The insurance distribution landscape is evolving at a breakneck pace, and brokers who fail to embrace technology are set to be left behind. AI-driven tools and intelligent platforms are crucial for faster submissions, better client engagement, and stronger carrier partnerships. The difference between brokers who thrive and those who struggle increasingly comes down to how quickly they adopt tech solutions.
Speaking at a recent webinar, entitled: ‘Tech Adoption: The “Triumph” Moment for Brokers’, Intellect AI’s insurance business head Sandeep Haridas highlighted the urgency. “Tech-enabled distributors are clearly winning. When you have a dedicated system, an API connection to a carrier, you have near 100% quote ratios and long-term carrier partnerships,” Haridas said. “Early adopters secure advantages that last for over a decade.”
Haridas explained that the goal of the webinar was to share observations from conversations with agencies, retail brokers, and wholesalers.
“This is not a sales pitch. We are not trying to sell you anything. We are just going to share some of the observations that we have had,” he said.
Drawing on his 19 years as a carrier underwriter and three-and-a-half years at Intellect AI, Haridas emphasised that brokers can achieve meaningful tech transformation without massive investment. “You don’t have to be a top-five broker in the country to afford this transformation. This would be equivalent to one or two mid-sized deals at 5–7% commission rates,” he said.
Haridas outlined four key capabilities that brokers should focus on to modernise their distribution ecosystem. First is submission creation. “Complete submissions get the most quotes,” he said. “You need to create submissions with as much information as possible upfront. Don’t rely on clients to provide everything—they might not know what is needed. AI can help fill those gaps and make your submissions stand out.”
Second, brokers must be first to market. Haridas highlighted how even seconds can matter in a competitive environment. “If your submission is second for the same account, there’s a high likelihood you’ll get a declination. Technology helps you select the right markets and underwriters to increase quote ratios.”
Third, contract certainty is essential. Haridas described the challenges brokers face when manually verifying that binders, policies, endorsements, and exclusions align perfectly. “What we are trying to do is confirm that all the quotes you should have received are complete and there is no gap in coverage,” he said.
Finally, data-driven insights are critical for long-term success. Haridas discussed the concept of an enterprise knowledge garden (EKG), combining structured and unstructured data from CRM interactions, market signals, and expert conversations. “This allows you to build digital experts and provide actionable insights to clients and underwriters in real time,” he said.
In closing, Haridas urged brokers to choose partners who understand distribution ecosystems and can guide them through adoption. “The technology piece is straightforward. Change management inside your organisation is harder, but with the right partner, this path is achievable,” he said.
Copyright © 2025 FinTech Global
