John Simpson: The Man Who Blended Impeccable Insurance Services with Cloud Technology
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Insurance seems to be a dreary and dreadful topic of discussion. No one wishes to discuss insurance, yet everyone needs it for leading life peacefully. The process itself seems to be quite complicated and intricate. Patra, a one of its kind company, infused technology into the complex insurance world to simplify it. And the brain behind this amazing move is none other than that of Mr. John Simpson. Under his esteemed leadership, Patra made its way to Inc 5000 Fastest Growing Companies for five years straight.
The CEO and founder of Patra left no stone unturned since he established the company back in 2005. Now it has developed into a full-fledged company with around 4200 employees across the globe. John skillfully steered the company’s way to growth and proliferation by using his in-depth knowledge of efficient internal systems. He has more than twenty years of experience in working with reputed technology-based companies.
IDEA BEHIND FORMATION OF PATRA
Patra is the brainchild of Simpson. Patra is a leader in the insurance industry, bringing technology-enabled services to our industry. Their mission at Patra is the blend the very best of cloud-based technology and insurance process experts to provide highly efficient workflows to our clients that drive revenue, increase customer engagement and provide a long-term platform for sustained growth. At its core, the insurance industry is still about providing financial solutions to individuals or organizations to ensure safety and security. It is about finding the right match for financial coverage that meets the risk profile of those providing the insurance product. In John’s eyes, what has changed in the insurance industry is how people shop for a competitive product and how those products are created to optimize every aspect of the insurance lifecycle. Big Data, paired with automation and the advancement of cloud computing, digital workflows, and AI, have enabled companies to create, sell, and support policies and interact with customers faster and at a lower cost. Technology and its advancement have truly transformed how Patra does our work, even if insurance is still a relationship-based industry.
SIMPSON’S ENTREPRENEURIAL JOURNEY
John, from the very beginning, has been entrepreneurial. When he was merely eight years old, John used to sell “Grit Newspaper” from door to door. He has been ahead of his time by trying to bring to the table solutions for issues that have not been solved yet. He has tried his luck in multiple companies with different business ideas. His unique business ideas are online resolutions for accelerating the usage of electronic bills, e-registry solutions for different occasions and stores, PDA devices for lawyers and consultants for easy tracking, an online babysitting trading platform, and many more. He kept experimenting until he finally hit the jackpot with Patra.
SUCCESS HABITS THAT DEFINE SIMPSON
John Simpson believes in the power of observation and always asks, how could something be better than it currently is. He also thinks a lot and runs through scenarios in his head on how things will play out. John believes in creating his success.
THE MAKE-OR-BREAK SITUATIONS IN SIMPSON’S CAREER
The worst nightmare for John was just two weeks before CyberBills going public. The dot-com market crashed badly, and ultimately, he had to sell out CyberBills.
Also, his internship at Kay Jewelers corporate headquarters was indeed a defining moment for Simpson. He considers it as his “make” moment since he learned a lot from experienced mentors. He worked with the company for about seven years and understood the $400M company from the inside out.
Another “make” moment for John is when he started a company with a single strategic investor. The investor guided him to explore this uncharted territory and showed immense patience until he took the company to a certain level of growth and development.
BIGGEST CHALLENGE FACED TO DATE
Like other major companies, Patra also faced the severe impacts of COVID-19. From customer engagement to global workforce deployment to employee satisfaction and being aware of burnout and stress of all our employees worldwide. Patra has overcome the initial disruption because Patra has been a remote-based workforce for years, well before COVID. That long-term business success in managing employees remotely meant that COVID didn’t disrupt how they do their work. It allowed Patra to focus on their customers and how they’re dealing with massive, ongoing disruption in that Patra could fill the gaps they experienced in their day-to-day operations.
BIGGEST RISK TAKEN BY SIMPSON
Leaving Healtheon, a Jim Clark startup to start CyberBills. It was a significant risk as Healtheon was on the path to becoming a public company and ultimately became WebMD. But John had to follow his dream of owning his own business, and the time was right to launch his ideas.
FUTURE GOALS FOR PATRA
John’s goal is continued growth and tapping into markets that have not yet embraced the evolution in insurance by using technology-enabled services to streamline their business. Along with his executives, they are looking 5 to 10 years down the road to identify areas in the insurance lifecycle where they can invest , identifying underserved markets through tech-enabled services, and ensuring that their existing customers maximize their investment in Patra.
COMPANY CULTURE – THE BIGGEST PRIDE FOR SIMPSON
Patra has around 4200 employees around the globe. Simpson is immensely proud that he has maintained a company culture that keeps these 4200 staff members happy, satisfied, and motivated. At Patra, each employee feels loved, empowered, and cared for, which is why they deliver their best every single time. Over the last 15 years, he has been fortunate enough to build an executive and management team that has enabled Patra to grow and succeed regardless of the challenges the industry has thrown at them and through social-economic and environmental challenges they have faced. Leaders from all levels of his organization are unified in putting people first, acting with integrity, honesty, and respect, and doing what is right for our customers and company.
INDUSTRY DYNAMICS AS PER SIMPSON’S POINT OF VIEW
John believes that the insurance industry still serves as a financial solution for organizations or individuals and offers them safety and security. However, the way clients choose those insurance products has altered manifolds. Big Data, paired with automation and the advancement of cloud computing, digital workflows, and AI, have enabled companies to create, sell, and support policies and interact with customers faster and at a lower cost. Technology and its advancement have truly transformed how Patra does its work, even if insurance is still a relationship-based industry.
A GLIMPSE INTO THE PERSONAL LIFE OF JOHN SIMPSON
Spending quality time with family and friends is the greatest pleasure in John’s life. He prefers hanging around in the picturesque San Francisco Bay region, Lake Tahoe Basin, and the States Capitol with his loved ones. Enjoying the culture, delectable food, and witnessing the panoramic sights make him feel immensely grateful for his life.
Also, he chooses casuals over formals when it comes to his attires. This choice of outfits is inspired by the thought that formals slightly intimidate people. He prefers to keep it simple and stay on the same level while communicating with his prospects, customers, and employees. He consistently portrays what he is. John Simpson believes that everyone should wear clothes that make them feel comfortable and empowered simultaneously.
A FEW PRECIOUS WORDS OF ADVICE FOR THE READERS
CEO John Simpson advises the youth across the globe to put their best foot forward in whatever roles they are playing right now. Also, he believes that putting in some extra effort can indeed go a long way in the future. Every youth should work so tirelessly that people around can’t help but rely on him entirely. This is the only key to rise through any organization. It is not at all easy orstraightforward to make it big in life. It takes a lot of patience and extreme dedication, and hard work to rise and shine.