The 2024 NIBA Convention Wraps Up, Amplifying the Power of the Collective ‘One Voice’ of the Broking Profession

Attendees at broking’s flagship event left with important insights, discussions, and a renewed sense of purpose for the future.

With this year’s NIBA Convention calling on the broking profession and the insurance industry to go ‘Beyond the Status Quo’, attendees at broking’s flagship event left with important insights, discussions, and a renewed sense of purpose for the future.  

In her Closing Address, 2024 Convention Chair Di Phelan said, “The energy and enthusiasm throughout the event have been truly inspiring, as we gathered to discuss the future of our industry.”

A recurring theme throughout the Convention was the need for adaptability in an evolving landscape. Di emphasised this point, noting, “The here and now is gone tomorrow, and that is how fast we are going to have to adapt to stay ahead of the curve.” Her words served as a reminder of the speed at which change is occurring and the importance for brokers to embrace new ideas and look beyond traditional practices.

Client expectations were another focal point, with many discussions centring on the importance of understanding and exceeding client needs.

As Di remarked, “We should never lose sight of the fact that when it comes to insurance, we are the ultimate consumer advocate, the only one whose role is to act on behalf of the client, to put them before us.”

This message underlined the critical role brokers play in the marketplace and in serving their clients' interests.

The Convention was also a platform to discuss the industry's regulatory framework and strategic direction. Reflecting on the industry’s evolution, Di stated, “Our journey of self-regulation started in 1992 with the first Code of Practice and continues as we embark on the Code review next year. We all need to understand the importance of continuing to self-regulate – look around you – we are all the one voice of the insurance broking profession.”

This emphasised the power of self-regulation and the collective voice of the insurance broking community.

Throughout the Convention, there was a palpable sense of unity and shared vision for the future. Di’s call to action captured this spirit: “So next time you are asked what you do for a living, be proud to say you are an insurance broker... and remember, together we do better.” Her words encouraged brokers to take pride in their roles as trusted advisors and to continue supporting each other as they navigate the industry's challenges.

“Let’s harness this momentum and continue to support one another in our professional journeys,” Di concluded.