Feeling the pressure
Brokers could be forgiven for feeling a little hot under the collar following several years of growing threats to their main areas of business. Liz Booth examines the seriousness of the situation and asks how can areas such as wholesaling help to fill the gap?
The need for brokers to increase innovation and secure new revenue streams must never have felt so pressing as they continue to face pressures on their traditional streams of business.
These pressures have included the recent wave of mergers and acquisitions following Financial Services Authority regulation, the ongoing battle for the lucrative small to medium-sized enterprises (SME) sector and the relentless assault from direct writers.
Ian Drewe, managing director of K Drewe Insurance Brokers
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