By Higinio Iglesias, CEO at ebroker
Interview for the special In-depth Analysis of Mediation Segurosnews
How would you assess the current situation of the mediation channel?
The insurance brokerage channel in Spain is undergoing a period of transformation, a consequence of the sectoral concentration to which it is exposed, driven by the disruptive digital environment as a key factor.
Despite stiff competition from other channels such as bancassurance and disintermediated sales, brokers maintain their unique value in providing advice and customer proximity. With an estimated total of 3.800 brokerages operating, and a growth of 0,69% in 2023, the channel continues to show dynamism.
Technology is no longer optional, but strategic, oriented towards hyperconnectivity, automation, data utilization, and artificial intelligence. Sectoral initiatives such as the Mediated Digital Policy reflect the collective effort to strengthen a competitive and leading channel.
There's a concentration of brokers in the market and a decline in the number of agents. How do you assess this situation?
The concentration of brokerage firms is a natural market process, driven by the need for greater competitiveness and efficiency. Integration allows for streamlining operations, strengthening negotiations with insurers, and adapting to an increasingly regulated and digitalized environment.
Although the number of exclusive agents is decreasing, mediation continues to evolve with new distribution models.
Although the number of exclusive agents is declining, brokerage continues to evolve with new distribution models. More than quantity, the key factor is the ability to differentiate and adopt technology, which will allow brokerages not only to adapt, but also to emerge stronger with more efficient and sustainable models.
How do you assess the profitability of the business that brokers bring to your organization?
The profitability of business with mediators goes beyond the financial aspect, encompassing their loyalty and commitment to the technology.
At ebroker, indicators such as an NPS of +57 in 2024 and a low churn rate reflect brokers' trust in our platform as a strategic partner.
With a diverse community, from small brokerages to large organizations, we've developed a flexible solution that empowers their management and growth. The key isn't just attracting clients, but building long-term relationships where technology creates differential value.
What are the main demands that mediators convey to you?
Brokers are primarily demanding process automation, greater connectivity with insurers and clients, and now there is also growing interest in artificial intelligence due to the expectations it generates for operational efficiency and increased sales.
In response, ebroker has developed tools such as XIRIN, an AI assistant for strategic portfolio analysis, and SELL PRO, an AI-based cross-selling solution for detecting opportunities in health insurance.
User experience and cloud integration are key, along with the need for regulatory compliance and cybersecurity in your operations.
How do they support you in terms of training and technology?
At ebroker, we combine technology with training and support to ensure the success of digitalization in mediation. We have a team of 14 specialists who managed more than 2024 interactions in 40.000, resolving 84% within the first contact.
We have provided more than 2.000 hours of training and consulting, with personalized sessions to optimize the use of our platform. Our approach is based on innovation, but also on supporting brokers in their digital evolution, adapting to their needs and growth rate.
How do you expect the brokerage business to evolve in 2025?
By 2025, the intermediary business will be defined by digital consolidation, regulatory evolution, sector concentration, and a shift toward business model transformation.
Automation and technology will be key to providing a more agile and efficient service, while regulations will require solutions that guarantee transparency and regulatory compliance.
The sector's concentration will continue, with more technologically advanced, structured, and competitive brokerages. Although the digital channel will grow, human advice will remain essential. In this context, ebroker will continue to drive innovation to strengthen brokerage and its competitiveness in the insurance market.
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