Offerings in the market can help insurers and agents, and may help redefine the overall renewal experience for every customer in the future: Novarica report
Boston, MA (Feb. 11, 2020) – Improvements in technology, coupled with clever product rate filing, are making it easier for insurers to take advantage of book roll opportunities with their distribution partners. In a new report, Book Roll: Overview and Prominent Providers, research and advisory firm Novarica examines new book roll capabilities available in the market and profiles some of the prominent technology players in the market.
“Historically, executing a book roll was a manual process and required numerous meetings between parties to orchestrate,” said Kevin Rall, Vice President of Research and Consulting and author of Novarica’s new report. “However, insurance companies that have implemented repeatable book roll processes are now reporting that up to 10-15% of their annual growth goals are being achieved through focused book roll activity.”
Click here for the table of contents or to access the report.
Report Summary
New technology capabilities are enabling insurers to execute book rolls with distribution partners more efficiently. Executing successful book roll opportunities can be challenging, but insurance carriers that implement solutions and processes to simplify data access, automate fit-gap analysis, and assist agents with transferring policies are having the most success. Solution providers are now making it easier for agents to share a book of business with insurers. The improvements in technology, coupled with clever product rate filing, can make executing a book transfer a straightforward and predictable process for both insurers and agents.
This brief provides an overview of the new book roll capabilities available in the market and profiles of prominent players, including Ask Kodiak, DataRobot, Groundspeed, IVANS/Applied, Terrene Labs, and Vertafore.
Click here for the table of contents or to access the report.
About Novarica
Novarica helps more than 100 insurers make better decisions about technology projects and strategy through retained advisory services, published research, and strategy consulting. Its knowledge base covers trends, benchmarks, best practices, case studies, and vendor solutions. Leveraging the expertise of its senior team and more than 300 CIO Research Council members, Novarica provides clients with the ability to make faster, better, more informed decisions. Its consulting services focus on vendor selection, custom benchmarking, project checkpoints, and IT strategy. For more information, visit www.novarica.com.
Source: Novarica
Tags: Applied Systems, Groundspeed, IVANS, Novarica, Vertafore
