UK brokers waste millions every year according to survey
The British insurance brokers industry is wasting £2.3bn worth of profit every year, according to a new study by business analysts Plimsoll Publishing.
The report has found that:
10% of companies are making a loss 6% are losing money for the second year running 8% of companies made less than 3% return on investment.The findings suggest that 1224 of the 1654 companies covered would make more profit under new ownership, resulting in £2.3bn extra revenue in the industry as a whole. At the moment, accoring to Plimsoll Publishing, money is being thrown away because of companies’ failure to control their losses and manage their businesses more
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