7 Things You Need to Know About Distribution Modernization for Revenue Growth
With a technology driven ecosystem, comes a completely new set of rules, but what does this mean for your company? This white paper on Distribution Modernization outlines the changes in information technology that are transforming insurance distribution to a faster, more efficient, and profitable set of processes.
Today, numerous insurance organizations struggle with technology limitations. Inconsistent producer data, complications with hierarchy management and payment accuracy, incentive design restrictions, onboarding delays and disjointed channel communication are some of the symptoms. Inefficient processes characterized by inordinate manual involvement detract from the bottom line. Not only is it difficult to be nimble and competitive, but it is also increasingly challenging to comply rapidly with ever-changing regulations.
Often outdated technology consisting of an assortment of homegrown and legacy applications — along with various disparate databases — is at the root of the issue. Insurers have difficulty modernizing such an infrastructure with the capabilities they have, so the efficiencies inherent in automation cannot be realized. As a result, an organization fails to maximize profits.
In this White Paper, you will learn that is not so much about the age of your systems, but whether said systems are able to keep pace with new revenue goals and their capacity to provide a true competitive value.
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