Twenty years ago, commercial e-trade was but an idea, a dream of how this market could operate more efficiently and effectively. A better experience for everyone. Today, that dream has been realised only in part, as the response to the Insurance Age e-trade survey shows. But while significant progress has been made towards fulfilling that early potential, tensions and limitations remain at its heart.
To gauge the state of the traditional commercial e-trade market today and to understand how it is faring in more complex sectors, Insurance Age in association with MS Amlin asked brokers across the country to critique their experience of commercial and agriculture e-trade.
The research shows that insurer e-trade platforms are delivering for brokers but there is still some way to go in striking the right balance between the competing factors at play – speed, accuracy, breadth of appetite, service and, of course, affordability.
This report provides analysis of the research findings and highlights how insurers can improve the commercial e-trading experience for brokers.
• The most important factors when placing e-trade business with an insurer.
• Time taken to generate e-trade quotations.
• How can agricultural insurers improve their e-trade propositions over the next 12 months?
• How can commercial lines insurers improve their e-trade propositions over the next 12 months?
• Average waiting times for e-trading underwriting referrals.
• Human engagement in commercial lines e-trading and what the future holds for the market.