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Broker Servicing: Which Insurers Lead the Way?

  • August 2015
  • -
  • GlobalData
  • -
  • 39 pages

Summary

Table of Contents

Summary
Our 2015 UK Commercial Broker Survey asked brokers which provider they consider to be best in class for 10 aspects of service, ranging from electronic trading capability to speed of response to queries or quotes. Brokers were also asked what services they felt were most critical to them, and which insurers were most supportive in winning business in different segments.


Synopsis
- Examine which insurers brokers consider to be the best for various aspects of service.
- Gain insight into what brokers look for in their insurer relationship when placing business.

Reasons To Buy
- Which insurers are best in class at servicing brokers?
- How did insurers that were considered best at servicing brokers achieve this?
- Which elements of service are considered most important by brokers?

Key Highlights
Where brokers appear to be primarily looking for insurers to differentiate sits around the provision of access to decision- making underwriters. The ability to have a referral effectively dealt with was regarded as the most critical element by brokers.

Commercial insurers need to constantly improve their e-trading platforms in order to stay ahead of the game, as an increasing proportion of smaller enterprise business is traded electronically. Insurers have a challenge ahead of them in breaking the apparently firm grip Aviva's Fast Trade has as the "go to" extranet.

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