With technology in the insurance industry developing at dizzying speeds, one can’t help but wonder how this impacts classic intermediary-based distribution methods. Fears of technology replacing intermediaries abound, with numerous insurers branching out to direct distribution.
However, according to Li Hao Zhuang (pictured), group head of agency distribution at FWD Insurance, agents aren’t going extinct, but transformation is necessary for the agency model to remain relevant in the rapidly changing insurance environment.
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