The NIBA Broker Market Survey 2017 to be released 31 July

NIBA’s annual Broker Market Survey (BMS) will go live on Monday, 31 July. You should receive your own unique link with instructions on how to complete the survey.

As usual this gives you the opportunity to provide your views on how insurers have performed in the past year, and it also forms the basis for NIBA’s General Insurer of the Year Award. You will also gain 2 CPD points by completing the survey.

To complete the survey you need to be a working broker qualified at the Tier 1 level. If you don’t receive a link and want to take part, please email Caroline Campbell at ccampbell@niba.com.au.

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.

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 Caroline Campbell on 9459 4313 or ccampbell@niba.com.au.