Brokers need to be proactive to survive
To survive market uncertainty and the economic downturn brokers need to think outside the box, reassess their business models and seek to capitalise on their strengths, according to Paul Muir, MD of 1 Answer Network.
Brokers have been hit hard by the increase in the FSCS levy, adding to the challenges they face in a difficult operating environment.
Muir argues that brokers need to discover and take advantage of whatever their unique strength is, and endeavour to offer the customer the best experience possible.
This could include adopting a more pro-active approach with customers, as well as enhancing their presence online by offering an online quote generator.
In addition, brokers need to become more efficient and reduce expenditure, with Muir stating that utilising a network can tackle the logistical challenges of back-office functions, saving the broker time and enabling them to focus upon customer service.
Category: Insurance News
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