News analysis: What does Aviva’s commission flex move mean for brokers and their customers?
In February, Aviva told brokers using e-trading platforms Fast Trade and Acturis E-Trade that they could set their own commission rates within set parameters of between 0% and 35%. Saxon East explores what this move means for brokers, their customers and the wider SME market.
As the UK’s largest general insurer, Aviva used its advantageous strength when it comes to negotiating commissions. Over the years, this has led to some well publicised run-ins with larger brokers looking to bolster their own bargaining position, including Global Risk Partners, now Brown & Brown Europe.
While those wounds may have healed, whatever Aviva does seems to spark lively debate among intermediaries and the wider insurance market.
This was evident again recently, when Insurance Age broke
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