Industry forces are reshaping distribution management, from shifting customer expectations to driving reach and scale in a multi-channel world.
Millennials and Gen Z are now the dominant buyers for insurance. They do not follow the traditional life and purchase patterns set by older generations.
As we move into the future of SaaS, this precision will give insurers real competitive advantage, but how does SaaS 3.0 differ from what we have been calling SaaS all along?
Carriers and distributors can escape that ‘Groundhog Day’ feeling with incremental improvements and a vision of a transformed experience for everyone. In fact, the vision is a great place to begin.
Karlyn Carnahan, Head of P&C Insurance, Celent, and Brad Denning, who heads PwC’s distribution management practice, discuss how seismographic and technology shifts are reshaping the distributor-carrier Relationship.
The findings of a new Celent report suggest that insurers should be less concerned with pushing agents to use particular communication channels and instead prepare for the seamless use of all of them.
InsurTech could rightly be considered the greatest of the Wild West insurance opportunities, but in terms of opening up new markets, Group and Voluntary Benefits are making their own case for a land of new opportunities.
Olympic athletes have to put all of their hard work to the test every four years, but insurers have to do it every day, without letting up, faced with new startups and new entrants from outside the industry.
Preparing and administering the recently passed state PFMLs is much like bringing home that second, third or fourth puppy—arriers and TPAs have a strong background and framework to build from, but each one has enough nuanced differences to create headaches.
Increases in the complexity of the leave landscape will drive more employers to look to insurance companies and TPAs to manage employee leave administration—creating an opportunity to provide additional value and deepen the relationship.