NIBA boss calls on brokers to fix image problem

NIBA boss calls on brokers to fix image problem

NIBA boss calls on brokers to fix image problem

Insurance broking doesn’t have a negative image, according to National Insurance Brokers’ Association (NIBA) CEO Dallas Booth – rather, it too often has no image at all.

In an interview with Insurance Business TV, the NIBA chief argued that this needs to change, with brokers and the organisation raising public awareness around the role of intermediaries.

“The extent to which there are negative stereotypes or negative comments is due to a lack of knowledge and information,” Booth told Insurance Business TV. “There are very  few examples of people who have used brokers and have come off with a poor view of what they do.

“The challenge for NIBA is to break through the group of people who do not know what brokers or what they provide.”

Booth also highlighted the “vital” role social media can play in the industry but warned it is a double-edged sword.

“It can have a negative impact. It is very easy to spread a message – informed or ill-informed like wild fire. Brokers must be aware of that.”

However, social media does have its benefits, Booth said. “It is an easy way to communicate a good message and for small business like brokers, it is an easy service to market their firms.”

Hear more of Booth’s thoughts on the image of the insurance industry on Insurance Business TV.

  • Neville Cheverton 24/05/2013 12:18:24 PM
    Brokers for years have been undervaluing their own role and importance. Too many brokers are just price based and when the industry understands how important a broker's role is, then it is more likely to be accepted. If a broker gets it wrong, this could result in the end of a client's business and personal wealth. How much more valuable can you be if you get it right.
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  • David 24/05/2013 12:59:03 PM
    So what are our associations (NIBA, IBNA or Stedfast etc) going to do to change this to give us an image out there?
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  • Mark 24/05/2013 1:44:16 PM
    NIBA doesnt do enough to promote Brokers. In light of the natural disaster claims, NIBA should be out their showing / promoting / advertising what brokers did for their clients during their time of need. Further more the industry's associations as a whole, Niba, Anziif, ICA should promote the whole industry, and how much they paid to customers during the disasters, and not let the tv shows / papers blame the industry for not doing anything, and advise the community it was insurance that repaired the disaster damage not the government.
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