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AgencyPort Releases Current State Of Insurance Technology Report

To determine which technologies are succeeding in moving the industry from paper to online

AgencyPort, a provider of web-based solutions to the property and casualty insurance industry, has unveiled the findings from its polling of independent insurance agents on their views of the current state of insurance technology.

AgencyPort conducted the 66-stop Agent Insight Tour to determine which technologies are succeeding and which are not in moving the industry from paper to online, what challenges still exist and what steps the market must take to improve the way insurance is transacted.

AgencyPort’s research cites specific shortcomings with carrier technology that cause agents to choose other carriers for quotes. Additionally, AgencyPort staff lay out a vision for solutions that carriers can adopt to help affect change in the industry.

According to AgencyPort, to provide agents with the kind of business transaction environment they envision, carriers will need to rethink basic business practices and move to relax the specialisation of their products and process.

Steve Hauck, president of AgencyPort, said: “As vendors, we all have to enable better standardization of products and technologies, but true industry change is not just about improving technology. Common product definition among carriers remains the largest obstacle to providing agents what they want. It’s a big assignment, but it sits at the very center of what we consider meaningful change. In the meantime, there is today’s reality, and AgencyPort remains committed to helping keep P&C carriers ahead of the curve, investing heavily in R&D for new product development and enhancements to our existing solutions.”