Six years after launch, Broker Insights announces Gross Written Premium uploaded on platform to surpass £6 billion Read More
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Broker Insights VisionTM is tracking an average 27% growth in agencies with our insurer partners from the date a broker joins the platform. In fact, brokers who joined the Vision platform five years ago now have 40% more agencies with Broker Insights’ insurer partners, showcasing the benefit of data-driven decision-making and placement optimisation.
These growth figures do not factor in the overall agency count; instead they reflect a process of agency rationalisation and placement optimisation, as brokers add new agencies where relevant and move business from barely used markets.
Placement Optimisation – Making Connections:
Broker Insights Vision™ brings regional brokers and insurers together via data. Key to this process is the platform’s ability to match upcoming renewals with an insurer’s underwriting appetite.
The platform aligns a broker’s held book with the appetite of that broker’s insurer partners, and where a match is found, the broker can quickly identify the available markets and focus their engagement.
Agency Rationalisation – Pinpointing Opportunities:
Using insights drawn from the aggregated data within Vision, the Broker Relationship Managers (BRMs) at Broker Insights can help signpost opportunities for potentially productive relationships with insurers that a broker does not currently have an agency with.
In some circumstances, a broker may hold sufficient volumes of business that fall within an insurer’s appetite, but they have no existing relationship in place. The BRM will hold regular calls with their aligned brokers to discuss opportunities to rationalise their held book with preferred partners. These may not always be with insurers with whom they hold an agency, and in this case, the broker may be offered an introduction to a partner insurer that is keen to expand their broker relationships.
Impressive Growth Statistics:
If you would like to discuss opening an agency with one of Broker Insights’ insurer partners, please contact your Broker Relationship Manager directly.
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