Survey offers insight on what employers want from their insurance brokers
Milwaukee, Oct. 5, 2016 – Today, Zywave, Inc., a leading provider of software-as-a-service (SaaS) technology solutions for the insurance industry, released its annual Broker Services Survey.
The 2016 Broker Services Survey, which polled nearly 1,000 employers from across the United States, asked employers various questions about the services they want from their brokers, the challenges they face in the marketplace and what criteria impacts their decision to work with or leave a broker.
“Our annual Broker Services Survey is sought after by our partners year after year because it helps chart a course for how to deliver the greatest value to their current clients and prospects alike, protecting their current book while setting them up to win new business,” said Dave O’Brien, CEO of Zywave.
Key takeaways and trends
“Regular communication, acting as an advisor rather than a salesperson, and providing prompt service remain the top three criteria that impact an employer’s decision to work with a broker,” said Andrew Pease, senior market analyst at Zywave. “Year-over-year trends also show that compliance-related support is the most important service that benefits brokers can offer, especially as they relate to ongoing legislative changes under the Affordable Care Act (ACA). Ranking among the some of the most important services that a property and casualty broker or agent can offer are providing information that will reduce the cost of claims, as well as offering regulatory and legislative updates.”
Key findings include the following:
- Slow communication and poor service would prompt about two-thirds of survey respondents to change brokers.
- Approximately 3 out of 4 clients want to hear from their brokers every month, including 27 percent who want weekly communication.
- Other considerations include the broker’s ability to negotiate renewal and provide compliance support, legislative updates and benchmarking information.
The annual Broker Services Survey is provided exclusively through Zywave, and complete survey results and analysis are available to partners with Broker Briefcase®.
For more information about the 2016 survey results or Zywave’s full suite of solutions for brokers, contact email@example.com.
Zywave is a leading provider of software-as-a-service (SaaS) technology solutions for the insurance industry. The company’s products include web-enabled marketing communications, business intelligence and analytics, client resource portals and agency management tools. More than 3,500 brokerages worldwide—including more than 90 of the top 100 U.S. insurance firms—use Zywave’s proven solutions to differentiate themselves from the competition, enhance client services, improve efficiencies and achieve organic growth. To learn more, visit www.zywave.com.