British Insurance Awards 2010: Be the best that you can

Anthony Gould BIA 2010

Professionalism is the key to a successful industry, Ant Gould tells the great and good at the BIA.

In his openIng address at the British Insurance Awards, held at the majestic Royal Albert hall, Ant gould, group editor-in-chief of Incisive Media's insurance division,
reflected on a tough year for the insurance industry not least because of the economy.

"The insurance industry has been hit by a double whammy of poor investment returns and competitive pricing. As one Ceo described it recently: ‘It is the hardest soft market ever," he said.

However, he admitted new challenges are coming thick and fast, "as the new coalition government, ushered in on the back of the longest and deepest recession since the 1930s, plans to dismantle the much-unloved Financial Services Authority".

Speaking of the industry's relationship with the FsA he said: "The industry has had a hate/tolerate relationship with the regulator since its inception-but dare I say you will probably miss it when it is gone.

"However, the die is cast and the one regulator will to be replaced by two-the nattily titled prudential Regulatory Authority and Consumer Protection and Markets Authority."

Mr Gould asked if it would be business as usual but in different buildings, or if the change heralds a new era of prescriptive and heavyhanded regulation? "The message to the government, is simple: regulation and supervision must be targeted, appropriate and address real issues. Insurance should not be lumped in with banking as it would, as has been said before, be like using a hammer to crack a nut. one size certainly does not fit all in financial services."

The signs from parliament look promising, according to Mr Gould, but he urged the industry to put its house in order if it really wants the government to listen.

"I have a challenge for you," he said. "To embrace, promote and embed professionalism-along with the competency and integrity that that implies-across your
businesses, across underwriting, broking, claims and throughout the supply chain."

He highlighted the current campaign by Incisive Media brands Post, Professional Broking, Insurance Age and Reinsurance in promoting ‘Investing in the profession' and urged the audience to do just that. It was not just the media calling for this, he added, but also the Chartered Insurance Institute, which has joined forces with a host of other professional and trade bodies to produce the Aldermanbury Declaration.

He said the declaration was a clear statement of intent "that by the end of 2013, every UK broker and insurer will exceed a minimum number of qualified staff, including a demand that ‘at least half' of relevant management teams are qualified to ACII level.

"That you will commit to a framework of common standards and an enforceable code of ethics. And, perhaps most importantly, that you will put the customer at the centre of everything you do.

"If you have not already read, understood and signed up to this declaration then I urge you to do so."

He continued: "It is not a huge ask. It is not a huge leap. It is about formalising what in many cases already exists-as tonight's finalists all demonstrate."

Mr Gould added that, having read all the entries to this year's awards he was in no doubt the industry can, and will, step up: that it will continue to meet demand; will keep innovating; and continue to deliver its promises.

"The industry has got fantastic people working within it and these awards are about recognising that talent, that initiative, that innovation-that professionalism.

"They are about spreading the news of how insurance helps businesses undertake new ventures and continue trading in adversity, and, of course, how it comes to the
rescue in the wake of a personal disaster."

He reminded the audience that the country needs this: "Millions of people depend on the insurance industry. Yes, as we in the media are quick to remind you, you do get it
wrong on occasion-but that should not detract from the overwhelmingly positive impact of the industry and the hard work and professionalism of those within it.

He concluded: "The BIA show the industry is professional in its outlook, is constantly trying to enhance and improve its offering and service - and that it is not complacent."

"So I call on you to embrace the Aldermanbury Declaration and stand up to be counted. Be proud of your industry and enjoy tonight as we celebrate all your work."

Mr Gould then welcomed Chris Dobson, the distribution and development director of Fortis Insurance, sponsor of the charity initiative, on stage to present Nick Starling from the Insurance Charities and Steve Philips from The Prince's Trust with cheques for £5000 each.

The 1800 strong audience was then entertained by the UK's queen of soul Mica Paris and Mr Gould later joined comedian Jimmy Carr to present the awards to the sounds of the BBC Big Band Orchestra, accompanied by the Royal Philharmonic Concert
Orchestra and conductor Matthew Freeman.

Watch full speech here

Are you ‘Investing in the profession'?

Click here for more on how insurers and brokers are embracing this.

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