Viewing entries written by Heather Turner
Roadblock Ahead! MGAs’ Digital Plans Encounter Technology and Cultural Hurdles
Positioned at the intersection of retail agents/brokers and insurers, Managing General Agents (MGAs) and Managing General Underwriters (MGUs) have unique vantage points in the distribution ecosystem. As the MGA/MGU channel grows, these companies are investing in technology solutions to support the customer experience for agents/brokers and policyholders, as well as...
Personal Lines Insurers’ Post-Pandemic Transformational Tech Plans
The COVID-19 pandemic was a catalyst for technological change across the insurance industry, especially within personal lines. Customers demanded virtual and digital interactions, so insurers responded by accelerating the development and investments in transformational technologies. Although it may not be accurate to classify our current era as post-pandemic, insurers have...
Are Transformational Tech Plans Still Important in Commercial Lines Amid Economic Turbulence?
Commercial lines insurers have endured their fair share of ups and downs since COVID-19 was declared a global pandemic over two years ago. And through the course of 2022, geopolitical conflicts and inflation have rocked economies, leading to further uncertainty about the stability of markets worldwide.
The Evolution of MGAs: Strong Relationships Are No Longer Enough
Today's Managing General Agencies (MGAs) and Managing General Underwriters (MGUs) look vastly different than they did ten years ago. The InsurTech boom brought new tech capabilities to the space, including digital and analytics platforms, that have evolved the services MGAs/MGUs are able to offer.
2022 Channel Strategies: P&C Agencies are Ready to Break from the Status Quo
The distribution landscape is evolving, and retail agencies and brokers are rethinking their channel partner strategies just as carriers and others across the distribution landscape do the same. Although carriers will always remain underwriting partners, more agencies are exploring new channel partners in the distribution ecosystem to ultimately reach customers...
Progress and Pause: Transformational Tech is Changing in Personal Lines
Policyholders faced innumerable challenges within the past two years, resulting in unprecedented changes to their consumer behavior. Personal lines insurers responded swiftly to meet insureds’ new and evolving needs. They went all-in on digital self-servicing capabilities for customers, agents, and employees, but recent market activity suggests that insurers’ top technology...
Full Steam Ahead? Commercial Insurers Are Shifting Their Transformational Tech Priorities
It is difficult to imagine where digital business operations would be today if it wasn’t for the catalyst that is the pandemic. For nearly two years, businesses across industries, and especially within insurance, accelerated digital transformation plans to adapt to remote access for customers and employees.