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The tech edge: What it can do for you

Brokers also stand to benefit from technology on a number of fronts.

By Art Brooks | Updated on July 01, 2009

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.

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