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Insurance Producers in Latin America

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25 October 2022

A call for improving their business experience

Abstract

Celent conducted a survey of producers with a set of questions covering management issues related to the use of technology, digital transformation, and producer behavior. This survey took place between July and August of 2022. As a result of the survey, Celent was able to gather the insights of 700 producers from about 15 countries.

Firmographics:

In an ideal world, producers would work their process of underwriting seamlessly, communicating with clients, coordinating campaigns with the insurer, and offering the right coverage for the right need, all from a tablet or a smartphone. However, in the world of producers, that stage of digital transformation is still a goal. The reality is that producers, especially independent agents, are still working on methods, strategies, and priorities for the digital transformation process. Only a few of them have been able to implement new tools, and even they do not necessarily answer to a digital transformation strategy.

While the goal of digital transformation is to build an ecosystem of parties and tools around the client and be able to automate the entire business process in every inch of its workflow, changes in customer behavior, new technologies, financial resources, and priorities continue to happen, changing the scope of transformation projects on the way.