Commentary

Buyers sometimes struggle to fully understand exactly what they're buying.

The quality and speed of the digital services and products that Apple, Google and Amazon provide influences customers' expectations from the insurance industry.

The quality and speed of the digital services and products that Apple, Google and Amazon provide influences customers' expectations from the insurance industry.

Agents need to offer a customer-focused wrapper, 24/7 access to all products, policies, premiums, payment information, access to documents, claim forms, and customer care call centers.

In this case, the iron law of the competitive market applies: eat or be eaten.

By simply replacing legacy computer software systems with a new solution and doing nothing more, carriers are missing significant opportunities to create competitive advantages.