(This is a recast of the LIVE webinar hosted by Insurance Nerds, and sponsored by ProNavigator)

The webinar discusses the critical decision-making process of whether organizations should build or buy technology solutions, emphasizing the importance of differentiation, talent management, and understanding organizational DNA to make informed choices.

[00:00](https://www.youtube.com/watch?v=GzGBP1721zQ&t=0.88) Discussion on the importance of deciding between building internally or buying technology
– Introduction to the topic of buy versus build and its significance}
– Panel discussion with experts on the decision-making process}
– Initiating the conversation on creating a framework for decision-making}

[07:06](https://www.youtube.com/watch?v=GzGBP1721zQ&t=426.36) The importance of differentiation in business strategy
– Struggling to define what makes a business different and special}
– Differentiation as a key pillar in building a business strategy}
– Considering technology as a true differentiator for competitive advantage}
– Exploring the advantage of buying technology for talent extension}
– Using buying to bridge talent gap in the short term}

[14:12](https://www.youtube.com/watch?v=GzGBP1721zQ&t=852.24) Comparison between building and buying technology solutions
– Discussion on using Facebook’s model for free and fast}
– Importance of being nimble as an organization}
– Focus on what differentiates the organization and avoiding distractions}
– Benefits of not using complex technologies like Kubernetes}
– Advantages of having a smaller development team for faster progress}

[21:21](https://www.youtube.com/watch?v=GzGBP1721zQ&t=1281.24) Managing vendors and learning how to think about new technology is about people with good critical thinking skills that can be trained effectively within the company.
– Discussion on the importance of having the appropriate staff for buy versus build decisions.}
– Emphasizing the need for training people to think abstractly and handle details when necessary.}
– Building a culture within the company for vendor management and third party risk management.}
– Highlighting the importance of critical thinking skills in managing vendors and new technology effectively.}

[28:28](https://www.youtube.com/watch?v=GzGBP1721zQ&t=1708.919) The decision between building or buying technology solutions can be challenging
– The hybrid approach of building or buying technology solutions}
– Balancing internal development with external solutions}
– Challenges faced by IT teams when buying technology}
– The hybrid approach as a solution that satisfies both parties}

[35:36](https://www.youtube.com/watch?v=GzGBP1721zQ&t=2136.96) Importance of iterative development and feedback in technology
– Apps on phones are built iteratively with feedback cycles}
– Technology rapidly changes, requiring constant iteration}
– Constant feedback loop is an advantage of digital technologies}

[42:42](https://www.youtube.com/watch?v=GzGBP1721zQ&t=2562.76) Comparison of costs between building and buying software
– Controlled costs and transparency in buying software}
– Underestimation of future costs in building software}
– Common errors in estimating internal labor costs}

[49:53](https://www.youtube.com/watch?v=GzGBP1721zQ&t=2993) Exploring the decision-making process between building and buying solutions for organizations
– Discussing the importance of understanding the organization’s needs and goals}
– Emphasizing the benefits of aligning with the organization’s culture and strengths}
– Warning against forcing solutions that do not fit the organization’s identity}
– Highlighting the significance of a clear business strategy for long-term success}