Direct Commercial broker barometer finds broker confidence grows as capacity concerns reduce
The latest findings from the Direct Commercial Limited (DCL) Broker Barometer¹ highlight the increased resilience and growth of the commercial motor insurance sector, with 83% of brokers reporting growth in business over the past year, up from 75% at Q3 2023, and 93% of brokers expect further growth over the coming year.
The growth in commercial motor business persists despite the challenges faced by all brokers in the sector, not least claims and a growth in market risks.
Even amidst reports of capacity issues in the wider motor market in the last few months, concerns over capacity have notably reduced among commercial motor brokers.
Six months ago, 83% of brokers expressed scepticism regarding the availability of specialists or insurers offering capacity for the haulage, waste disposal, and courier markets. However, the most recent Barometer indicates an improved outlook, with this figure decreasing to 76%.
Joe Hantson (pictured) of Direct Commercial Limited, said:
“We are dedicated to making consistent improvements in our work with brokers, aimed at reducing costs and enhancing efficiency. It’s gratifying to see brokers report tangible benefits from our efforts. Nevertheless, complexities continue to exist and navigating them requires expertise; we are committed to sharing our knowledge and experience with more brokers as we continue to advance on our strategic path.”
Direct Commercial Limited remains steadfast in its commitment to supporting brokers and fostering growth within the commercial motor insurance sector.
Authored by Direct Commercial
