The National Insurance Brokers Association (NIBA) in Australia has released the second in its series of sector insights, and this one deliberately views the industry through a client lens. Where Ready or Reacting? Shaping the Future of the Broking Profession examined brokers' own sense of preparedness for the decade ahead, the new report, Complexity to Clarity: The Broker Advantage, focuses on understanding what drives clients to use the services of brokers.
Produced in partnership with Insurance Advisernet (whose network covers both Australia and New Zealand) and drawing on independent research by CoreData, the report surveyed 409 Australian SME decision-makers who currently use or have recently used a general insurance broker. It is the first time the broking profession has had a systematic, client-led account of where and how brokers add value, and where trust is built or lost.
The findings are equally relevant for New Zealand brokers. The risk environment here increasingly resembles Australia's: cyber exposure, climate-related claims, economic pressure, and a continually evolving regulatory framework. The data gives the profession a useful mirror.
NIBA CEO Richard Klipin describes the research as providing clarity about why clients choose brokers, what drives trust, and where the value is most tangible.
The report structures its findings around six areas where brokers demonstrably affect client outcomes.
Strategic advice saves time.
Australian clients working with a broker reported saving an average of 20 hours across the insurance process. The largest saving was at claims time (7.2 hours), followed by finding and comparing policies (4.8 hours). At renewal, 83% of broker-assisted clients saved three hours or more. These are not trivial figures for an SME owner managing their own time. For New Zealand brokers the time argument is real, quantifiable, and is likely to resonate with business clients in a way that abstract talk about expertise may not. The research also notes that broker-assisted renewals are not simply faster; they result in more considered decisions, rather than policies rolling over unchanged.
Enhancing risk management.
94% of respondents said working with their broker led to changes in their risk management approach, whether through additional cover or other adjustments. 89% described the experience of having additional risks identified as helpful rather than unwelcome. The proportion who felt concerned it might increase costs was just 3%. For New Zealand brokers, this is relevant in a market where underinsurance has been a recurring theme, particularly following significant weather events. Clients can be more open to these conversations than brokers sometimes assume.
Building trust and confidence.
84% of current broker clients trust their broker to act in their best interests, and 88% feel confident their cover is right for their business. Perhaps more telling is what happens after the relationship ends: former broker clients retained high trust levels, suggesting the impressions brokers leave are durable.
Driving fast, frictionless claims.
The claims findings are among the most striking in the report. 95% of respondents see brokers as critical to claims resolution; 98% had their claims successfully resolved; and among those whose claim was handled with broker involvement, 91% believed that involvement produced a better outcome. Four in five claims were resolved within a month. For New Zealand brokers operating in areas affected by recent weather events, none of this will come as a surprise. Claims advocacy is often where the value of a broker relationship is most directly felt. Being able to point to locally sourced data of this nature could be a valuable opportunity for the profession.
Delivering client satisfaction.
87% of current broker clients rate their overall satisfaction at 8 out of 10 or higher, and the same figure applies to satisfaction with broker support during claims specifically. Former broker clients also scored their experience positively, with more than 70% rating it in the top band. The consistent thread in client comments is that brokers handle complexity on their behalf, lifting the administrative and navigational burden of insurance.
Improving client outcomes.
67% of respondents said they originally engaged a broker because their business was growing and their insurance needs had become more complex. A further 43% pointed to a claims experience or dispute as the trigger. Both findings carry implications for how New Zealand brokers think about the timing of client acquisition. Complexity and adverse experience are the two most common conversion points, which suggests the profession's best opportunities lie in being present at those moments, not just at renewal.
What the research suggests for New Zealand practice
A few themes emerge from the findings that are worth New Zealand brokers reflecting on.
The first is visibility of value. Much of what brokers do well (identifying risks, navigating claims, managing paperwork, liaising with insurers) is invisible to clients unless it is made explicit. The research provides credible, third-party evidence of outcomes that can inform client conversations and build trust.
The second is the claims relationship. The data on perceptions of claims outcomes is consistent and compelling. Clients believe that broker involvement gets faster results and a better outcome. The research found that over nine in ten businesses (91%) believe their broker’s involvement helped achieve a better outcome for their claim. It’s clear that claims time is a key moment in the client lifecycle to build trust. A key opportunity for New Zealand broking firms is to ensure their claims processes are designed around communication and advocacy, not just administration.
The third is the long-term relationship dynamic.
The research shows that broker relationships deepen over time, with multi-year partnerships producing better risk management outcomes and greater time savings at renewal. Retention deserves the same strategic attention as growth. A client who has been with a broker for a decade is not simply less likely to leave; they are likely being better served. Stickier clients aren’t apathetic, they’re savvy.
The fourth is proactive risk conversations. Clients respond well to brokers who identify risks they had not considered - only 3% found it unwelcome. New Zealand brokers operating in a market with real and evolving exposures (climate, cyber, regulatory) have both the opportunity and the professional obligation to lead those conversations rather than wait to be asked.
Looking ahead
The NIBA report also asks Australian clients about their expectations through to 2035. 83% anticipate greater use of technology and automation in insurance; 82% expect emerging risks to affect their business; and 79% believe they will need more strategic advice from brokers in the years ahead. The proportion who feel prepared for these shifts (82%) is higher than broker self-assessments in the first report (65%), where preparedness trailed expectations by a wider margin.
That gap is worth noting. It seems clients are more confident in the broking profession's future relevance than brokers themselves are. Whether that reflects genuine client trust or an incomplete appreciation of the changes ahead is an open question, but it reinforces the case for brokers continuing to invest in capability, not just relationships.
Complexity to Clarity: The Broker Advantage provides solid, client-sourced evidence that the work brokers do creates real outcomes: time saved, risks identified, claims resolved and confidence built. In the ongoing quest to make the case for the value of insurance advice, the findings are worth careful consideration in the New Zealand context.
Our thanks to NIBA for sharing the content of its Complexity to Clarity: The Broker Advantage report. The full report is available at niba.com.au/complexity-to-clarity.
