Mergers & Acquisitions
OneDigital’s Eye Towards Tech-Forward Innovation
OneDigital’s Eye Towards Tech-Forward Innovation
Our Purposeful Technology Evolution
To run a successful enterprise today, you have to keep an eagle eye on every rapidly growing technology field. What’s more, having an owner’s entrepreneurial mindset is the rocket fuel that can propel a company to success—when it’s maintained.
With the announcement of Jyoti Mokal joining OneDigital this week, we continue our expansion of “founder” level software development minds finding a home at OneDigital. This development at this period in our life cycle is not coincidental. We have been constructing workflows in a Microsoft Dynamics environment for over two decades, bringing efficiency to our processes as a benefits and HR consultant and outsourcing solution for other partner organizations. PWC and others estimate that our productivity advantage in this field is five to ten times that of a typical agency. For the better part of two decades, we effectively thrived within this model.
During what many consider the past two “covid” years, we have made strategic rotations into retirement and wealth, property & casualty, and PEO. Not surprisingly, our organic growth has doubled during this period as we cross-solve products with greater depth across a multitude of teams. At the same time, we have made the strategic decision to connect our platform to the outside world and build software to integrate services. This investment offers unprecedented potential.
Our mission is simple – become an analytical competitor and drive the invention of products and solutions for individual and institutional clients.
There will be a regular stream of announcements this year and beyond as we develop software within our subsidiary, Centro. With insurance and financial services occupying vast segments of our economy, it becomes daunting to consider the investments necessary to bring a modern, sophisticated experience to industries that have traditionally lagged for years. Our view is that solid partnerships combined with high levels of collaboration will allow for data to begin to flow much more efficiently, ultimately improving experiences for all parties we serve. We have a sharp focus on being out of the data entry business over the next two years. Yet, this is not about expense reduction in our operational areas. It is about creating insight via AI and machine learning that moves beyond simply relying on advisors. The implications to our business and industry are quite simply game-changing.
It’s been almost 23 years of building to get to this point at OneDigital. We are ready for a massive push into API connections with an endless number of partners. Ironically, my partner Adam Bruckman and I met 25 years ago at a PE-funded tech company looking to change the way employers purchase health and ancillary insurance. Little did we know that we were several decades too early and shareholders in the wrong company.