Talk of "digital ecosystems" in the P&C insurance world has been around for a while. But in 2021, insurance experts report that a strong collection of digital-ecosystem partners is what distinguishes industry winners from laggards. Look no further for evidence of the importance of productive partnerships in today's insurance business — particularly for incumbent carriers — than Nationwide's Partnership Platform. The incumbent carrier launched its digital partnership portal in late 2020 to make its partnership experiences "quick, easy and seamless." The insurer added that its online partnership "front door" was conceived to further its position as an insurance technology leader. "Consumer and business expectations have evolved, and Nationwide has created industry-leading capabilities to meet those needs digitally, at scale," the insurer's Senior Vice President of Corporate Development Angie Klett said in a press release. "This new platform allows partners to easily work with us to improve their customer experience, create value for their customers, and drive revenue for their business." The initiative underscores the way P&C insurance carriers are getting creative about how to put their products in front of new prospects and customers. The slideshow above illustrates eight examples of the way such digital ecosystem partnerships are creating new sales channels for insurers. Did we miss a key insurance sales partnership? If so, email the details to ejefferson@alm.com. Keep reading...
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