Top 5: Developing risk management services
Thomas Coles of Risk Solved explains why brokers need to look at offering customers a rounded risk management service as the insurance market changes.
The majority of brokers today sell insurance products, and are principally selling risk transfer. Some go a little further and offer so-called risk management advice, usually limited to business continuity planning or employment law advice.
We contend that to survive in the medium to long term they must adapt; insurtech takes many forms but the underlying activity is the disruption of our industry.
Distribution is arguably the single biggest target of insurtech start-ups, so traditional brokers
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