Datamonitors commercial insurance broker survey analyses the opinions of 154 respondents covering their views of opportunities for growth as well as threats to their business, their experiences of working with different insurers and their attitudes towards FSA regulation.
Scope
Information on what brokers find satisfying and dissatisfying about their insurance partners Broker attitudes towards acquisitions, broker networks and consolidation in the industry Data on the impact of FSA regulation on the market
Highlights
Large national brokers and direct underwriters posed the largest threat to respondents, with more than 15% of brokers citing direct underwriters as a high threat to their distribution model while a further 14% perceived large national brokers to be a high threat to their business. Excellent claims handling, a high level of personal service and rapid query response are all valued highly by brokers. Excellent claims handling was valued most, with 79.9% of respondents citing this, while a high level of personal service and rapid query response were rated as important by 76% and 75.3% respectively. Most brokers surveyed by Datamonitor felt satisfied with the level of assistance they received in complying with FSA regulation from their insurance partners. Almost three fifths cited that their insurance partners were helpful and a further 16.2% cited that they were very helpful.
Reasons to Purchase
Gain an insight into broker attitudes towards the greatest threats in the market Understand broker appetite for acquisitions and future consolidation Gain a greater understanding of the issues facing commercial brokers in the UK.
