2023 E-Trading Insights

Polaris’ Head of imarket Simon Bloomfield provides insightful commentary of the findings of the Insurance Times’ annual 5 Star E-Trading survey, which gathers feedback from more than 800 brokers regarding digital trading service providers.

The review highlights key trends brokers are concerned with when it comes to etrading, including Service Model, Products and Platform Choice.

Bloomfield discusses the varied needs of brokers between those dealing with highly automated products and those dealing with bespoke products as well as the growth of Polaris Live-Chat in Commercial lines.

He also highlights the demand for potentially newer products to the digital space – (Contractors Combined and Combined Liability) as well as key things brokers should include when putting forward a business case to insurers to encourage them to digitise products.

The summary also includes the top 10 products brokers wish to be made digital.

Later Bloomfield compares broker preference in usage of broker systems over insurer extranet, including highlighting broker systems having a competitive edge due to their efficiency and comparative nature, however 55% of brokers feel there is still room for both.

To read the complete article on Insurance Times, click here: