In a lecture in Lloyd’s old library, Allianz board member and Acord chair Clem Booth imparted his wisdom on the five greatest challenges to the insurance market.

Unfortunately for the predominantly English crowd, the South African decided that the best way to keep everyone interested in cycle management, climate change and efficiency was to intersperse it with – you guessed it – pictures of South Africa lifting the rugby world cup.

But that was not all.

When one broker cautiously lifted his arm during the Q&A after and asked, ‘what do you think brokers need to do to improve efficiency?”, Booth shot back, deadpan and without hesitation: “Give us back our two and a half per cent [commission].”