How does the independent agent compete with the amount of capital being invested in the InsurTech movement? In 2013, InsurTech investment totaled $270 million – in 2017 it soared to almost $4 billion. But what is InsurTech and how does it affect Independent agents?
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IBQ has spent the last five years studying how agencies process their commercial business. From new business to renewal quoting, the glaring issue is apparent; the processes are wildly different from agency to agency. The varying offerings management systems are attempting to employ has a direct impact on this fragmentation, but what is truly mindboggling is the disparity we found in the processes amongst agents/csr’s within the same agency….