Broker Distribution Insight, 2022 – Which Insurers Lead The Way?
As the UK economy emerges from the COVID-19 pandemic, brokers’ priorities have shifted. Brokers are now much clearer that they see flexibility in underwriting as an insurer’s most important aspect. By contrast, in 2021, brokers noted the importance of a combination of factors when selecting an insurer.
Insurers must ensure they maintain strong relationships with brokers, as there was a large increase in brokers selecting no insurer as best in class for relationship managers in 2022. High-quality product offerings and services must be complemented with excellent relationship management for both sides to get the maximum benefit from collaboration.
The broker distribution insights market research report explores insurers who can be considered market leaders from the point of view of commercial brokers. It explores the factors brokers find most important when selecting an insurer with which to place business and analyzes how this has changed over the course of the COVID-19 pandemic.
Major Factors for Insurers Selection
After the pandemic highlighted the varying risk exposures of different industries, brokers are placing value on insurers that can assist in plugging gaps across their spectrum of clients. All types of brokers rate flexibility in underwriting/cover as the leading factor when choosing an insurer with which to place business. Compared to pre-pandemic levels, brokers are placing more importance on price/premiums and quality of cover, which is likely to be echoing their clients after a financially strenuous period for businesses. Despite the prevailing trend of the digital transformation sweeping across the insurance industry, brokers still place little importance on insurers’ e-trading capabilities.
Best in Class Insurers Analysis by Competitor
The broker distribution insights report provides a comprehensive analysis of the following class insurers:
- Aviva
- Allianz
- AXA
- Zurich
Aviva, Allianz, and AXA all improved their favorability for this category in 2022, suggesting insurers are adjusting well to the post-pandemic environment as brokers seek more effective and tailored cover for their clients.
Best-In-Class Insurers Analysis by Competitor
To gain more information on the best-in-class insurers, download a free report sample
Best in Class Insurers Analysis by Service
The broker distribution insights report provides a comprehensive analysis of the best-in-class insurers based on the following services.
- Claims service
- COVID-19 response
- E-trading capabilities
- Extranet sites
- Flexibility in underwriting/cover
- Online support
- Partnering with a new scheme
- Product material
- Compliance and regulatory support
- Relationship managers
- Speed of response to queries/quotes
For more insights on broker distribution, download a free report sample
Market report scope
| Best-in-Class Insurers | Aviva, Allianz, AXA, and Zurich |
Reasons to Buy
- Understand which aspects brokers are placing increasing emphasis on when choosing an insurer with which to place business.
- Compare yourself with market leaders and see how they are strategizing going forward.
- Help your business continue adapting to the post-COVID era in line with brokers’ expectations.
Key Players
Table of Contents
Frequently Asked Questions
The insurers who offer the highest performance level in the industry are Aviva, Allianz, AXA, and Zurich.
Get in touch to find out about our multi-purchase discounts
reportstore@globaldata.com
Tel +44 (0) 20 7947 2960
Every customer’s requirement is unique. We understand that and can customize the report basis your exact research requirements pertaining to market insights, innovation insights, strategy and planning, and competitive intelligence. You can also avail the option of purchasing stand-alone sections of the report or request for a country specific report.
Still undecided about purchasing this report?
Testimonial
“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.
GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”
“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”
Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.
Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.
Related reports
View more Non-Life Insurance reports
