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Blog: The Benefits of Unifying Mix-and-Match Systems Throughout the Distribution Chain

Discover how Broker Insights ability to unify disparate information sources and system outputs is driving market-wide benefits.

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The commercial insurance sector benefits from various systems to help process the client data that is central to the industry. From software houses to CRMs, e-trade portals to proprietary systems; each organisation has its own choice of tools to help control and utilise data.  

Looking at the industry as a whole, there is a huge variety of system providers, creating a mix-and-match whole product solution that takes industry-wide data from the clients through to the carriers. 

With such variety both across the market and through the distribution chain, it is vital that Broker Insights operates as a ‘system agnostic’ platform that is able to accept data from any broker software house or proprietary system. 

Being system agnostic allows Broker Insights to take in data from brokers regardless of system choice, and for the data, it’s just the start of the journey… To explain: 

  • Broker Insights currently accepts data from 19 different types of proprietary system or software house (and counting).  
  • Some brokers, due largely to acquisition, upload data from multiple systems, with the platform helping to consolidate their organisational-wide view 
  • In total, the platform contains over £1.3bn GWP from c200 brokers covering c460 broker offices 
  • Ingested data contains over 1,500 naming conventions, which the platform consolidates into 132 unified descriptions 
  • The platform also overlays 500 appetite criteria 

Effective processing of client data is crucial to the efficiency of the commercial insurance sector’s operating model. Various broker and insurer systems provide a ‘mix-and-match’ solution across the distribution chain, all trying to yield the same result: effective utilisation of data.  

And so, the platform’s role is to consolidate, streamline and harmonise this data, to enable its users, both brokers and insurers, to talk in common terms.  

The process of unification brings shared opportunities into sharp focus and provides a common foundation, upon which all parties can build.  

Put simply, effective processing of client data = efficiency. Broker Insights achieves this through streamlining the sector’s operating model and combining the outputs of its various systems into shared insights. 

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