View from the top: Positive and purposeful
It's always good to get an opportunity to see familiar and new faces, and the British Insurance Brokers' Association conference never lets you down. The number of brokers attending was again very strong and the networking opportunities were second to none — even if most of the discussions took place over a beer or two. The buzz was positive and purposeful and the conference hall was a hive of activity.
A number of common themes emerged during the two days. There is a growing desire to commit to the professionalism agenda. The conference focused on how the industry can be seen as the customer's trusted guide in their time of need and develop the plethora of talent that exists across the sector. It was a timely reminder that our actions are constantly under the spotlight — witness the media focus on the industry's response to the volcanic ash or the BA strikes. Encouragingly professionalism appears to have crept up the agenda of brokers and insurers, a move that will help build confidence.
There was also an interesting contrast in attitude to issues people felt they could control and the things they could not. Brokers were upbeat about their business prospects, with a focus on organic growth and successfully managing costs in a difficult trading environment.
But alongside that was a nervousness that something nasty was lurking around the corner — the impact on the industry from the new coalition government as it grapples with a huge financial deficit, the potential for another dip in the economy before year end, leading to less disposable consumer income or whether the fragility of the eurozone will spread, damaging economic confidence further.
The strongest theme to emerge was something we can control — the challenge to insurers from brokers to get the simple things right. Whether this is removing complexity from processes, doing the things you say you would, offering the service customers expect and deserve and working in partnership. All would help improve ways of doing business and critically deliver more efficiency.
There is recognition that some are delivering along those lines. But it also pinpointed opportunities in terms of product and service innovation working in genuine partnership with brokers. Overall, the view was that the conference was a resounding success and Biba should be congratulated for putting on a great event. I'm already looking forward to Manchester, to again hear about the progress the industry is making.
Barry Smith, chief executive officer, Fortis UK
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