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B Y S T E V E
Rapid digital transformation is un- derway in the insurance industry, and automating a broker’s business
in two key areas is vital — distribution (e.g. the quoting process) and servicing.
As we all know now, digital tech- nology has created a different kind of insurance consumer, one who expects immediate access to information and
W H I T E L AW, Vice President, Industry Relations, Applied Systems
handbook HIGHLIGHTS Deal Tracker p.37 l Canada’s Catastrophe Risk p.37
DIGITAL TRANSFORMATION
Driving connectivity
Brokers looking to achieve better connectivity with their insurer partners should focus on two core areas of their business
real-time customer service. It’s now crit- ical for brokers to leverage technology to automate the exchange of information between brokerages and insurers.
The collaboration of all industry stakeholders — including standards bodies, working groups, software pro- viders, insurers, and brokers — is es- sential to create connectivity and data
exchange solutions that drive efficiency throughout the entire policy lifecycle.
Let’s delve into how further auto- mation in the areas of distribution and servicing will enhance the value propo- sition for the independent broker chan- nel, thus ensuring that brokers provide the right product and service at the right price and time.
canadianunderwriter.ca | February 2020 35