Member perceptions survey

2009

2

Number of staff

Many member companies are small businesses. Nearly half of UAC member

organisations (46%) have 10 or fewer staff – 28% have 5 or fewer

staff.

The size of member organisations can vary markedly – two companies

have more than 60 staff members.

PercentagesQ. “How many staff does your company employ?”

3

Ownership of UAC members

Most UAC member companies appear to be independently owned. Only 9% of

member companies are 50% or more owned by insurers. Only 17% are 50% or

more owned by brokers.

Percentages

Q. “Do any of the following own more than 50% of your agency?”

Base size: n=46

4

Gross Premium Income

Percentages

The gross premium income of many UAC member companies is

substantial.

One third (34%) of member companies have more than $20 million of

gross premium income a year.

Q. “Which of the following best describes the Gross Written Premium (excluding statutory charges) of your agency (agency GWP only)?”

Base size: n=46

5

Awareness and Use of UAC ServicesQ “Which of the following UAC services or associated activities are you aware of?”

Q “Which of these services have you ever used?”Percentages

Awareness of UAC’s expos, e-newsletter, website, the ANZIIF Underwriting Agency of

the Year Award and annual general meeting is relatively high, while awareness of

UAC’s education programs and regulatory work could be improved markedly.

While use of many of UAC’s services is relatively high, member participation in

education programs, the ANZIIF Underwriting Agency of the Year Award and annual

general meeting could be substantially improved.

Base size: n=46

6

Perceived relevance of NIBA/UAC expos

Q. “Now we want you to rate these services. For each service, please let us know if you think it is very relevant to your organisation, quite relevant, neither relevant nor irrelevant, quite irrelevant or very irrelevant to your organisation?”

Percentages

Base size: n=46 Base size: n=35

Perceived relevance of the NIBA-UAC expos is very high among all members with

85% of respondents rating them as “very relevant” or “quite relevant”. The

perceived relevance of the expos is even higher among those who have had a stand

at an expo, with 94% of those members rating them as “very” or “quite” relevant.

7

Perceived relevance of UAC e-newsletters

Percentages

Base size: n=36

Q. “Now we want you to rate these services. For each service, please let us know if you think it is very relevant to your organisation, quite relevant, neither relevant nor irrelevant, quite irrelevant or very irrelevant to your organisation?”

Base size: n=46

About three quarters (74%) of all respondents see UAC’s e-newsletters as

relevant to their business. The percentage is even higher among those

who have read a UAC e-newsletter (84%).

8

Perceived relevance of UAC’s education programs

Percentages

Base size: n=46

Q. “Now we want you to rate these services. For each service, please let us know if you think it is very relevant to your organisation, quite relevant, neither relevant nor irrelevant, quite irrelevant or very irrelevant to your

organisation?”

Given the low awareness of the programs, it is not surprising that

half of respondents did not venture an opinion about them. However,

nearly all other respondents felt UAC’s education programs were “very”

or “quite” relevant to their companies.

9

Perceived relevance of UAC’s regulatory representation

Percentages

Base size: n=46

Q. “Now we want you to rate these services. For each service, please let us know if you think it is very relevant to your organisation, quite relevant, neither relevant nor irrelevant, quite irrelevant or very irrelevant to your

organisation?”

Despite low awareness of UAC’s regulatory representation, three quarters

(74%) of members believe it would be “very” or “quite” relevant to their

businesses. This strongly suggests awareness of this service should be

improved.

10

Perceived relevance of UAC website

Percentages

Base size: n=46

Q. “Now we want you to rate these services. For each service, please let us know if you think it is very relevant to your organisation, quite relevant, neither relevant nor irrelevant, quite irrelevant or very irrelevant to your

organisation?”

Base size: n=31

UAC’s website is judged as relevant by the vast majority of members

(85%). This sentiment is almost universal among those who have used the

website to access information (97%).

11

Perceived relevance of ANZIIF Underwriting Agency of the Year Award

Percentages

Base size: n=46

Q. “Now we want you to rate these services. For each service, please let us know if you think it is very relevant to your organisation, quite relevant, neither relevant nor irrelevant, quite irrelevant or very irrelevant to your

organisation?”

Base size: n=7

As a new initiative, only seven respondents had so far participated in

the ANZIIF Underwriting Agency of the Year award. Of those respondents,

all found the award to be “very” (71%) or “quite” (29%) relevant to

their businesses.

12

Perceived relevance of annual general meeting

Percentages

Base size: n=46

Q. “Now we want you to rate these services. For each service, please let us know if you think it is very relevant to your organisation, quite relevant, neither relevant nor irrelevant, quite irrelevant or very irrelevant to your

organisation?”

Base size: n=14

Most of those who have participated in the annual general meeting feel

it is relevant (86%).

13

Current use of “Member of Underwriting Agencies Council” tagline

Q. Do you currently use the "Member of the Underwriting Agencies Council" tagline as a part of your own company's marketing (e.g. on your email footer)?

Percentages

Base size: n=46

Only 22% of members currently use the “A member of the Underwriting

Agencies Council” tagline as a part of their marketing.

14

Would consider using tagline as part of marketing?

Q. Would you consider using the "Member of the Underwriting Agencies Council" tagline as a part of your company's marketing?

