Broker Distribution Insight, 2022 – Which Insurers Lead The Way?

Pages: 33 Published: May 13, 2022 Report Code: GDFS0386IA

  • Overview
  • Key Players
  • Contents
  • FAQ
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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

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

Aviva

Allianz

AXA

Zurich

Hiscox

NIG

Lloyd’s of London

Table of Contents

Executive Summary

Most Important Factors for Insurer Selection

Best in Class Insurers

Analysis by Competitor

Analysis by Service

Appendix

Frequently Asked Questions

The insurers who offer the highest performance level in the industry are Aviva, Allianz, AXA, and Zurich.

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