Making the leap to becoming a
Digital Broker

What does it mean to be a
"Digital Broker"?

Digital Transformation is a term that gets thrown around a lot and can mean different things within different industries. Ultimately, it refers to the integration of digital technology into all areas of a business, fundamentally changing the way it operates for the better. Common goals for its implementation are to improve efficiency, value or innovation.

Countless industries have already benefited from Digital Transformation – from manufacturing and retail to hospitality, healthcare, and finance. The insurance industry has traditionally been slow to modernise, but it is now clearer than ever that consumer habits are changing and that it’s time for insurance businesses to embrace digital transformation. Those that do can expect significant benefits, including:

  • 9% higher revenue generation
  • 26% increase in profitability
  • 12% increase in market valuation

Source: How Digital Leaders Outperform Their Peers in Every Industry, Capgemini Consulting and MIT

For insurance brokers, there are three key areas where Digital Transformation can make a real difference:
Insurer Relationships

Technology can be used to simplify the relationship between your brokerage and chosen insurers. It can help prevent the double-keying of data, remove barriers between you and the underwriter and connect your clients to insurer products that perfectly match their requirements. A search for a product no longer needs to be an expedition!

Business Operations

Behind every forward-thinking, innovative brokerage lies a level of "Business as Usual" (BAU). The operational, day-to-day BAU elements of a business can greatly benefit from Digital Technology. Automation can speed up and simplify mundane and repetitive tasks. Clever management software can help you to stay on top of your business operations.

Client Relationships

Clients now expect 24/7 access to their insurance provider. The internet never sleeps meaning you can offer around-the-clock service outside of typical opening hours. Customer Experience (CX) technology allows you to remove barriers between your brokerage and your clients, complementing fantastic in-person customer service with instant and constant access to your services.

Nuworks provide technology and services which allow you to become a truly Digital Brokerage:

Omnichannel Distribution

Widen your net and realise additional income opportunities. Omnichannel distribution in insurance is an approach to sales and marketing that provides customers with multiple channels to connect with a brokerage's products and services. This includes over the phone, walk-ins, via a broker's own website, and through other online, mobile and social applications.

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Brokerage Management Software

Powerful Software to manage every aspect of your Insurance Brokerage. BrokerCentral gives you the power to streamline disjointed processes, making the placement and management of commercial insurance more efficient and profitable.

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Process Automation & Integrations

Build Efficiency into your workflows with our Automation and Integration Solutions. Automate repetative tasks and stop double-keying data with our Integration Solutions.

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Customer Experience (CX) Technology

Deliver unrivalled service to your clients, backed by our CX Technology. We can provide Customer Portals, Instant Online Chat, Digital Documents and more.

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