The Council of Insurance Agents and Brokers is partnering with LexisNexis to build a Web-based insurance exchange for independent producers, with test runs set to begin next summer.
The groups said their new exchange will automate and simplify insurance intermediary/insurer distribution workflow and enable access to key market information and analytics for better decision-making.
The pair said the planned exchange is aimed at “improving the efficiency and transparency of the independent agent-based distribution system,” and will combine technology and information at each of the key workflow steps of the insurance transaction process to reduce redundant work and costs.
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