Employers Wanting More Leadership on Risk from Brokers

Zywave’s 2025 Broker Services Survey has been released and it offers some surprises. A high percentage of the 900 employers surveyed say they want their brokers to not just quote rates but to become strategic risk advisors, too.

Here’s more from the survey:

• 90% are very satisfied or satisfied with their brokers
• That same number, however, said their are gaps in risk management and market insights
• 94% expect brokers to delivery quality risk management support
• Just 50% say they’re getting that support
• 98% want updates on conditions
• Just 64% say their broker is providing them
• Employers want better communication from brokers
• 84% want regular updates
• 74% call timely, effective service a priority
• That’s up from 57% last year
• 66% want brokers to act as strategic partners and not just as salespeople
• That’s up from 53% in 2024

Patrick Noonan is the vice president of content development at Zywave. He said affordability is a big concern on both the commercial insurance and benefit sides of the broker business. He said employers say they’re struggling to balance a competitive benefits package with rising healthcare costs, keeping employees up-to-date on benefits and staying on top of state and federal laws.

Those using commercial insurance say they are challenged by affording adequate coverage, determining how much coverage they need, and understanding the exclusions within a policy.

“The responses to this year’s survey suggest that employers are increasingly concerned with affordability,” Noonan said and pointed out that brokers must bring more expertise to bear and help clients navigate risking costs and changes in regulations.

Source link: Insurance Business America — https://bit.ly/47VRhID