Insurers are limited in the number of brokers they can build a relationship with due to limited resources. As such it is important to understand brokers' strategies and concerns, so insurers can adapt their propositions accordingly. This brief highlights the favored growth and communications strategies brokers adopt and how they vary depending on the size of the broker.
Understand the challenges commercial brokers are facing so that you can adapt your proposition to maximize support.
Adapt your communications strategy to fit with brokers' preferred methods.
Identify opportunities to grow your broker relationships.
How are commercial brokers looking to grow their business?
What do brokers consider to be the biggest threat to their business?
While brokers may fear the shift to online in the small end of the market they do not seem to be adapting the lessons learnt in the personal lines market to commercial lines.