THE FUTURE OF COMMERCIAL INSURANCE BROKING
The Future of Commercial Insurance Broking is a research report, authored by broking start up Konsileo, accounting consultancy PKF Littlejohn & the CII. The report takes a deep dive into the current state of the UK’s commercial insurance market for SMEs, plus looking ten years out and further into the future to how things could change given current challenges in the business insurance industry.
One of the main findings of the report is that most of the small-medium business clients surveyed perceive their current relationship with their insurance broker to lack of any personalised or risk assessment value.
As the authors predict, the broker-client relationship of the future will be based on data-enabled, valued-added services where the broker will be more of a personal advisor, exactly like a lawyer or an accountant.
Key topics covered in the Future of Commercial Insurance Broking report
- Commercial insurance broking in 2018
What is the current state of play & what technology is driving change for insurance brokers?
- The client-broker relationship
How far will the self-service model go, what do small-medium enterprises clients want & what current client service models are there?
- Brokers, clients, insurers and technology to 2028
How far can automated underwriting go, broker technology evolution, emerging technology in business insurance broking, opportunities for the use of IoT & AI
- The future for broking careers and organisational structures
Traditional insurance broking careers and how they could evolve, emerging trends in employment & new types of organisations
- Broking in 2028 – our manifesto for the insurance broker of today to future-proof their career in a changing landscape
Expert insights for The Future of Commercial Insurance Broking
Konsileo CEO John Warbuton, co-author of The Future of Commercial Insurance Broking report, highlights:
“One of the key roles of this report is to help individual insurance brokers understand how the profession is changing and what they can do to equip themselves for the future. But there is also a challenge to broking firms themselves to meet a growing desire for flexibility and virtualisation in working style, more diverse career options and paths and management styles based on collaboration and coaching, with a clearer link between contribution and remuneration.”
The best part?
You can also listen to our series of webinars recorded with the CII where we talk through the key topics in the Future of Commercial Insurance Broking report – and it counts towards your CPD! Listen here.
If you want to know more about new business insurance broking trends, download the Future of Commercial Insurance Broking report now in PDF.