The 2023 edition of the Insurance DataLab Broker Performance Report was our most in-depth report to date, ranking 136 UK brokers for financial performance over the last three years.
Admiral-owned EUI came first in our rankings – picking up its second Insurance DataLab Gold Award in the process – and was joined by fellow Gold Award winners RAC Financial Services, JCB Insurance Services, General Insurance Brokers (UK), Roanoke International Brokers, DCJ Group Insurance & Risk Management, Avantia and Payment Shield at the top end of the market.
But there were a wide range of results, with a significant difference between the top and bottom performers, with overall scores across the market ranging from 24% to 73%.This means that the bottom performer in our research was some 49 percentage points behind table-topping EUI.
In such a polarised market, understanding where your strengths and weaknesses lie is crucially important, and that is why we have a launched a series of tailored benchmarking reports, with the first focused squarely on the broking market.
Our standard report includes the Broker Performance Rating for your company, and a breakdown of the scores for each of the pillars used to calculate this rating – profitability, growth and productivity. It also compares your performance with up to five firms of your choosing and the wider market.
Meanwhile our premium report explores performance in even finer detail, delving into the individual metrics that make up each pillar of our broker rating and comparing this against the market and your competitors. These more detailed metrics include the three-year EBITDA margin, growth in both revenue and profit, average turnover per employee and staff costs as a percentage of turnover.
To find out more, get in touch at info@insurancedatalab.com, or call us on 020 3488 8200.
