What are the headwinds facing brokers in today’s insurance market? with Steve White from BIBA
Summary: This hardening of the market is compounded by the impacts of inflation, as a result brokers are seeing diminishing access to insurers on a risk-by-risk basis. The hard market is once-in-a-generation and many people working in insurance now are in unchartered territory. In this episode with Steve White from BIBA, we discuss the various issues brokers are facing and ways in which insurers can help, from improving communication to a more consistent deliverance of service.
Quote: “I think insurance could be better at communicating a whole range of issues around service. Brokers do have a real issue now with insurer service, we've [BIBA] been hearing it through our advisory board structure for the last 12 months. A cynic could say that brokers are always been unhappy with insurance service, [but] we've never heard the volume and noise about the subject that we've been hearing over the last 12 months.”
Resources:
The British Insurance Brokers' Association
Sign up to BIBA’s Insurer Service Survey
Adrian Saunders LinkedIn profile
Run time: 14.25
About the guest:
Steve White, CEO of the British Insurance Brokers Association (BIBA), has an extensive career in the insurance industry. He previously worked at Orion Insurance Company and the Financial Services Authority, before initially joining BIBA as Head of Compliance and Training.
About the host:
Adrian Saunders, Commercial Director at Ecclesiastical is responsible for delivering Ecclesiastical’s UK intermediated business. Before joining Ecclesiastical, Adrian held senior roles at Marsh, Zurich and Hiscox. Away from insurance, Adrian is a self-confessed cycling addict. Combining his passions for charity giving and cycling, he previously raised funds for charity by completing London Ride100 three times and cycling across Vietnam and Cambodia.
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