National Broker Survey
Price point and carrier capacity have become increasingly important factors for brokers in recommending insurance coverage to their clients over the past year, according to Canadian Underwriter’s 2021 National Broker Survey. Canadian Underwriter asked 234 Canadian P&C insurance brokers across the country what they considered to be the most important factors for them. Seventy-one per […]
By David Gambrill | May 11, 2021
3 min read
Brokers don’t appear to be as enthusiastic about generating new business through referrals as they were before the pandemic, according to Canadian Underwriter’s 2021 National Broker Survey. In fact, brokers’ support for almost all traditional means to generate new business has waned over the past three years, the 2021 survey results show. And while the […]
By David Gambrill | April 13, 2021
For Canadian brokerage principals, interest in mergers and acquisitions as a growth strategy increased dramatically in September 2020, during the second wave of the pandemic, but seems to have cooled somewhat since then, according to the results of Canadian Underwriter’s 2021 National Broker Survey. That said, even with the statistical dip early this year, brokers’ […]
By David Gambrill | April 12, 2021
Canadian Underwriter’s 2020 National Broker Survey was a survey unlike any other. Conducted during a one-in-100-year global pandemic, we talked to 220 Canadian property and casualty insurance brokers about pressures on the distribution channel, operational challenges, best practices, optimal marketing and sales strategies, and how they feel generally about being a broker. COVID-19 has not […]
By David Gambrill | November 5, 2020
1 min read
Brokers tend to be an optimistic lot. In both 2018 and 2019, most brokers in our National Broker Survey predicted that their financial performance would be better the next year than it was the year before. The same was true in 2020, despite the pandemic and the global economic meltdown associated with it. More than […]
2 min read
Specialization remains the name of the game in the property and casualty insurance industry. For the past three years, brokers have extolled specialization in our annual National Broker Surveys. This year was no different. We conducted our study in August and September, during the COVID-19 pandemic. Despite the pandemic, 84% of more than 200 brokers […]
5 min read
Physical distancing or no, brokers still see referrals as being the best way to generate sales leads and gain new clients. “Word of mouth,” one broker in the 2020 National Broker Survey wrote, when asked about the most beneficial way to find new clients over the past 24 months. “Our brokerage is in a smaller […]
Brokers are more satisfied with their jobs now than they have been over the past three years, Canadian Underwriter’s 2020 National Broker Survey reveals. What’s more, they like their bosses better than their bosses think they do (at least, this year they do). Despite the pandemic and the hard market, both of which have left […]
By David Gambrill | October 26, 2020
In the dog-eat-dog world of trying to generate sales during a global pandemic, brokerage principals are increasingly turning to performance-based compensation to help improve the performance of their brokers, according to Canadian Underwriter’s 2020 National Broker Survey. Of the more than 80 brokerage principals surveyed by Canadian Underwriter during this summer, 71% reported performance-based compensation […]
By David Gambrill | October 16, 2020
Brokers are having trouble finding coverage for their clients these days, and the impact of Canada’s hardening P&C insurance market is fast becoming a strong challenge to the broker channel, as Canadian Underwriter’s 2020 National Broker Survey reveals. Results of the survey will be published in the forthcoming October/November 2020 print edition of Canadian Underwriter. […]
By David Gambrill | October 6, 2020
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