Annual Recipient of MGA Award: Direct Commercial Ltd
Direct Commercial Limited (DCL), a specialist commercial motor insurer, has released the findings of its latest Broker Survey, shedding light on the key challenges faced by brokers when dealing with insurers, insurtechs, and Managing General Agents (MGAs) in the commercial motor insurance sector.
The survey reveals that claims management, communication, and product suitability are the main areas causing concern for brokers. Claims handling is a critical issue, with brokers emphasizing the need for claims to be managed quickly, clearly, and fairly. This reflects ongoing concerns about claims processing efficiency and transparency.
Brokers also seek better clarity and responsiveness from insurers, insurtech platforms, and MGAs, particularly around claims and policy terms. The survey indicates that there is a demand for improved communication quality to effectively serve commercial motor clients.
Another challenge highlighted is the difficulty brokers face in finding suitable commercial motor insurance products that cater to the diverse and evolving needs of commercial clients. This suggests a gap in product offerings or flexibility from traditional insurers compared to insurtechs and MGAs.
The survey also points towards market pressures, such as rising premiums and complex market conditions, which can impact broker experience by increasing client demands and pricing sensitivity.
While specific breakdowns by insurer type are not publicly detailed in the survey, the emphasis on claims and service quality suggests these are universal pain points across distribution channels.
In addition to these challenges, the survey indicates a demand for better integration of digital tools in the commercial motor insurance sector. A significant majority (78%) of brokers see access to e-trade as important but not currently available. Only 22% of brokers believe insurers are adequately making their products available on effective platforms like Acturis. This highlights a clear demand for improved digital tools and platform integration among brokers.
In other news, DCL was named 'MGA of the Year' at the 2025 British Insurance Awards, recognising the company's exceptional growth, innovation, and broker-first approach. Phil Cunningham, the Chief Executive of DCL, led the company to this achievement in the context of the commercial motor insurance sector.
The survey also reveals significant learnings for insurers and brokers, particularly on FNOL procedures, as revealed by the DCL Broker Barometer. However, the report does not provide information about the DCL's own performance in digital tools or platform integration.
In conclusion, the DCL Broker Survey provides valuable insights into the challenges faced by brokers in the commercial motor insurance sector, highlighting the need for improved claims management, communication quality, and product suitability, as well as the demand for better integration of digital tools.
- The survey findings indicate that brokers are particularly interested in innovation in the industry, as shown by the demand for improved digital tools and platform integration in the commercial motor insurance sector.
- Insurers, insurtechs, and MGAs are urged to address concerns about claims and service quality, as these issues have been identified as causing significant challenges for brokers in the commercial motor insurance sector.
- While traditional insurers might be lagging behind in terms of product offerings and digital tools, brokers have shown a preference for insurtechs and MGAs that cater to the diverse and evolving needs of commercial clients and provide effective digital platforms for easier access to products.
