Speed of service voted top attribute for insurance providers

clock

Over 70% of brokers have ranked 'speed of service' as the most important factor when insurance providers offer services to them.

Research carried out by Assurant Intermediary also revealed that other factors important to brokers include accuracy and speed of commissions paid and selected IT support as a critical indicator of quality service.

Kevin Paterson, sales and marketing director at Assurant Intermediary, said: “The word ‘service’ can be interpreted in a variety of ways, so this year we wanted to drill down and find out what aspects of service matter most to our brokers.

“By understanding the specific aspects of service that are most important to brokers we can ensure we continue to align with their needs.”

The survey also measured attributes that brokers found to be less important. The two lowest ranking attributes included commission levels, which rated at 19% and local BDM support, which came in last at 15%.

“The BDM figure is particularly interesting. A high percentage of brokers also named it as ‘important’ or ‘very important,’ so opinion is clearly split on this," added Paterson.

"Perhaps those who don’t view it as important don’t receive a good service from their BDM and so don’t know what they are missing. I think this is indicative of the recent trend by some providers to pull back on BDM support.”

Assurant Intermediary carried out the survey amongst more than 2000 mortgage brokers in the UK.

More on Insurer

New non-exec director for ABI

New non-exec director for ABI

Sacha Romanovitch takes the role

Cameron Roberts
clock 04 November 2024 • 1 min read
Iress adds Zurich to The Exchange platform

Iress adds Zurich to The Exchange platform

Adopts ex-smoker questions

Jaskeet Briah
clock 24 October 2024 • 1 min read
IFoA names new CEO

IFoA names new CEO

Paul Lewis to take position

Jaskeet Briah
clock 18 October 2024 • 1 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read