Welcome to the emergence of the agency network, a subtly revolutionary development in the distribution of insurance that is bringing small and mid-sized agencies on an equitable playing field despite the industry’s increasing complexity. The Reasons for the Increase in Agency Collaboration Let us begin with the obvious: operating an independent agency in the modern …
They may make use of a cloud-based third-party point-of-sale system. Five different nations may supply their materials. They can be using an online store to offer personalized cookies to customers in different states. Additionally, they most likely use a SaaS platform you have never heard of to handle payroll and benefits. There are additional levels …
Strategic segmentation goes deeper than typical segmentation techniques, which depend on superficial indicators like claim value, source of loss, or line of business. It takes into account a claim’s entire context and changing nature, including its seriousness, complexity, escalation risk, and even potential to help with better underwriting and pricing decisions. In short, it is …
1.Should Bordereaux Be Buried Now? Excel’s Battle and Blueprint Two The industry is experiencing a surge of anxiety as Lloyd’s market approaches the implementation of Blueprint Two, particularly in relation to the continued widespread use of Excel-based Bordereaux management. These intricate, manually maintained spreadsheets have served as the link between brokers, underwriters, and coverholders for …