More face-to-face meetings among brokers’ biggest asks of insurers – Aviva

The majority of brokers feel more face-to-face meetings will help improve insurer service across the industry.

That was according to Aviva, which revealed today (13 May 2024) that insurer service topped the table when brokers were asked by the firm about market challenges.

To help improve this, 21% of brokers felt underwriting licences needed to be increased, 20% wanted flexibility on risk vs premium, another 20% wanted more help in detecting underinsurance and 19% wanted faster quotes.

Face-to-face contact was the winner, however, with 41% of brokers wanting more of this during 2024.

To help with more in person meetings, Aviva has opened two new trading branches that will be based in Chelmsford and Southampton.

“Insurers clearly have more to do to improve service levels – nowhere more so than through increasing face-to-face engagement,” Dave Martin, managing director of UKGI commercial and chief distribution officer at Aviva, said.

”Our recent opening of new Aviva branch locations in Chelmsford and Southampton will make us even more visible and responsive to brokers in those regions, enabling more face-to-face meetings, brokers’ top request from insurers.”

Growth

The figures were revealed in Aviva’s Broker Barometer report, which included a survey of 251 general insurance brokers.

It also found that brokers were more optimistic about growth than they have been since before 2020, with 83% expecting their business to grow this year.

Some 39% of brokers believe organic growth will be the source of their expansion plans, while 33% said new customers would drive this and 32% said new service offerings.

Mergers and acquisitions (M&A) account for 26% of brokers’ growth plans.

“With Biba just days away, Aviva’s Broker Barometer survey paints a clear picture of how brokers are feeling as we head into the biggest industry event of the year,” Martin said.

“It’s great to see brokers’ optimism around growth prospects return to pre-pandemic levels.

”Although economic headwinds remain, brokers are clearly looking for opportunities to expand and we are well positioned to support our broking partners whether they plan to grow organically, by offering a wider range of services, or by growing their customer base.”