Analysis

Greater software house collaboration could reap benefits for commercial lines eTrading

By Tim Evershed 2024-11-19T08:00:00

digital collaboration

Commentators agree that software house cooperation on commercial lines digital trading is only happening in ‘pockets’, yet this teamwork could ‘provide the broking community with the tools they need to deliver an efficient but high level of service to customers’

Although eTrading has been available for a couple of decades now, the capabilities it offers for commercial lines products are still under debate.

The complexity of commercial lines has so far prevented the gains that have made in personal lines eTrading from being repeated, with brokers and MGAs not always able to secure commercial lines insurance products in a digital, touch-free way.

These challenges are not new, however, and some sector commentators are asking whether the time has come for greater cooperation between software houses in order to agree on a communication standard for commercial eTraded products.

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