Leadership Spotlight: Jim Bologna of B-File System
B-FILE: B-File is a liability calculator that prompts multi-line insurance agents to have a scripted conversation to assess the customer’s liability protection needs. The system identifies future P&C cross-selling opportunities and Life and Retirement prospects, making it easier for the agency to identify all the missing items in the household.
Tell us something we won’t find about you on your resume?
I’ve been with Allstate for almost 20 years and have 70 million of retirement assets under management. Those retirement assets were gathered using my B-File process with Allstate insurance agents. For the last ten years I’ve qualified and been a top performer at the Million Dollar Roundtable. It’s a distinction held by less than 5% of professionals in our industry.
Beyond understanding financial services theoretically, I live and breathe it daily. I’m not just an expert sitting in an ivory tower – I’ve been working with multi-line customers, handing life insurance complexities, and using the same software systems as other agents. I’ve seen the obstacles faced by multi-line agents, and this insight has enabled us to develop a product that addresses their service requirements.
What is the most important business lesson you have learned in starting your company?
Have a vision for the problem you’re solving for but don’t cling too tight to your original business idea. The project’s scope is a good starting point, but things will always change.
The original wireframe for the B-File System had a completely different set of functionalities and options compared to what it boasts today. We knew we wanted to create a system that helped multi-line agents uncover opportunity. To do that, we had to build features that we hadn’t initially considered. We developed a product our customers now can’t live without.
My advice? Be humble, be ready to adapt, and embrace the evolution. It’s all part of the process.
My advice? Be humble, be ready to adapt, and embrace the evolution. It’s all part of the process.”
Teach us something about the industry.
For insurance and financial services, we’ve seen a shift from old-school legacy systems to cutting-edge tech. This has been in the last few years – so in some ways, it seems like the industry is catching up to the rest of the world.
This isn’t just a pivot – it’s an evolution toward more automation and technology. With AI emerging in so many different applications, we recognize the things we do today might not be needed tomorrow. In our industry, AI is helping the enterprises become more efficient and automated. And our software is right at that forefront, soaking in data from enterprises for future analytics.
Times are changing; companies are moving from big legacy systems to cloud-based operations. It’s not just about efficiency; it’s about cutting costs intelligently. This shift is making growth more accessible, not just on paper but in real, sustainable terms.
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