. SYSOTEL

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24. Aselector

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4 Software All Small Business Owners Should Consider

COVER STORY

Renovating the Hospitality Industry with SaaS

DECEMBER 2021

Raj Sahu Founder www.theenterpriseworld.com

COVER STORY

he hospitality industry has seen immense growth in the past two decades. Considering the technological advancements in various sectors, the hospitality industry has managed to thrive on it as well in order to remain relevant and competitive in the market. Amongst the most beloved developments are the SaaS and cloud computing trends are helping the hospitality sector for its betterment. SaaS has created new ways of innovation which introduce the world to entirely new functionality. This enables firms to find new ways to collaborate and share vital information within the hotel with their guests and partners. When joined forces of SaaS and the hospitality industry, SaaS has an eminent potential to transform areas such as reservation management, online bookings, front desk management, housekeeping services, and guest engagement. Amongst the various SaaS-based companies which provide an end-to-end hospitality solution is Sysotel. Sysotel was founded by Raj Sahu to provide affordable and insightful solutions to the hospitality industry. His background has given him a unique perspective on what it takes to succeed in the competitive market. This encouraged Raj to build a product that would help hotels increase their revenue by using artificial intelligence and machine learning in order to make intelligent decisions about how to push their rates on various platforms like Expedia or Booking.com without having to deal with all of the hassles. Solutions Offered Sysotel offers plenty of solutions that consist of hospitality tech software. This software is generally based on an Augmented Reality based Hotel website builder, Simple and UI friendly RMS & Powerful hotel channel manager. The key product of the company is

DECEMBER 2021

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COVER STORY

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Businesses can't afford to react to what their customers want; they need to anticipate their needs.

SYSIRMS. This solution is much different than the traditional RMS systems which are available within the market. SYSIRMS is mainly powered by AI. In addition to that, the solution is powered with AI with unlimited features and options with Data science trends. The solutions offered are quite cost-effective for the

DECEMBER 2021

low-scale, mid-scale, and large-scale industries. The company is known to have ventured with several likeminded groups of experienced persons with a proven track record. This has thereby helped SYSOTEL to observe case studies that have successful hospitality management when teamed up with operations management, e-commerce management, revenue management, sales, top line, and bottom-line GOP achievements.

Apart from that, SYSOTEL is renowned for providing unmatched solutions to entrepreneurs. This has helped these entrepreneurs to accomplish their desired goals without any limitations.

operators to sustain in high traction competition, oﬀers multiple rate discount conditions customization on rates, dates, time, seasons, inventory, and a userfriendly yet informative dashboard.

SYSOTEL also oﬀers a powerful Revenue Management AI (Automated Intelligence) System. This AI system helps the small to mid-scale hotel

Reputation Management The diﬀerence between a hotel's income and earnings can be determined by its reputation. Taking into

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COVER STORY

“Do one thing every d one by one and time by the competition and Become be your unique point to Ju for rest of the

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day that scares you, e time you will overpass the e Unique one and that will ump Higher and Sett Goals Competition”

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COVER STORY

DECEMBER 2021

consideration the usage of the online reputation management services of a firm like SYSOTEL to monitor and manage the online reputation of a hotel. SYSOTEL assists your hotel in maintaining its online reputation with a portfolio of the best online reputation management technologies. Controlling how a hotel is perceived by customers or other approaching parties is the goal of hotel reputation management. Because the hotel industry deals directly with consumers, what they have to say about the hotel is essential because they will carry their experience with them. The hotel sector is a customer-facing industry, thus public relations is critical to ensure that clients have a positive impression of the establishment. Because there are so many online venues to manage reputation on, reputation management is more crucial than ever. Customers are talking about hotels all over the place, from search engine reviews to third-party booking sites to social media. As a result, using online reputation management services to monitor and regulate what they are saying is critical. Dealing with the Challenges The company has faced its share of true challenges. The initial challenge for the company was to find and develop an affordable world-class system assisted with AI technology. After plenty of effort and lots of research, the company found a way to develop a more agile, powerful, reasonable, and stable solution for the hospitality industry. This solution would help hotels to recover fast and effectively from the effect of the ongoing COVID-19 pandemic. Since the hospitality industry has been affected badly by the pandemic, there was a clash in the profits of these companies. This triggered the growth of SYSOTEL as the company offered solutions with proven track records of hotels that had recovered faster and started earning profits. Futuristic Developments SYSOTEL has envisioned being at the forefront of the technological revolution in the hospitality industry and emerge as a pioneer in the field. The company

