Consumers rank broker knowledge equal with price

There remains an untapped well of potential clients for brokers made up of consumers valuing knowledge on a par with product price, according to the findings of exclusive research for Insurance Age.

The survey conducted by Consumer Intelligence across 948 insurance buyers revealed that consumers back compulsory qualifications for brokers.

When asked what they would look for when having to find a broker respondents ranked knowledge and price equally (see graph below).

Some 88.5% of participants put knowledge (see box right) as either ‘somewhat’ or ‘highly’ important. The level of responses from the same people set price at an almost identical 88.7%.

Drilling down into the