Survey: How can brokers grow business in challenging times?
This article was paid for by a contributing third party.
A recent broker barometer survey conducted by Insurance Age, in association with Close Brothers Premium Finance, explored current sentiment around business growth for insurance brokers in today’s environment, exploring current challenges and the expected sources, opportunities and outlook for future business growth. Padraig Floyd reports
The results of the 2022 broker barometer reveal a favourable change in sentiment compared with the previous Close Brothers survey conducted in midst of the pandemic (2020) but, with new and significant challenges ahead, brokers cannot afford to stand still and must look for every opportunity to grow business in order to thrive in the future.
Here we explore the key findings and what they can tell us about the state of broker business today.
Optimistic about growthSurvey respondents
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Market Access
In Depth: Businesses falling into the justice gap
Widely seen as a personal problem, diminishing access to justice also severely impacts businesses. Tony Buss, managing director at ARAG explains how the justice gap has become a major issue for companies in the UK and what brokers can do to help.
In Depth: LEI as a proactive shield - the role of the insurance broker
The widening access gap in legal systems, exacerbated by chronic underfunding and post-pandemic pressures, presents significant difficulties for individuals and businesses seeking justice and challenges for insurance brokers in effectively serving their clients. Izabela Chmielewska investigates.
In-Depth: Digital messaging – how can brokers use digital marketing to build a brand and customer base?
As digitalisation turns from lip service to concrete solutions, brokers are expected to keep pace with the rest of the industry.
Blog: Empowering brokers, enhancing affordability - the power of premium finance training
Allen Seldon, director of product and proposition at Close Brothers Premium Finance, explores how, with the right tools and training, premium finance can help boost broker revenue by enhancing affordability for customers.
Video Q&A: Close Brothers Premium Finance on how brokers can grow business in challenging times
Seàn Kemple of Close Brothers Premium Finance discusses the factors affecting business growth in the current market and the opportunities afforded by premium finance
Blog: Helping customers budget better as cost-of-living crisis bites
Premium finance is not just a useful cash flow tool for clients. It can also help brokers boost customer retention and plug insurance gaps, says Seán Kemple, managing director of Close Brothers Premium Finance
Blog: Don’t get left behind, your digital future awaits
Technology has long since become an integral part of all our lives, but as the sophistication of the tech and the speed of development increases, so too does the complexity of managing the risks it creates. James Stretton, left, and Matt Clayton, senior underwriters of professional risks at Tokio Marine HCC, investigate.
NMU takes the crown in Age’s 2022 Broker Satisfaction Survey
Brokers have voted NMU as their preferred commercial lines insurer in this year’s Insurance Age Broker Satisfaction survey, with Covéa Insurance in second place and CFC Underwriting in third.