PIB Europe’s Janssen on the power of local knowledge in insurance broking

As the insurance market in Europe continues to expand and consolidate, it's becoming increasingly clear that a deep understanding of local markets and trusted local leadership isn’t just a nice to have – it’s essential, says PIB Europe’s CEO Onno Janssen.

Global brokerages that try to impose a one-size-fits-all model on markets with unique challenges and opportunities often find themselves misaligned with local clients and missing critical insights. Becoming the trusted adviser for local clients demands a deep understanding of each market’s cultural, economic and demographic specificities, and the only way to achieve that is by leveraging local knowledge and expertise.

Most international brokers approach new markets by deploying a standardised model. In my experience, the best way to gain traction in a new market isn’t by imposing rigid corporate strategies but by investing in local teams and empowering them to make decisions based on their intimate understanding of their clients and regions. By respecting and building on the knowledge of successful local entrepreneurs, we give our teams the freedom to prioritise what they do best: building relationships and delivering value.

Creating a hub-and-spoke model

One successful strategy for businesses to adopt is a "hub-and-spoke" model that allows each region to operate autonomously while benefiting from centralised resources. When acquiring a local broker, the approach should not be to dictate changes or overhaul their operations. Instead, the focus should be on investing in their growth by removing administrative burdens that can slow down day-to-day operations. This way, local brokers retain the agility and client-focused approach that made them successful in the first place, while gaining access to resources they may not have been able to afford alone.

Every region operates with its own sales culture, shaped by unique client preferences and regulatory environments. For example, in France, Paris is the central hub for business, while in Germany, brokers need a presence in multiple cities to reach national coverage. Spain, on the other hand, needs many offices due to its distinct regional variations.

By respecting these differences and tailoring the approach to each market, you create a structure that celebrates local knowledge and builds stronger, more effective client relationships.

Working together across borders

Local knowledge is crucial, but so is international collaboration. When brokers join a larger group, they benefit from shared expertise across the network. This allows smaller brokers to offer their clients more robust options and competitive pricing than they could achieve on their own. For instance, in areas like cyber risk, M&A-related risks and trade credit solutions, developing uniform product offerings across regions affords the ability to provide high-quality solutions, while local teams customise them to meet the needs of their local markets.

This collaborative model also strengthens the position of the client when negotiating with insurers. Local brokers who join a larger group, such as PIB Group, gain leverage that allows them to secure better terms and advocate effectively for their clients. Insurers have extensive resources and a keen focus on protecting their balance sheet and loss ratio, so it’s essential for brokers to have similar clout to protect clients’ interests. By combining local expertise with the power of a larger entity, brokers can be more effective advisers, ensuring that their clients get the best value and protection possible.

Nurturing entrepreneurial spirit

Something that goes hand in hand with the above is nurturing entrepreneurial spirit at all levels. The brokers we work with have built their success on their deep understanding of their markets and their clients, and our goal is to support – not disrupt – that expertise. Recognising that successful brokers are inherently entrepreneurial, and allowing them the freedom to innovate and build, will allow them to thrive. By removing obstacles and letting them focus on what they do best, you foster a network of like-minded professionals who learn from and inspire each other.

Joining a larger group shouldn’t mean sacrificing local identity; on the contrary, it should amplify it. Brokers can work with others in their network to share insights and explore new sales opportunities within their countries. This sense of community creates a supportive environment where brokers feel empowered to deliver the best client experience possible, knowing they have the backing of a larger network.

In a market as diverse and dynamic as Europe, local integration isn’t just a competitive advantage; it’s a necessity. By respecting and empowering local teams, we’re strengthening our presence in each market and setting a standard for how international brokers should operate. At PIB Group, we are committed to being the best home for entrepreneurial brokers, helping them thrive by leveraging the power of local insight backed by the resources of a large international group.

Onno Janssen is CEO for PIB Group Europe