Independent Producer Survey: Technology, Services, & Other Drivers of Carrier Choice
| Boston, MA, USA February 3, 2005
Independent Producer Survey: Technology, Services, and Other Drivers of Carrier Choice Property/Casualty Edition
Repeating many of the themes they voiced a year ago, independent property/casualty producers in a new Celent survey stressed technology, underwriting relationships, field service, and speed as critical drivers of carrier choice.
"Commoditization is a big factor for many lines of business," says senior analyst
Craig Weber, author of the report. "As it becomes harder to differentiate on product and price, carriers will have to look at speed and service as their ticket to generating producer loyalty."
Weber notes that last year痴 three top drivers were repeated this year (see table below), while a redefined category of "field service" was also highly ranked. "We believe that technology is consistently recognized as such a strong factor because it enables all the other factors," Weber says. "Producers often talk about their favorite carriers in terms of the way they handle specific, everyday tasks, like generating quotes and checking commissions."
Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].
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Table of Contents
|Boston, MA, USA February 3, 2005|
Independent Producer Survey
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