Inflation, natural catastrophes, cyber risk and broken supply chains have created an environment in which insurance costs are rising. So, how do we deliver the news to our customers?

If you’re a broker, and the first conversation you have with your client is about the inevitable rise in this year’s premium, you’ve already lost the battle.

“The only way to positively deliver the news about a premium increase is to communicate with your clients regularly throughout the year,” says Lisa Carter, managing director of Clear Insurance and winner of ANZIIF’s 2022 Small Broking Company of the Year award.

Carter argues that if the only communication between a broker and their client is the annual call or email at renewal time, there’s little chance of it being a constructive interaction.

“You need to communicate with your clients early and constantly, not just in the lead-up to renewal time,” she says. “Send out newsletters, forward emails with links to relevant articles, pick up the phone and talk to them. Ask what’s changing in their business.”

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