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Consulting Critical for Benefit Brokers

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Employee benefits is “a fast-growing vertical” that often outpaces the rest of agents and brokers’ p/c business, says Tammi Shapiro, who leads benefit solutions at Applied Systems. On this installment she covers the value of technology in a complex and process-heavy space. But more than tech and efficient processing is needed, she says. With research showing a third of employers are considering changing brokers in the next 1-3 years, consulting and advisory about developments such as industry trends is critical. “The human being needs to be the consultative part of the process,” Tammi says. Amid all the agent and broker M&A activity, the value of change management is often overlooked, she adds. “Tech and AI is a critical part of the story, but it’s not the only piece. While AI drives digital transformation, it can’t be successful without organizational transformation. “Yes, you need to invest in new technologies,” Tammi says, “but you also have… to train people who have done things the same way for decades. Use AI to almost reimagine how work gets done. When you’re doing things the same way, that doesn’t scale.” For insurance careers, AI “resets the playing field,” Tammi says. “There is a window now for someone wanting to grow their career. Ask yourself, ‘How can I embrace it and have my teams embrace it?’ And almost leapfrog.”