In the competitive landscape of the insurance industry, a significant concern has arisen regarding platform manipulation and the structure of agencies and branches. Current trends indicate that if agents refrain from engaging with the existing platform, a persistent supply issue in the market will continue, ultimately impacting prices and competition.
As noted, the imbalance in agency participation has led to chaotic conditions within the sector. The lack of sufficient agents results in no supply shortages, thus highlighting the critical need for participation in the system—whether it operates effectively or not. This has led to the assertion that the state of the system needs urgent improvement.
Despite the platform’s intended higher performance standards, the industry has yet to see substantial positive changes. Stakeholders are encouraged to recognize these challenges and consider becoming members of the platform to enhance operational efficacy and market stability.
