Depending on which experts and futurists you believe, were either hurtling toward a recession or witnessing a post-pandemic market correction. Some are even saying the recession is already here. The insurance industry is all about mitigating risk, and preparing for an economic downturn is no different. Smart, independent agencies and MGAs should plan their strategies now for navigating the potentially rough waters ahead. Whether the recession is protracted or a short dip, agents and brokers can make many pre-emptive operational changes over the next few months to keep them well-positioned and even strengthen their bottom lines.
Combining face-to-face and digital interactions.
Time is running out for many London Market brokers, as the costs of regulatory compliance are set to rise as a result of the FCAs new fair value pricing rules, yet many brokers are not aware of how the regulations will affect them. Here we explore the issues and the answers that Novideas technology can provide.
Over the last couple of years, forward-thinking insurance brokers have accelerated their digital transformation efforts, initially driven by their need to work from anywhere. These early adopters are now reaping the rewards as their new cloud-based solutions are enabling Broking on the Move.
With hybrid working set to become the new normal in the UK insurance industry, brokers are addressing both the challenges and potential benefits. In particular, remote working has given rise to new data management challenges, while also exacerbating pre-existing issues. In this article, well explore the top data challenges brokers face, as well as how they can be solved.
The shift to online and remote working in the broking industry has been phenomenal. Now is the time for brokers to future-proof their operations and turn the new normal into business as usual to lay the foundations for the future of broking. From our research, heres the view from brokers on plans for digital transformation and business change in 2021 and beyond.
The UK broking industry sees remote working as both a challenge and an opportunity. In this article, we examine what brokers have to say on the topic and what this means for the future of broking.
M&A in the broker space continues to thrive. Even though the number of global M&A deals declined to 620 in 2020, following a record high of 671 in 2019, the aggregate deal value in 2020 was actually 39% higher than in 2019 at $21.6 billion, according to Deloitte.
Management Information (MI) has always been vital to running a successful business. This is particularly true in such a data-rich industry as insurance. In fact, today, it all seems to be about data.