In-depth: The online outlook
As far as e-trading is concerned, where personal lines has led, commercial is now on the way, writes Andrew Pearce
In 2011, Peter Cullum warned brokers that if they failed to switch on to e-trading, then more technologically savvy outfits would “eat their breakfast before they got up in the morning”. It is a warning, along with plenty of others, that brokers appear to have heeded.
Datamonitor statistics compiled for 2012 found that 51.2% of brokers use a marketplace portal to transact commercial business while 48.8% place trade through insurer extranet sites.
While personal lines has always been viewed as
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