The Insurance Times broker e-trading survey results are in. Polaris' Simon Bloomfield comments on brokers responses and highlights key areas of focus for the market.
Polaris has been a supporter of the Insurance Times e-trade survey for many years and has an ongoing relationship with the publication, to help them structure questions that will give the best insight to the market on where to focus within their e-trading operations. Broker participation in the survey has increased every year, with an all-time high of 854 responses this year.
Simon Bloomfield, Head of imarket, gave his thoughts to Insurance Times on what the survey is telling the market and where the key areas of focus might be over the coming year.
A snippet from the article.
It remains important that brokers make it explicit to their insurer partners how they want to trade with them and if there are any consequences of them not being available through their chosen route.
For insurers to deploy products on different platforms there are inevitably costs involved and with competing development priorities, the business case for deploying a new product needs to compare well against the other opportunities insurers may have for spending their digital development budgets.
A compelling business opportunity where an insurer can see a route to getting additional revenue is going to support brokers in getting the distribution solutions they want.
Click here to read the full article (Insurance Times subscription required).