LAS VEGAS–Independent agencies and their insurance carriers that fail to embrace real-time data processing will start losing market share soon and could find themselves out of business over the long haul, a trio of cutting-edge agents here warned.
"Technology will increasingly become the critical factor in the agency-company relationship," according to Edgar Higgins Jr., president of Thousand Islands Agency in Clayton, N.Y.
"We're building a bridge to better business processing, and need to work together with carriers to meet in the middle," he added during a panel on "The Future of Agency Technology" at the ACORD LOMA Insurance Systems Forum.
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