Introduction2005 proved to be a significant year in the commercial insurance market.
Issues including the transition to FSA Regulation, broker consolidation and threats from other distribution channels all left their mark on the brokerage market, presenting challenges for both brokers and insurers.
Datamonitor's survey offers a unique insight into the mindset of the broking community.ScopeThe opinions and views of over 150 UK commercial insurance brokers on a range of burning issues in commercial distributionBrokers' experiences of the transition to FSA regulation, including cost estimatesBroker's strategic intentions with regard to membership of broker networksHighlightsAlmost half of the brokers surveyed say that they are either definitely or maybe planning on acquiring other brokers in the next 12-18 monthsOnly 1.6% of brokers plan to join a broker network in the next year, illustrating the extent to which broker networks have lost their appealThe impact of FSA regulation on brokers is demonstrated by the fact that more than 70% of respondents say that FSA regulation has had a considerable or very considerable affect on their businessReasons to PurchaseObtain a comprehensive understanding of the current hot topics on the commercial distribution agendaUnderstand appetite in the brokerage market for acquisition and the potential for future consolidation to enhance your distribution strategyGain insight into the mindset of the broker community on a range of business-critical issues