By Phil Bilney, Partner at +8 Insurance Partners
Innovation is a constant in every industry—and insurance is no exception. At +8, we keep a close watch on emerging trends, but our approach is grounded in pragmatism. Here’s how we think about technology, what excites us, and what we’re staying cautious about.
Yes, We’re Watching AI (Of Course)
It would be rude not to mention AI—especially since it’s likely the reason this question came up in the first place.
And yes, it’s an obvious answer, but there really isn’t anything else right now that comes close in terms of potential impact. From streamlining processes to improving service delivery, AI is at the center of most meaningful conversations about where insurance—and business more broadly—is heading.
How We Evaluate New Tech at +8
In our portfolio, we adopt a clear and simple filter: pragmatism and usability.
It’s easy to chase every new piece of software or platform that promises breakthrough functionality. But doing so often leads to clutter, confusion, and wasted time—especially when those tools don’t integrate well or solve real problems.
At +8, any new tech needs to do a few key things:
- Address multiple real needs, not just one niche use case.
- Offer immediate, meaningful value to how we work.
- Simplify, not complicate, day-to-day workflows.
We’re not an InsureTech startup—we’re a broker with an established position in the market. That gives us both an opportunity and a responsibility to move thoughtfully, not reactively.
AI’s Real Potential—and Real Challenges
There’s a lot of noise around AI. But underneath the hype, there are real opportunities—particularly in handling large volumes of data, automating repetitive tasks, and improving how we present information to clients and partners.
That said, progress might be slower than many expect. And one real concern is the environmental impact. The energy demands behind AI’s development and deployment are significant, and that deserves more attention as the space continues to grow.
Disruption on the Horizon? Not Quite
We’re seeing plenty of innovation—especially at the task or niche level. There’s no shortage of clever tools for underwriting, claims processing, or client communication.
But has anything emerged that’s a true game-changer across the entire insurance industry? Not yet.
There’s progress, yes—but nothing we’d call a full-scale disruption. And that’s fine. Real, lasting change in this sector tends to be steady and cumulative, not sudden.
One Piece of Tech I’d Actually Miss
While we’re on the topic—on a more personal note—I wouldn’t want to give up my Garmin running watch anytime soon. It’s a small example, but it’s a reminder that the best tech is often the most functional and reliable. That principle applies just as well at work.
Final Thoughts
In a market full of noise, clarity matters. For us, the test for any new technology is simple: Does it make us better at what we already do well? If the answer’s yes, we pay attention. If not, we move on.
Innovation is important—but execution is everything.
