BIBA 2010: Over half of brokers see value in online platforms
Over half of British insurance brokers believe using an online platform to trade with carriers will help them retain commercial insurance business that would otherwise go direct.
The finding comes from a survey by Ecclesiastical Insurance, published as the company launches its own platform today that will allow brokers to trade care and charity business.
According to the survey, 38% of brokers said commercial platforms will help retain business while a further 19% said the platforms will be of "great assistance" in retention.
Smaller brokers placed significantly greater value on platforms as a retention tool: almostaquarter of provincial brokers (23.3%) said online
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