Large companies in Europe and the U.S. are indicating increased interest in dealing more directly with insurance carriers, a move which could affect the nature of broker relationships, according to new research from Greenwich Associates.
Greenwich Associates, a Stamford, Conn.-based international consulting firm in institutional financial services, said almost half of large European companies and more than a quarter of large U.S. companies are considering such action.
The firm said businesses in the United States plan to deal more directly with carriers to improve access, gain greater control of the purchasing process and reduce costs. In Europe, businesses planning to go direct to carriers cite the desire for improved service and responsiveness as the primary reason, followed by potential cost savings and control and access.
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