While carriers are working hard to improve their “ease of doing business” with the introduction of new, “real time” technology and functionality, experts say agents and brokers need not wait for insurers to make advances in their systems to improve the business process for staff, partners and customers.
During a recent webinar on the topic sponsored by Highline Media, an affiliate of National Underwriter, David West, research area director for insurance at Tower Group, discussed the technological evolution and advances insurers have made over the years.
In the past, the insurance transaction was paper-intensive and needed tremendous manual effort, he explained. The human element led to inconsistent decisions that undermined agent and client relationships with carriers. Inconsistency in underwriting decisions, he added, spurred suspicion and mistrust in the minds of both agents and policyholders toward carriers.
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