Where brokers prefer to supply their clients

Analyst house Morgen & Morgen recently released its annual BU rating. Result: 447 out of 571 fares and fares combinations examined received the highest rating, ie almost 80 percent of all offers and 41 fares more than the previous year. Only 13 fares were rated “very weak,” mostly entry-level BU offerings.

The rating shows: Insurers continue to update their content. 27 companies now offer the part-time clause in their terms and conditions, making it easier for part-time employees to submit proof of employment (previous year: 14). The other side of the coin: BI protection has increased in price by about 1.0 percent across all rates. In an analysis of 50 common professions, according to Morgen & Morgen, prices for the cheapest rates in new businesses rose 3.1 percent. “However, well-rated insurers do not present a significant risk of strong premium increases in their portfolios,” says Andreas Ludwig, Head of Rating and Research.

Insurers accept most insurance applications

Important for the broker’s advisory work: Not everyone who takes out BU insurance is healthy. However, Morgen & Morgen found that 77 percent of applicants with underlying medical conditions were accepted without difficulty. 15 percent would be insured with exclusions and/or surcharges. Only four percent received a denial from the insurer.

Anyone who applies for a benefit in the BU case does not always receive this benefit. According to the analysis company, this fails in 38 percent of cases because the client cuts off communication with the insurer. Actually, you should save yourself this with a professional broker by your side.

What criteria do real estate agents look for when making their selection?

The nearly 37 percent of cases in which the insurer claims that the BI grade of 50 percent required for the BI benefit is not met are more difficult. Only medical advice can help. All other reasons for rejection are almost insignificant: pre-contractual violations of the duty of information (seven percent) and challenge or fraud (seven percent).

The BBG Betriebsberatung study “BU/Arbeitskraftsicherung 2022” has now examined the quality of insurers from the brokers’ point of view and identified their favourites. A total of 14 performance criteria were measured from the areas of corporate management, product management, sales support and processing service. 453 independent brokers participated, 84 percent of them insurance brokers, who average annual sales of 250,000 euros.

The most important performance criteria from a broker’s point of view

The most important performance criterion for intermediaries is the quality of the company’s product, followed by claims processing and rate flexibility. Value for money and financial strength fell slightly in the broker rankings. Awesome: Commission layout, bid calculator, and sales support are rated relatively unimportant.

Commercial insurance policies largely dominate broker sales in the employee protection field (as in the previous year, 96 percent). This is followed by basic capacity insurance at 47.9% (2021: 49.7%), invalidity insurance at 45.5% (questioned for the first time), BUZ pension at 32.7% (2021: 31%) and Terrible Illness Insurance at 28% (2021). : 31 percent) and BUZ policies with a pure premium waiver (26 percent unchanged), with multiple entries allowed. Multi-risk policies (accident or life) are again at their lowest, and dependency pensions (16.1 percent) and disability policies (16.8 percent) are also stagnant.

Page 1: What BI protection performance criteria do brokers consider most important?
Page 2: Who do brokers prefer to buy AKS policies with?

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