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The Evolution of Commercial Brokers

  • May 2015
  • 26 pages
  • GlobalData
Report ID: 3375732

Summary

Summary
Brokers continue to dominate the commercial insurance market despite competition from several other distribution channels. Previously, using an intermediary was the first point of call for consumers in search of insurance for a commercial entity. However, there is now greater availability of alternative options to obtain the right policy, depending on the type of insurance the client requires.


Synopsis
- Discover the customer service initiatives brokers think will have an impact on the industry over the coming years.
- Identify how brokers will develop their business practices in the coming years and how this will affect client engagement.

Reasons To Buy
- How are brokers interpreting innovation and are they likely to incorporate new customer service initiatives in the near future?
- Why has innovation been so limited among commercial insurance brokers to date?
- How are commercial insurance customers looking to develop their relationships with brokers?
- What is now expected by the modern consumer?

Key Highlights
Despite most areas of finance experiencing significant changes to their business practices over recent years, the insurance industry has remained largely the same as it was at the beginning of the 21st century. Other sectors have sought to make better use of the facilities that are now available, whereas insurance has been slower to adapt.

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ref:plp2015

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