Base: n=33

Two thirds (66%) of those not using the tagline in their marketing

currently, will consider using it in future now that they are aware

of it.

Those who feel they will not be using the tagline in marketing in

future tend to feel it is not relevant to their audience.

Percentages

15

Response to potential members’ forums before expos

Q.” UAC is considering ways members and the board can better communicate. One idea being considered is a members' forum before an expo. If you were exhibiting at an expos, would you be interested in participating in such a forum?”

Percentages

Base size: n=46

Interest in a members’ forum before expos is high at 61%. Only 11%

indicated they would not be interested in this forum.

Only one respondent who did not support the idea of a members’ forum stated why – because they do not

attend the expos.

16

Reasons for supporting members’ forum at expos

Of those members who support a forum before the expos, reasons revolve

around improved communication.

o “This will provide immediate feedback to the UAC executive about member’s concerns.”

o “There is not much communication between members currently”

o “More effective expos”

o “We have little contact with other underwriting agencies”

o “Exchange of ideas”

o “Better way to interface & receive updates”

o “Marketing”

o “To maximise expossure”

o “Definitely, open the communication channels for the benefit of all members”

o “Networking opportunity with other members”

o “Interchange of ideas and comments”

o “More say in what's happening”

17

Additional services members would like to see UAC provide

Six respondents had suggestions for additional membership services they would like to see:

o “ID to show which UAC members are:

• Purely an underwriting agency with absolutely NO relationship or an association with a retail broking operation

• All other underwriting agencies which have a relationship or an association with a retail broking operation. This

includes but is not limited to agency staff/shareholders having a financial interest in a retail broking”.

o “Regulatory news letters or news flashes”

o “Regulatory Representation. There are issues in Victoria with FSL being levied on fees and the same issue with Stamp

Duty on fees. This will affect all UW agencies writing business in Victoria when they get audited - which they will. The

issue requires representation.”

o “UAC has an appointed broker. There is a PI scheme in place for members. That broker has a captive market but are

not utilising it. There should be schemes for members cars, offices, homes, corporate travel along the lines to which

Steadfast does for its members.”

o “Separate submission email to UAC board”

o “Ability for brokers to obtain technical details of members products to enable them to understand more clearly if the

product meets their client's requirements.”

Q. “Are there any other membership services you would like to see UAC provide or feel UAC should offer?”

18

Suggestions for providing better value to members

Eight members had suggestions for how UAC could provide better value for members. They are:

o Value added services for members:

• “Consider providing more value-add services to UAC similar to what Steadfast currently has available to its

members - discounted travel arrangements, discounted services providers, motor fleet pricing, etc.”

• “….schemes for members cars, offices, homes, corporate travel along the lines to which Steadfast does for its

members”

o Expos:

• “Taking more control of the organisation of expos”.

• “Give regional expos another go as UAC, not NIBA.”

Q. Do you have any suggestions for how UAC could provide even better value to members?

19

Suggestions for providing better value to members, continued

o Use of website, email and database

• “It be [sic] good if you can pre populate company related data - Name, Address, ABN etc - in the renewal form.

This would avoid the need to re type information already in the UAC database”

• “Would like to see brokers request for assistance on the website be emailed to the contact at each underwriting

agency, so they can be addressed quickly.”

• “Separate submission email to UAC board”

• “Far more interactive use of the website to assist brokers , and members, to obtain accurate and timely

information.”

o “Better marketing of education services.”

Q. Do you have any suggestions for how UAC could provide even better value to members?

20

Member satisfaction appears high

While many UAC members are small and independent businesses, a large

proportion have offices in more than one state. In addition, many member

companies earn a substantial amount of gross premium income with more

than one third of UAC companies grossing more than $20 million a year.

Satisfaction with UAC’s member services appears high

overall. In particular, awareness and use of UAC’s expos, e-newsletters and website is high, as is the perceived relevance and value

of these initiatives, which in turn is likely to drive satisfaction among

members.

However awareness of some services warrants improvement.

o Many member organisations feel UAC’s regulatory representation would be relevant

and valuable to their businesses – yet awareness of this service is less than half

of members.

o Similarly many members believe UAC’s education programs would be relevant and

valuable to their businesses – yet only one third of members are currently aware

of this service and less than 5% have used it.

20

21

UAC positively regarded overall

As a reasonably new initiative, the ANZIIF Agency of the Year Award is

seen as less relevant and valuable than other services offered by UAC

in the eyes of many members, although those who have participated in

these awards judge them as relevant and valuable, suggesting that

satisfaction levels for this initiative will improve over time.

Currently most members are not using “Member of the Underwriting

Agencies Council” as part of their own marketing, but the main reason

seems to be a lack of awareness overall. Indeed, once many members

became aware of this possibility, there was a willingness to use it.

All the findings indicate UAC is positively regarded by

members overall and its services are seen as useful and

worthwhile.

22

Communication is the greatest opportunity

There is a suggestion however, that there are opportunities to

improve communications with members and, in particular, improve

members’ awareness and utility of specific member

services.

Many members welcome the idea of a members’ forum before expos

primarily because it provides an opportunity to improve communication

– not only with the board but with other members.

Other suggestions for improvements which derived from more than one

member included:

o Finding new ways to add value to services for members

o Taking greater control of expos from NIBA

o Better use of website, email and database information to improve

communication flow to members.

Research analysis conducted by