New Zealand brokers have voted IAG-owned NZI as their most valued insurer for 2013, followed closely by Vero.

More than 885 brokers and staff voted in the Insurance Brokers Association of New Zealand’s (IBANZ) 2013 Broker Survey last month.

The brokers have identified affordability as the most pressing issue for the industry, while products, services and business support are their top areas of concern.

Image and reputation, followed by prices and commissions, are their next most important concerns.

IBANZ CEO Gary Young says the top concerns are probably a response to the vast amount of change the industry has faced following the Canterbury earthquakes and the extra requirements insurers have put on brokers.

“There has been a lot of pressure in the last year with all the changes insurers are pushing through, plus all the information they need and changed wordings,” he told insuranceNEWS.com.au.

Brokers said insurers collectively are performing poorly in managing longer-term relationships but rate companies well for pricing and willingness to negotiate.

In rating insurers, NZI and Vero are seen to be similar, with superior service, while NZI is noted for community support and Vero for being adaptable and flexible.

Lumley is also strongly recognised for being a generalist, while QBE is seen to be more innovative and an expert in its field.