Agent & Broker

78% of digital transformation efforts fail to drive desired results due to poor planning. Here are some steps that will ensure success.

Agent and Brokers Commentary: July 2022 

"Many agencies will say, well, we have two policies per client, so we've done a really good job because the industry average is around 1.62. But if my agent only has two policies with me, he's left well over half my business on the table."

Insurers and accountants have similar concerns on behalf of clients, so the more agents and CPAs collaborate, the better. 

ITL FOCUS is a monthly initiative featuring topics related to innovation in risk management and insurance.

This month, we're focusing on Agent and Broker. 

There's a ton of information that agents can bring to the table based on what they know about customers. Companies spend loads of money buying data about customers that, in most cases, isn't that great. We're all trying to figure out who this customer is – and the agent likely knows it. So, is there a way that you could pay agents for good data?

With the heavy focus on premium costs, the market has overlooked the very real cost of foregone economic value caused by insurance collateral requirements. 

Creating ready-to-go materials for severe weather events that can be used when a disaster arises will streamline processes.