Broker Week: Digitalising broker efficiency

Brokers are embracing the opportunity to benefit from digitalising their businesses, according to insurance-broker-software specialists, Applied Systems. Its digital technology adoption survey in 2021 revealed an 11% increased uptake of mobile applications by employees than in prior years, as more firms enabled their teams to connect to management systems remotely, improving flexibility. The survey also found that having a management system has become standard practice for most brokers, with an adoption rate of nearly 100% reported by respondents.

While much progress has been made to date, the process of becoming a fully digital business takes time to happen. And it’s not just a matter of some digital facilities remaining unexplored. Brokers are continuing with traditional ways and methods of undertaking some tasks – for instance, relying on manual processes for some stages of the sales cycle. So, some business functions may operate digitally, but others lag behind.

This article highlights how brokerages can overcome some of the remaining barriers to becoming fully digital by plugging existing technology connectivity gaps and leveraging the skills of ‘digital natives’.