Throwback Thursday: Polaris on target and Sedgwick’s growth plans
Insurance Post’s Throwback Thursday steps back in time to February 1995 to remind you what was going on this week in insurance history when electronic point-of-sale technology began and Sedgwick’s CEO looks to the future.
23 February 1995: Polaris on target to deliver
Polaris, the personal lines electronic trading initiative, completed the first stage of its implementation programme with bosses promising it was “on target” to deliver by the end of the year.
The developers promised there would the widespread introduction of electronic point-of-sale trading by early 1996 thanks to seven insurers testing the system.
Sedgwick looks to growth in fee-based advice
Sedgwick CEO Sax Riley said he was aiming for a 50-50 split between fees and brokerage sources of revenue.
Riley said revenue from fees in the previous year accounted for 35% of the total compared to 26% in 1993.
He was also asked for his thoughts on a possible collapse of the Lloyd’s market and said it would be “a disaster for everyone in the insurance industry worldwide”.
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