The annual Insurance Times Broker Service Survey 2021/22 is now open to brokers nationwide. Brokers - how well has your insurer supported you during the last 12 months?
The Insurance Times Annual Broker Service Survey 2021/22, which powers the Insurance Times Five Star Rating Report, opens on the 11th of October 2021 and closes on the 12th of December 2021 - and Insurance Times wants your views.
Over the last 12 months, there has been unprecedented challenges throughout the insurance industry.
Brokers across the nation are facing significant challenges in the year ahead, emphasising the need for insurer partners to provide a five-star level of service throughout the insurance lifecycle.
Your views are vital in helping insurers shape their broker service in an evolving world. Those who take part will also receive a summary report.
There are two surveys - one for commercial lines and one for personal lines.
If you specialise in both, we’d welcome your input into both surveys - plus you’ll double your chances of winning a £250 John Lewis voucher.
PLEASE NOTE THE COMMERCIAL AND PERSONAL LINES SURVEY WILL OPEN ON MONDAY 11 OCTOBER 2021 AND CLOSE AT MIDNIGHT ON THE 12 DECEMBER 2021.
The Broker Service Survey Microsite contains the commercial and personal lines survey links, details on why brokers should take part, information for insurers, past insights, related news and how to contact us for more information.
Over the past 16 years, the Insurance Times Broker Service Survey has set the agenda for broker-insurer relations, highlighting where brokers feel insurers perform well and turning the spotlight on where insurers fail to match brokers’ expectations.
Why take part?
Insurers use the ratings and feedback received from the commercial and personal lines survey to improve their services and products. By taking part, you are directly improving the service and products that you provide to your customers.
Every broker that completes the survey will receive a free exclusive executive summary of the full report. This executive summary will include the overall ratings, general insights, broker feedback and more. This is otherwise only available for subscribers, who pay more than £600 a year.
NEW FOR THIS YEAR: Brokers completing the full programme of Broker Service Survey questionnaires will be eligible for a 50% discount on the cost of a normal Insurance Times individual subscription, halving the usual cost to £25 a month. Subscriber benefits include daily commentary on what the latest industry developments mean for your firm in our subscriber only Insight section and access to the full Top 50 Brokers and Top 50 Insurers results.
When you complete a survey, your details will be automatically be placed into a draw to win a John Lewis voucher worth £250. By taking part in both the commercial and personal lines surveys, your name will be entered twice into the draw.
Since 2018, to make the findings more accessible to brokers, we introduced a star system to showcase the overall performance of insurers among five core service areas. Click here to visit the Insurance Times Ratings page.
In 2020/21, commercial lines brokers awarded five stars to insurers Covéa Insurance and Markel for a third consecutive year.
Covéa’s five-star rating was reflected in brokers’ positive comments about the high level of service provided, even through the challenges of the past year. Furthermore, brokers were impressed with the fast turnaround times, claims service and underwriting flexibility.
About the service they have received over the last 12 months, one broker said: “I love their attitude to service, excellent SLAs – they don’t just talk the talk, but walk the walk. Even in lockdown, this was maintained - says a lot about Covéa.”
Markel’s five-star rating was reflected in brokers’ positive comments about its risk management support, tailored underwriting, comprehensive cover, friendly staff and more. Brokers across the country gave feedback on the insurers providing commercial lines insurance.
One broker, speaking abut the service provided by Markel, said the insurer “tailored a product specifically for a certain industry and client base of ours” and provided “easy access to designated decision makers”.
Three insurers were awarded four stars by brokers last year, five insurers were awarded three stars and one insurer achieved only two stars. It will be interesting to see if insurers have built on or hampered the achievements they made in the 2020/21 commercial lines survey.
Last year, personal lines brokers awarded five stars to insurers Covéa Insurance and Hiscox.
Covéa achieved a maximum overall five-star rating by brokers for a third consecutive year. This was reflected in brokers’ positive comments about the insurer’s strong relationship management approach, competitive cover, client friendly documentation and more.
After achieving a high four-star rating from brokers in the 2018/19 and 2019/20 personal lines survey, Hiscox in 2020/21 was awarded five stars by brokers. This was reflected in brokers’ positive comments about the insurer’s flexible and honest underwriting approach, wide and competitive cover and more.