Broker Distribution Insight 2019: Which Insurers Lead The Way?

Broker Distribution Insight 2019: Which Insurers Lead The Way?

Summary

This report explores which insurers are rated by brokers as best in class for 10 categories, including e-trading capability, extranet sites, product material, online support, and claims services. It highlights the standout insurers across the board and within each category over time. It also shows the categories in which the leading insurers are rated best by brokers. The report illustrates what brokers are looking for from insurers, enabling insurers to adapt their distribution strategies with broker needs in mind.

Broker servicing in the commercial insurance space is dominated by a select few insurers that have continually surpassed their competitors in most performance areas. When brokers were asked to name the insurer they perceived as performing the best across a number of different elements, Aviva, Allianz, and AXA made up the top three in all but two of the 10 categories.

Scope

- Aviva is the standout performer across the majority of categories.
- Brokers particularly struggled to select a best-in-class insurer for compliance and regulatory support, suggesting this is an area where market leadership remains up for grabs.
- Partnering with a new scheme, relationship managers, and claims services remain key battlegrounds for the three leading insurers, with Allianz and AXA remaining within touching distance of Aviva.

Reasons to buy

- Adapt your distribution strategy to ensure it meets brokers’ needs.
- Ensure you remain competitive as new innovations revolutionize broker servicing.
- Benchmark yourself against other insurers in the market.