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What new technology does is create new opportunities to do a job that customers want to be done.

wants to be an established firm that would work as a one-stop solution for all kinds of hospitality tech innovations. The firm wants to help the hoteliers understand the market segment via data analytics. Moreover, this can help businesses to create a memorable experience for their customers. Additionally, with data integration businesses will have the potential to identify risks, competitors, forecast the micro-environment, and learn to stay ahead of the curve. Thus, SYSOTEL ensures that the hoteliers will have enough data which will help them to innovate new products and services which will be in the best interest of the customers. The establishment will help businesses incorporate a consistent data governance policy for long-term customer trust and recognition. Being a Mentor Having experience of 20+ years in the hospitality industry, Raj has expertise in hotel operations, sales, revenue management, data analytics, and technology. He founded SYSOTEL intending to offer unique products that would help to attain a 100% success rate. During his tenure, he conducted several training sessions conducted on a regular basis. These sessions allowed the employees to put forth their inputs and opinions. Their valuable inputs and opinions made SYSOTEL grow even more strong. The team of employees is unique since they are from all the individual domain experts. The firm with all of its employees promises to understand the problem from the core then arrive at a cost-effective and apt solution.

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Ashutosh Sharma Founder

Aselector

Offering a Better Knowledge Management Platform

DECEMBER 2021

resently, Software as a service has attracted plenty of attention in terms of business and academic spheres. It is easily accessible via networking and Internet standards since AI and ML have made web-based applications more powerful and effective as a technology. This architecture mainly runs in a distributed network using virtual resources. Due to the increased demand for this technology, various companies offer cloud computing and SaaS solutions. Ashutosh Sharma, Founder of Aselector laid the foundation of the company in order to present an intelligent knowledge management platform. This platform offers customers self-help, chatbots, full cycle decision support, and knowledge management. This helps the staff follow the standard operating procedure, ensure consistency for customers, and reduces the burden on expert attrition which helps Aselector's clients serve their customers better and faster. This is a candid interview featuring Ashutosh Sharma, Ÿ

Brief us about the company.

selector is a SaaS-based technology company, which provides an intelligent knowledge management platform implemented as an interactive decision tree. We provide No code, interactive decision tree platform for customer self-serve as well as agent support. This platform can help achieve a significant reduction in support costs and improve customer satisfaction and first contact resolution. It is especially suitable for startups and mid-size companies that seek to improve customer service and reduce service costs at the same time. The product includes a built-in workflow and a real-time queue status to effectively manage various work queues. The platform has built-in AI to take automated decisions for customer requests based on various environmental (device. location, OS, local time, etc.) and supplied data sets. This helps achieve the most accurate and fastest resolution to queries, making it a highly effective tool. The interface is based on minimalist and just-in-time principles. It is also customizable to align with client branding and website guidelines. It can be set up and published in as little as a day with a no-code creation. Key distinguishing features include: 1. 2. 3.

Automatic decisions by the platform based on environment variables (device, time, location, etc.), user input, and API inputs. Keyboard navigation, which is a ﬁrst for webbased applications. A judicious mix of front and back-end technologies to provide a superfast user interface.

Very strong reporting with drill-down functionality in charts. Responsive end customer view, agent view as well as setup view. The whole application can be developed, conﬁgured, and set up from the mobile or tablet if the customer chooses. Strong state and time tracking for agents across queues. The application can also automatically change the skills of agents and perform line balancing across queues without manual intervention. Multiple displays and design options to conﬁgure the front end as per the client's preference and requirements.

What were the initial challenges you faced?

The initial challenge we faced was to build a powerful eﬀective platform that is easy to set up and customize; with help of AI technology and years of cumulative experience, we have successfully overcome the challenge and found the way to be a more agile, powerful, aﬀordable and stable solution for customer support which helps organizations deliver world-class consistent service at a lower cost. Ÿ

Which was that point that triggered the growth of the company?

With the pandemic impacting all industries, most companies had an impact on their customer service and shifted to work from home models. This creates a unique opportunity for digitization of customer support and a shift towards customer self-serve. As per a recent report, up to 81% of customers try to look for a solution online before contacting the company via traditional channels. Supporting agents in a non-oﬃce environment have also become a pressing need with reduced face-to-face pieces of training and coaching, highlighting the need for a more robust online knowledge management system. Ÿ

What is the reason behind your company's longstanding success?

