Locke Lord is proud to sponsor InsurTechNY's The Digital Distributor on Thursday, August 25, 2022 in New York City. Ben Sykes will serve as a panelist and discuss "Digital MGAs and Embedded Insurance" at 6:40pm.
Agents still represent over 53% of P&C insurance premiums and at least 87% of life insurance premiums (III). As the mature InsurTechs continue to gain market share, it is clear that they cannot ignore the agent channel. In fact, InsurTechs like Hippo and Bestow have dedicated agent programs. In a world where InsurTechs work with agents and traditional carriers now have Direct-to-Consumer options growing in popularity, the concept of being a digital distributor is no longer about online portals. Insurers need to focus on agent productivity and truly differentiated products that embed insurance into the buying experience.
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