Looking back – Australia's top insurance brokers for 2023

Looking back – Australia’s top insurance brokers for 2023 | Insurance Business Australia

Insurance News

Looking back – Australia’s top insurance brokers for 2023

Expert identified criteria that set top-performing brokers apart

Insurance News

By
Roxanne Libatique

As professionals in the Australian insurance industry return to work this year, Insurance Business Australia takes a retrospective glance at the standout performers in the insurance brokerage realm throughout the preceding year.

In 2023, Australia’s top insurance brokers earned recognition for their client-focused approach. Criteria such as personalised service, understanding coverage needs, ensuring value for money, and proactive recommendations contributed to their rankings.

Methodology

Last year, Insurance Business conducted an extensive search to identify the leading insurance brokers in Australia who prioritise their clients’ interests. This endeavour showcased exceptional instances of passion, dedication, and commitment within the diverse landscape of insurance professionals.

From July 10 to Aug. 8, the IB team initiated a meticulous marketing and survey process, leveraging its extensive network to engage with readers across the country. Readers were tasked with nominating and rating brokers based on six key criteria.

The top insurance brokers were determined by those who received the most votes, achieving an average score of 8 or higher. Their recognition is not solely based on revenue but on the quality of service delivered to clients.

Expert insights

As part of the editorial process, IB researchers interviewed a subject matter expert – Angat Sandhu, a partner at McKinsey & Company in Sydney – for an independent analysis of the report and its findings.

In the interview with the IB team, Sandhu highlighted what he believes defines a top broker.

“Customer feedback is the ultimate acid test of a broker’s performance,” he said. “A broker’s ability to ensure their customers are protected with the right cover at the right price is paramount, as is the service and peace of mind they provide during claim time.”

Sandhu identified specific criteria that set top-performing brokers apart, including recognising the affordability of cover, identifying adequacy of coverage for emerging risks, and displaying proactive measures during the claims process.