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Run Time: 28:59
in On Point, Podcasts

Prediction: “Rise of Very Large IAs”

Ty Harris, CEO of Openly, a technology-enabled insurance carrier focused initially on upscale homeowners coverage, has a prediction in all the buzz around insuretechs. "As I look to the future, I'm betting on the independent channel," Ty says. "In recent decades, we saw the rise of the giant direct brands like Progressive and Geico. And I think the next 20 years will see the rise of very large independent agencies. They'll be very efficient agencies on a platform that is tied to a fire hose of leads." Ty predicts more partnership sales models using new and traditional relationships rather than the typical marketing call by insuretechs to "come to our website." Why? "You can't just build something and expect people to come running." On this podcast, he urges independent agents to be open to new technologies, such as telematics, that carriers and insuretechs offer.

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