As head of eTrading at Applied Systems Europe, I work closely with our team to ensure we focus on the challenges brokers face when generating quotes for commercial lines risks. According to the Insurance Times Digital Adoption Report, produced in association with Applied Systems®, 66% of respondents visit up to 20 insurer extranet sites weekly to generate a quote. In comparison, 27% said they visited between 20-40 sites weekly. This is a massive amount of time and effort wasted searching for the right coverage for their insured clients.

We understand this problem and are committed to providing our broker partners with cutting-edge innovation and resources to help them streamline their workflow and deliver faster customer service. Fortunately, I get to speak to many of our broker partners and hear about their successes and challenges regarding e-trading on our platform. Their feedback resonated with the survey results in that they didn’t have enough options to ensure they got the best quotes for their insureds.

“We are more committed than ever to helping our customers maximise their operational efficiencies to deliver faster customer service by reducing the need to visit countless insurer sites.”

Wayne Jefferson, Head of eTrading, Applied Systems Europe

While our tech stack gives them the efficiency they need, they want more from our insurer panel. As we rapidly build our commercial lines panel, we are more committed than ever to enabling our broker partners to maximise operational efficiencies and reduce the need to visit countless insurer sites.

In a recent conversation with VP and National Director of Arch Online, Tony Silve, we discussed e-trading adoption and what else may be holding brokers back. He said, “I think brokers sometimes talk themselves out of the e-trading journey. They are worried they cannot talk to someone with underwriting knowledge.” It’s understandable to fear your request going into a black hole when you send a message via technology. However, any good digital broker knows that good customer service has a healthy balance of technology and human interaction.

“At Arch, we focus on making underwriting expertise accessible. It’s not a faceless online team where you don’t get any response to a query. We pride ourselves on a powerful service proposition and underwriting expertise.”

Tony Silve, VP and National Director of Arch Online

We are confident this approach is how the industry will push further into digital connectedness. The more insurers focus on panel adoption whilst treating their broker relationships as if they are not automated, and the more brokers begin to e-trade and create more opportunities for everyone involved. It's not just about our businesses but about creating the best experience for the insured.

Get your copy of the Insurance Times 2023 Digital Adoption Report.