Make a targeted approach
Brokers still have a place in the personal lines market as long as they focus on servicing the specific needs of their customers. Jessica Pothering reports
Just like many industries these days, technology has changed the landscape of the personal lines market and brokers are being forced to decide how to hold their ground against the new competition.
In just a few years, aggregators and direct writers have snapped up a large chunk of what used to be secure territory for brokers. And because their models have proved so successful, brokers who want to stay in the personal lines market are faced with the choice of either imitating or innovating.
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