In 2014 Hiscox London Market ran its first major broker survey to understand more about what brokers thought of its service; where the business performed well and where it needed to improve. The response threw up many positives in areas such as service, responsiveness, availability and communications, while indicating there was work to be done in others including risk appetite and consistency.
Two years on, Hiscox intends to repeat the process to understand how brokers feel about the business and whether it has addressed some of their concerns. Underlining the importance of understanding and acting on customer feedback, Paul Lawrence, Chief Underwriting Officer for Hiscox London Market, says: “Brokers are our principal source of business so it’s key that we understand what they like and don’t like about us, as well as how they want to trade with us as we shape our future strategy.
"The last broker survey we ran had some very positive feedback, but I was also surprised – and a little disappointed – to see that we were marked down on some aspects such as lacking clarity and consistency in our risk appetite. Since then we have worked hard with our teams to more closely define our appetite and hopefully brokers are now seeing more consistency.
“This follow up survey will help us better understand how effectively we have addressed this issue and others. We do not want, or can afford, to operate in a bubble and these surveys are an invaluable way of understanding how we can better help brokers and their clients. I’d like to thank in advance those brokers who take the time to help us complete the survey.”