Disability Insurance: Who Do Most Businesses Offer to Brokers?

May 5, 2022 – In the field of occupational disability insurance, Alte Leipziger has by far the largest share of the business in the independent broker market. Nürnberger and Swiss Life follow. This is demonstrated by the Asscompact “BU market study / worker insurance 2022”.

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Only about one in seven independent brokers had lower brokerage income in the labor insurance business last year than in 2020. This is down by a third compared to the previous year, when the proportion had doubled (VersicherungsJournal 5.5.2021) .

In return, more than four in ten intermediaries (2020: about one in three) reported an improvement. This is the result of Asscompact’s “BU/worker insurance market study 2022” (May 5, 2022). It was made by BBG Betriebsberatungs GmbH.

Asscompact study methodology

The study is based on an online survey conducted in March among insurance brokers and multiple agents. The net sample size is given as 453 people.

About 86 percent of those surveyed were men and about 14 percent women. They have an average of 26.5 years of professional experience at an average age of 55.4 and want to retire at an average age of 67.7. More than one in three wants to work beyond the age of 70.

As part of the survey, brokers were “asked, among other things, to indicate the percentage of their business shares (per unit) for their preferred suppliers. The percentage values ​​are interpreted as point values, so that each intermediary can distribute a maximum of 100 points to all suppliers”, explains the methodology.

Finally, based on the information, an index is formed in which the provider with the highest value receives 100 points and the other providers are scored as a percentage based on their distances.

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Old Leipzig before Nuremberg

The Alte Leipziger Lebensversicherung aG once again landed in the occupational disability insurance (BU) (May 5, 2021, April 2, 2020, April 4, 2019, May 3, 2018, May 4, 2017, 3 May 2016, April 8, 2015, May 20, 2014, 3.7.2013) in first place.

For the first time in many years, the company was able to extend its lead back to 34 points. The closest chaser, Nürnberger Lebensversicherung AG, had previously reduced the deficit from 66 points to 44 and from 36 points to 30 points.

Swiss Life defends bronze rank

Swiss Life AG, branch for Germany, which remained in third place, lost five points to the leader, but fell less than ten points behind Nuremberg. Volkswohl Bund Lebensversicherung aG lost slightly, but defended fourth place.

Allianz Lebensversicherungs-AG followed just a hair in fifth place, improving by more than three points and one place. Life insurance from 1871 aG Munich (LV 1871) dropped from five to six after slight losses. Canada Life Assurance Europe plc, the German branch, is still in seventh place, whose relative share fell only slightly.

In a tight race for eighth place, Continentale Lebensversicherung AG held the lead. Last year it was only enough for ninth place. HDI Lebensversicherung AG increased its relative holding by around a third from eleven to nine. The top ten is completed by Basler Lebensversicherungs-AG, which was in eighth place last year.

Ranking (Image: Wichtert)

More study details

The 359-page “BU/Employee Insurance Market Study 2022” contains detailed rankings on business actions and broker satisfaction, as well as analysis of major vendors. In addition to disability insurance, the basic capacity and dread disease/multi-peril segments were also examined.

The volume of the report can be ordered for EUR 2,677.50 including VAT from Sophia Tannreuther by email or by phone on 0921 7575823.

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