There is overwhelming concern regarding customer retention, a new survey by Insurance Times and the WDA has reported.
Presenting the results and speaking, at the Profitable Business Growth Conference in Cardiff, Professor Patrick Minford of the Cardiff Business School at Cardiff University, said 94% of the brokers and insurance companies who took part,said that it was "very or critically" important to future growth.
The survey also found that there was little concern about foreign competition but among key home competition, the main entrant was internet-only practices with 69% of those surveyed saying this would grow rather than reduce.
On regulation in the industry, the FSA was seen as costly with 60% saying it had a negative-against-positive impact on profitability. But 32% saw it as quite good for industry reputation.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
