Insurance is a relationship business, so the relationship between brokers and clients can only be successful if the two parties are essentially connected at the hip. Brokers must understand their client's business inside and out — especially when it comes to what challenges clients are facing. As client expectations and priorities continue to evolve over time, brokers will need to place an even heavier emphasis on communication going forward. In fact, according to Zywave's 2019 Broker Services Survey, 43% of insurance buyers would consider changing brokers due to a lack of consistent communication. The annual survey of employers provides insight into the constantly evolving broker-client relationship and reveals what businesses across the country are asking of their brokers. Some of this year's findings remain consistent with previous results, but respondents did provide new insights in regard to today's top business priorities and challenges. Notably, the survey identified multiple service gaps that exist between what clients expect from their broker and what their broker is actually providing. "Insurance brokers are expected to serve many different roles — from HR specialists and compliance consultants to risk managers and business advisors," Patrick Noonan, vice president of content development for Zywave, said in a statement. "The purpose of our survey is to help identify what's most important to their clients so they can prioritize the services they are providing and address their clients' most pressing business challenges." <b>With this in mind, explore our slideshow above to see the top five challenges property & casualty clients experience in 2019.</b> Related: |
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