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Brokers question QBE’s crown

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Insurance Business | 10 Oct 2012, 12:05 AM Agree 0
Despite being voted insurer of the year for the 11th year running by insurance brokers, there are still some surprise voices of discontent within the broker community towards QBE…
  • Sarah | 10 Oct 2012, 11:32 AM Agree 0
    QBE by far are the worst insurer out there in terms of service & flexibility. The products are ok, but if you arent getting service or flexibility or even a "BRM" after your last 2 have been in place only a week before leaving or moving roles, you dont get to know about the products or the advantages of using them.
  • Casey | 10 Oct 2012, 11:44 AM Agree 0
    QBE are at the lower end of the scale any broker I speak to agree so it is a complete mystery how they win this award
  • Stuart | 10 Oct 2012, 12:08 PM Agree 0
    We do have a great BDM however, don't take the award seriously. QBE's products, systems and documentation all seem to be so outdated. We actually have little busienss with QBE as their pricing and products just don't stack up against other Insurers. If QBE are the Brokers Choice, would assume that they are the International Brokers choice, not the industry choice.
  • Gary | 10 Oct 2012, 12:09 PM Agree 0
    QBE winning the award is no surprise to me. They represent the "Big End' of town as do NIBA so it is the big boys looking after their friends. QBE has no focus on the smaller end of broking and view small brokers as being a nuisence or not relevant. We are a company that gives QBE around $1,000,000 in GWP but we are not big enough to warrant any service or interest. I agree with the others there are plenty of other Insurers who offer much better products and are flexiable and easy to deal with, but if your not a member of NIBA you just dont count.
  • Concerned | 10 Oct 2012, 12:13 PM Agree 0
    Sarah - just out of curiousity, are you the same Sarah who was first off the line to condemn BDM's in response the article "BDM's Rated Excellent"? If so, you mentioned that you always bypass your BDM and go straight to the Underwriter so your current posting somewhat contradicts that I would have thought? Again, just trying to bring balance to the argument... and no I am not a BDM, just someone who has been in this industry for 22 years and is tired of sweeping generalisations.
  • Charles | 10 Oct 2012, 12:56 PM Agree 0
    I have moved all business away from QBE due to their lack of service and claims management performance.
  • Ian Jones | 10 Oct 2012, 01:00 PM Agree 0
    We have found our GWP with QBE to have fallen by around 40% over the past 18 months. This is a direct reflection of their new found inflexibility, increased rates and diminished appetite. We even had to request a new BDM due to the inability of our old one to look after us and the gross lack of his basic insurance knowledge. Insure of the year - I don't think so.
  • Scott | 10 Oct 2012, 01:02 PM Agree 0
    NIBA's core role is to represent Brokers and support their position of impartiality and independence against all Insurers. Leading to a result of products delivered to Customers based upon best suitability, without influence of any Insurer relationship. NIBA's continual awarding to the one Insurer, questions and undermines this principal position. Negatively impacting all Member Broker's ability to market themselves as independent and non-alinged operators to the industry.
  • Mark | 10 Oct 2012, 08:53 PM Agree 0
    Our previous QBE BDM was constantly making it hard to write business with them- declining risks left and right as well as pricing themselves out of the market when they did quote. He was only interested in the big stuff and wouldnt look at any of the mickey mouse smaller risks. When he was replaced the new BDMs mantra was that he wanted all risks. Except when we send a quote slip we don't get a timely response. Underwriters not helpful with a 'take it or leave it' attitude. Insurer of the year - I don't think so. They are now at the bottom of our panel of preferred insurers.
  • john | 11 Oct 2012, 11:46 AM Agree 0
    I think QBE have cllearly been the standout insurer for 10 years. Other insurers have lifted their performance to compete and so the differential between the top 6 insurers is reducing. Whilst I'm not a great supporter of awards, NIBA ask ALL broker members to vote, so the democratic process of one vote, one count comes out on top for QBE.
  • Michael | 11 Oct 2012, 02:43 PM Agree 0
    Or is this a case of brokers consistently voting for QBE in the hope they will continue to receive Swans tickets and other hospitality gifts from the Insurer?
  • Captain Grumpy | 11 Oct 2012, 03:07 PM Agree 0
    Perhaps their top-level sponsorship of all things NIBA assists?

    Always amazed when more niche insurers are unable to even get a look-in. Should insurer of the year be about the insurer that provides the best products, the best service, the best assistance to brokers with their underwriting knowledge, access to decision-makers with true underwriting authority, ability to respond with conviction and intelligent answers, etc? If so, then how can any of the mainstream insurers win?
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