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The Ideal Producer Portal: New Celent Report

In the last five years, producer portals have become nearly ubiquitous, with over 90% of insurers providing at least some form of portal. The producer portal has emerged as a critical channel of interaction that few insurers can afford to ignore.

In a new report, The Ideal Producer Portal: From Cost of Doing Business to Industry Differentiator, Celent examines how insurers can continue to add value to their producer portals even after the initial investments have been made. The report tracks the evolution of common areas of producer portal functionality and technology through three phases of maturity, allowing insurers to determine where their producer portal excels and where it can be improved.

"With such an overwhelming presence of producer portals within the industry, the burden to produce a quality site has become much heavier for the insurer," says Jeff Goldberg, senior analyst with Celent's Insurance group and author of the report. "The importance of the portal will become even more pronounced as the next round of Internet-savvy employees enter the workforce."

This report also presents Celent's view of the "ideal" producer portal with a series of sample portal screens. Insurers hoping to increase their portal ROI can see where they stack up against the industry and determine how close their portal comes to reaching this "ideal."

"Unfortunately, there is a moving bar, and every year it becomes more difficult for an insurer to differentiate itself through producer portal technology," Goldberg adds. This report predicts what functionality will be required in the future to stay ahead of the curve.