It's good to have a port in a storm
We can help you come back stronger
The hard market and COVID-19 have created a 'perfect storm' for insurance brokers. But with Cobra Network, you have the chance to come back stronger.
Pre-COVID, many brokers were already experiencing a hardened market – with rating rises, reduced insurer appetites and a lack of market capacity. Brokers were increasingly caught between their clients and insurers: not just financially, but also feeling the pressure of greater regulatory scrutiny.
As if that weren’t enough, lockdown hit in March 2020. While some industries prospered, many were severely affected and some were brought to their knees. The after-shocks are still being felt, and the net result is that there’s less money circulating in the economy. And there’s considerable market uncertainty.
Download Your Port in a Storm
and see how we can help you navigate your way into clearer, calmer water
What does this mean for independent insurance brokers?
Most brokers will need to be on their toes if they want to hold onto their existing customers and business, let alone find new wins.
But it’s not all doom and gloom. Some brokers will do well, especially if they specialise in sectors that continue to thrive. Even for the rest, there’s still business to be placed. It’s just a question of focusing on the right things in the right way and at the right time.
Of course, that can be difficult to do when you’re under pressure, your people aren’t all in the office, and you aren’t sure what to do for the best. And you have little idea of what the insurers are likely to do next. You can end up feeling quite exposed.
Help is at hand – and it’s FREE
There is a major source of support available. A way to better manage your business and your risks, and a way to access more products and markets, with some of the UK’s leading insurers.
And a way to get expert business advice when it comes to operations, compliance, risk management, business development, marketing, training, HR and much more.
All of this is available from Cobra Network, and it’s all FREE when you join – whether you’re a start-up or a large, well-established broker.
We’re here to champion the independent insurance broker, and to help you steer safe passage through the storm.
What can brokers do?
For some time to come, many brokers will need to be nimble just to win their slice of a smaller pie. They’ll need to find ways to bring in profitable business and manage their challenges. That may include:
- Cutting their operating costs
- Working hard to retain existing customers
- Finding new customers, possibly in new markets
- Finding new ways to add value to customer relationships
- Helping customers understand the risks of cutting their cover
- Handling more queries and claims
- Managing increased compliance risks
- Understanding how policy wordings and insurer commissions are changing
- Training and motivating their employees to respond appropriately
- Managing the challenges of home-working as well as any return to the office
- Avoiding PI claims for insufficient cover or unsuitable advice
- Responding to resilience tests by insurers, including vendor audits.
Why join Cobra Network?
We can help you with all of the above challenges. When you join us, your strategic account manager will be there to get to know your business, listen to your concerns, and help you find solutions.
A broad range of member benefits and services are at your disposal, which we can help you to target at defending and building your business – and developing your resilience. You’ll also benefit from the larger group influence and relationships with markets
Since our services are FREE, and members retain their ownership, identity and independence, joining Cobra Network may be something of a no-brainer.
What next? Three easy options.
It costs nothing to have a chat, so call us on 0330 0589 693 and put your questions to us.
Explore why you should join Cobra Network
Download Your Port in a Storm and see how we can help you navigate your way into clearer, calmer waters.
So go ahead, and download Your Port in a Storm now