Insurtech launches in the US after analysing $1bn of premiums Read More
VISION for Brokers
Reveal the best placement opportunities and place more business with key partners.
VISION for Insurers & MGAs
Discover untapped market opportunities, increase your efficiency and boost your bottom line.
MatchPoints™
MatchPoints™ uses key data points to intelligently match the right broker risk, with the right insurers, at the right time.
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When non-standard risks fall outside the appetites of general insurers, successful placement relies on brokers finding markets willing to consider the business.
Brokers do this exceptionally well. In fact, analysis of over 640,000 commercial policies in the Broker Insights platform shows that these risks are placed across 1,000+ markets. This number raises an important question, however:
Focussing on renewal data for the past four years, we can establish that on average, hard-to-place risks stay with the same market for at least 23.3%* longer than standard risks. While that market was right at the time, is it still the best choice now?
Greater claims history and shifting insurer appetites can expand market options for once hard-to-place business, prompting the need for regular reviews. Brokers who do so benefit from:
It takes time and effort to explore new markets for this type of business. The unique MatchPoints™ technology within Broker Insights Vision™ instantly shows you markets with an appetite for your risk – pinpointing the right insurer, for the right policy, at the right time.
Many brokers also use Vision to define wider opportunities beyond individual renewals and find insurers looking to take volumes of particular business classes, all while saving time and energy.
To understand how we can support your business specifically, email enquiries@brokerinsights.com and follow us on LinkedIn. If you’re already part of the Broker Insights community, please contact your Trading Manager with any questions.
*The rationale for ‘hard to place’ is based on analysis of the data within Vision, to determine the number of markets writing a particular product, assuming that products with less markets are harder to place. For the purposes of this analysis, hard to place products are those with 35 or fewer markets.
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