Arch reveals value of human interaction following eTrading popularity

New entrant to Insurance Times’ Five Star Rating Report for Commercial and Personal Lines 2022/23 Arch Insurance has found that brokers “still value” human interaction despite the popularity of eTrading.

Mike Bottle, senior vice president at Arch Insurance UK, told Insurance Times that while digital platforms can improve efficiencies, it was just as important to invest in people to ensure the firm was ”positioned to deliver the most relevant solution” when trading.

As part of this, in the last year the business launched a regional trading team to provide brokers with direct access to underwriters for the placement of smaller premium business.

Bottle said that the team so far has proven to be “very successful” with some of Arch’s brokers who prefer face-to-face communication.

As a result, the insurer scooped a five-star rating from brokers, which Bottle said the firm considers “particularly meaningful”.

“We know that many of our brokers want the speed and efficiency that the electronic route provides, particularly for smaller, more standard types of cover,” he added

“Our approach is to trade in the way our brokers want to trade.

”While digital platforms can improve efficiencies, we recognise that our brokers still value human interaction.

”It is essential that we continue to invest in both aspects of our trading approach to ensure that we are positioned to deliver the most relevant solution.”

Meanwhile, in the two service factors – quality of cover and claims experience – Arch received four stars.

The insurer said it took feedback “very seriously”.

Bottle continued: “We are ambitious and dedicated to growing our relevance and service offering to our brokers.

“To support our ambitions, we will continue to invest in expanding our claims and underwriting teams across our regional branch offices – we have no intention of resting on our laurels.”

Revamping underwriting

In February 2023, Arch revamped its underwriting structure by creating four new leadership positions across property, casualty, speciality and digital underwriting.

This was done to forge closer ties with its brokers – all candidates were promoted internally.

Amanda Keer was appointed as head of property, Carl Jago was named head of casualty, Tim Cornwell was made head of specialty and Mark Ellinor was made head of digital underwriting.

They report to Stuart Danskin, director of underwriting.

In the Five Star Rating Report for Commercial and Personal Lines 2022/23, one broker in the southeast said that Arch’s “underwriting service has been exceptional over the last 12 months”

”The response time on quotes and the willingness to work with us to improve conversion has been over and above other insurers”. 

On the flipside, one issue that was flagged by another broker was the scope of the insurer’s wording in policies.

Bottle added: “While we are extremely proud of this recognition, we understand that there is always room for improvement.”

’Pursuing better together’ 

Initially bursting on to the scene in 2002, the insurer, which is a wholly owned subsidiary of parent company Arch Capital Group, strives to live up to its ethos – pursuing better together.

By this, it means building trusting and responsive relationships and working collaboratively with brokers to provide informed solutions for its mutual customers.

Bottle said the firm “worked hard” on its service proposition and that it was ”gratifying that our commitment to delivering that through our locally empowered and responsive underwriting teams is genuinely valued”.

“We maintain a clearly articulated broker strategy and work to deliver value through our clarity of cover, scope of products, willingness to problem-solve and quality of service.

”We recognise that each broker operates differently and work with our broker partners in the way that works best for them.

“We are committed to being accessible to our brokers and believe that the value of face-to-face trading in such a people-driven industry cannot be underestimated.”