In a recent episode of Unstructured Unlocked, Wendi Bukowitz, Director of Strategic Innovation at The Cincinnati Insurance Companies, shared her insights on the evolving landscape of innovation in the insurance industry. Wendy brought a wealth of experience to the discussion, having worked across various roles in both primary carriers and reinsurance. In her current role, she leads innovation initiatives that are transforming the way The Cincinnati Insurance Companies approach customer service and operational efficiency.
Listen to the full podcast here: Unstructured Unlocked season 2, episode 12 with Wendi Bukowitz of The Cincinnati Insurance Companies
Redefining innovation: Focus on the customer
At the heart of this conversation was the idea that innovation, especially in the insurance industry, requires more than just technological advances—it also demands a shift in mindset and processes. As Wendi explained, innovation is about “delivering value to customers by creating new products and services in a sustainable and profitable way.” This customer-first approach ensures that innovation efforts are focused on addressing the real needs of both insureds and agents.
While many companies view innovation as a way to create new products and services, Wendi emphasized the importance of putting the customer first in this process. By focusing on delivering value to the customer, The Cincinnati Insurance Companies ensure that their innovation efforts align with the needs of the people and businesses they serve.
Wendi noted that her team actively engages with both agents and policyholders to better understand their challenges. This customer-centered approach helps the company uncover opportunities that traditional processes might overlook. “We’re not starting with what we want to do, how we want to grow… we immediately set that aside and go out into the market… and try and understand their problems, how we can create value for them,” Wendi said.
Related content: Increase speed and accuracy in policy issuance for stronger business results
The intersection of AI and operational efficiency
During the podcast, Wendi discussed the role AI plays in improving both customer outcomes and internal operations. While AI is often associated with front-end processes like underwriting or claims processing, Wendi pointed out that it also has a significant impact on operational efficiency behind the scenes.
For example, AI and automation tools can help reduce the burden of administrative tasks on employees, freeing them up to focus on higher-value work. “I think [AI] has fundamentally changed the way we think about innovation… I just was having a discussion yesterday where we were talking about offering a credit for something… And I’m able to say, ‘Yeah, I don’t think that you should have your underwriters collecting anything and looking at anything. I think this is exactly what our intelligent automation team that’s working on AI should be doing,’” she explained. This type of automation allows insurers to maintain high levels of efficiency without overburdening their staff with manual tasks.
Indico plays a similar role in the insurance industry. By using enterprise AI to automate unstructured document processing, Indico enables insurers to process claims, handle customer requests, and manage compliance more effectively, ensuring that teams can focus on strategic initiatives rather than routine paperwork.
Fostering collaboration between teams
Another important point Wendi discussed was the need for collaboration across different teams within the organization to successfully drive innovation. At The Cincinnati Insurance Companies, innovation isn’t limited to a single department. Instead, associates from various departments come together to work on innovation projects, bringing diverse perspectives to the table.
The goal is to ensure that innovation is not just a top-down initiative but something that involves employees at all levels of the company. Wendi shared, “…We might have as many as 20, 25 of our associates coming offline for various levels of investment to work on things. And this is a multiplier effect with the coaches… We’re getting the work done, but we also want to give our associates a professional development experience. And this is my long-term vision, which is as these associates go out into the company, as some of them stay with us and get promoted, the understanding of what innovation is and how it works as they become managers, becomes something different.” By empowering employees to participate in innovation efforts, The Cincinnati Insurance Companies foster a culture of continuous improvement and experimentation.
This collaborative approach aligns with Indico’s philosophy as well. When deploying AI solutions, the most successful outcomes are often achieved when multiple teams—whether in operations, customer service, or IT—collaborate to ensure the technology is implemented in a way that meets both strategic and practical needs.
Related content: Deliver personalization at scale to improve customer retention and satisfaction
Innovation is about persistence
Perhaps one of the most valuable lessons from Wendi’s interview was the importance of persistence in innovation. She acknowledged that not every attempt at innovation is successful right away, but that doesn’t mean the effort should be abandoned. Often, as Wendi explained, the problem may lie in the timing or the market conditions, not in the idea itself.
Wendi had this to say about her experience with breaking into the commercial property water damage market: “Okay, so there was a desirability problem. There was a viability problem. Now from a feasibility problem, the technology kind of worked… And so we tried this, we tried [that], and we just couldn’t get anywhere… It just didn’t work. I kept saying, no, no, the problem, we still want to solve the problem. We just haven’t been able to do it… fast forward, the business model changed… now it’s water monitoring as a service… the economics all of a sudden start to shift.” She illustrated how staying focused on solving the right problem can eventually lead to the conditions for success.
The future of innovation in insurance
As the insurance industry continues to evolve, the role of AI and automation will only become more critical. Wendi Bukowitz’s insights on this episode underscored the need for a strategic approach to innovation that prioritizes customer value, operational efficiency, and collaboration. By focusing on these principles, insurers can unlock new opportunities and stay ahead of the curve in an increasingly competitive market.
For companies like Indico, these trends are especially relevant. With enterprise AI solutions designed to enhance decision-making, streamline processes, and improve customer service, Indico is positioned to help insurers navigate the challenges and opportunities of the future.
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Frequently asked questions
- How does The Cincinnati Insurance Companies measure the success of its innovation initiatives? The Cincinnati Insurance Companies measures the success of its innovation initiatives by looking at both quantitative and qualitative metrics. Quantitative measures include improved efficiency metrics, such as reduced processing time for claims or administrative tasks, and enhanced customer satisfaction scores derived from feedback. Qualitatively, success is gauged through employee and customer feedback on new services, products, and processes. If these innovations meet customer needs and improve overall satisfaction without negatively impacting operations, they are considered successful.
- What challenges has Wendi Bukowitz encountered in shifting the company’s focus toward a customer-first innovation approach, and how were they addressed? Wendi Bukowitz has faced several challenges in advocating for a customer-first innovation approach, especially in an industry that traditionally relies on established processes. One of the primary obstacles was changing the mindset of teams used to working within conventional frameworks. To address this, she emphasized continuous communication about the value of this approach, engaged teams directly with customers to observe pain points firsthand, and gradually introduced small changes before larger-scale implementations.
- What specific role does employee training and development play in implementing AI-driven processes at The Cincinnati Insurance Companies? Employee training and development play a crucial role in the successful adoption of AI-driven processes at The Cincinnati Insurance Companies. Training helps employees understand AI tools and automation technology, reducing apprehension about AI replacing roles. Development programs ensure employees see these tools as support systems that enhance their responsibilities, allowing them to focus on high-value tasks. Through workshops, mentorship, and real-time coaching, employees are empowered to leverage AI in ways that align with both personal and organizational goals, making the integration process smoother and more effective.
