Brokers will remain Front and Center
Specializing in information management, Joseph Valenti has been in the IT consultation business for over two decades now. His brainchild BrokrBindr has been made available to mortgage industry players a little over 18 months ago. What do you think would be the broker’s role in an increasingly online world? A combination of AI and other technologies will provide the major banks with the means to close deals with their own customers very efficiently. That may seem new, but the banks have always enjoyed that same privileged status. They’re going to exploit their competitive advantage as well as they always have. In future, as today, brokers will present a viable (and interesting!) alternative. Yes, brokers must invest in technology, but it is essential that the larger community also invest in awareness campaigns, as independent insurance brokers do. Creating the perception of value in the borrower’s mind is essential, and that is very much about marketing and positioning, not just AI and tech.
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