Many insurance buyers perceive insurance as a product and service with price as the primary differentiator. When agents follow their buyer’s lead and ask their insurance company partners for the lowest price, insurance companies don’t get the opportunity to compete on their capabilities to reduce risks and improve outcomes.
ReSource Pro Consulting research shows that 100% of property & casualty insurers have digital initiatives underway. How will these initiatives and other trends unfold in the coming months? Here are our top five predictions.
The pandemic has altered life in so many ways over the past two years. One change that will likely stick around for years to come is the new workforce dynamic. While talent challenges are nothing new to the insurance industry, new research shows that insurers are prioritizing talent strategies now more than ever before.
The pandemic only elevated the need for companies to provide digital experiences to customers and employees, such as real-time payments, virtual claims submissions, and more. And recent research suggests that this need is influencing how insurers and MGAs are purchasing core systems.
Education for insurance agents has turned into a race toward the bottom. It’s time for conversations between carriers and agents to evolve beyond the usual niceties and routines and into strategic discussions about their respective roles now and in the future.
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The distribution landscape is evolving, and retail agencies and brokers are rethinking their channel partner strategies just as carriers and others across the distribution landscape do the same.
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According to a new study from ReSource Pro Consulting, personal lines insurers will continue to advance their digital transformation strategies in 2022.
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Many of the innovations that drive the insurance business today were only figments of the imagination just two decades ago. Advancements in data, analytics, and technology have transformed every aspect of the industry, some more significantly than others.
The move toward broad-based digital capabilities will require insurers to understand how specific technologies contribute to digital transformation and how priorities and roadmaps are changing in the current environment.