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The concept of a Connector, or an organized marketplace of different policy options, has gained popularity in insurance industry as a way to reduce barriers to acquiring business advantage. There are a number of models of insurance Connectors, but to date only few insurers have utilized them. It is important to note that without certain external policies and internal elements, a Connector will fail to improve a company’s insurance system.
To achieve these goals, we have identified some vital policy elements to help a Connector work correctly:
External of the Connector, a state’s insurance policies should:
Internally, the Connector should:
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Connect to an Organized Marketplace and Reduce Insurance barriers to acquire Business Advantage