The more up-to-date data and improved tools that carriers can offer, the more swiftly the industry can address submissions, target new and lucrative business segments and provide detailed risk information, among other advantages. (Credit: nenetus/Adobe Stock)
The landscape of commercial lines insurance distribution in the U.S. is currently undergoing significant changes that may fundamentally affect the interactions among insured parties, brokers and insurance carriers.
To remain competitive and both sustain and further their relationships with brokers and clients, property and casualty (P&C) insurers must improve the value they offer and create innovative services that address the shifting demands of brokers and insureds. Although the future may hold uncertainties, those carriers who can adapt will find rewarding opportunities.
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