Annual Winner in the MGA Category: Direct Commercial Limited
Direct Commercial Limited's (DCL) latest broker survey has shed light on several challenges facing the commercial motor sector, particularly in the area of broker experience. The survey, which did not provide specific results, highlights issues such as complexity in obtaining quotes, varied service quality, high complaint rates, pressure on growth areas, premium financing and cost transparency, technology integration, and data management.
Quoting Complexities and Service Variability
Brokers face recurring difficulties when trying to get accurate and timely insurance quotes for individual commercial vehicles. This is due to the differing response times, underwriting processes, and product accessibility among insurers, Managing General Agents (MGAs), and insurtech firms. The emergence of many insurtechs with varying maturity levels has further fragmented service delivery.
Insurer Complaints and Broker Growth Challenges
Some general insurers, including Admiral, Aviva, Direct Line, Axa, and RSA, have been notably among the most complained-about in relation to motor insurance in the latter half of 2024. Although not specifically stated for commercial motor, these complaints can impact broker relations and trust. Brokers are seeking growth in non-standard motor insurance segments, but they face challenges due to slow innovation cycles and limited product flexibility from traditional insurers.
Premium Financing and Cost Transparency
Although premium finance costs have trended downward, brokers continue to face challenges in navigating financing options and communicating costs clearly to clients amid regulatory scrutiny and pricing pressures.
Technology Integration and Data Management
MGAs and insurers are working to unify customer records and streamline policyholder data, but brokers still experience friction when dealing with multiple platforms and fragmented data sources. This affects quote accuracy and speed.
The Demand for Digital Tools and E-Trade Platforms
The latest DCL Broker Barometer shows that 78% of brokers see access to e-trade platforms as essential for the commercial motor insurance sector. The survey also indicates a demand for improved digital tools and platform integration.
Focus on First Notice of Loss (FNOL) Procedures
The latest DCL Broker Barometer highlights significant learnings for insurers and brokers regarding FNOL procedures in the commercial motor market. The survey reveals that 67% of brokers report that policyholders face issues with First Notice of Loss (FNOL) procedures.
While the survey did not provide specific results, these points summarize the salient challenges reported in closely related recent industry coverage. The commercial motor sector is marked by fragmented service quality, quoting inefficiencies, complaints about insurers, and challenges adapting to new technology-driven market entrants. Brokers are actively navigating these issues while seeking smoother access to commercial motor insurance products and better support from providers.
DCL, a specialist commercial motor insurer, was named 'MGA of the Year' at the 2025 British Insurance Awards, recognising exceptional growth, innovation, and a broker-first approach. The accolade underscores the need for insurers to focus on digital tools and platform integration to meet broker demands in the commercial motor sector.
Innovation is crucial for traditional insurers to offer flexible products and speed up innovation cycles in the quest for growth in non-standard motor insurance segments.
Brokers constantly encounter difficulties in finding accurate and timely insurance quotes from various insurers, MGAs, and insurtech firms due to varying response times, underwriting processes, and product accessibility.
Premium financing and cost transparency remain challenges for brokers, as they navigate financing options and communicate costs to clients while under regulatory scrutiny and competing pricing pressures.
