CH 8 Flashcards
Impact of Technology on Insurance Transactions
Technology improves the speed and accuracy of insurance information recording and transmission.
Broker Benefits from Technology
Technology improves broker services, reduces costs, and increases capacity.
Technology and Human Error
Technology reduces the chance of errors in insurance processes.
Client Convenience in Insurance
Clients prefer easy and accessible ways to access insurance services.
Online Insurance Quotes & Transactions
Technology enables online quotes and transactions, satisfying client demands.
Broker Adaptability to Technology
Brokers need to use technology to effectively serve clients.
Broker-Company Relationship Changes
Technology has transformed interactions between brokers and insurance companies.
Importance of Technology Strategy
Brokers must integrate technology into their strategic business plans.
Technology and Business Objectives
Technology strategies, goals, and objectives must align with business needs and growth.
Technology and Client Expectations
Technology must meet client expectations, similar to other industries.
Brokerage Technology Objectives
Balancing the benefits for clients, insurers, and brokers while managing the growing volume and complexity of information.
Profitability and Technology
Technology improves profitability in brokerages by automating processes and reducing costs.
Technology and Client Understanding
Technology helps in better understanding client needs and predicting future requirements.
Targeted Marketing with Technology
Technology enhances the efficiency of marketing efforts by allowing the use of client data.
Technology and Administrative Efficiency
Technology streamlines administration, enabling brokers to focus on sales and client service.
