Kaus Insurance Finds Success with 30-Year Record

 

The Kaus Insurance Group was established in 1985, and the success that followed has been nothing short of amazing. In fact, the Kaus Insurance Group boasts an A+ rating with the Better Business Bureau, as well as with the City of Chicago. But while they’ve had plenty of success over the past 30 years, they still feel like they’re falling behind due to technological advances. Now, they’re seeking new ways to incorporate technology into their business in order to take their insurance company to the next level.

 

How Kaus was built

Kaus Insurance Finds Success with 30-Year Record

Four decades after its founding, Kaus Insurance is still a market leader in auto insurance. The company survived multiple economic downturns, regulatory changes and countless other disruptions that would have sunk a less resourceful enterprise. But then along came technology – and suddenly things weren’t so rosy for Kaus. As venture capitalists poured billions into tech startups, it was hard not to notice how many drivers were shunning traditional insurance companies for their upstart digital counterparts. Fearing obsolescence, Kaus scrambled to adapt. It’s been difficult, says CEO Catherine Warren-Jones.Our competition has become much more formidable in recent years.

 

The decision to shift from non-insurance products

 

Kaus Insurance started in a small way and quickly grew to become one of America’s largest regional insurance companies. Today, however, Kaus faces increasing pressure from larger insurance companies and is attempting to maintain their edge by shifting focus from non-insurance products back to more insurance products. They have found success so far, seeing increases in income that exceed 10% each year.

 

How to train employees in new technologies

 

There are a few ways to go about it. If you’re looking for a faster way to push out new tech, consider outsourcing parts of your training process or using an off-the-shelf solution. You can also hand some of your tasks over to your employees, so they can become familiar with processes on their own—so long as they follow instructions closely (and don’t take too many shortcuts). This approach offers two benefits: It gets you more time back in the day to focus on other projects, and it helps empower new hires by giving them a role in shaping their jobs. When done right, both of these things should help increase employee retention and make them happier overall.

How digital devices help

 

Kaus Insurance was founded in 1983 and has been a pioneer in B2B, direct sales insurance ever since. In fact, we’ve won many awards and were listed as one of The Best Companies to Work For by The Dayton Business Journal every year since 1995. If you ask our customers why they choose us time and again, they all say that it’s because we provide them exceptional customer service. Our agents are friendly and knowledgeable; they answer their phones right away and are there to assist you when you need help.

What can other companies learn from this?

 

It’s important to remember that your age, size and history don’t matter when it comes to how you react to changing technologies. Because Kaus is a small business, they knew they wouldn’t be able to compete head-to-head with major companies like Google, so they decided to focus on what they could do best: their customer relationships. They decided that no one else could deliver a better experience than them. They still have an outdated website but they’ve developed some pretty cool apps that connect their customers on all levels of their relationship. The developers behind these apps worked closely with Kaus’s longtime clients and even encouraged them to provide feedback while they were building each app.

Next steps for Kaus Insurance

 

Kaus Insurance is feeling a bit stuck. Just as changes in technology are helping B2C insurance companies grow and succeed, changes in technology are hurting B2B insurance companies. While Kaus still has a respectable share of their market, they’re starting to see growing competition and increasing pressure from shareholders. In addition, their price list hasn’t been updated since 1995. If they want to remain competitive in 2016 and beyond, they’re going to have start focusing on technological advances.

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