Brokers – here’s how to use tech to your advantage
How can brokers use tech to their advantage? In this edition of IBTV, Zoe Williams, divisional director at Blink Intermediary Solutions, examines how the insurtech and fintech markets are developing, where the advantages are for brokers and how they can make their first step in embracing technology.
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Zoe: [00:00:27] Oh, yes, expanded massively. There’s lots of new tech companies coming in with ideas and entrepreneurial flair, thinking that they can come in and disrupt the insurance marketplace. So yeah, I’d say it’s expanded massively. Yeah, absolutely. Because the community general insurance broker is there in the local vicinity, offering advice, offering expertise. And it’s amazing when you speak to brokers about people that come through their door and say, I’ve had this. What does it mean? And it’s using their skill set. And I think by improving the customer journey. So they’ve got this great skill set and expertise, but how do they make the client aware that they’re in their local community, that they can write business efficiently, that they’re they’ve got websites, they’ve got online solutions. It’s just that mixture where you kind of bringing together and collaborate the traditional benefits of an insurance broker with the benefits of online efficiency by kind of using tech.
Zoe: [00:01:54] I think I would suggest that they first look at their business and understand where they are now and where they want to grow, where they’ve got areas of expertise, and then just try and understand where they can improve that ecosystem, get kind of better channels so that you kind of you can pick up the phone, you can email them. You’ve got online just making sure that you’re making it as simple as possible to trade with and using fintech in a positive way as a business tool to make you more accessible, I suppose, is the best way to describe it.