Ahead of the deadline for entries to the 2014 Insurance Times Awards, we speak to past winners about their award, their top tips for success and challenges and changes in the industry
Allianz Insurance general manager Simon McGinn told Insurance Times what it meant to win the 2013 Commercial Lines Insurer of the Year award.
IT: Why do you think brokers voted you the best commercial lines insurer?
SM: We were thrilled to win Commercial Lines Insurer of the Year. I would like to think that we were recognised for our consistent delivery of profit and growth in varying and challenging market conditions. The fact that the award was chosen by brokers also meant a lot to us, as I think this reflects the hard work done by our commercial team to deliver a great service over a number of years.
IT: Since you won the award, what has been the biggest change to the insurance industry?
SM: Last year the industry faced major regulatory changes and I think we are still seeing the impact of reforms, such as Laspo [the Legal Aid, Sentencing and Punishment of Offenders Act 2012], come to fruition. There will undoubtedly be benefits for our customers, but it’s important to keep an eye on new and emerging trends as they mature and drive further changes in the industry.
IT: What is the biggest issue facing commercial lines insurers in the next 12 months?
SM: The evolving regulatory environment will continue to be a key issue. In particular, I expect the government’s Insurance Contract Bill to be an exciting development this year, because it provides the opportunity for those who already demonstrate best practice to differentiate themselves. We are looking forward to seeing a set of reforms that provide clear benefits to the customer.
IT: Do you have any comments on new developments within Allianz in the year ahead?
SM: We have set ourselves an ambitious goal of becoming the number one commercial insurer in terms of profit and growth and we are making good progress with this. We have already launched new tailored propositions to the commercial mid-corporate market and significantly dialled-up our trading activity, and brokers can expect to see more of this in the year ahead.
IT: Where does the IT Awards trophy live?
SM: It is proudly displayed at our head office, alongside the other Insurance Times awards that we have collected over the years!
IT: Top tip for people entering this year’s awards?
SM: Enjoy it – it’s a great opportunity to focus your team on their achievements.
To enter this year’s Insurance Times Awards or book a table, please click here.
Below, McGinn speaks to Insurance Times news editor Elinor Zuke after accepting the Insurance Times Award.