Insurance brokers' resistance to change has been cited as their biggest threat.
An agency director of insurance consultancy network Coversure Insurance Services, Nick Hollands, said the franchise enquiries they had received from long established family-run broking businesses showed that many found it difficult to adapt to change in the modern marketplace.
"The advent of GISC gives everyone an opportunity to revisit existing business practice," he said. "Yet we find many firms only want to carry on just as they have for years.
"They want the same sort of computer system, only cheaper. They want cheaper rates for their shrinking book of clients, and as many agencies as they can get.
"Discuss consumer regulation, and the help requested is often how to avoid it, rather than embracing it."
He added that Coversure could help to provide the solutions if brokers had the confidence to face change.
