The value conversation

Steve Smith argues that personal lines customers are beginning to see the shortcomings of aggregators and that brokers must therefore engage with potential clients to promote their worth

The role of a broker providing personal lines insurance products is under threat. Comparison sites and direct insurers can offer run-of-the-mill products at the cheapest price, and, with substantial marketing budgets, are in a position to let millions of people know about it.

This price focus has resulted in suppressed premiums. The insurance industry has educated clients that price is the central consideration and in so doing has created a market in which the holy grail of retained business now