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Author(s):

Deborah M. Smallwood, Senior Partner

Mark A. Breading, Partner

Publication Date: December 14, 2022

Number of Pages: 13

Price: $1,495.00 USD

Insurers focused on the mid-market and large commercial segments show no signs of slowing down their distribution evolution journeys. As new partnerships, distribution strategies, and technology capabilities emerge, executives are adapting and experimenting with new approaches to distribution. At the same time, traditional channels of expert agents and brokers remain essential to the success of mid/large commercial lines insurers.

This SMA report features new research from a survey of executives on the current state of digital capabilities for distribution partners, the challenges of deploying new capabilities, and carriers’ plans to put new digital capabilities into the market. Other insights in the report include where insurers are prioritizing investments across eighteen digital capabilities related to sales and seventeen digital servicing capabilities. The report ends with SMA's recommendations for carriers seeking to grow their mid/large commercial lines business.

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Table of Contents

  • Distribution Evolution for Mid/Large Commercial Lines 3
  • Business Drivers for Tech Investments 5
  • Biggest Challenges for Investing in Distribution Solutions 6
  • Technology and Business/Cultural Barriers
  • Challenges That Inhibit Right-Fit Submissions
  • Digital Offerings to Agencies 7
  • Digital Offerings for Sales
  • Digital Offerings for Servicing
  • Top Tech Investments for Distribution 9
  • Tech Investment Plans for Digital Sales Capabilities
  • Tech Investment Plans for Digital Servicing Capabilities
  • Tech Investment Plans for Distribution Management
  • SMA Call to Action 12
  • About Strategy Meets Action 13
  • Use of Our Reports
  • About the Authors