Insurance Age blog: Brokers - out of date or keeping it real?

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Broking is a rather traditional and conservative market. That's not to say it is backward - far from it.

Brokers are about the only entrepreneurial aspect of what is largely a very corporate industry. But in one aspect it appears that it is brokers who are behind the times.

It seems there is not an insurer in the land that isn't trying to encourage brokers to trade online from the big corporate beasts to the small independent underwriting agencies.

There are obvious cost benefits for insurers as it means they need to employ fewer humans to pick up the phone to answer broker queries and it means, in

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Broking profits fall at Saga

Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.

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