Brokers are telling me the same thing at the moment. Retention has been harder this year, and many are working twice as hard to get the results they want. However, that is only half the picture. From my conversations with brokers and hiring firms, the market is slowly picking up as the economy improves.

Clients are still hiring despite the challenging market. In fact, more businesses have been recruiting than we had expected, particularly with the November election approaching. This creates a gap between how the year has felt and what is happening in recruitment. That distinction matters when insurance brokers plan for the year ahead.

Beyond Client Retention

The clearest pattern in my conversations with firms is the demand for business development. After a year focused heavily on retaining existing clients, firms are increasingly looking for people who can grow their books. This is my interpretation of what I am seeing, but the requests are frequent enough for brokers to take notice.

For individual brokers, this changes how the market views their experience. Protecting a portfolio in a soft market takes real work and deserves credit. However, the roles firms are looking to fill suggest that they also value the ability to generate new business.

Brokers who have spent most of the year focused on renewals may not have noticed this shift. Retention leaves little time to look up and assess what the market wants. Therefore, the end of the year presents a good opportunity to step back, reflect and consider what comes next.

Salary and Career Progression

Our 2026/27 Salary & Benefits Survey provides some useful context. It covers banking, financial services, insurance, risk and compliance, so the findings reflect the wider sector rather than insurance broking alone.

The survey found that 22% of respondents changed jobs in the past 12 months, while a further 34% plan to move in the year ahead. When asked what matters most in a new role, 52% selected salary and benefits, 23% selected work-life balance and 15% selected career progression.

One figure stands out. Only 3% of respondents have a structured career progression plan.

Salary leads the list, which is no surprise. However, pay may also rank first because it is easier to compare between employers. Career progression is harder to assess, particularly when nobody has clearly defined the path ahead.

As a result, the end of the year is a good time to consider what is driving your interest in a potential move. Is it genuinely about money, or have you been putting off a conversation about your future with your current employer?

Planning Your Career for the Year Ahead

There is no universal answer when deciding whether to stay or move. However, a few questions can help you separate a genuine reason for change from end-of-year restlessness.

1. Where could your current role take you?

Start by considering where your role could lead over the next two years. If you can see a clear path and like what it offers, that is a strong reason to stay. However, if the answer is vague, speak with your employer about your options.

These conversations tend to go better when you ask about your future direction rather than issue an ultimatum. Sometimes, the discussion has simply never happened because everyone has been busy.

2. Do you know your market value?

Consider whether you understand what comparable roles pay in your region and at firms of a similar size. Market data, including our own salary guide, can provide a useful starting point. However, portfolio size, experience and location can all influence remuneration, so use these figures as a benchmark rather than a fixed expectation.

3. Can you grow your book as well as retain it?

Think about whether your firm gives you opportunities to develop new business alongside your existing responsibilities. If most of your year goes towards retention while the market increasingly values growth, that deserves a conversation with your employer.

4. Do you have a clear reason for moving?

Pay, career progression and flexibility are all valid reasons to consider a new role. However, you need to understand what you want to change before deciding to leave. A clear reason makes it easier to assess whether another employer can genuinely offer what you are looking for.

5. What would you give up by leaving?

A new firm brings new colleagues, systems and expectations. You will also need time to establish yourself and prove your value. For some brokers, that challenge is part of the appeal. For others, the stability and relationships they have built are worth holding on to.

6. Making the Right Decision

Some brokers will work through these questions and decide their current role still suits them. That is a good outcome, because a supportive employer and a clear career path are strong reasons to stay. The calendar alone should not determine your next move.

Others may realise their answers are less clear than expected. Identifying that now gives you time to speak with your employer and explore your options before the new year gets underway. By February, you may already feel committed to another year without having addressed the questions that mattered in October or November.

The market appears to be picking up, and firms are looking for people who can drive growth. Therefore, insurance brokers planning for the year ahead should take the time to understand their position, assess their options and decide what they want from their careers.

Looking ahead to next year, what would make you confident you were in the right place?

Find out more about Tyler Wren’s:

Download the full 2026 BFSI Salary & Benefits Guide here: https://tylerwren.co.nz/salary-guide/

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Frequently Asked Questions:

1. What should insurance brokers consider when planning their careers for the year ahead?

Insurance brokers should consider their career progression, salary expectations, work-life balance and opportunities to develop new business. Reviewing these areas can help brokers decide whether their current role supports their long-term goals or whether it is time to explore other opportunities.

2. Is the insurance broking job market improving in New Zealand?

The New Zealand insurance broking market is showing signs of increased hiring activity, with some firms looking to strengthen their business development capabilities. While market conditions remain challenging for some brokers, recruitment activity suggests that businesses are positioning themselves for growth.

3. Why are insurance firms looking for business development brokers?

Following a challenging period focused on client retention, some insurance firms are placing greater emphasis on new business generation. Business development brokers can help firms grow their portfolios, attract new clients and create additional revenue opportunities.

4. When should an insurance broker consider changing jobs?

An insurance broker may want to consider changing jobs if their current role offers limited career progression, their salary no longer reflects their responsibilities, or they lack opportunities to develop their skills and grow their portfolio. Before making a move, brokers should discuss their goals with their current employer and understand what comparable roles offer.

5. What factors matter most when insurance brokers consider a new role?

Salary and benefits are important considerations, but career progression, work-life balance, flexibility and opportunities to develop new business can also influence a decision. Brokers should assess the full employment package and consider whether a prospective employer can support their longer-term career goals.

6. How can insurance brokers assess their market salary expectations?

Insurance brokers can assess their salary expectations by reviewing current salary guides, speaking with specialist insurance recruiters and comparing similar roles within their region. Experience, portfolio size, client relationships, technical expertise and business development performance can all influence remuneration.

7. How can insurance brokers prepare for career conversations with their employer?

Insurance brokers should identify their longer-term goals, understand their current market value and consider what they want from their next stage of development. They can then discuss career progression, remuneration and opportunities to grow their portfolio with their employer. Having these conversations before making a decision can help clarify whether their current role remains the right fit.

Insurance Brokers Planning for the Year Ahead