In the 9 years that youTalk-insurance has been going, my highly dedicated small team have worked hard to serve up over 670 free newsletters to our incredibly large and extremely loyal community of subscribers (that’s you if you are reading this).
I mention this, only because if you have enjoyed our free service, I have a ‘one time’ small favour to ask…
What’s Paul talking about now…
A call for brokers and insurers to share stories of their good deeds
It can’t have escaped anyone’s notice that in the midst of the current crisis the insurance industry has been getting its customary ‘Crisis Kicking’ in the media. It's been dissapointing to see that this includes some insurance publications too.
Matthew Moore, President and Managing Director of Liberty Specialty Markets, says it is possible for the insurance industry to create stability amid 2020’s still-volatile political climate.
2020 is going to bring some interesting challenges including:
How will the FCA try to deal with dual pricing?
How will government and the insurance industry work together to ensure that consumers and businesses are protected from increased flood risks?
As a country, how will we ensure that all blocks of flats clad in combustible material are remediated or the risks suitably mitigated?
Will we see a properly hard market with insurers pulling out of lines of business left, right and centre?
As the good ship ‘UK General Insurance’ dips slowly below the horizon of 2019 into what promises to be an exciting and challenging year ahead, I thought I would take just a few moments of your time to thank each and every visitor (that’s you if you are reading this) to the youTalk-insurance website during 2019.
Serious enquiries only - no time wasters...
With capacity expected to constrict even further next year, more and more brokers will likely be hoping that delegated authority (DA) arrangements will help them to grow their business in a very challenging marketplace. They will want to partner with solid insurers on these schemes and of course provide excellent products and services to their all-important customers.
In an exclusive blog for youTalk-insurance, Alan O'Loughlin, Director of Analytics and Statistical Modelling, International at LexisNexis Risk Solutions, talks about the missed opportunities for insurers as the new ‘data currency’ gathers pace
So, you are collecting data on your insurance customers and prospects? Brilliant. But what are you doing with it? Is it just sitting there untouched, costing you money to gather and store, without earning its keep by giving back to your business?
Back in the 1980’s I started working in this glorious world of insurance. I still love it! So much has changed and the vast majority of it for the better. I certainly don’t use as much carbon paper as I did back then and I haven’t seen a microfiche for a good few years. The talent joining our industry is awesome. But one thing that always strikes me as not having progressed as much are the presentations brokers make on behalf of clients.
The term ‘Big Data’ has been thrown about for a while, but what does it mean and how does it impact commercial insurance?
“Big Data”, in a nutshell, is the collection of structured and unstructured data and it’s implied that people using it can analyse statistics and derive facts that help make better decisions.
What does this mean for brokers and insurers?
Brexit chaos – motorways at a standstill - Labour splits – Tories split too, for good measure – urgent climate change issues – EU in financial crisis – productivity down, crime up – storms increase in intensity – terrorism – major flooding events – giant radioactive lizards roaming the home counties...
Disasters (especially fictional ones) come in all shapes and sizes, but they all have something in common: none were anticipated by the people most affected and it almost always comes as an unpleasant surprise.
