You might be interested to learn that I have carried out a survey of corporate insurance buyers (my clients) and, blow me down, when asked more than 99% of them said they should know the total amount of profit earned by their insurer out of their premiums.
They were absolutely gobsmacked to discover that these profits were as high as they are, especially having had to put up with the collective hand-wringing of the past few years and continual attempts to increase rates.
However, when asked whether their own businesses should submit to such transparency, it was a different story.
The moral of this story is twofold: ask the right question and you will get the answer you want, and the pot often gives the kettle a call to say do as we say not as we do.
Dave Loochin
Commercial account executive
Towergate Risk Solutions ARG
