NIBA’s 2019 Broker Market Survey

NIBA’s annual Broker Market Survey (BMS) has now gone live and brokers have received their own unique link with instructions on how to complete the survey.

NIBA CEO, Dallas Booth said, “The NIBA Broker Market Survey is the one time each year when select NIBA members can give their views on the performance of the insurance companies and underwriting agencies they have been dealing with over the past 12 months. Importantly, the Survey is used to determine the General Insurance Company of the Year, which will be announced at the NIBA Convention in October.”

“We urge all NIBA members who have received their links to complete the survey and let us know their views. We look forward to hearing from you.”

The NIBA Broker Market Survey provides up to date information on the competitive performance of general insurers and underwriting agencies operating in the broker market over the past 12 months. To complete the survey you need to be a working broker qualified at the Tier 1 level and participating brokers stand to gain 2 CPD points by completing the survey.

The results provide a wealth of information to help insurance providers cultivate effective business relationships with brokers and ensure their products and services are competitive and responsive to broker client needs.

It measures both positive and negative information about broker preferences for general insurers and their products and services.

The BMS collects data from working brokers across the whole range of experience and business environments and is representative of the population of insurance brokers in the Australian marketplace. It presents the findings on insurer performance in three key areas:

  • top line results showing broker usage and their brand beliefs for the major national general insurance companies competing in the broker market;
  • data on the market share of general insurer and underwriting agency competitors across 37 of the most commonly marketed insurance policies;
  • data on both positive and negative broker perceptions of general insurers that: brokers prefer not to deal with and the reasons for this preference; brokers consider have hardened their hardened their attitude to claims in the past year and the reasons they perceive this to be the case; as well as general comments about the broker’s experience with insurance in the last 12 months.

If you are a general insurer or underwriter and wish to subscribe to the survey results, please contact Tony May on 02 9459 4300 or tmay@niba.com.au