Author(s): |
Mark A. Breading, Partner |
Publication Date: March 7, 2023
Number of Pages: 14
Price: $1,495.00 USD
The distribution landscape in the mid and large commercial lines segment is continually evolving as carriers invest in ways to improve agent/customer experience, increase efficiencies, and grow market reach. Many carriers are achieving these goals by offering new digital capabilities to distribution partners, particularly agents and brokers.
This new SMA research report reveals the findings from a survey of agency and broker executives, providing actionable insights for carriers on distributor plans and expectations in mid/large commercial lines. Some key findings include the current state of automating business with carrier partners, agents’ satisfaction with insurers’ digital offerings, and the areas where agents and carriers are most and least aligned regarding investment priorities across digital sales and servicing capabilities. Finally, the report recommends how insurers can succeed amid a quickly changing distribution technology landscape and evolving expectations of retail agencies and brokers.
Table of Contents
- The Evolution of Mid/Large Commercial Lines Distribution 3
- Current State of Mid/Large Commercial Lines Automation 5
- Business Drivers for Technology Investments 6
- Agency Satisfaction with Insurers’ Digital Offerings 8
- Digital Offerings for Sales
- Digital Offerings for Servicing
- Where Should Insurers Invest? 10
- Tech Investment Plans for Digital Sales Capabilities
- Tech Investment Plans for Digital Servicing Capabilities
- SMA Call to Action 13
- About Strategy Meets Action 14
- Use of Our Reports
- About the Author
