Commercial Lines Distribution Platforms: Way Beyond Comparative Raters - Insurance-Canada.ca

Apr.26, 2021 — By Mark Breading, Strategy Meets Action — Commercial lines insurers have many options for distribution partners.The world of intermediaries is continuing to expand with many new platforms to connect distributors to carriers.

We are frequently being asked by insurers how many distribution platform partners an insurer should have and how to identify the ones that best align to their strategies.Often, the questions are framed as comparative raters, especially since the concept of comparative rating migrated from personal lines over into commercial.Most of the intermediary platforms provide rate-quote-bind capabilities along with the capability to compare rates and coverages across multiple carriers.

But many of the platforms provide a richer set of capabilities to improve the entire process for the benefit of agencies, brokers, MGAs, carriers, and others in the ecosystem.

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Publisher: Insurance Canada