Competition from direct-writers is growing, especially in commercial-lines. What are independent brokers doing to remain competitive?

If you are a commercial broker considering an automation solution, the white paper Improving
Your Commercial Business Through Automation: 5 Keys to Evaluating a Commercial Management System can help you in your decision making process.

Topics covered in the white paper include:

• Impact of direct-writers on independent broker network, especially in commercial lines
• Inefficiencies of using a broker management system (BMS) to manage commercial lines
• Benefits of using a commercial management system (CMS)
• 5 points to consider when evaluating a commercial automation system

Excerpt from the white paper:

Direct writers and direct response insurers have numerous advantages in the distribution world. First, they have invested significantly in technology and have automated many of the submission and renewal functions associated with commercial accounts. Second, they have more harmonized systems of data collection and information analysis to segment clients, select attractive risks and price appropriately.

Because there is lower (or no) commission, rates can be pushed downwards, while coverage can be broadened for standard commercial accounts. This explains why direct writers have, over the past five years, slowly carved out a distinct share of the commercial insurance pie. And that share seems to be growing.

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