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Run Time: 27:44
in On Point

Agents & Brokers Warm to Insuretech

New insurance technology, or insuretech, isn’t just about the impact on carriers. Agents and brokers aren’t resting, according to returning podcast guest Ellen Carney of think-tank Forrester. Agents are investing in digital startups, she says – some of them are unhappy with poor-quality technology tools from vendors and carriers. “They’ve become quite GEICO-like in their behavior – rolling out features like bots, click to call, click to chat, or investing in analytics to collect more information on their customer base,” she says. “They’re trying to protect their relationships with customers. If I roll out a digital capability as an agent, that’s a good reason for my customer not to call the company directly.” And it’s not just Silicon Valley playing with insuretech, Ellen points out. “Boston and Hartford areas are crazy right now – a tremendous number of companies and dollars are coming in. It’s a crazy time but also an exciting time to be in the insurance business now. We will see lots of interesting things in the next 12 months.”

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