Terri Goveia
Your Business|Managing Your Practice
What Do Brokers Want? “Ease of Business,” U.S. Survey Says | Canadian Insurance
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What Do Brokers Want? “Ease of Business,” U.S. Survey Says

Insurers may be competing for broker business with technology, not product
lines, according to early results of a U.S. Council of Insurance Agents
and Brokers survey.

And many companies would do well to improve “ease of doing business” (EDB),
the findings of the joint CIAB/Financial Insights survey show: almost
20% of U.S. agents and brokers said that none of the companies they work
with offer effective EDB. And most want it: 72% of respondents said that
EDB mattered, with 17% saying it “absolutely” mattered. Some
company websites “are no more helpful than the paper applications,” Barry
Rabkin, senior research analyst, insurance practice, at research firm
Financial Insights. The research group and the insurance council co-hosted
the “Ease of Business: What do Agents Want?” webinar April
30.

With the struggling economy straining both sides of the business, CIOs
have acknowledged competing with CSR desktops, Bob Hyle, associate editor
of Tech Decisions, the webinar moderator, noted. The goal for agents and
brokers, he said, “is to get out of the processing business.” The
top challenge for many—44% said turnaround time, with duplicate
data entry costs and error rates following as their second and third most
pressing concerns.

The respondents also pointed to policy, billing and claims inquiries
are high priorities for system capabilities.