Independent brokers will be tapping further into technology this year to keep up with changing consumer demands — and cope with challenges posed by direct writers, said new Insurance Brokers Association of Ontario president Rick Orr.

Brokers and the broker insurers both need to better understand the demands of todays consumer.

Brokers must understand that there is a multi-faceted approach to this.

For example, consumers want their broker to be involved in their community — at which brokers are great — but consumers also want improved access which will require brokers to make changes to their business models.

Carriers will also need to work with the association to build better consumer facing technology that still delivers the choice, advocacy and advice that only a broker can deliver.

(Copyright Thompsons World Insurance News)

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