Fragmentation of business model forcing insurers to be flexible…pivot quickly.

Fragmentation is a major issue within the insurance industry today, according to Phil Reynolds, CEO & Co-Founder of BriteCore.

Traditionally carriers sold products through agents, and were backed by reinsurers. Now, insurtechs are challenging traditional distribution and underwriting models, while reinsurers are going directly to the market through MGAs (Managing General Agents). There is a lot of flux. 

Watch the entire interview on WRIN.tv.