On the personal-lines side, the adoption of real-time processing technology—and the significant efficiencies that go with it—is becoming widespread.
The “next frontier,” according to Jeff Yates, CEO of ACT (Agents Council for Technology), is real-time processing for commercial lines—a development that will have “huge payback” for independent agents and brokers.
“There is definitely a goal and interest to make this happen,” adds Cal Durland, director of member relations for ACORD (Association for Cooperative Operations Research and Development).
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