NEW YORK (November 16, 2016) – BOLT® Solutions, Inc. (www.boltinc.com), the leading digital distribution platform for the property and casualty (P&C) insurance industry, recently joined other leading insurance professionals in sharing insights on the insurtech movement and the impact it will have on the P&C industry at the 14th Annual Property Insurance Report National Conference. The conference is a leading gathering of industry leaders, offering analysis on market trends and a forum for professionals to shape the future course of insurance.
A main focus of the event was on the evolving customer, which has become a pressing topic within the insurance industry. Consumers are changing the way they buy products, and in doing so, inspiring ever-evolving standards for the shopping experience. Simultaneously, the insuretech movement is spawning digital natives who enter the market equipped with strong channel offerings and products that excite customers.
The problem for established insurers remains one of customer perception. “Satisfaction with the industry is not where it should be,” said Kathleen Garlasco, senior vice president, enterprise marketing, at BOLT. “New entrants are coming onto the scene with all of the bells and whistles and product options that customers want, and they are doing it at a lower cost and a faster pace than incumbent insurers. To customers, this looks like established carriers are out of touch with customer preferences or just don’t care.”
The Property Insurance Report National Conference underscored BOLT’s position that now is the time for insurers to adapt if they want to stay at the leading edge of the market. Insurers need the ability to integrate new digital and traditional channels, offer new products, and enter new markets, but many carriers are struggling to adopt digital capabilities due to legacy systems and long-entrenched business models.
“That’s the importance of events like the Property Insurance Report National Conference,” said Garlasco. “It’s a forum where industry leaders can gather together, discuss trends and receive and share insights that ultimately make the industry better for consumers and carriers alike.”
The Property Insurance Report National Conference is an annual event, attended in 2016 by approximately 250 insurance luminaries dedicated to creating a better future for the industry.
About BOLT Solutions Inc.
BOLT® Solutions, Inc. (www.boltinc.com), the leading provider of digital distribution solutions to the P&C insurance industry, is helping insurers transform the way they sell and market their products to consumers and business owners. Compatible with existing infrastructure, The BOLT PlatformTM provides a single interface that connects seamlessly with back-office systems and improves carrier reach through a vast market network of new products. Insurers gain the ability to bundle their offerings with those from other carriers, positioning them to meet all of the customer's needs without taking on additional risk. Designed to connect carriers and their agents directly to consumers and business owners, The BOLT Platform delivers the optimized solutions, and ideal experience customers expect today. BOLT is an Actua company (Nasdaq: ACTA).