Big tech platforms like Google and Facebook, retailers like Amazon and Walmart, and telcos like Rogers are radically changing how we buy insurance and other services – and from whom. As a result, it’s tempting to think that the independent broker is dead in today’s digital world, but nothing could be further from the truth. Digitally enabled distribution is changing, but not eliminating, the job of the insurance broker. In the future, there will be fewer, but more successful brokers, who will have very different expectations of what insurance they’ll sell and how they’ll sell it. Brokers must begin thinking of new investments that will improve sales performance, risk ecosystem partnerships that provide new coverage and services, and new digital services that will differentiate their firms and drive customer loyalty.
This complementary TSX webinar was conducted in association with Forrester Research.