How Brokers Can Face and Avoid Extinction

With technology constantly changing and new entrants into the marketplace, insurance brokers must adjust to the their changing environment to compete.

Big tech companies have become key players in the marketplace and are even challenging the insurance industry. Even large retail companies have began to sell insurance. Customer relationships, loyalty, and trust have all become factors that are even more sensitive, therefore affecting the insurance business. This creates conflict for our traditional insurnace brokers as it makes it increasingly difficult to compete in this new and diverse marketplace. To stay relevant, insurance companies have been forced to restructure their business models.

Denise Garth explains how brokers can overcome these challenges and compete. Read More...