Australian insurance brokers’ determination to innovate is revealed in new research published today by CGU.

The insurer surveyed 300 brokers for its CGU Ambition Index, with 82% saying they are “very ambitious” and want to drive the industry forward through innovation.

Some 75% say they have “far exceeded” their initial business ambitions.

The leading priorities for brokers are to increase their customer base and grow their business; ensure employees are happy; make a positive impact in their communities; and bring something innovative to the industry.

“Brokers play an important role in supporting Australian businesses and providing tailored solutions suited to their insurance needs,” IAG EM Broker and Agency Solutions Phuong Ly said.

“It’s great to see that brokers continually strive to improve the industry, because this in turn helps support the ambitions of the businesses and individuals they serve.

“It’s also good to see that brokers have ambitions not only for themselves, but also for their employees, customers and the community.”

CGU also surveyed the general population about business ambitions.

More than half of Australians have seriously thought about starting a business, but many do not act due to concerns over “tall-poppy syndrome” and a fear of failure.

More than two-thirds believe Australia has a culture of negativity towards those with ambition, and 70% do not like to talk about their ambitions or successes for fear of being labelled a “bragger”.

To see the survey results, click here.