Skip to main content
Skip to footer

  • Insurance / WHITE PAPER

The Road Ahead for Property and Casualty Agencies

 

Suresh Srinivasan

Domain Consultant, Guidewire Practice, Banking, Financial Services, and Insurance, TCS

Ramesh Baburao

Consultant and Quality Assurance Specialist, Guidewire Practice, Banking, Financial Services, and Insurance, TCS

You have these already downloaded

We have sent you a copy of the report to your email again.

Going digital can help agencies retain relevance in the P&C insurance industry

Agents and brokers traditionally had the upper hand in property and casualty (P&C) insurance distribution. However, this trend changed over the last decade with insurers altering their distribution model and interacting directly with customers through online channels. This shift has diminished the role of agencies in the insurance value chain and the ongoing COVID-19 crisis which is compelling insurers to connect directly with customers through no or low touch channels has not helped. So, how can agencies remain relevant? Transforming into digital insurance agencies is the answer.

The ability to reinvent business models to adapt to an increasingly digital world will determine the future of insurance agents. Rapid digital transformation of insurance agencies has thus emerged as an imperative. Digital, self-service, personalized offerings, operational agility, and flexible working models are the key levers required to transform into digital insurance agencies. To make this a reality, insurance agencies will need to:

  • Expand digital capacity
  • Embrace analytics
  • Adopt agile methodologies

Related reading

Momentum Metropolitan Life Embraces Chatbots for Better CX

Case Studies | 24 Nov 2022

Impact of Climate Change on Property and Casualty Insurance

White Paper | 20 Nov 2022

Ensuring growth for Bovemij

Case Studies | 06 Nov 2022

Embracing Open Insurance for Better Revenues and Customer Experience

White Paper | 24 Oct 2022

Transformation starts here

Ready to change the game?

Talk to our experts

Find out more