Getting bored with the usual methods of measuring business volumes? Does the concept of GWP seem too outdated? Well, Alex Letts, chief executive of reinsurance hub provider RI3K, has dreamed up a new unit of measurement - the ubiquitous white van.
His idea is to calculate the amount of paper saved using the RI3K system and then work out how many white transit vans that paper would fill. "You could picture a stream of vans passing from brokers' offices to the reinsurers and insurers," said Letts.
A nice idea, but do we really need any more white vans clogging up the roads?