Our vision is to enable organizations to achieve world-class customer service to their customers. Our platform enables our clients to deflect customer requests to online channels and reduce the interaction in traditional channels resulting in improved profitability while maintaining or improving their customer satisfaction scores. We aim to be at the forefront of the technological revolution in the customer service space across industries and emerge as pioneers in the field by establishing online self-service as a preferred mode of accurate and low customer effort resolution.

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What are the products/services the company focuses on? How are your services diﬀerent from those in the market?

We focus on customer self-service and agent support to provide consistent resolution for customers irrespective of the channel they use. We have a decision tree Chatbot and a full knowledge management platform with a built-in workﬂow for follow-up resolution to customer queries. We are uniquely positioned to support the full resolution cycle and don't just leave oﬀ after handling the initial request. Ÿ

How do you decide to take the company a step further in terms of your products/services?

The features development on the platform will be guided by client and end customer feedback and requirements. The objectives will be set by the clients, and we will apply our technology, AI, ML, and data science expertise to help achieve the objectives efficiently and intelligently. We believe omnichannel consistent experience with low customer effort is the way forward. Customers deserve to get the same resolution across any channel, and they should get the same resolution that is accurate and compliant. Our efforts are on creating a minimalist, efficient, and superfast interface which reduces clutter on screen and avoids confusion. The platform is built on a lean framework and just-in-time principles which are efficient and reduce unnecessary effort. Through data analytics, organizations can understand the reasons customers contact them and reasons for dissatisfaction. We are able to quantify the effort and therefore the cost to the organization of various issues in their processes and a clear line of sight into what needs to be worked upon to reduce the need for customer contact. The objective is that the client product and processes should be so clear and error-free that customers do not need to contact the company – except for giving compliments hopefully. Ÿ

Is there any new addition to the list of products/services? Anything exciting you would like to share?

There is a potential for the platform to grow into consulting and to add more future-looking features into the application with predictive analytics, voice recognition, and proactive actions based on expected failure points. These will be driven by how technology develops in these areas as well as which features would be preferred by the customers in the future.

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Can you please brief us about your professional experience?

Ashutosh Sharma, the Founder, comes with a vast experience of 25+ years in customer services across Telecom, ﬁnancial service, and manufacturing industries. He has led six sigma quality, analytics, transformation, and re-engineering teams. His expertise is in improving processes using data science, process design, statistical and lean tools for increasing end-customer satisfaction. We are also supported by very experienced consultants who can support client organizations based on their global customer service experience across industries. Ÿ

How do you look after your employees? What makes your team unique?

We believe that happy employees make happy customers. We focus on constantly upskilling our employees and encourage them to be involved in areas outside their main area of work. Our values of fairness, transparency, inclusion and excellence in a boundary-less culture enable us to value everyone's opinions and allow them opportunities to develop new skills. Ÿ

Which is the one person that you admire the most?

M K Gandhi is a guiding light, not just due to leadership qualities of bringing along everyone, but also coming up with an out-of-the-box, creative way of protest. Many countries have struggled for freedom, but he showed that a non-violent way can be equally or more eﬀective as a solution. Ÿ

Constant vigilance- a need or a strategy? Please share your views.

I believe vigilance should be as little as possible. The processes should be so reliable and consistent that audits or quality checks can be reduced. Quality control is a pure non-value-added activity for the end customer. If the product works ﬁne every time, it is up to the company to do quality checks or not. Vigilance and checks are built in to take care of errors, if you take care of errors, the need for quality checks can be reduced. Vigilance should be more on inputs rather than the output when processes are consistent. It is a need to ensure compliance in some areas, but the strategy should be to reduce it with eﬀective controls. Ÿ

It's a rat race out there. How do you cope with that?

We will work on creating value for the clients and hopefully the rest will take care of itself.

Software All S Owners Shou

t’s common for small businesses and startup owners to multitask painfully. Owners become accountants, bookkeepers, customer service reps, and marketers to keep their businesses running. And although this practice saves small ventures money, it can be tiring and, not to mention, frustrating!

