- Author(s):
- Mark A. Breading, Partner
- Publication Date:
- February 16, 2022
- Number of Pages:
- 17
- Price:
- $2,495.00 USD
The personal lines segment has been at the forefront of changes in distribution within the insurance industry. As new technology capabilities emerge and other trends come to light, personal lines distribution will face further disruption, requiring agencies and insurers to shift their strategies to compete in today’s market.
This SMA report provides actionable insights for carriers on distributor plans and expectations and offers research from a recent SMA survey of agency and broker executives focused on personal lines. The report looks at the expected changes in distribution, agents’ satisfaction in insurers’ digital offerings, how insurers should prioritize investments for twelve digital sales-oriented capabilities and thirteen servicing capabilities, and the potential impact of transformational technologies. The report ends with key recommendations on how insurers should strategize to meet the evolving needs of distribution partners.
Table of Contents
- Distribution Evolution for the Personal Lines Segment 3
- Business Drivers for Tech Investments 5
- Biggest Challenges for Investing in Tech Solutions 6
- Agency Satisfaction with Insurers’ Digital Offerings 7
- Digital Offerings for Sales
- Digital Offerings for Servicing
- Where Should Insurers be Investing? 11
- Tech Investment Plans for Digital Sales Capabilities
- Tech Investment Plans for Digital Servicing Capabilities
- Impact of Transformational Technologies 14
- SMA Call To Action 16
- About Strategy Meets Action 17
- Use of Our Reports
- About the Author