Monica Garcia
Commercial Director of ebroker
Questionnaire answered by Monica Garcia, Commercial Director at ebroker, as part of a report by Mediators Magazine on the management of Digital Kit grants. Published in October 2022.
How can technological tools help the development of insurance brokerages and agencies?
Currently, technology is key for any company, and in the case of insurance mediation, even though there is already a high technological level, there is still a long way to go in terms of digitizing all brokerage processes.
The different technological tools help mediation companies to cover, in different areas, their need for continuous adaptation of the business to serve an increasingly digitized hybrid client and an increasingly competitive and diversified market.
At ebroker we believe that the path towards digitization must address four key areas: data and its analysis as a lever for growth; communication and omnichannel, as a strategy to establish and deepen relationships with the broker's environment, but mainly with the client; marketing and CRM strategy, as the basis of insurance distribution; and, finally, operational efficiency, which will boost profitability and competitiveness.
What are the main shortcomings of mediators in technological matters?
Mainly, mediators need appropriate tools and functionalities for automation of processes and tasks, communications and workflows, which allow them to focus their efforts on other activities that add more value to their business, such as marketing or customer loyalty.
In general, there is also a lack in the management and use of data, an area that is becoming more and more relevant as a boost to the broker's activity through functionalities based on Data Analytics and Business Intelligence technology, allowing the analysis of data from brokerage through the design and construction of elements, indicators and dashboards; tools that help to better understand the business and its evolution to define future lines of action.
The reception and interest have been very good, many mediators who did not have an efficient management system have decided to go digital by taking advantage of this aid program
How is the rate of application and reception of Digital Kit grants by mediators?
Since the term of the first phase began in March, there have been numerous requests that the mediators have sent us to obtain aid from the European Funds Next Generation through our Digital Kit offer, and also at a fairly good rate, which has meant a great boost to the digitization of the mediation channel. The reception and interest have been very good, many mediators who did not have a management system have decided to go digital by taking advantage of this aid program. Others who already had certain digitized business processes have approached the Digital Kit as an opportunity to improve some key areas of the brokerage and thus be more competitive in the market.
In September it is expected to be extended to smaller companies. Do you think applications will skyrocket?
Phase 2 of the Digital Kit aid covers companies with between 3 and 9 employees, one of the largest segments of mediation companies and which has more businesses eligible to apply for aid.
From ebroker, we expect a large number of applications as of September 2, both from the brokerages that are part of our user community, as well as from the rest of the professionals and distributors that belong to the channel of brokers and insurance brokers.
What obstacles are mediators encountering to access them?
The mediators have transmitted to us the lack of information and advice in general about the aid of the European Funds, in addition to a certain complexity for the understanding of the different categories, supplier management, etc...
In this sense, from ebroker we have provided support in the request, understanding and processing of the Digital Kit technological solutions package that best suits each broker, accompanying them at all times in their management and processing through a line of solutions and specific actions of support for.
How could you improve the application and management process for these grants?
With greater agility, communication and transparency from the Red.es body in the process, since in some cases it takes a long time and until the end of the process, the status of the request is not known in a timely manner, which makes the execution a little more complex of the aid application.
What technological solutions are the ones that mediators are demanding the most and why?
The most demanded solutions are the functionalities and services that fit into the categories of Customer Management, Process Management and Business intelligence and Analytics.
Specifically, companies in the first segment (between 10 and 49 employees) have mainly sought to boost their digitization with digital tools. Business intelligence and Analytics, since they are normally brokerages with a fairly developed business and that seek to cover their need for advanced data exploitation for decision making.
On the other hand, brokerages that belong to the second segment (between 3 and 9 employees) have told us of their need to address functionalities that cover process management, since, not having as much capacity as other larger companies, the automation of processes will allow them to focus their activity on business growth while ebroker technology allows them to increase their operational efficiency.
The most demanded solutions are the functionalities and services that fit into the categories of Customer Management, Process Management and Business Intelligence and Analytics
How is the help being provided by digitizing agents?
Digitizing agents are key players in the processing of aid, disseminating, informing and resolving the doubts of insurance brokers so that they can access the tools that best meet their digitization needs.
At ebroker, we are totally committed to ensuring that insurance brokers can benefit from these aids and for this reason, as Digitizing Agents, we have created a specialized permanent department that is in charge of resolving all doubts and providing support throughout the process, as well as of the periodic dissemination of information on deadlines, procedures and news through continuous communications and the organization of webinar sessions.
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