Technology could halve small commercial costs: Ryan

A technology app that can gather multiple carrier quotes for
multi-line coverages could slash frictional costs and revolutionise
the small commercial space, according to Ryan Specialty chairman
and CEO Pat Ryan.
Speaking at Axis Re's Future of Insurance Symposium in
Champaign, Illinois this morning, the industry veteran said that
frictional costs on small commercial business are currently in the
30-40 cents on the dollar range, including distribution and general
and administration expenses.
Ryan