Report: Big Changes Due to Insurance Sales Model
March 22, 2016 by Cyril Tuohy
Life insurers, facing low interest rates and anemic premium volume growth, need to change the way they do business in order to maintain profitability, according to a new report.
A more intimate customer relationship is one way for agents to boost their value as insurance products morph into commodities and persistent change turns the traditional commission-based revenue model upside down.
Titled “Reimagining Insurance Distribution,” the Accenture report offers a broad look at the changes facing life and property casualty carriers in the next few years. Digitization is expected to affect every aspect of the insurance sales process from information gathering to binding a contract. Click HERE to view article
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