Gilchrist Standard is a ratings agency that allows insurance brokers to benchmark themselves against peers and an industry 'ideal'. It helps them better understand the suitability of their operation and to quickly identify and mitigate potential risks.
Benchmark against your peers
How good is your firm, really? How does it compare to other firms throughout the UK?
These are questions which will stir the curiosity of most broker principals, many of whom are striving to meet regulatory requirements, streamline operations, attract the attention of leading insurers and grow their business.
Gilchrist Standard enables brokers to rate themselves across eighteen business critical factors via an online assessment process. The broker’s responses are analysed against a proprietary algorithm and a rating is issued to the firm.
Following the rating process, the broker can log into their Gilchrist Standard account and receive an action plan detailing the key areas of improvement they should consider if they wish to mitigate risks and improve their rating.
The broker can also access the ‘Section Scores’ area of their account, which provides a graphical representation of the firm’s score relative to peers. The Section Score function allows brokers to better understand their performance and identify areas of potential improvement.
So, if you would like to benchmark yourself against your peers, then undertake the Gilchrist Standard rating process today. The assessment takes around an hour to complete and may well help your firm identify areas of improvement which both drive commercial growth and mitigate potential disruption.