Navigating Growth Challenges: Insurance Brokers and the Path to Improved Productivity

One of the key takeaways from my time at the Insuretech Conference was the discussion around the challenges faced by insurance brokers. McKinsey’s presentation on talent and onboarding painted a clear picture: with many brokers still operating large direct sales teams, improving "Producer Productivity" remains a critical focus. Brokers, often backed by private equity, are under increasing pressure to find new avenues for growth, and this is where technology, particularly AI, can make a significant impact.

A company I’ve seen making strides in this area is Hive Perform. Their performance enablement solution offers AI-driven insights that empower sales teams to operate at peak efficiency. Hive Perform combines real-time coaching with data-backed recommendations, helping brokers engage clients effectively and optimize productivity across teams. With Hive Perform’s trusted AI approach, brokers can stay ahead of industry challenges, equipping their teams to deliver high-value interactions that resonate with clients and drive growth.

One of the most insightful conversations I had was with McKinsey’s associate partner, who reiterated that brokers need to improve productivity organically. The PE-backed firms that dominate the market have hit a plateau in terms of acquisition-led growth. Therefore, tools that can increase the effectiveness of sales teams—be it through better training, more accurate data analytics, or efficient sales workflows—are going to be in high demand. For brokers, now is the time to invest in AI solutions that can help them navigate these growth challenges.