Building on solid ground

The insurance market of today is virtually unrecognisable compared with five years ago. Andrew Dear looks at how brokers can rise to the new challenges facing the market

Brokers face constant consolidation within both their own profession and their insurance partners; incr-eased competition from direct writers and retail brands; skill shortages and regulation. Consequently, the need to differentiate to maintain and grow market share is paramount.

In former years there was a commonly held perception that brokers and loss adjusters were adversaries in the claims process. The broker was seen to be negotiating for the maximum payment for the client, while the loss