Insurers and brokers remain apprehensive about the use of technology. While personal lines have begun to accommodate more tech-based platforms, insurers are afraid this will increase competition within this space, resulting in profit margins being squeezed. Conversely, brokers are failing to realize the benefits of technology and the increased efficiency tech-based platforms can bring.
Identify how brokers are utilizing technology for the distribution of commercial insurance products.
Gain an insight into the methods and platforms used by brokers to access products.
Discover how the e-trading model will develop over the coming years.
How does e-trading drive efficiency in commercial insurance product distribution?
Which are the best performing e-trading platforms?
How can brokers develop e-trading platforms to host a greater range of products and serve markets outside the micro enterprise space?
E-trading is a modern form of commercial insurance distribution designed for the sole purpose of improving efficiency in the product distribution process. Brokers can obtain comparative quotes from a panel of insurers across an expansive range of products with the single entry of a customers data into an e-trading platform.
Brokers are unquestionably becoming savvier about their e-trading. The adoption of e-trading is becoming more widespread as an increasing number of firms begin to move business into these channels. Weve already seen a significant shift towards the concept of e-trading, and in various different forms. The use of software houses is one of many.