NIBA seeks broker feedback to unveil industry leaders and trends

The National Insurance Brokers Association (NIBA) has launched the 2024 NIBA Broker Market Survey, in collaboration with NielsenIQ.

Conducted annually, the NIBA Broker Market Survey provides an independent assessment of the industry, gauging broker opinions and preferences regarding general insurers and their offerings.

NIBA Broker Market Survey’s key features

The 2024 survey, initiated last week, collects feedback from NIBA members to offer insights into broker attitudes and interactions with insurers, focusing on bridging gaps between brand expectations and service delivery.

This year’s key features include:

• industry coverage: The survey offers a detailed view of the insurance landscape
• award determination: The survey results contribute to selecting the winners of the Insurer of the Year awards, including categories such as Large General Insurer, Specialty Insurer, and Underwriting Agency of the Year
• practical insights: The survey delivers actionable information to help brands improve their market presence and align with industry key performance indicators (KPIs)
• benchmarking: Participants can use the survey to compare their performance with competitors and understand key market drivers

“NIBA is committed to deepening broker/insurer relationships by measuring and understanding the broker/insurer dynamic,” said NIBA CEO Richard Klipin. “The survey focuses on expectations, brand perceptions, and broker/customer experiences, providing brands with a competitive edge in the industry landscape.”

2024 NIBA Broker Market Survey details

NIBA is urging its members to participate in the 2024 survey. Survey details include the following:

• Start date: July 29, 2024
• End date: Aug. 16, 2024
• Incentives: Participants can earn 2 CPD points and have a chance to win a $500 prepaid Mastercard.

NIBA members will receive a personalised survey link via email from NielsenIQ on the launch date.

The data collected from the survey will determine the winners of the Large General Insurer, Speciality Insurer, and Underwriting Agency of the Year awards, which will be announced at the 2024 NIBA Convention in October.

The association recently unveiled the winners of its 2024 SA/NT Young Broker of the Year and Broker of the Year awards, honouring young and experienced insurance brokers for their contributions to the industry.

The national winners of the Young Broker of the Year and Broker of the Year awards will also be announced at the 2024 NIBA Convention.