The CII exams are only 5 weeks away. Now is the time to start planning your revision to maximise your chance for success.
Here are my ‘5’ top tips to help you find time you didn't think you had and maximising the effectiveness of that time!
The Insurance Act is a defining moment for insurers not insurance brokers.
Certainly, insurance brokers will have to make changes to the way they operate but that is some way off.
January provides us with a great opportunity for reflecting on the previous year:
A key part to this process will be our appraisal review, which is likely to include feedback. The amount and type of feedback will depend on how active you have sought this and any formal processes and systems your organisation has for seeking and collating feedback, such as, 360 degree reviews.
The related issues of the identification by some carriers of inadequate reserves, and consequent ratings downgrades (or the ongoing risk of these) have highlighted an old problem for many brokers; how, if they use as their base case a minimum rating level of ‘A-‘ (as many do) for their level of automatically accepting carrier security, should they react to a downgrade of a previously ‘A range’ carrier to the ‘BBB range’?
I recently read an article that claimed 40% of Twitter accounts are dormant and inactive. Being a curious type I thought how this might apply to UK based insurance brokers and their use of Twitter.
My quick-fire desktop assessment revealed that there are a considerable number of insurance broker Twitter accounts that are not being updated, seemingly forgotten about.
I remember sitting next to the head of a major broking house not that long ago and we were discussing how surprising it was that the Gulf of Mexico hadn’t experienced a major hurricane since 2008, which then led onto a discussion of the frequency of major claims.
The FCA’s thematic review of Price Comparison Websites (PCWs) is surely a welcome announcement. In the blurb on the FCA website, they say:
“Price comparison websites (PCWs) are a valuable tool for shopping around, but consumers may not be getting the best deal if they focus solely on price instead of the level of insurance cover.”
Tackling fraud remains a key strategic priority for the insurance industry. Customers understandably don’t want to pay for fraud through higher premiums. Which is why the MyLicence project is so important – it should make a real difference to motor insurance customers. So we hope that the industry will really get behind this initiative.
The world of IT seems to have come out of an obsession with miniaturisation and into an enthusiasm for all things big and beautiful.
At this time of the year our thoughts turn to our year end appraisals. An appraisal meeting is a great opportunity to have an in depth discussion, with your manager, about your job and your performance.
Today I am sharing with you some hints and techniques as to how to maximise the benefits of the appraisal meeting. As with so many things in life, you are likely achieve more success if you have prepared effectively.
What are your organisation's expectations of you?
You should start by reviewing the following:
