Category Archives: Insight

Parties at work…

A recent poll of Insurance workers was undertaken to understand why: 1. they attended social gatherings at work; or2. took part in corporate entertaining The results make for interesting reading….. • A huge 74% advised they did so, adding they were representing their company, department, team, and themselves. Further, when asked why, their response was[READ MORE…]

Technology and Insurance

Who controls who? The 4 key requirements that we require from technology when we sell a policy (the promise) are: 1. Cost efficient (to be more costs effective than an alternative i.e. resource)2. Increased productivity 3. Improved controls, reducing risk and ensuring consistency4. capability to fully utilise external factors i.e. data for pricing and behavioural decision[READ MORE…]

Professional Qualifications – Who needs them?

In the Insurance Industry we do have a professional body with accredited Insurance qualifications, and we even have specific Insurance BA honour degrees available. Many reading this may not currently hold professional qualifications in insurance, in fact almost 80% won’t hold any formal Insurance qualification. Presently, the regulator with its senior managers regime is happy[READ MORE…]

Pricing Reforms – what is happening ?

Following the introduction of the FCA new fair pricing regime on 1st January, we have recently undertaken a survey to understand what’s happening.  The results make interesting reading. When asked what changes have been seen: * 9% Had seen a reduction in Renewal Premiums* 51% Had seen an increase in New Business Premiums* 40% Had seen no change.[READ MORE…]

How To Grow An Insurance Business

There are three ways to grow an Insurance Business: – 1.   Organic growth Being better at what you already do, Marketing to new potential clients and keeping more of your existing clients. Basically, doing it better and scaling up. 2.   Opportunity Growth Find new niches, exploit opportunities with existing clients, develop and launch new products, find and develop[READ MORE…]