Brokers Prefer Combined eTrading Approach Using Extranets and Software Platforms

What's Happening?

A recent analysis by Insurance Times reveals that brokers are increasingly using a combination of insurer extranets and software house platforms for eTrading. The Five Star Rating Report: eTrading 2025, based on a survey of over 750 brokers, shows that 61% of brokers use both methods. Smaller brokers tend to rely more on insurer extranets, while larger brokers favor software house platforms. The report highlights the advantages of each approach, with insurer extranets praised for ease of use and software platforms for comparison capabilities.

Why It's Important?

The findings underscore the evolving landscape of eTrading in the insurance industry, where brokers seek to optimize their operations by leveraging multiple platforms. This trend reflects a strategic approach to balancing ease of use, pricing, and product differentiation. The preference for a combined approach suggests that brokers are prioritizing comprehensive solutions to meet diverse client needs. As eTrading continues to grow, understanding these preferences can inform future developments in insurance technology and platform offerings.