New platforms shake up the distribution system
The second orthodoxy we challenge is the presumption that since insurance is often a complex, opaque, and misunderstood product, the expertise and sales skills of the industry’s agent-based distribution system precludes widespread disruption by new types of providers.
Evolving technological platforms are helping to turn that conventional wisdom on its head and threaten to render intermediaries irrelevant for many insurance transactions as consumers have a host of new online shopping and purchase options at their disposal.