By Anoop Khanna
A recent survey of insurance brokers conducted by ARAG UK found that most brokers will want better communications from insurers over the next few months.
Better communications topped the list of what brokers want to see most. A quarter of those surveyed would like insurers to provide more information via online channel.
Asked about their expectations of how business will be conducted due to the pandemic on a permanent basis, over two-thirds of the respondents see more staff working remotely. Only 21% of the respondents said they expect operations to return to normal.
On a short-term basis, a quarter of the brokers expect face-to-face meetings to be possible with clients by September this year. Around 15% of the respondents feel that to meet clients in person would be possible only next year.
Speaking about legal issues facing them nearly 85% identified a type of legal issue that they had to deal with during the first few months of the lockdown, with employment disputes, property and contract matters representing almost three quarters of all responses.
Nearly 80% of the participating brokers felt that having access to a legal helpline as the pandemic unfolded early this year, would have been helpful to deal with the legal issues that have arisen due to the lockdowns and the pandemic.
A free commercial legal advice helpline was made available to insurance brokers and other members of Managing General Agents Association beginning April this year. This helped them to manage their legal issues during the lockdown.
The survey was conducted by ARAG at the recent Broker Connect virtual conference organised by Key Media. The results were released on 15 July 2020.
Asia Insurance Review