The independent agent distribution channel consistently struggles to recognize tech trends that will impact it—and to act rapidly enough to keep pace with direct writers and emerging startups.
The Agents Council for Technology (ACT) Strategic Future Issues work group creates a biennial “hard trends” document, which addresses the technology trends that will impact our distribution channel. While this documents emerging trends, it’s not frequent enough to drive action.
That’s where the Changing Nature of Risk work group comes in. This group formed to quickly discuss individual trends and develop resources to drive discussion among key industry leaders in all sectors—carriers, vendors, agencies and associations.
Under the leadership of co-chairs Steve Anderson and Jerry Fox, this work group began meeting in April 2016 and immediately refined the list of key trends, then created a template of risk advisories. These advisories are short, call-to-action summaries that define each trend, its implications, recommended actions and additional resources.
The group has just released its first six risk advisories on:
Moving forward, the work group will continue creating risk advisories for additional trends on its list. To keep up, check out the ACT News e-newsletters and the Changing Nature of Risk webpage.
Do you have comments or a trend you think the group should focus on? Contact ACT staff.