The Next Generations and Insurance: Understanding Millennial and Gen Z Buying Preferences
Brokers want increased visibility and access to markets.
Did you know more than 83% of brokers found the availability of automated insurer connectivity to be very important when selecting insurers to do business with?
Automating communications, quoting and servicing of insurance products increases ease of doing business between insurers and brokers and ultimately drives more business opportunities.
92% of brokerages receive eDocs and messages download.
Digital distribution allows insurers to instantly provide price and product information to brokers. Brokers receive policy updates directly into their management systems from insurers.
Insurers recognize the benefits of eDocs and Message download, citing an increase in ease of doing business and stronger brokerage relationships as the primary reasons behind their investment in connectivity services.
eDocs and Messages
Claims download improves customer service and communication with automated claims updates, like adjustment and settlement processes, sent directly from insurer systems into brokers' management systems.
Brokers Report These Benefits from Download
¹ Based on brokers not currently receiving eDocs and Messages
² Based on brokers not currently receiving Claims download
Discover how to maximize your partnership with Applied to increase insurer-brokerage connectivity by calling 866.899.5120.
Survey Methodology: In July-August 2019, Applied IVANS Insurance Solutions surveyed approximately 1,600 unique independent brokers in the U.S. and Canada about their use of automation. The average brokerage size was 29 employees; median brokerage size was 5 employees.
The number of hours saved per employee per day at a brokerage using automated information exchange technologies.
Increased Broker Productivity
Ability to Serve Clients Better
Ease of Conducting Business
of insurers consider it very important to have digital collaboration tools to increase productivitiy and service brokers and clients faster.
of brokers said they would write more business with insurers that provide automated connectivity between the policy administration system and their brokerage management system.
of brokerages prefer to access client policy information, including billing and endorsements, directly in their management systems.
of brokers would like Claims download but it is not offered by insurers or supported in the management system.²
of brokers want to receive Claims download from insurers.
See What Brokers and Insurers Think
Digital Distribution and Automated Servicing