Insurance industry viewpoint

Brexit means Brexit but not for GDPR

11 Oct 2017

Insurers and brokers have a lot on their plate at the moment: Brexit bafflement, Ogden agony, rate reductions and new threats to their business models but everyone from the smallest high street broker to the largest multinational insurer need to know their GDPR subject matter. Failure to plan ahead means you could find the regulator banging loudly on your door followed up by a gaggle of Google search tags that you really don’t want your customers to be reading!

Posted by Darren Wray | Fifth Step
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Customer connectivity – Is the insurance sector doing enough?

13 Dec 2016

A couple of years ago an Ernst & Young survey in the UK revealed that just 7% of consumers have "complete trust" in their insurer. It was reported that UK insurance customers were found to hold more trust in the banking sector, despite the severe reputational damage it has suffered over the last seven years, than in their insurance provider.

Posted by Paul | youTalk-insurance
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London insurance market underprepared for cyber-attack

10 Mar 2016

It was fascinating to read the results of Xchanging plc’s survey at the end of last year, which revealed that only one-third of insurers in the London Market believe their firm could withstand a major cyber-attack, and almost half felt they were underprepared, according to a survey conducted by the company.

Posted by Darren Wray | Fifth Step
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Is the Insurance Broker Broken?

22 Feb 2016

Very rarely now does the customer deal with a third party

The internet started the revolution of connecting people with products and that was bought alive by the trading platforms such as eBay and Amazon which facilitate the direct relationship between consumer and seller.

Posted by Susannah Schofield |
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The changing face of minibus insurance

14 Jan 2016

20 years in minibus insurance...

1995. What a year… Amazon sold its first book, Ebay set up shop online, ‘Toy Story’ was the first computer-animated film, Robson & Jerome were topping the pop charts with ‘Unchained Melody’, and PC users were clamouring to get their hands on Windows 95.

Posted by JasonCowlishaw | QBE Europe
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Ouch - The M&A market just got hotter, again!

04 Jan 2016

It seems there is no chance that the M&A market for insurance intermediaries will slow down anytime soon.

When Marsh agreed to pay close to 15x EBITDA for Jelf it was clear that the appetite for insurance brokers remains very healthy. It's an interesting move for Marsh as they signal a dramatic move into the SME market and I fully expect Marsh to support further acquisitions into the Jelf business.

Posted by Tim Philip |
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Does anyone choose a career in insurance?

16 Oct 2015

I’m told that, apparently, no-one really chooses a career in insurance.  It’s an industry that most people just seem to fall into at different stages of their life.  My own experience would suggest that this is indeed the case.

With 20 years’ experience in marketing and managing small businesses, mainly in the IT and software arena, I’ve just found myself celebrating my first year in insurance, at business insurer QBE. 

Posted by Paul Jones | QBE Europe
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UK Ghost Brokers – Don’t even think about doing it in China

17 Feb 2015

Over the last few years the UK insurance industry has been blighted by the reputation damaging phenomenon of ghost insurance broking.

Thankfully instances of this criminal activity are far and few between. I’m sure that several successful media attention grabbing prosecutions have played a part in convincing would be ghost insurance brokers that engaging in this activity is a not a good idea.

Posted by Paul | youTalk-insurance
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