What Insurance Brokers Really Want: The 2024 Guide to Top-Notch Support

When you work with an independent insurance broker, you're not just buying a policy; you're accessing their expertise and network. But what enables your broker to provide you with the best insurance advice and service? A significant part of the answer lies in the support they receive from the insurance companies they work with. The recent "Maklers Lieblinge 2024" (Broker's Favorites 2024) survey by procontra, involving over 1,300 participants (nearly 90% brokers), reveals exactly what factors define excellent broker support in today's market. Understanding these priorities can help you, as a client, evaluate the strength of your broker's partnerships and the quality of service you can expect.

The Top 5 Priorities for Insurance Broker Support in 2024

Brokers have spoken clearly about what matters most. Here are the key pillars of effective insurer support, ranked by importance:

1. Fast and Competent Claims Processing (78.8%): This is the undisputed number one priority. When you file a claim, you need a swift and fair resolution. Brokers value insurers who have efficient, transparent, and supportive claims management teams. A smooth claims process is the ultimate test of an insurance policy's value and directly impacts client satisfaction and retention.
2. Digital Tools and Processes (60.7%): The modern brokerage runs on technology. Brokers prioritize insurers who offer robust digital platforms for quoting, application submission, policy management, and communication. User-friendly portals and integrated systems save time, reduce errors, and allow brokers to serve you more efficiently.
3. Competent and Available Contact Persons (58.5%): Even in a digital age, human expertise is irreplaceable. Brokers need direct access to knowledgeable, responsive underwriters and support staff at the insurance company. Having a reliable, expert point of contact is crucial for resolving complex cases and getting accurate answers for clients quickly.
4. Attractive Commission Models (45.9%): Fair and transparent compensation is a practical business concern for brokers. Competitive commissions allow successful brokerages to thrive and invest in the resources needed to provide you with high-quality, ongoing service and advice.
5. High-Quality, Marketable Products (44.8%): Brokers can only be as good as the products they offer. They seek out insurers with strong, competitive, and clearly structured policies that provide genuine value and comprehensive coverage for their clients' needs.

What's Declining in Importance: The Shift to Digital Efficiency

The survey also highlights what has become less critical. Traditional markers of support have faded in the era of digital communication:

• Regional Coverage/Physical Presence (10.6%): While local expertise is still valued, the necessity for a dense network of physical insurer branch offices has diminished significantly.
• Regular In-Person Meetings (10.5%): Scheduled face-to-face visits from insurer representatives are no longer a priority. These have been largely replaced by efficient video calls, instant messaging, and email, which offer greater flexibility and speed for both brokers and their insurer partners.

This shift underscores the industry's move towards digital transformation, where speed, accessibility, and online tools trump traditional, location-bound forms of interaction.

Why This Matters for You, the Insurance Client

You might wonder, "How does my broker's relationship with an insurer affect me?" The connection is direct and impactful:

• Faster Service for You: When your broker has efficient digital tools, they can get you quotes, make policy changes, and answer your questions much faster.
• Better Claims Experience: A broker partnered with an insurer known for excellent claims handling can advocate for you more effectively and help navigate the process smoothly, leading to a less stressful and quicker payout when you need it most.
• Access to Better Products: Brokers gravitate towards insurers with high-quality products. This means you are more likely to be offered comprehensive, competitive policies that represent good value.
• Expert Advocacy: When your broker has a strong, communicative relationship with a competent underwriter, they can get expert insights on complex risks, potentially securing you better terms or coverage.

Choosing a Broker in the Modern Insurance Landscape

When selecting an insurance advisor, consider asking questions that touch on these support factors:

• "How do you typically handle the claims process with your partner insurers?"
• "What digital tools do you use to manage client policies and communication?"
• "Which insurers do you most frequently recommend for [your specific need, e.g., life, home, business insurance] and why?"

The answers will give you insight into whether your broker works with insurers that provide the high-caliber support necessary to deliver exceptional service to you. In essence, a broker backed by strong insurer partnerships is better equipped to be a powerful advocate and reliable guide for your insurance and financial protection needs.