Technology Strategies and the Battle for Producer Mindshare
AbstractBoston, MA, USA December 31, 2007
Competition among insurance carriers for producer mindshare is fierce. Generating loyalty from independent producers requires sound strategies and disciplined execution.
The continued growth of the independent channel in North America has increased competition among carriers. The question of carrier choice becomes more important each year. Producer technology needs are varied, but it is clear that opportunities still exist for carriers to build loyal distribution partners by focusing on the things that are most important to producers.
In a new report, , Celent explores producer views on proprietary and multi-carrier tools, such as the Web-based tools provided by national brokerage general agencies. It is based on a survey of independent producers and follows up on issues identified in several previous Celent reports.
"There's no simple solution that pleases every producer," says Craig Weber, managing director of Celent's insurance group and author of the report. "The good news is that most independent producers work with a number of carriers. However, they select their go-to carriers based on product, price, and traditional services. There's plenty of room to bring technology to bear on key issues and radically change the debate around carrier choice."
The 21 page report contains one table and 15 figures. A table of contents is available online.
of Celent's Life/Health Insurance research service can download the report electronically by clicking on the icon to the left. Non-members should contact firstname.lastname@example.org for more information.
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 subsidiary of Marsh & McLennan Companies [NYSE: MMC].
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Table of ContentsBoston, MA, USA December 31, 2007
|Producers and Technology||08|
|How They Prefer to Work||09|
|Shopping New Business||12|
|Changing Producer Behavior||16|
|The Role for Multi-Carrier Sites||17|
|Advice to Carriers||18|