Forward-thinking agents and technology-first insurance companies can form strong, mutually beneficial relationships. (Photo: Shutterstock)
Although historically slow to embrace digitalization and adapt to advancements in technology, the insurance industry is finally undergoing a massive evolution. Keeping up with innovation and remaining relevant in today's on-demand world is more challenging than ever.
For independent agents, forming strategic and advantageous partnerships with top InsurTech companies is crucial to laying the groundwork for sustainable long-term success. But first, emerging technology companies must work to solve agent pain points and earn their trust.
A mutually beneficial partnership
The insurance industry has long resisted change, and while everyone talks about the rise of Insurtechs, independent agents have a tough choice ahead. They can continue on the current path, preparing paperwork and handling customer renewals manually while having to turn away customers looking for specialty products. Or, they can work with willing InsurTechs, using tech advances to capture underserved parts of the market that have traditionally taken too much time and paperwork with low profit.
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