Overview
A report commissioned by WBN in partnership with MarshBerry found clear demand for broker networks that combine international reach with local market knowledge.
- 95% of respondents said local broker relationships matter in every country where they operate.
- 47%, named faster response times as the main benefit of having brokers on the ground. Another 42% pointed to knowledge of local regulation.
- The relationship also carries commercial risk. According to the report, 74% of leaders said the client account would be exposed if the international broker relationship failed to perform. One in five described that exposure as high risk.
- Executives also listed familiar problems in global programme management. 31% cited difficulty coordinating insurance and employee benefits across markets.
- Another 29% pointed to slow turnaround when global changes were needed, while 28% said headquarters lacked enough visibility or control over local placements.
The findings show a practical tension in global insurance buying. Companies want consistent programme control from headquarters, but they still rely on local brokers for regulation, placement work and claims response.
What did the WBN report find?
The report found strong demand for broker networks with global reach and local market knowledge. Companies want international coordination, but still need brokers on the ground for regulation, placement and faster response.
Why do companies value local broker relationships?
Ninety-five % of respondents said local broker relationships matter in each country where they operate. Faster response times ranked highest at 47%, followed by knowledge of local regulation at 42%.
What happens when the international broker relationship fails?
The account becomes exposed. According to the report, 74% of leaders said the client account would face risk if the international broker relationship did not work well. Twenty % described that risk as high.
What are the main problems in global insurance programmes?
The largest problem is coordinating insurance and employee benefits across markets, cited by 31% of respondents. Slow turnaround on global changes followed at 29%, while 28% pointed to poor visibility or control from headquarters over local placements.
What does the report suggest about broker network performance?
Clients expect broker networks to combine central coordination with fast local execution. Headquarters needs control, but local brokers still matter for market access, compliance and practical problem-solving.
…………
by Peter Sonner – Lead Tech Editor at Beinsure
