The internet is enjoying its time in The Sun
Newspapers are old news.
The revelation two weeks ago that the circulation of the nation’s most popular read, The Sun, had dipped below the three million barrier for the first time in more than 30 years was met with jubilation by bloggers, with one describing it as the “media equivalent of a Thames Barrier breach”.
One option for The Sun could be to delve into our beloved insurance market, particularly manic of late, and characterised by deals that either did not conclude, or are yet to be concluded.
This flurry of activity was mirrored online with an explosive reaction to the news that THB had cancelled its purchase of PWS, for reasons that turned out to be a little more complex than initial statements suggested.
Evidently the online audience was flummoxed, flocking in their droves to the website to view the story, which unfolded in three instalments.
The original proved to be the third most popular breaking news item of the year so far. Second on that list was Erinaceous’ announcement that it may sell its insurance division. About as surprising as a hard market following a soft one, perhaps, but intriguing nonetheless.
Somewhat lost in the news shuffle last week was the latest evidence of progress in electronic trading reform, with Aon’s announcement that it had upped its 1 January placement of treaty reinsurance renewals via electronic trading platform, RI3K, to around 80% of its London book.
“Somewhat last in the news shuffle last week was the latest evidence of progress in electronic reform.
With less than ten weeks to go before the infamous white van – packed to the proverbial gills with paperwork – leaves Lloyd’s for the last time, this is a promising sign. The news that Aon will extend its electronic efforts in the regions and to its specialty business is even better.
Never one to be outdone, Towergate bolstered its online arsenal last week with the acquisition of internet-based agency, Insurance 4 Car Hire.
Meanwhile, ABC has added its private car product to Open GI and Oxygen has acquired the specialist technology and new media professional indemnity business from Digital Risk Solutions. Phew.
By this time next week, I might even be able to explain what that all means. On a less technical note, following the inaugural Backchat email alert, I was startled to discover not only how many of you took the time to have a peek, but rather how many of you were still at the office at five o’clock on a Friday.
And I thought brokers were supposed to spend their afternoons in local watering holes, waxing lyrical about the good old days when they didn’t have to conduct their business at the click of a mouse.
My my, how things are changing. Come on, people – you have a reputation to uphold!
My Favourites - Reuben Aitchison
I log more time on here than anywhere else (except www.instimes.co.uk)
I love this industry, but it does lend itself to a damn good laugh now and then
wisely blocked in the Aon office, but a hoot outside of it. Some of the most amusing and confounding games on the planet
Useful for us PR-bods and a good reminder on a rubbish day that it could be worse
Retail therapy at its best!
Reuben Aitchison is head of PR at Aon