The debate between direct and agent distribution in insurance has given way to something more nuanced: omnichannel delivery.
Consumer research consistently shows that insurance buyers want options. Some prefer to research digitally and complete a purchase with an agent. Others want full digital self-service. Still others -- particularly for complex commercial or specialty coverage -- rely heavily on a trusted advisor. A single-channel strategy leaves significant market segments underserved.
Carriers that are winning across segments have built consistent underwriting rules and policy administration capabilities that can serve multiple distribution channels without creating data or operational silos. A policy bound through an agent should live in the same system as one bound online.
The operational challenge of omnichannel distribution is substantial, but the market access reward justifies the investment. Carriers positioned to serve customers however and wherever they want to buy will consistently outgrow those that cannot.
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