The continued proliferation of mergers and acquisitions involving insurance agents, carriers and MGAs underscores the fact that leaders in all sectors of the industry are focused on growth. Besides exploring and pursuing M&A transactions, many of these organizations are looking at new ways to drive their organic growth as well.
As a result, agencies, MGAs and insurance companies are all looking at new ways to leverage big data to identify growth opportunities within their existing books as well as areas to target for expansion.
In fact, the latest emphasis is the next move along a continuum of technology innovation in the insurance sector that now spans nearly four decades. Indeed, the latest generation of insurance technology platforms represents a culmination of the succession of past innovations that have made insurance agencies increasingly more efficient and productive — often to the benefit of their growing and evolving clientele.
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