AIRMIC and service provider Advisen are to provide programme benchmarking to UK buyers of insurance
AIRMIC and service provider Advisen are to provide programme benchmarking to UK buyers of insurance. The AIRMIC benchmark survey will be the only one of its kind in the UK. It will collect data directly from risk managers, providing accurate tracking of buying trends for all major coverage lines across a wide array of commercial insurance buyers.
The survey results will provide AIRMIC members and other subscribers with benchmarking charts using relevant peer group comparisons. They will answer questions such as ‘How much coverage do my peers buy?’ and ‘Am I paying too much for my insurance?’
The project builds on the success of a similar survey in the US produced by Advisen for the Risk & Insurance Management Society (RIMS) for the past six years.
Survey results will be provided both in the aggregate, to track the overall market, and for particular sectors in the UK. All results will be anonymous, so that the buying pattern of a group of like companies is provided, but the programme details of individual members are protected.