Management strategy in UK insurance broking

Notes that the insurance broking industry is unattractive and subject to long‐term change. Cites factors contributing to this such as industry saturation, low entry barriers and low product differentiation. Notes expected responses to such conditions, including those from the large, medium‐sized and provincial or high street brokers. Suggests that the latter are likely to decrease in number, faced with the increasing efficiency of direct writers and attempts by medium‐sized brokers to enter their market to offset losses in the upper levels of the market. Notes that this pattern is reflected in other areas of financial services.