The never-ending search for a magic elixir that will generate growth and put more money into company coffers during a soft market has led some specialty carriers to rethink the entire wholesale-distribution system.
According to a report by Conning Research & Consulting on the property-and-casualty specialty-insurance markets, a number of insurers are offering specialty products and programs directly to retail distributors—skipping wholesale brokers and managing general agents (MGAs).
There has been "a proliferation of online portals funneling business to a number of destinations and bypassing the multi-tiered specialty-distribution system," the report says.
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