How insurance brokers can stand out in a competitive marketplace

The insurance market today is being hit with challenges on all sides, as insurance coverages are commoditized, insurtechs disrupt the supply chain, and competition drives down pricing. That means there’s more pressure on retail brokers to build a resilient book of business and ensure that their value in the supply chain holds steady. At the upcoming Leadership Exchange Summit Chicago, one expert will shed light on the strategies brokers can use to remain a valuable part of the insurance transaction. “Some of the things that they can do is [implementing] innovative technology, whether that’s a way to deliver the product to their client, whether that’s automating applications, or figuring out a way to [improve] the ease of doing business,” said Tracy Bernard (pictured), SVP of strategy and program development at Tangram Insurance Services, and a speaker at the Leadership Exchange Summit Chicago on June 06. She added that building specialty expertise is likewise important in this challenging marketplace.