Memories from BIBA 2018 – the key challenges.
Written by 1 June 2018
We had an outstanding BIBA Conference in Manchester last month. The event was a great opportunity to spend time talking to brokers from around the UK about the issues and challenges that they are facing, as well as the pressures facing their clients. Worries over the economy, Brexit just around the corner and the increasing demands of digital business and cyber threats were key themes.
Our biggest takeaway from our time at BIBA was the growing concern from brokers about the reducing access they have to underwriters that understand their particular markets, along with issues surrounding the sectors their clients operate in. Local relationships and the ability to speak directly to an underwriter who really adds value were very much at the top of the ‘must have’ list in the majority of our discussions.
We know that technology plays a crucial part in the insurance transaction, providing access to information as well as improving the process itself. However, it can’t replace the relationship that exists with a broker. Barbican Protect is very much set up to combine the best of both – allowing our underwriters to use technology and our analytical capabilities, as well as their own experience and knowledge to make the right decision and provide the most appropriate solution. Our team strive to provide customers with the protection they need and to support brokers looking to grow their business.
There is much speculation about future M&A activity in the market and eyes are being drawn elsewhere to the potential created by the rise of the ‘super-insurer’. We think these developments present a great opportunity for our regional brokers in particular to really look to those markets that are committed to supporting them – maybe not the largest in the market, but those with an appetite to make a difference.
We are dedicated to growing our business – investing in our underwriters and giving them the time and authority to add real benefit to brokers and their clients. 2018 will clearly be an exciting time – and our planning for BIBA 2019 will begin again in a few months!