The full report will be out in March this year whilst The Insurance Times has revealed headline results today. Given the importance of brokers to carriers there may well be some head-scratching amongst some insurance broker teams.
The Five Star Rating Report: Commercial and Personal Lines 2023 will be fully available for subscribers in March 2023. The full report includes additional insight around insurers’ performance levels, as well as granular broker feedback on insurers’ products and services.
In the race to digital transformation, it is wise for carriers to involve brokers in their strategies and test solutions to ensure they add value for their partners and work effectively. The brokers' motivations will be different and they value simplicity and effectiveness in helping collaboration rather than fancy bells and whistles.
For insurers wanting to receive in-depth analysis from the report, the 2023 Commercial and Personal Lines Data Insight Book can be acquired by emailing Aisha Roberts at Aisha.firstname.lastname@example.org. Analysis into broker group performance and feedback from over 800 brokers are included.
The most recent survey, conducted between October and December 2022, saw more than 800 brokers identify and rate the insurers with which they have regularly placed business during the past 12 months. This informs the Five Star Rating Report: Commercial and Personal Lines 2023. In 2023’s report, Arch Insurance and Covea Insurance ranked the highest when it came to commercial lines service for brokers. These two insurers were awarded the maximum five stars for overall service across all five of the service areas investigated by the Broker service survey.