Within the next 10 years, digital networking will be more important for UK brokers than face-to-face networking, a new industry research has revealed.
According to
Chubb’s BIBA 2017 interconnectedness survey, British brokers expect the percentage of time they devote to digital networking, including on social media, to rise from 30% today to over 50% in the next decade.
On the other hand, the time allotted to face-to-face networking will drop from 70% to slightly less than 50%, brokers said in the survey.
“Our survey captures brokers at a fascinating moment in time. The results underline that, even in ten years’ time, face to face relationship building will still be extremely important in the middle market,” said Sara Mitchell, head of corporate division, UK and Ireland at Chubb.
“However, the pendulum is moving very clearly in the direction of online and digital networking and brokers are showing an increasing degree of confidence in their social networking and online skills.”
The Chubb survey also found that UK brokers are making progress in terms of realising social media’s full business potential, though many brokers still have some work to do.
Based on the survey results, around 20% of brokers consider themselves as “social media savvy,” 45% say they are “getting there,” while 27% admit being “slow adopters” and 8% are “technophobes.”
Related stories:
Insuring against digital transformation disruption
Tech drive gives insurer 75% profit growth