If you’re a small business owner and you’re experiencing the same situation then you might consider automating some of your business practices. It’s time to use innovative, efficient, and useful business software. Let’s find out how software can change the way you run your small business. We will also focus on some of the top business software recommended for small business owners like you. Your Small Business Needs These 4 Software Programs Business software is a term used to describe software programs used to automate different business processes. While large companies and business enterprises commonly consider business automation, there is software that can benefit small business owners. For example, consider accounting software, bookkeeping software, communications software, and customer relations software. With business software, owners can enjoy the following benefits: Ÿ Ÿ Ÿ Ÿ Ÿ

More time to focus on developing their products and services. More money, eﬀort, and time to concentrate on marketing and advertising. Increased customer satisfaction. Fool-proof business tasks processed on time. More savings are available to spend on other aspects of a business.

DECEMBER 2021

Small Business uld Consider

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Aside from these benefits, you’ll experience an overall improvement in your business practices. For example, your staff can function seamlessly while your customers recognize your brand and trust your products or services. 1. Accounting Software Accounting software is the most common and most crucial available business software. This type of software can help business owners in time-consuming accounting tasks such as tax filing, cash flow maintenance, etc. Accounting software will automate these tasks to concentrate your efforts on growing your business. Almost all accounting software is available at a subscription with a limited free trial. Taking a free trial helps a company decide which software is the best for their business. Although there’s nothing wrong with manually completing accounting tasks, there’s always the possibility of encountering errors. And, of course, mistakes can be very costly for any business. So, avoid mistakes and focus on your small business better by adapting good accounting software. Accounting software is essential for the following business functions:

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Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ

Invoicing Tax ﬁling General ledger Cash ﬂow, trial balance Accounts receivable and payable Balance sheets Expenses statements Payroll

2. Bookkeeping Software With bookkeeping software, all your business financial records are kept and organized. This type of software is usually part and parcel of most accounting software. Like accounting software, it may offer a free trial. Manual bookkeeping is possible, but having software that can automate this process makes things more efficient and a lot less stressful. Therefore, this type of software is recommended, especially for small-scale businesses and first-time small business owners. In addition, you can better deal with issues if you have seamless software to use. Bookkeeping software can help you with the following: Categorizing transactions Create financial statements such as balance sheets Record bank statements and transaction

3. Communication Software Communication software helps teams connect and work on different projects and campaigns. In addition, this type of software allows you to disseminate information to your team to ensure that all your business processes are seamless. There are many communication software available online, each with varying features to offer. For instance, communication software like Slack allows you to assign projects for every team member. Slack lets you make direct messages to people and even add clients or customers as your connections. You won’t have to lose track of anything as everything you need is on one screen. Video communication software is essential for small businesses that need constant communication and collaboration. Software like Zoom helps you conduct meetings or conferences. Meanwhile, Skype lets you make voice calls and video calls for free. You can buy Skype credits and call landlines and mobile numbers as well. According to Digital Authority Partners, choosing the ideal communication software for your small business will depend on your needs and budget. Also, consider software that’s easy to use and available as a mobile application so you can communicate with your employees or staff anytime. Good communication software allows you to Ÿ Ÿ Ÿ Ÿ

Send direct messages to your team members Make voice calls Make video calls or meetings Communicate with your team even on the go

4. Customer Relationship Software or CRM

Customer relationship management software will help you with Ÿ Ÿ Ÿ Ÿ Ÿ

Centralizing customer and client data Converting your leads Increasing customer retention Automating marketing Improving revenue

Other Software Applications for Growing Businesses As your small venture evolves into a more established business, you’re likely to expand your service offerings or products. You may also take in other responsibilities to add more staff, branch out to different locations, or acquire more customers. To help you manage your growing business, you need software like the following: Data Protection Software Data protection software secures customer data and prevents hacking and other cybercrimes. Antivirus software, firewall, malware, and ransomware are just some of the most common examples. Payroll Software Payroll software automates employee compensation and other benefits. In addition, this software lets you track absences, tardiness, leaves, and other payroll-related concerns. Project Management As you take on more projects from different clients, you need efficient project management software so you won’t lose track of your projects. In addition, this software keeps you more organized and every team member working towards a specific goal.

Your customers are the heart of your business. You are nothing without your customers and clients, so you need good customer relationship software. CRM software gives you a better understanding of your customers’ needs and keeps track of customer interactions.

Final Words

CRM software is essential in digital marketing. It enables you to keep and manage customer data which you can mine for marketing ideas and strategies. CRM will automate your sales process and marketing eﬀorts so you can focus on other aspects of your business. Good CRM will also help you forecast sales and customer behavior for future campaigns.

