The words “digital” and “digital transformation” are being increasingly bandied around the insurance broking market but are also often misunderstood. Digital is not a “thing”, a silver bullet, or a different way of running a brokerage.
Digital is, in its most basic form, a catch-all term that relates to the application of modern online technology and related tools/data. Together, these can support and enhance how you run your brokerage and can, importantly, expand the services you can offer to your customers.
Customer and carrier relationships have always sat at the very heart of insurance broking and will continue to do so. Digital, however, can enhance that. Digital is not about automation and the removal of the human touch. It is not about having to learn data programming, coding, and new skills. It is about freeing up your time to focus on broking, enabling you to do what you do better and, to do things or offer services that you have not been able to before.