We all know that the insurance industry runs on the quality of its relationships and there is no better place to see this in action than a BIBA conference.
I think this is my 15th BIBA and every one of them has been a positive combination of serious business conversations with broker partners, as well as great fun renewing old relationships and making new ones.
The theme at this year’s conference is innovate, evolve and thrive and these are exactly the right things to be focusing on for the long-term future of our industry. Every insurer and every broker at the conference will have these themes at the front of their minds. Ignoring them will mean falling behind your competitors which could ultimately lead to commercial extinction.
It will be customers who decide all of our fates which is another reason why the industry must step up to the plate and perform to their expectations. Speed and reliability are now the ticket to the game.The true prize awaits those who can harness the options that technology provides to reinvent the business models and simplify the customer experience.
In this context, there is much for us all to do but I firmly believe that brokers working in partnership with insurers that have the digital capabilities, scale, and technical expertise will thrive in this environment.
Ultimately we should not lose sight of the fact that society also needs insurance to enable it to innovate, evolve and thrive. There is no room for complacency but plenty of opportunity.
Have a great BIBA 2018!