With the wind of digitalization blowing stronger than ever, the insurance industry is gearing toward the next digital revolution stage. The all-pervasive trend of enhanced customer experience, compounded with the need for operational efficiency, is now driving the insurance companies to shore up their digital capabilities further. Today’s insurers, MGAs, IMOs, FMOs, and insurance brokers are outgrowing their conventional methods and demand more advanced tools for greater automation and occupational efficiency in distribution.
With the rise of digital technologies, insurance companies can now offer personalized assistance to customers by deploying AI and predictive analysis. They can further tailor their offering by assessing consumers’ specific needs. At the same time, these same technologies can be used for streamlining internal operations. Insurance companies leverage advanced technologies such as telematics, big data, mobile, social networking, and service-oriented architecture (SOA) that can deliver enhanced revenue growth and competitive advantage on multiple distribution channels.
In a nutshell, these capabilities simplify the entire ecosystem for insurance companies from customers, treaties, accounts, and compliance management to claims registration and reinsurance. With the rise of intuitive systems driven by automation, insurance agencies are better positioned to provide an insurance buying experience free of friction and stress. Moreover, the ability to have a comprehensive view of customers and carriers in a single pane of glass in real-time rivets their value proposition in the evolving insurance landscape.
At this juncture, there is a wide variety of broker management service providers entering the industry with a set of advanced and integrated managed offerings. Insurance CIO Outlook has compiled a list of the top 10 broker management consulting companies and service providers to help companies navigate through the best-of-breed broker management service providers. Besides, the magazine also comprises insights from thought leaders in the sector on the industry trends, best practices, recent innovations, and their advice for the aspiring CIOs.
We present to you Insurance CIO Outlook’s, “Top 10 Broker Management Consulting/Service Companies – 2020.”
