The idea of real-time transactions–once known as SEMCI (single-entry, multiple-company interface)–between agents and carriers is getting plenty of publicity in insurance technology circles these days, yet the practice could hardly be called widespread.
Despite the obvious benefits for agents and carriers in terms of speed of doing business, adoption of real-time technology has been less than rapid. But according to Michael Gray, newly elected president of the AMS Users' Group, based in Irving, Tex., both insurers and agents can remedy that situation by "selling" each other on the concept.
Gray says the educational effort to get real-time adoption needs to be "pushed" by both entities if it is to succeed. "[Agents] need to keep pushing the carriers on this," he notes. "The carrier marketing folks also need to push agents [on using] real-time technology where it is available." He finds some insurer marketing representatives "don't know about their own real-time products," which obviously hinders adoption.
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