Australia's Elite Brokers 2013

Australia's Elite Brokers 2013
The nation's top insurance brokers are front and centre of the inaugural Insurance Business Elite Brokers ranking, a new initiative that rewards and grades the top 30 leading brokers in the Australian insurance market.

In a first for Australia, Insurance Business proudly presents the results of the Elite Brokers survey, an exciting new program that has been embraced by the broking community.

Our inaugural Elite Brokers ranking attracted entries from all corners of the country as we sought to evaluate and rank the top 30 individual insurance brokers across the nation. So exactly how was each applicant assessed?

METHODOLOGY
The Insurance Business Elite Broker ranking system is a comprehensive and independent means of ranking the best-performing insurance brokers in the country. Due to the advanced and detailed information needed, each broker was required to supply their own details to Insurance Business to be eligible.

In order to rank performance, however, we were not simply inviting applications from the most advanced and senior executives working at high-profile, well-resourced brokerages. We were also aiming to reward brokers from smaller firms and niche industries who were punching above their weight and achieving big things.

In total, there were eight measurements, covering:
  • premium income
  • revenue per client
  • industry awards and recognition
  • number and value of policies written
  • number of new clients introduced to the business during the 2012 calendar year

Entries for the inaugural Insurance Business Elite Brokers ranking, which were invited throughout February and March this year, went through an evaluation process. The final ranking was based on a number of criteria, including:
  • total revenue
  • new revenue
  • policies written
  • revenue per client
  • number of new clients
  • client retention
  • industry awards and recognition

A place in the Insurance Business Elite Brokers ranking is clear recognition of each broker’s professional standing as one of the leading brokers in the Australian insurance market.

However, in interviews with our inaugural top 30 the consistent message received was that they couldn’t have achieved such successful results without a strong network of support staff and stakeholders.

David Summers of Markey Insurance – who ranked at number 6 – says it best: “Our business has been given the opportunity to grow, thanks to the amazing support that has been provided to us behind the scenes, from our hardworking and dedicated claims and processing teams all the way through to my assistant Ruthanne, who really does make me look good.”

Meanwhile, the Insurance Business magazine and website are committed to meeting the information and business development needs of insurance brokers, and we’re thrilled to introduce you to the nation’s top 30.

4 SUCCESS STRATEGIES REVEALED

What does it take to make an Elite Broker? When interviewing our top 30 brokers, several common strategies for success became clear:

CUSTOMER SERVICE
An unwavering commitment to customer service is essential, from first point of contact with a potential client, through to follow-up after a claim has been processed.

RELATIONSHIPS
With clients, with colleagues, with insurers and with other brokers… If you want longevity and success in your brokerage career, you need to nurture your relationships across the board.

PERSONAL CONNECTIONS
It’s no longer acceptable to sit behind a desk and correspond via email. If you want to be a cut above the rest in today’s market, you need to hit the phones, visit clients in person, and make a genuine connection.

INTERNAL TEAMWORK
Every broker bar none agreed that continued success is not possible without a qualified and supportive team to back you up.