Brokers predict rise in consolidation among niche players
Research from Ecclesiastical reveals the biggest threats specialist brokers are facing as well as why they believe being niche gives them a competitive advantage over other brokers.
Specialist brokers have pinpointed that the largest threat they are facing is the rise of digital intermediaries, according to research by Ecclesiastical.
The survey showed that 57% of the 200 broker respondents said digital intermediaries were a threat to their business. This was followed by direct insurance (50%) and peer-to-peer insurance (41%).
When asked about future trends, eight out of ten specialists predicted that there would be increased consolidation among niche brokers in response
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