Run Time: 24:44
in On Point

Online Brokers Gaining Momentum

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New online insurance models are emerging, and one you may have heard about is San Francisco-based Embroker. Listen as CEO Matt Miller outlines ways to reduce "pain" felt by today's customers. Unencumbered by what he calls slow, expensive insurance legacy technology and workflows, Embroker is blazing an alternative path in commercial and risk management, leveraging data to speed a product and service delivery. Traditional client relationships will work only for so long into the future, Matt says. Thus, he notes, "You can't use them to protect yourself from a better platform and service environment and product. People now expect an exceptional service and technology experience, even in the insurance industry." In addition, investment in insurance technology "will continue to increase because historically there has been so little," Matt says. "We'll see a high pace, and then it'll tail off. The herd in Silicon Valley is going after it now."

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