For decades, agents and brokers have long been the channel of choice for P&C, L&A, Group and Voluntary Benefits insurers. This traditional channel landscape, however, is rapidly shifting and changing. Customer behavior and expectations, for both consumers and business owners, are forcing insurance companies to set up multi-channel distribution options to enhance customer interactions on the customer’s terms … not the insurer’s.
Customer expectations are shifting to a multi-channel world, challenging insurers to provide channel options and choice across the entire value chain. In addition, new channel options are rapidly emerging, such as marketplaces, embedded insurance in other businesses, comparison sites and direct distribution. As a result, distribution channel strategies, including how to support the traditional agent/broker channel, are a focus for transformation in the age of Digital Insurance 2.0, and are foundational to an insurer’s ability to realize their growth and innovation strategies.
- Reach Customers When They Are Motivated
- Enhance Traditional Channels with Digital Capabilities
- Build an EcoSystem to Achieve Distribution Mastery