Allianz Cornhill has more than halved the membership of its Key Partner club to 150 brokers, following a two-year restructuring.
National sales manager Colin Bates said the reduction was necessary to allow the insurer to focus on its longer-term goals for the club rather than short-term “transactional issues”.
The move to a more exclusive club followed research among brokers, asking them to rate Allianz Cornhill's club against its competitors.
The remaining Key Partner club members will receive improved financial rewards, as well as pricing and acquisition benefits. These include new risk-trading benefits, such as training courses on presentation skills, risk selection and information technology.
They will also have access to a new legal
advice helpline and information on health and safety issues. An extranet facility will eventually allow brokers to monitor the progress of their clients' claims.
The club already offers Chartered Insurance Institute scholarship support for broker staff, marketing and business consultancy support and dedicated loss-adjuster assistance.
The level of business required to become a Key Partner broker is still a gross written premium of £300,000 for commercial insurance.
Scottish commercial broker Orr Kerr Dykes has applied to join Allianz Cornhill's Key Partner club because of its perceived exclusivity.
Account manager Stephen Griffiths said: “Allianz Cornhill's key broker club is attractive in terms of providing a certain standard of service and a its remuneration agreement will help our level of income.”