There nearly 1 million insurance agents and brokers employed in the U.S. and you would think that they would be fiercely competitive with each other. More and more, agencies are merging, consolidating and forming agency networks to compete with the real enemy – Direct Writers. Creating innovative communications has historically not been a core competency of insurance agencies but most recognize that this needs to change. As the demand for more effective and consistent customer touches continues to grow, agencies are looking for partners to help them execute regular, cost effective communications programs with their customers.
54% of P&C insurers have core systems that are more than five years old. 78% regard their capabilities inadequate to manage new forms and levels of risk, such as those presented by cybercrime, terrorism and increasingly frequent and severe natural catastrophes. Opportunities abound for reducing the costs of producing documents in parallel with core systems conversion. Savvy service providers are positioning themselves to help insures take advantage of newly upgraded systems and a wealth of new data to improve their customer experience throughout the insurance lifecycle.