Disintermediation they call it. From television stations to retailers and real estate agents, the internet has displaced old business structures for new lean models. Industry profits have fallen and middlemen are being squeezed.
You’d think that insurance broking, a classic middleman business, is headed the same way. If you’re looking for home insurance, why drive into town to join a queue when you could check out iSelect.com.au or Choosi.com.au?