The Briefing
THE BRIEFING: Personal lines broking
Personal lines broking: The risks of unrated insurers, the threat of Amazon, dual pricing and insuretech
Has the insurtech conversation moved from disruption to collaboration?
Five insurance specialists give their views on whether new tech startups have gone from challenging the established businesses in the insurance industry to working with them
Deloitte: Insurtechs should be considered innovation partners, not vendors
Insurtech startups have drawn $16.5bn in investments over the past decade
Brokers less fearful of insurtechs – survey
Online comparison sites are seen as a bigger threat to UK general insurance brokers than insurtech companies, according to the results of the 2019 Digital Broker survey
Succession planning: Handing over to the next generation
Tackling the skills gap is one way of improving succession planning options for smaller brokers presently in the hands of solitary and/or ageing owners
Succession planning: More than a quarter of broker bosses lack succession plans
Survey also found most respondents would prefer to sell to another broker rather than a consolidator
Succession planning: The art of executing a clean exit
In February, Folkestone’s Independent Insurance Services was purchased by a local managing general agency. Outgoing business owner Ray Johnson offers a personal account of his exit strategy and explains why it was important to sell to a company with similar values
Cyber risk to HNW individuals is growing
Insurers move to include cyber in high net worth products as social engineering and business email compromise attacks rise
High net worth investors are turning to drink as whisky values surge
Wealthy collectors splash the cash on rare Scotch, while London’s ultra-high net worth stick to bricks and mortar
HNW cover prices under pressure from costs and exits
Rising cost of claims and high-profile exits drive up premiums as market hardens
Escape of water claims at £2.5m a day
Escape of water (EoW) claims have been a significant issue for the domestic property market over the past few years
How can high net worth brokers and insurers add more value?
Three experts voice their opinions on how to provide better service to HNW clients
How can brokers seize the opportunities within schemes?
Four insurance specialists give their views on making the most of business with schemes
‘Flat white economy’ stirs schemes brokers
With the digital economy now the UK’s largest sector, there are huge opportunities in both mainstream and niche insurance, with intellectual property and other intangibles offering room to innovate
Paying-as-you-go in the gig economy
Changing workplaces and the rise of the sole trader and gig economy has introduced new opportunities for specialist scheme providers
Does the UK have a compensation culture?
Four specialists discuss the effects of fraudulent claims and how the industry can guard against them