Personal lines: Easier for you, Simpler for your clients

It may be tempting for brokers to seek refuge in mid-net worth and high net worth insurance to escape the intense competition in personal lines from aggregators and insurers’ direct sales, but regional brokers are not prepared to compromise on their customer base.

Market trends

I think this is an area which tends to lend itself more to the broker model, but I do believe there are a lot of brokers out there who are looking to offer the full range of products to their clients, irrespective of the level of that product and what the client wants.

The biggest challenge facing personal lines brokers is access to “economic ways” of trading personal lines, and the onus is on the insurer to make sure they can get this.

Brokers need slick, quick, easy to use solutions from insurers that enable them to do that more quickly and easily. It’s clearly the client’s choice whether they buy the products via a broker or not, choice is what the broker market should be all about.

We take personal lines personally

To help personal lines brokers, we have recently launched personal lines car, van and home products on our online trading platform Fast Trade. These core personal lines products are now available to brokers alongside the existing commercial lines products, saving brokers time they might have otherwise spent contacting an underwriter.

By making the core personal lines products available on Fast Trade, we will provide brokers who use the service with the best possible price. With savings promised to be passed onto the end customer, brokers can provide cover at a price that’s right for their client. Brokers will benefit from quick and easy access to be able to quote, buy, amend or renew cover, instant access to policy documents as well access to expert Aviva underwriters at the touch of a button through our live chat functionality.

Underpinned by world class underwriting, enhanced by our market leading Insurer Hosted Pricing (IHP) and backed up by our award-winning claims service, having these products available to trade online helps bring the best of Aviva to you and your clients.

Operating across direct, partnerships and brokered personal lines is something that Aviva is committed to going forward. We believe there is still a sustainable future in each of those segments, which is why we want to support each of them 

One third of Aviva’s home and motor business is currently done through brokers. That has remained consistent.

Supporting personal lines brokers

We know we have “more to do” to support personal lines brokers, and we’re committed to investing in personal lines now, and with an eye on the future. This is a trend that our brokers should expect to see continuing.

We are focused on moving forward in brokered personal lines and continuing to increase our level of activity in that area. Our view is clear: personal lines brokers add value to the client and are very much here to stay.