One defining characteristic of the insurance industry is that many insurers depend to varying degrees on third parties for distribution. The Accenture Digital Innovation Survey found that 64 percent of insurers are focusing their efforts on digitally enabling traditional channels—and agents and brokers are poised to benefit from these improvements.

That said, insurers expect their distribution partners to leverage digital improvements. For example:

Seizing the opportunities of digital transformation
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  • 93 percent of respondents expect distribution partners to improve their ability to find and convert new leads.
  • 90 percent expect better rates of cross- and up-selling.
  • 41 percent expect distribution partners to make better use of customer data.
  • 40 percent expect partners to leverage contact-center and self-service capabilities provided by the insurer.

Traditional channels have played a vital role in crafting the insurance landscape to date, and will continue to play a role in the developing omni-channel, digitally enabled market. Given that the agency channel remains the dominant distribution channel for many insurers, it is critical that insurers work with their agents and brokers on their journey to digitalization—for mutual benefit.

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