Do broker portals belong on the 7½ floor?

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So, where’s the 7½ floor, you ask?

If you’ve seen the ground-breaking, classic film Being John Malkovich, that’s where the portal into John Malkovich’s mind was located. On the 7½ floor of an office building—with very low ceilings and hunched-over workers.

7.5 Floor

Being John Malkovich was released in 1999 when portal technology was at its peak. That was almost twenty years ago. How time flies when you’re busy entering many, many portals.

When the Internet was new to commercial lines, portals made sense. It attracted brokers to insurer websites and entering the data into the portal to receive a quote electronically was revolutionary.

So, why are so many insurers still building portals for brokers to enter data into?

From an efficiency stand-point:

  • Does it save time? Not if you’ve already entered the data into your commercial management system (CMS).
  • Does it give a quote in real-time? Sometimes.
  • Are quotes often rejected or referred because they don’t fit portal criteria? Yes.

That’s a lot of inefficiency if you’re trying to make your brokerage workflows streamlined and your staff more productive.

Unleash your data

We believe in the power of a digitally connected broker distribution channel. APIs are essential to connecting all players in this model. And standardized data is the key to making this happen (not duplicate entry into broker portals).

That’s why we developed our Smart Doc™ API technology—to help brokers leverage the data they already capture. The technology, using web-services, allows insurers and MGAs to import Policy Works submissions directly into their quoting engines. RSA Canada and Promutuel Assurance are two insurers that have partnered with us to introduce Policy Works’ Smart Doc™ API technology to Canadian brokers.

For some brokers, using insurer portals for quoting is fine. But if you’re the kind of broker who sees value in entering data once and reusing throughout the policy lifecycle, let’s talk. Your data is the ultimate endgame and we can help your commercial lines team to make the most of it.

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Topics: data, analytics, Commercial_lines, Workflow