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Insurance carriers face a daunting challenge – how do they adapt captive distribution channels to deal with the competitive pressures from direct channels? Carriers must make fundamental shifts in the way they support captive channels in order to drive a strategy that supports continual premium growth, accelerates production and ensures that every sales person can sustain and grow a profitable book of business.
The new model must eliminate manual processes that are primarily driven by individual skill and rely on the agent or representative to determine the best offers for each policyholder or situation. This means captive channels must be supported by nimble technology that empowers agents to sell better and maximize the value of each policyholder relationship.