Today we have published some extracts from our 2013 Underwriter Performance & Reputation study. The study has been running for ten years and in 2013 we personally interviewed over 450 brokers about their views of insurers in the London Market.
Please click here to view the press release
Key findings from the study include:
- A heightened emphasis on the importance of brand and the need for insurers to have a clear positioning and messaging to the external market. The trend data shows that insurers who successfully develop their brands see improved shortlisting performance.
- An increase in brokers wanting to do business with Company Market players. Company Market insurers have also seen a 40% increase in brand awareness in 2013 compared to 2012; indicating increasing credibility.
- Key reasons for brokers not choosing to do business with particular insurers centre predominantly around poor service and relationship issues. Insurers that do get it ‘right’ have strong communications and build strong relationships with brokers.
We currently have over 20 leading and specialist insurers who subscribe to the study. The report essentially sets ‘the challenge’ for insurers to begin to act upon and to measure their business performance.
If you would like more information on the study please contact Ben Bolton firstname.lastname@example.org