Introducing Broker-Space

Digital innovation has cut out the middleman in many industries, and insurance is no exception. Direct to customer insurance has increased dramatically in recent years, compounded by the pandemic which has pushed more people than ever towards online-only services.

Whilst online direct to consumer channels have brought some benefits for customers, especially in the personal lines space, they often present a false economy for commercial lines customers. Insurance is a people business and the value created by brokers for insurers and customers alike is huge. From ensuring customers have a good selection of quotes to choose from, to suggesting policies they may not have thought of that leave them open to risk, to explaining more complex products (today: cyber; tomorrow: who knows?) insurance brokers are worth their weight in gold.

In order to be true risk advisors rather than transactional middlemen brokers need as much time as possible to focus on what they do best: building and nurturing productive customer relationships. This isn’t exactly easy when they spend up to 75% of their day hunting for quotes.

Introducing Broker-Space: a new platform whose mission it is to make every broker faster, better and more efficient and to give insurers the tools they need to make the most out of their brokers.

Broker-Space for Brokers

Brokers will always be at the heart of the insurance industry but current solutions force them to spend up to 75% of their working day sourcing quotes—taking them away from activities that truly create customer value. Broker-Space’s easy-to-use online platform gives brokers access to multiple quotes without the need to enter information more than once, and what’s more it’s completely free! In addition, Broker-Space’s smart form technology and Broker-Buddy—our helpful digital assistant—makes the process of searching for quotes even less of a headache.

Broker-Space for Insurers

Insurers benefit from brokers who are faster at serving their customers and who have more time to develop long-term productive customer relationships. But the value Broker-Space creates for carriers doesn’t stop there. Our digital assistant points out opportunities for brokers to sell other policies that suit their customers’ needs, meaning that no customer is left under-insured. It educates brokers on more complex policy types and reduces the need for referrals that take up significant insurer time.

What’s more, our data platform (Broker-Base) gives insurers a 360 degree view of the market, letting them benchmark their market share, pricing, broker service ratings and even commission against their competitors. We also help carriers identify and reach out to new brokers who will help them to achieve their business objectives.

Contact Broker-Space

To learn more, contact Broker-Space today and speak with an insurance sector specialist who can assist you and answer any questions you might have.

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