Inaccurate producer data hampers digital insurance distribution, Vertafore says
ROP•Vertafore says inaccurate producer relationship data can increase insurers’ compliance exposure and reduce digital distribution efficiency. It says outdated agency relationships can raise appointment expenses, distort commission calculations and weaken oversight.
1. Data and distribution
Vertafore says outdated producer relationship data can increase insurers’ compliance exposure, raise appointment expenses, distort commission calculations and weaken carriers’ ability to demonstrate oversight. It says standardized contracts and consistently maintained relationship data can reduce reconciliation costs and make distribution changes less disruptive.
