UK and U.S.-based insurers share many concerns—one of which being agency satisfaction. In the past few years, the UK has experienced a soft market and broader financial crisis, which have resulted in competing demands from various channels and placed a continued pressure on expenses. As a result, many UK insurers have begun to focus more intently on these distribution channel concerns.
Celent questioned 264 UK brokers—veteran insurance professionals in a small to medium-size broker company, generating a significant book of business primarily in personal and small commercial lines from multiple insurers—about what makes them choose to do business with one insurer over another.
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