March 03, 2022

RHS 134 - A Brain Dump on Digital Insurance Distribution Part II

41 minutes

Became a Master of the Close: https://masteroftheclose.com

After a 3-week hiatus, The Ryan Hanley Show is back, with a deep breakdown of the trends and ideas impacting the digital distribution of insurance products in 2022.

This is Part II of a two-part series.

Don't miss this one...

Episode Highlights:

Ryan discusses the Reuter’s report, “Insurance Distribution: 7 Key Trends for 2022” (3:06)

Ryan talks about trend number 1, M&A activity, and explains that increased M&A doesn't necessarily lead to increased distribution. (5:18)

Ryan explains that acquiring the right agency or set of agencies can be an enormous way to increase your distribution. (8:20)

Ryan discusses trend number 2, the resilience of intermediaries, and what's in their books. (10:17)

Ryan explains trend number 3 which is ecosystems openness, and the drive to circularity. (13:33)

Ryan mentions that the innovation train is waiting for no one and innovation is already happening.(18:15)

Ryan explains why embedded insurance, trend number 6, is something that we brokers should be most scared about. (24:07)

Ryans shares trend number 7, customers are driving flexibility. (28:39)

Ryan provides two different options and or ways how you can run your business successfully. (30:08)

Ryan shares how he wants to deliver and be different from the rest. (33:17)

Key Quotes:

"The most opportunistic brokers are going to be the ones that can step forward and take market share from the competitors." - Ryan Hanley

"But from a communication standpoint, flexibility is a key driver to scalable growth, in my opinion." - Ryan Hanley

"I tell you today, our process isn't perfect. It's certainly not everything that I want it to be. But I know where we're going." - Ryan Hanley

Resources Mentioned:

Reach out to Ryan Hanley

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By Ryan Hanley