May brings together two of the most interesting events in my calendar year – BIBA and the Chelsea flower show.
I always get excited about BIBA as it brings together so many industry friends and colleagues, along with promising opportunities for schemes growth – my area of insurance. Being a keen gardener, I have equally high expectations for the Chelsea flower show. Crazy as it sounds, there are actually many more similarities between insurance the two events than you might think!
Successful schemes start with good ideas that are carefully researched and planned (no different to the creativity and research that goes into planting a garden). In the same way that you have to understand the conditions in your garden – soil type, drainage, location – with insurance schemes you need to know your market and understand the operating climate. This is essential in tailoring a product that will genuinely meet the requirements of the market it’s intended for, allowing the product to take root and thrive - see what I did there? Plants that are located poorly will fail to flourish, and similarly a scheme that does not appeal to its intended customers in that market will also fail.
Marketing a scheme means packaging it in a way that will speak to the customers it’s been designed for. The power of branding or in the ‘colour’ palette, are equally important details for schemes and gardens, with success often determined by the finer details and a clear understanding of outputs.
But once you’ve designed and launched your scheme (or planned and planted your garden) it doesn’t end there. It needs to be regularly reviewed, adapted and evolved to ensure the maximum benefit and value is derived for customers, the broker and insurer - (the equivalent of weeding, moving plants, pruning and in the case of the garden). The scheme needs to be nurtured and cared for on an ongoing basis, with dialogue between insurer and broker to make sure objectives are being met.
Fundamentally, the link between the two for me is growth - the anticipation and excitement of seeing a scheme (or garden) grow into something that bears fruit. From my 12 years working with brokers and putting together successful schemes, one thing I’ve realised is that, with careful planning, in the right conditions, with the right culture, and the right people, schemes will blossom!
So, at BIBA this year it’d be marvellous if you want to come and talk to me about your schemes, ideas (or garden!), you’ll find me on the Covéa Insurance stand C50.
Alternatively, if would like to get in touch with Nicki Crabb to discuss an insurance scheme opportunity, CLICK HERE, leave a message and youTalk-insurance will pass your enquiry on.