Insurers have been told over and over, ease-of-doing-business is extremely important when attracting and retaining independent agents. More statistics are available to back that up. A recent survey of senior insurance agents, conducted by FirstBest Systems Inc., shows that many agents have already been using carrier portals, and that it’s all about time. Agents want real-time underwriter collaboration, upload/connectivity and processing and, ideally, a single system, according to the company.
Forty senior-level insurance agents, representing a variety of lines of business, responded to the survey, and 75.7% of them said their commercial lines customer service reps (CSR) use five or more portals/carrier websites regularly. Nearly 50% said that their CSRs save several hours daily by using electronic real-time carrier sites/portals to submit and track the progress of applications. Half of the respondents indicated that without a carrier portal, the average wait for commercial-line (WC, BOP, CMP, specialty, commercial auto) quote response can be up to several weeks.
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