Nearly 40% say the sector has not embraced innovation and 44% of brokers also don’t believe software houses have done enough to innovate.Almost 40% of brokers believe that the broking sector has not embraced technology-based innovation well, Insurance Age can reveal. According to a survey conducted by the British Insurance Brokers’ Association (Biba) 47% of respondents believe brokers are working well when it comes to innovation.
There was a similar divergence of opinions as to whether insurers have embraced innovation well. Some 51% of respondents stated that providers have embraced innovation well, against 42% taking the opposite view. Software houses have long been looked to as potential tech leaders. However, only 37% of brokers believed these specialists had embraced it well, compared to 44% who said they had not.