Intermediaries are more positive about the service standards of their insurance partners, with satisfaction levels up from last year.
Of the 1,010 brokers that participated in the Biba Intermediary survey 2002, 65% of personal lines brokers said they were extremely, or very, satisfied with the service they received from their main insurer, up from 57% in 2001.
Commercial lines intermediaries' satisfaction levels went up from 34% last year to 35% that were extremely, or very, satisfied with their main insurer in 2002.
Both groups said competitive premiums and underwriting flexibility were the most important aspects of service, followed by commitment to the broker market.
Although 70% of the brokers said assessing insurer security was important, only 32% of commercial lines brokers and 12% of personal intermediaries subscribed to a ratings agency.
The groups were split on technological support from insurers, with 70% of commercial brokers rating it fair or poor but 46% of personal lines brokers rating it good or excellent.
