Brokers Ireland IT Survey Report

Brokers Ireland conducted an IT Survey of members in late 2020. The function of this IT Survey was to get a greater understanding of what software members are using and how many members avail of the free quotes and free data services available to Brokers. The survey also determined the percentage of Brokers paying for these services. Also gathered was how many Brokers use a centralised system for managing clients.

It was deemed important to conduct a survey which obtains key data which will be helpful in understanding where the provision of technology can be improved for the Broker market. The majority of the Broker market, 83% of survey respondents pay for a system to access policy information. The majority of the Broker market also pay to access protection quotes for their clients with approximately 82% of respondents stating they pay for the access.

Brokers Ireland conducted an IT Survey of members in late 2020. The function of this IT Survey was to get a greater understanding of what software members are using and how many members avail of the free quotes and free data services available to Brokers. The survey also determined the percentage of Brokers paying for these services. Also gathered was how many Brokers use a centralised system for managing clients.

It was deemed important to conduct a survey which obtains key data which will be helpful in understanding where the provision of technology can be improved for the Broker market. The majority of the Broker market, 83% of survey respondents pay for a system to access policy information. The majority of the Broker market also pay to access protection quotes for their clients with approximately 82% of respondents stating they pay for the access.

According to the survey, 70% of respondents stated that they use a centralised system for managing their clients. A centralised system is essentially a system used for entering and retaining client data and managing communication and compliance.

Brokers were also asked to rate the quality of information provided through their IT provider by each of the Life offices that they have an agency with. This gives Brokers Ireland a better understanding of how Brokers perceive the quality of information provided through IT providers by each of the Life offices.

The survey contained a supplementary section that focused on Broker websites and usage of social media by Brokers. This section was included to get an understanding of how many of Brokers who were surveyed have websites, use social media platforms, have their own domain name, what social media platforms they use and why they use social media. It gives us an insight into how our members conduct business through an online presence.

This part of the survey found that 78% of Broker Ireland members who completed the survey have websites. From this 78%, only 20% of Brokers surveyed use Search engine optimisation to drive traffic to their website. Search engine optimization (SEO) meaning the process of optimizing your online content so that a search engine shows it as a top result for searches of a certain keywords. From the Brokers that use search engine optimisation, a majority of the Brokers, 66%, spend less than €250 per month on SEO.

According to the survey, approximately 84% of Brokers surveyed have their own domain e.g., joe@joebloggsbrokerages.ie and 16% use an email carrier e.g., joebloggs@gmail.com. In terms of what technology Brokers are currently using to meet and stay in touch with clients, the majority of Brokers are using phone calls, video chat and conference calls.

Almost 57% of Brokers state that they do not have a social media presence. Of the Brokers who do have a social media presence, the most used social media platforms were LinkedIn and Facebook followed by Twitter. In terms of social media usage, Brokers use Facebook the most, on a more than once a week basis but do use discussion groups more so than social media platforms on a more than once a week basis. A majority of respondents do not use social media often or on a monthly basis rather than a weekly basis.

Based on the survey results, Brokers value improving brand recognition and lead generations through social media platforms as well as client retention. 15% of new business leads come through Social media platforms on average, according to Brokers surveyed with the majority seeing social media as somewhat valuable to their Brokerage.

If you have any further queries in relation to the survey conducted or the statistics gathered within it, please contact Pierce Friel on – pierce@brokersireland.ie or call the Brokers Ireland office line on 01 661 3067.