Brokers also stand to benefit from technology on a number of fronts. They can use it to reduce billing and eligibility issues for clients. Should an issue arise, a quicker resolution is available when transaction history is readily available. Lowering the cost to service a client can notably improve the profitability of the broker's business and enhance retention. Additionally, a book of business grown and well-managed with technology can often be considered more valuable, because of the increased trust obtained through customers in the process of implementing technology and greater likelihood that they will stay with the system and broker. A brokerage that is using technology is also often more attractive to a younger broker seeking to join the company.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
