Why the broking sector continues to offer tremendous opportunities for the business leaders of tomorrow
27 January 2021
By Howard Pepper
Managing Director, Momentum Broker Solutions
Insurance broking is a dynamic industry; a relentless focus on service and value ensures that even in times of crisis, we remain relevant and valued by clients. We have built-in resilience – businesses need insurance, and the inability to commoditise our proposition in the commercial marketplace testifies to the value clients place on advice, support and dependable service.
Innovation is, of course, critical for our continued relevance. Big data will serve to reduce friction and unnecessary cost but will not replace the professional advice and bespoke service that the best of our industry provides.
How has COVID-19 and the economic downturn impacted our sector? As things stand, the pandemic appears to have done nothing to diminish the value of what we do and the value of our enterprises, with the broking world remaining vibrant, dynamic and remarkably robust. The latest FCA resilience survey shows that a little over half of the 3,370 respondents advised that the impact of the pandemic was either neutral or positive.