How do your underwriting teams perform on service?

Mar 27, 2011

We've been working for the past five months on a major new study in the insurance sector, Underwriter Performance Monitor.  This substantial and high quality study will create understanding of London Market underwriter performance overall plus drill-downs into business classes.

 

The study uses advanced methods to understand what really drives performance and to show how service links to the the business that underwriters are shown by brokers.

One of the challenges for our researchers was to understand what drives performance - without this the research would have been difficult to use practically.  We have however found strong correlations between service performance, advocacy and future spend - so much so that we believe that this will be groundbreaking research for underwriters. And those who act on its findings will be the ones who successfully grow and thrive.

The study shows service performance is strongly influenced according to the ability of underwriting teams to create durable relationships.

There are substantial opportunities for commercial insurers to improve service and key account management, and to ensure they see the quality business from brokers they trust, no matter where they are in the market cycle.

The study is being delivered to our foundation clients in the last week of March and will be updated toward the end of the year.  From 2012 it will become an annual study, with significant scope for expansion into new geographies and specialist business classes.