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Market Struggles To Service Their Brokers

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Providing quality service ‘on time’ is a core part of many brokers proposition to their clients however, the number of brokers complaining about the markets service standards effecting their ability to provide their clients with a good service would appear to be increasing.

Lyndsey Thompson, Head of Operations for Incorporated Insurance Group Limited (IIGL), commented on the state of the market ‘Since the beginning of this year, we have seen a definite increase in the number of enquiries we have received where brokers are looking to move renewal business away from their existing carriers due to poor service. In some cases, they are within days of the renewal date and are still awaiting renewal terms’.

2013 has seen a number of changes in the insurance market with schemes being withdrawn and capacity pulled out of the market. Lyndsey continues ‘In the current economic market, brokers are increasingly  finding their businesses under attack so it’s important that they are able show their clients a high level of service so insurers and MGA’s need to make sure they are able to deliver the service the broker needs. We undertook a review of our own service standard and are were very pleased with the results. We found that 96% of Quotations are issued within 2 hours of receiving all of the risk information and 99% of Policy Documents are issued the same day as we receive instructions so it’s no wonder broker like using IIGL’.

Mike Smith, CEO of IIGL, added ‘Providing our brokers with a market leading service, is a core part of our offering so I’m delighted with the results of this review. Whether you deal with us via our online facility or directly with our Underwriters; we look to make trading with us a pleasure by hitting your deadlines not leaving you working to ours. Great service, knowledgeable underwriters and competitive rates….isn’t it time every broker looking to give their clients great service dealt with IIGL?