Many miles of copy have been written about the disruption that is now starting to impact the insurance industry. Techy types within the sector have even given the technological changes that we are all experiencing its own name ‘INSURTECH’. 

If you would have used this expression ten years ago you might have seen your colleagues speed dialling for the people in white coats to come and take you away, so traditional and dowdy was some of the thinking back then.

BIBA conference thrives, but social media neglected

The annual BIBA conference is behind us for another year, but I’m not ready to forget all about #BIBA18 just yet. Reason being, I work in social media. Much of my trade happens at a pace and is very immediate - digital conversations happening in ‘real time’ as they do - but when people’s attention quickly moves on, that activity remains, and can be a rich source of insight.

As many property owners and insurance professionals will agree, subsidence of a property is devastating news for the owner.

In the news recently, we learned that national treasure and iconic Queen Vic landlady, Dame Barbara Windsor is suffering from Alzheimer’s and it’s a stark reminder that anyone can fall victim to this devastating disease.

Change is flowing across the commercial insurance sector, as technology begins to create increased efficiency and a more intelligence-based approach to risk. Faced with customers who are more informed and understand in detail the risks that they face, insurers must utilise technology to work in partnership with customers to minimise business disruption.

Into 2018 and beyond

Despite the changes seen by our sector over the many years it has been in operation, one thing that has endured is the relationship between insurers and brokers. The partnership between the two has ebbed and flowed, with the advent of the direct-to-consumer model and the rise of aggregators fundamentally changing the nature of the partnership.

The new kid on the block, and something that will be discussed in detail at the upcoming BIBA conference, is insurtech, and the impact of new technology on the relationship between insurers and brokers should not be underestimated.

International General Insurance Holdings Limited (IGI), the global specialist commercial insurer and reinsurer, will continue to build out its UK broker business in order to achieve its growth ambitions.

IGI will be exhibiting at the BIBA conference for the first time this year and will be looking to raise awareness of the company’s expertise and diverse portfolio of specialty commercial insurance products to the UK broker market.

Executive Director, Duncan McClean, shares his views on non-damage terrorism insurance and looks forward to the annual BIBA conference and exhibition next week.

Terrorism - a horrific and common place feature of the modern-day world we inhabit.

Having been made in Northern Ireland myself, and by parents from either side of “the divide”, I’ve seen more than most readers here, the devastating effects that Terrorism can deliver in terms of damage to people, lives and property.

AmTrust International will once again be at BIBA in Manchester this year.

You can find us at our stand C70, with a whole host of our talented underwriters and business development managers.

The broker market is very important to us, and we would love you to come along and see what we have to offer.

We have been striving to create new and innovative products that will supports you and your clients’ needs.

The BIBA conference has been going for forty years – it was set up in 1978 – and we have been supporting it for 9 years.