Commercial brokers, the future is bright. As you contend with an increasingly automated, digitally-enhanced insurance industry, rest assured your expertise remains valuable for your clients.Executive SummaryFor most businesses, risks and attendant questions around how to insure them are not getting any simpler. But the value brokers provide to them isn’t evenly distributed. Here, Corvus Insurance’s chief commercial officer delivers advice on potential broker strategies for small, midsize and large clients.
That is, if you can adapt to their differing needs. And that’s not always easy.
Better online experiences have made the process of selecting and buying insurance easier for individual consumers, and in some segments made it wholly commoditized. But for most businesses, their risks and attendant questions around how to insure them are not getting any simpler.
In fact, as businesses face the growing and ever-mutating peril that is cyber risk, policyholders are now forced to contend with a significant new layer of complexity in their insurance programs. But it’s also true that they can find information about their risk in a number of ways that weren’t reliable or even available just a few years ago. Brokers must navigate these competing trends and work them to their advantage.