Click Here to Download Now Shifting Generation of Agents and Underwriters By 2010, approximately 64 million baby boomers will retire, replaced with 78 million new consumers of insurance products. In just a blink of the eye, the majority of existing
agency and underwriting relationships will be gone. To attract the new breed of consumer and agencies, carriers need to focus on relationships, trust, and service. Technically savvy agents will expect paperless interactions based on e-mail, Web, and self-service channels with instant, 24x7 responsiveness. Underwriter processes need to be semi or fully automated, with real-time processing and servicing. Gone are the days of relying on long-term relationships. Carriers will be forced to adopt a new type of carrier/agent business model—one that’s based on new expectations and service-level demands. These market dynamics all point to a common thread— the need to accelerate the pace of business, to streamline and automate processes, and to deliver on the high expectations of both new consumers and agencies. The existing carrier/agent relationship must change to
match the speed and responsiveness demanded by the changing landscape. The right technology—an Agent Portal—can make this vision a reality. Real world facts: York Fire and Casualty Insurance Profile Company Overview - Subsidiary of La Capitale Financial Groupe ( P&C insurance division $475m in GWP)
- Lines: Auto, Property, Personal, and Commercial Business Needs
- Automate interactions with independent agents to avoid “incomplete, ineligible, and inaccurate data”
- Support strong growth goals– company started to grow, and could not scale the business and handle the volume
Solution - Expanded agent portal functionality— streamlined workflows, automated new business for auto and property lines
- Enabled on-line policy changes
- Integrated core systems to agent management systems for real-time linkage
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