With a small business digital marketing expert, you can improve your small venture using the latest tools and software. You can automate business processes, so you’ll have more time to focus on more critical tasks. Find the right business software to give you and your customers the best value.

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he next decade holds a lot of promise for the life insurance industry. The increase in the size of the global middle-class population, higher incomes, medical and healthcare inflation, and the heightened need for mortality protection have become the tailwinds for the life insurance industry. Awareness amongst consumers continues to rise and so do the business volumes. As of YTD August 2021, the industry has grown by 17% in terms of Individual New Business APE and the private sector has grown by 31% - and this is just the beginning. The future is rapidly changing with ever-evolving technologies that keep altering business and social landscapes. The only way we can be prepared is through relentless and disruptive innovations. As insurers, it is our responsibility to proactively drive the change we wish to bring about. Consumer expectations will pivot, and our value propositions have to keep up. Are protection or pure term plans truly vanilla offerings or can we spice them up a bit? Is savings in life insurance restricted to creating a financial corpus or can we also offer ecosystem solutions? Is the current buying journey adept or can we impress the customer by simplifying it further?

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Answering these questions by “thinking like a customer” will give us incisive insights into how the industry will shape up over the next decade. Here is a glimpse of what we can expect. Ÿ Vanilla is Passe: We must spice up our product suite to meet the needs of our customers. Millennials and Gen Z need products that can adapt to their changing lifestyle; bite-sized insurance or context-based insurance appeals to them. Imagine winning extra points for following a healthy lifestyle! Data from lifestyle apps, search engines, wearables, and other consumer devices offer invaluable insights into customer habits, which can help predict premiums. For e.g., fitness enthusiasts with a healthy exercise record may have to pay lower premiums compared to those with a high-stress job and an adversary medical history. Essentially, in 10 years from now, I foresee people buying insurance for a handful of rupees, which can potentially reduce further if the buyer is fitter than the 'average Indian'. An insurance policy could also be activated or deactivated at will.

Insuring a Bright Future for the Life Insur ance Industry! As bizarre as it may seem today, this seemingly large gap between “here and now” and “then and there” will most likely be bridged within the next few years itself. An Ecosystem Vs. A Corpus: With a view to offering customers a larger range of relevant products and services, many insurers are building the means to facilitate end-to-end buying experiences. Ÿ If retirement is the financial goal, setting up an ecosystem with retirement homes, delivery services, hospitals, and other such relevant services will help an insurer provide differentiated offerings to customers. Life insurers could offer 25 years at a retirement home, along with relevant services, instead of paying out annuities. Ÿ If the financial goal is providing for a child's education, tying up with educational institutions, hostels, packers & movers, and other relevant services will help an insurer ensure that the customer's goals are fulfilled. Offering an ecosystem solution is currently difficult to fathom, but it will change with time. This will also present insurers with forwarding integration opportunities, and it should not surprise us if insurance companies invest in schools, retirement homes, and the likes in the foreseeable future. Ÿ

KISS [Keep it Supremely Simple] For the Customer: A digital footprint is a reality. Financial health, medical health, social and political beliefs – everything has a digital trail. There are nine billion devices connected to the internet today, and in 10 years this number will only rise. We have to bring it all together and use it to make life simpler for the customer.

Documentation, health check-ups, underwriting can all be done by leveraging on the customers' digital trail – as soon as the customer gives their consent of course. Adhering to safety protocols and safeguarding the customer's privacy is a given. This is likely to lead to a productive role reversal. Instead of the customer sharing documents and insurers verifying them subsequently, insurers would now collate the necessary data to populate the application form, underwrite the policy, and eventually issue it. The customer simply needs to check the veracity of the facts and conﬁrm accuracy. Opportunities don't happen. We create them. There are endless possibilities to create bespoke products that make sense for the consumer, enhance the buying experience, and excite them. Imagine a hyper-personalized product that grants peace of mind for your lifetime. Imagine you securing for your life's certainties by simply saying YES – isn't that wonderful? Yes, it is! Is this transition easy? No, it is not! But then again, is this transition impossible? Most certainly not! Then, what will it need from us to ensure a bright future for the industry and its customers? It needs relentless inventions, innovations, and initiatives! The good news is that insurance industry practitioners recognize this.