In a recent vFormation webinar, Mike Jackowski, CEO of Duck Creek Technologies, spoke with Jamie Roser, Chief Information Officer of Berkshire Hathaway Specialty Insurance, to discover more about the philosophy behind the company’s success.
In eight years, Berkshire Hathaway Specialty Insurance (BHSI) has grown from a small start-up to one of the fastest growing commercial specialty insurers in the industry. Writing more than 200 products globally – 160 of which are running on Duck Creek Policy – the company thrives on its principle of CAPDAN – Common As Possible; Different as Necessary.
This vital frame of mind has been paramount to the growth of BHSI, especially considering the difficulty of projects like these. As Jackowski pointed out, by setting a clear strategy that was differentiated by product innovation, as well as leveraging relationships with distribution channels, having clear governance, and being efficient, the business has been a success.
“The decisions we frame for the business are about setting us up for the future,” Roser said. “From needing a system that was smart enough to know where users were located in the world, to using the Software as a Service model and adopting the cloud so we can stand up with a product very quickly; our journey is about focusing on the needs and leaving the wants behind.”
But it isn’t just this attitude that drives the company forward. As Roser explained, it’s all about the corporate philosophy: simplicity over complexity. From using Duck Creek Insights – what Roser refers to as the “single source of truth” – to being able to analyse data and loss runs, the team has been able to learn, adapt, and grow.
“We will continue to drive efficiency, making better decisions faster, aggregating pricing models, and making sure price reflects the risk,” Roser said. “Our journey is underway, but we’ve still got a long way to go.”
Watch the full vFormation video here.