Consultative Broker Briefing - Readership Survey Results

The Consultative Broker™ Briefing
A Free Publication of C.R. Ekern & Company
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Copyright, C. R. Ekern & Company, 2001

Consultative Brokerage Year-End Readership Survey

In mid-December, 2001 we surveyed the readers of our Consultative Broker Briefing to create a mosaic of the marketplace and brokerage industry conditions. Below is a summary of the results. You may also click here to see the Consultative Broker Briefing that further summarizes and interprets the survey results.

Question #1 - For what percentage of your January 1st renewals do you already have your terms?
(Note: These results were compiled on December 18th, 2001)

76 to 100% of Renewals	12%
51 to 76%	24%
26 to 50%	29%
0 to 25%	35%

Question #2 - On average, what type of increase are you anticipating for your January 1st renewals?

0 to 20% Increase	15%
21 to 40%	67%
40 to 61%	12%
61% +	6%

Question #3 - On average, how many insurance carriers have an appetite for your account?

1 or 2 Carriers	45%
3 or 4	42%
5 or 6	9%
7 +	4%

Question #4 - As regards competition, how would you characterize the current marketplace?

Above Average	16%
Average	45%
Below Average	22%
Silent Night	8%

Question #5 – For new and renewal business, what is the most important issue?

	Price	Coverages	Resources	Relationships
New	27%	10%	32%	31%
Renewal	5%	4%	12%	78%

Question # 6 - Based on your experience, how does this hard market compare to prior hard markets?

More Competitive	38%
Same	25%
Less Competitive	10%
Unsure (or first hard market experience)	28%

Question #7 – Do you take time off during the Holiday Season?
(Interesting Note: Only 5% of survey respondents said they were going to change their vacation pattern this year. In other words, 95% said they were going to do the same thing they have done in previous years. Old habits die hard.)

	Yes	No	Unsure
This Year	10%	67%	23%
Previous Years	27%	73%	0%

Click here to see the Consultative Broker Briefing that further summarizes and interprets the survey results.

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Consultative Brokerage® Techniques are utilized by agents and brokers across North America in the development and retention of upper middle market revenues. The Consultative Broker Briefing is delivered electronically free of charge to selected agents, brokers, and other insurance professionals across North America. To subscribe to The Consultative Broker Briefing, please click here.