For any small agency, deciding to make the investment in technology is a risk. Technology has changed thecompetition game, and small agencies can benefit from having sophisticated, yet simple technology embedded in their culture from day one.
Here i will give you some tips on the following topics:
- What is technology in the insurance industry and what can it mean to a broker, especially a small agency?
- Keys to success when implementing a technology platform
- Technology in the small agency sphere
- Differences in line of business
“The size of the clients they are going after, their current revenue and their revenue potential all make purchasing technology a risk.
Deciding to implement a technology system in your agency is a risk, but it also takes a small agency owner who is progressive and forward thinking. Firms that are utilizing technology solutions typically have a desire to swim upstream and write larger and better accounts. They need technology to level the playing field between them and the larger brokers and want to be perceived as larger. Agencies that are trying to move to a value-based model and provide value-added services are also a good fit for technology.