Our Digital Integrations Manager, Ryan Deeney explains how he and his team help broker partners gain the advantage in a fiercely competitive industry.

While technologies like Artificial Intelligence (AI), Machine Learning, Blockchain, Internet of Things (IoT), are influencing and changing the industry, the insurance brokers’ software solutions are also getting better. It goes without saying that every broker and agent is trying to gain the competitive edge.

Good software delivers greater efficiency of service, resulting in several advantages for both the broker and their customers, as the user experience becomes more personalised. It:

• Facilitates daily operations, automates processes & delivers exceptional user experience
• Helps brokers stay productive and sell more policies
• Enables brokers to stay connected to both providers and customers
• Provides easy access to important information
• Can create a personalised customer experience and thus enhance user satisfaction

As customer expectations continue to rise and with ever increasing regulatory demands it is more important now than ever to have the right software for your business and partners that can integrate into it.

We should be mindful that consumer expectations are shifting, as they apply their experience of other sectors – particularly online retail – to insurance. If we sit back and think about how rapidly technology is developing; the overwhelming choice of products and services are available; how immediately available things are; where customer loyalty is no longer a given (if it ever was?), it is a real challenge to retain and grow one’s customer base.

According to the Deloitte insurance trend 2019 survey, they identify customers to be the disruptive force in the insurance industry. The question they pose is ‘how can insurers adapt to disruptive customers?’

The answer lies in fostering a close working relationship with one’s customers and in our case, with our broker partners; that enables our real time integration into both online journeys and back office operations. In this way partners who choose to invest in technology can serve their customers quickly, compliantly and efficiently.

By working closely with our partners, we can develop an integrated system that allows for:

• Seamless platform migration
• Customised user journeys
• Real-time decisions for new business and policy renewals
• Faster transaction times
• Ongoing support

Since we work with more than 1,500 insurance industry partners in the UK, our challenge is to ensure that however you transact your business – via a software house platform, your own bespoke systems or through our proprietary software (Interactive & PLaSMA) - you’re able to as efficiently and intuitively as possible.

We are integrated with all the major software providers in the market and are continually adding to the long list in order to have the widest possible coverage. Equally if you have your own technology, we make our services open and easy to adopt and configurable to your needs.

Should you wish to find out more about system integration and how Ryan and his team can help your business, email brokers.support@pcl.co.uk