Today, an insurer’s digital strategy includes ways of using data and technology to manage the distribution channel more effectively and, in doing so, improve the agent experience.
Big isn't always best, and the most highly compensated agents and agencies are not always producing the most profitable business.
Data is only useful when it's clean and well organized. It also needs to be accessible and rich enough to be useful.
Insurers have long desired more information about all links in the customer chain but have been limited by the nature of their relationships with producers and customers.
The most important element of an effective data-driven program is its ability to identify and understand users and their needs, many times through non-obvious indicators.
Insurers are wrestling with four major changes, including shifting the focus from paying from to preventing loss, moving toward becoming a technology innovator, putting a greater reliance on partnerships and a placing greater emphasis on engagement.
