P&C Agency Distribution: Digital Strategies and Plans for Small Commercial Lines in 2022

Mark A. Breading, Senior Partner
Publication Date:
February 3, 2022
Number of Pages:
$2,495.00 USD

The distribution space has changed dramatically in recent years and will continue to evolve as digital transformation shapes the future of insurance. Retail agencies and brokers see the change and are responding with fresh strategies to not only survive but thrive in this new environment, especially those working in the small commercial segment. Recently, SMA surveyed agency and broker executives focused on small commercial lines to understand how they invest in technology and whether they believe insurer partners are delivering on their technology needs. 

This SMA report, which provides insights and actionable takeaways for carriers on the distribution lens, first examines how satisfied agencies and brokers are with insurers’ functional sales and service offerings. The research then features agencies’ feedback on where insurers should prioritize technology investments across twelve different digital sales-oriented capabilities and thirteen servicing capabilities. It concludes with how transformational technologies may positively or negatively impact distribution in the coming years.

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Table of Contents

  • Distribution Evolution for the Small Commercial Segment 3
  • Business Drivers for Tech Investments 5
  • Biggest Challenges for Investing in Tech Solutions 7
  • Agency Satisfaction with Insurers' Digital Offerings 9
  • Digital Offerings for Sales
  • Digital Offerings for Servicing
  • Where Should Insurers be Investing? 12
  • Tech Investment Plans for Digital Sales Capabilities
  • Tech Investment Plans for Digital Servicing Capabilities
  • Impact of Transformational Technologies 15
  • SMA Call To Action 16
  • About Strategy Meets Action 17
  • Use of Our Reports
  • About the Author