Viswanath Maddali, EVP and Head of Distribution & Marketing at ValueMomentum

P&C carriers are primarily focusing on four goals for distribution marketing strategies and it is expanding market share, enhancing experience, maximizing channel performance and improving operational efficiencies.

So each of these goals require multiple capabilities. For example, experience and engagement is about agent and customer portals to support sales and service transactions, digital convenience such as mobile-first capabilities supported by a intuitive insurance app and a modern website which are critical to support and augment agent channel.

Producer and distribution management system capabilities which are important to maximize the channel performance and currently these capabilities are supported by multiple legacy systems for the P&C carriers.

We believe that automating across life cycle management such as license management, onboarding management, compliance management, performance management, compensation management are extremely critical for streamlining efficiency and maximizing channel performance.

All these are supported by advanced analytics capabilities which power the decision making across the life cycle of distribution marketing.