How Technology Is Bridging the Broker Talent Gap
It’s no secret the insurance sector is facing a talent gap.
Millennials, more than any other generation before them, want to work in digital and technology-related jobs. They want to learn technical skills in their area of expertise, whereas, some brokerages are already exploring how technology, specifically analytics, can enhance the property broker role.
Property Brokers enabled with technology are becoming higher-level advisors with an elevated ‘Risk IQ’
Armed with the right technology, brokers can shift the conversation from reviewing standard policy terms and conditions in policies to:
- Designing optimal risk retention programs with maximized risk transfer arbitrage
- Negotiating data-driven terms
- Simulating how an insurance program would respond under different scenarios
An advisory role like this is precisely the type of role that can attract the next generation of potential insurance brokers and advisors.