How to switch brokers if you're not happy with the current one

How does the mandate differ from the policy?

Your insurance policy exists between you and the insurance company – a broker switch changes nothing about that. The broker mandate is a separate, independent legal relationship: it determines who acts on your behalf towards the insurer, who has access to your policy's data, and – depending on the insurer's practice – who receives a copy of renewal or claim-related notifications. Separating the two matters because it's exactly why many people put off switching: they worry they'd have to "take out the policy again". That isn't necessary – the policy runs on unchanged; only the person, or the firm, acting as your point of contact changes.

When is it worth thinking about switching?

A few signs that it's worth considering: your current broker is hard to reach, a review you asked for keeps not happening, you asked for help with a stalled claim and didn't get it, or you'd simply like your family's or company's insurance portfolio to run in one place, in clear order. None of these reasons need any special justification: cancelling the mandate is your right, and you don't owe your current broker an explanation for it – at most, it's worth checking the notice period stipulated in your mandate.

Here's what the process looks like

The first step is a conversation: the new broker reviews your existing policies to see what's fine as it is and where it's worth making a change – this is the basis for the decision, even before the switch happens. The second step is signing the new mandate: this is what gives the new broker the right to act on your behalf. The third step is administrative: the new broker notifies the insurer or insurers involved about the new intermediary relationship – this doesn't affect the content of your policies, only the registered point of contact. The fourth step is settling the old mandate: a short, properly worded termination notice, which in practice the new broker usually prepares, so you don't have to work out the exact wording yourself.

What happens to your data when you switch?

Many people wonder what happens to the data held by their previous broker. Data handling in every case follows that particular broker's own privacy notice – you can find out more about this from your previous broker. The new broker only has access to the data you give them, or the data they're entitled to access at the insurer on your behalf under the new mandate. So this isn't an automatic transfer of data between the two brokers – the process rests, throughout, on your consent and on the new mandate.

What should you watch for during the switch?

The most important thing is continuity. While the paperwork of the switch is underway, your policies remain valid and provide cover exactly as before – the identity of the intermediary has no effect on that. If you have several policies scattered across different places, the switch is also a good opportunity to bring everything into one hand at once, and – if you ask – have it all reviewed together to check that everything's in order.