Carriers see the immense need to provide self-service options to their agents by participating in the Digital Marketplaces. Technology has grown leaps and bounds and there are a number of digital market places available. But if you dig deeper you will see that only about 10-20 Carriers are participating in the digital marketplaces and growing their business. That begs the question as to why all Carriers are not participating in the digital channels.
Commercial Insurance and Legacy System Challenges
In the Commercial Insurance space there are even fewer Carriers taking the opportunity to expand their distribution channels by participating in the Digital Marketplaces.
One of the biggest challenges the Carrier’s face is their Legacy systems. The Legacy Systems limits their ability to participate in these distribution channels. Carriers will tell you they don’t have enough IT resources to build APIs to work with the new Digital Marketplaces. Carrier’s IT teams have their hands full keeping the lights on and managing the day-to-day Compliance, Security and other challenges. So, they are losing out on opportunities to grow their business by expanding their distribution channels.
Tarmika’s Robotic Process Automation
Tarmika’s innovative Bridge Portal makes it easy for the carriers to add new distribution channels and participate in the digital marketplace. All the carrier has to do is agree to participate in the new digital marketplace and Tarmika’s Robos take over from there. Tarmika does all the heavy lifting by leveraging state of the art AI based technology to build API/RPA connecters to the carrier’s Agency Portal. Tarmika’s innovative technology means that the carriers don’t have to allocate their precious IT resources to develop APIs or other connectivity tools to participate in the on-line marketplace.
With all the rich features, Tarmika’s Bridge Portal, allows Carriers to focus on what’s really important to them, writing more business and serving their clients.