How Digital, and the People That Power It, Is Changing the Insurance Game

Insurtech and Innovation: A Q&A With Hemanth Sampath

Read our conversation with VP of Strategic Partnerships at Assurant, Hemanth Sampath, where he talks all things Insurtech and how Assurant is innovating renter solutions.

What’s your role at Assurant?

I lead affinity sales as VP of Strategic Partnerships for Assurant’s Global Housing business. My team’s role is to establish B2B partnerships in new market segments that we don’t currently reach through our traditional line of business sales. For example, the Renters Solutions team is focused on property management companies for renters insurance and security deposit solutions. We similarly promote additional product lines, like condo and manufactured housing, in certain market segments.  

So, the goal for affinity sales is to uncover new and nontraditional channels (like InsurTech, FinTech, PropTech) so that we can reach additional customers and offer them multiple Assurant products. We do this by researching and monitoring the market and competitive landscape. We then apply those insights by making changes to our products, our processes, and our capabilities to better serve and compete in multiple market segments. 

Personalized experiences have emerged as a critical facet of modern business strategies. According to a survey by SalesForce, 84% of customers say that being treated like a person, not a number, is crucial to winning their business. And Accenture reports that 91% of consumers are more likely to shop with companies that recognize, remember, and provide relevant offers and recommendations. When it comes to product service and repairs, taking a personalized approach can save your program money on a transactional basis, improve customer satisfaction scores, and decrease post-claim product churn relative to replacement.