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Why cross-selling is the key to success as brokers go digital
Running your brokerage

Why cross-selling is the key to success as brokers go digital

Cross-selling will only become more important for brokers in the future. And it’s the brokers who learn to cross-sell that will thrive The world of insurance broking is constantly changing. Over the last 10 years, we have seen the emergence of new technologies which have reshaped the sector and kept brokers on their toes. It is important to stay abreast of technological advances because while the industry has indeed changed, insurance distribution is still ripe for disruption – and disruption is coming. We’re currently seeing a number of different types of brokers in the market. These include businesses selling high-volume

The future of insurance distribution in 2023 and beyond

Brokers are facing insurance distribution challenges that are set to reshape the insurance sector for good Experts have predicted that the cost-of-living crisis, regulation, consolidation, emerging technologies and changing customer demands are among the factors which will drive change in 2023. But brokers also have the opportunity to prove their value in the distribution chain. Cost-of-living crisis With most people tightening their belts, it is no surprise that the insurance sector is feeling the impact of the cost-of-living crisis. Steve White, chief executive of the British Insurance Brokers’ Association (BIBA), said the trade body had seen “worrying trends”, with brokers

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Insurance broker: The benefits of being an Appointed Representative

By Gemma Jarrett, Network Director Starting out as a business owner in financial services and insurance can be a challenge, not least because of the significant burden regulatory authorisation required by the Financial Conduct Authority (FCA) can be. But being an Appointed Representative can help alleviate some of that burden, allowing you to trade without having to find resource, time and money that you don’t have to become directly authorised by the FCA. Here’s how it works.  What exactly is an Appointed Representative in insurance? At the simplest level, in insurance, an Appointed Representative is an entity or company linked

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Understanding the risks posed by demographic changes to the Life Insurance industry

by Jeanne Elizabeth Daniel, Data Scientist, Stubben Edge Today, there is 1 person over the age of 65 for every 3 people of working age in the United Kingdom. By 2050, this ratio is expected to shift to 1 person for roughly every 2 people of working age. This forecast is based on currently observed declining fertility rates, a slow-down in increases in life expectancy over the past decade, and assumptions on future net migration, all made by the Office of National Statistics (ONS).    An ageing population poses several challenges to society, as well as the life insurance industry. Life

Read More

5 ways to increase retention and referrals

It can be difficult to retain business and if your insurance brokerage has noticed a drop in policyholder retention and referrals, it’s time to put in some extra work to differentiate yourself from other businesses. We’ve compiled a list of 5 ways to increase policyholder retention and referrals to help get your business back on track. Communication Staying in touch with policyholders is key when it comes to retaining them and in this technological era, it’s never been easier. Adding an easily accessible contact form/details to your website, having a social media presence and providing email campaigns and newsletters will

Read More

GoCompare: The future of comparison sites

When magazine publisher Future plc bought the GoCo Group, owner of price comparison site GoCompare in a takeover worth £594m, the investing world was divided on the merits of such a move. Stubben Edge CEO Chris Kenning gives his take on the deal and what it means for the future of the group. Some have said Future buying GoCompare was an inspired move, while others said the purchase made no sense. Which is it? There is actually quite an aggressive and compelling logic to the tie-up between the two. One of the reasons is that media websites get a lot

Read More

The future of insurance distribution in 2023 and beyond

Brokers are facing insurance distribution challenges that are set to reshape the insurance sector for good Experts have predicted that the cost-of-living crisis, regulation, consolidation, emerging technologies and changing customer demands are among the factors which will drive change in 2023. But brokers also have the opportunity to prove their value in the distribution chain. Cost-of-living crisis With most people tightening their belts, it is no surprise that the insurance sector is feeling the impact of the cost-of-living crisis. Steve White, chief executive of the British Insurance Brokers’ Association (BIBA), said the trade body had seen “worrying trends”, with brokers

Read More

Insurance broker: The benefits of being an Appointed Representative

By Gemma Jarrett, Network Director Starting out as a business owner in financial services and insurance can be a challenge, not least because of the significant burden regulatory authorisation required by the Financial Conduct Authority (FCA) can be. But being an Appointed Representative can help alleviate some of that burden, allowing you to trade without having to find resource, time and money that you don’t have to become directly authorised by the FCA. Here’s how it works.  What exactly is an Appointed Representative in insurance? At the simplest level, in insurance, an Appointed Representative is an entity or company linked

Read More

Understanding the risks posed by demographic changes to the Life Insurance industry

by Jeanne Elizabeth Daniel, Data Scientist, Stubben Edge Today, there is 1 person over the age of 65 for every 3 people of working age in the United Kingdom. By 2050, this ratio is expected to shift to 1 person for roughly every 2 people of working age. This forecast is based on currently observed declining fertility rates, a slow-down in increases in life expectancy over the past decade, and assumptions on future net migration, all made by the Office of National Statistics (ONS).    An ageing population poses several challenges to society, as well as the life insurance industry. Life

Read More

5 ways to increase retention and referrals

It can be difficult to retain business and if your insurance brokerage has noticed a drop in policyholder retention and referrals, it’s time to put in some extra work to differentiate yourself from other businesses. We’ve compiled a list of 5 ways to increase policyholder retention and referrals to help get your business back on track. Communication Staying in touch with policyholders is key when it comes to retaining them and in this technological era, it’s never been easier. Adding an easily accessible contact form/details to your website, having a social media presence and providing email campaigns and newsletters will

Read More

GoCompare: The future of comparison sites

When magazine publisher Future plc bought the GoCo Group, owner of price comparison site GoCompare in a takeover worth £594m, the investing world was divided on the merits of such a move. Stubben Edge CEO Chris Kenning gives his take on the deal and what it means for the future of the group. Some have said Future buying GoCompare was an inspired move, while others said the purchase made no sense. Which is it? There is actually quite an aggressive and compelling logic to the tie-up between the two. One of the reasons is that media websites get a lot

Read More

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