The picture in the crystal ball may be a bit fuzzy, but brokers definitely see two things radically changing the way brokers conduct business in the coming years.
Our recent
Insurance Business poll asked the question, ‘What will the future distribution models of insurance look like?’ And brokers overwhelmingly predicted that those models will be internet-driven.
Of interest – and perhaps painting a pessimistic picture – were almost as many votes for the answer, ‘Directs will replace brokers.’
The other two choices – ‘Lines between channels will blur’ and ‘Immune to change’ were a distant third and fourth, garnering 2 and 1 votes respectively.
Voting breakdown
Will be internet-driven 7
Directs will replace brokers 5
Lines between channels will blur 2
Immune to change 1
Our next poll tackles
Broker Tools and driving efficiencies – what do brokers need to succeed? It is also the topic of the second RSA-sponsored roundtable that will be featured in the October issue of
Insurance Business magazine.
The optional answers in the poll are:
A universal portal format for all insurers;
Insurer investment in marketing support;
Association-recommended BMS for all; and
Mandatory annual training.
Is there broker tool that is missing? You tell us, by leaving a comment below.
