Investment banks and Big Five accountants are well-placed to steal general insurance business from insurers, said Andy Miller, joint managing director of consultancy Impact Plus.
"It's easier for banks to extend their operations into insurer territory than vice versa. And it's the banks and accountants who have the best relations with the chief executive."
Miller added: "Only the insurance industry is selling insurance. Everyone else is selling personal financial services, or offering 'holistic' customer needs management."
He said insurers must identify what business skills they wish to perform, and which to outsource. But he ended optimistically, talking of a "digital democracy" and the potential of selling to it through technology"
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
