It is not ‘feasible’ or ‘reasonable’ to expect brokers to have in-house capability for a myriad of value-added services, says broking chief executive.
Nic Brown, UK Director Sales & Marketing at Markel, described the ecosystem model as a “virtuous circle”.
He continued: “This ecosystem is faceted, whether that’s around tax and revenue, whether it’s about legal support and advice, or insurance and risk management, it’s a virtuous circle rather than looking at it through one lens.”
Therefore, brokers that seek to create an ecosystem can then benefit by using these partnerships to broaden their proposition and services to clients thanks to value-added options outside of the insurance sphere – this, in turn, can boost the broker-client relationship and client retention if the broker can showcase expertise and contacts across a range of key business concerns.
Katie Scott Insurance Times Nov 30th 2020
360SiteView delivers the insurance platform to choreograph and orchestrate such ecosystems in a virtuous circle.
With a single digital record, redacted where necessary of course, so all parties work from one version of the truth which is updated in real-time.
This will help transform underwriting and rebroking , all aspects of selling, adjusting and renewing policies and end-to-end claims management when the policyholder really needs help.
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For an initial fact-find call ring Mike Daly on +44 (0)7341 971132 or email me on Mike.Daly@360Globalnet.com
Brokers that create a partnership-led ecosystem can participate in a “virtuous circle” that facilitates an advice-centric broking approach, supported by broader value-added services such as legal advice or tax support. This is a key insight arising from Insurance Times’s latest webinar, in association with Markel, which explored how commercial brokers can build business success and target long-term growth as the industry moves through the Covid-19 pandemic.