The Great Debate is a Convention Highlight
The highly-anticipated 'The Great Debate' session returned, ensuring the Convention ended on an emphatic note
One of the standout moments at this year’s NIBA Convention was 'The Great Debate', featuring the motion: “Insurance brokers must transition to a digital-first model to survive in the next five years.”
This session was the highlight of the Convention, bringing together industry leaders who presented compelling arguments both for and against the motion, sparking significant interest and lively discussions among the attendees.
The affirmative team argued strongly for a digital-first approach, emphasising the necessity of embracing technology to stay relevant and meet modern client demands.
Craig Stanley, from CHU Underwriting Agencies, highlighted that clients increasingly expect convenience, speed, and personalisation, stating, “If clients can track their pizza, they’ll expect to track their insurance policy just as easily.”
The team contended that adopting digital tools would not only streamline processes but is essential for brokers to remain competitive against nimble InsurTech firms that excel in offering digital solutions.
In contrast, the negative team made the case for a balanced approach, stressing the importance of maintaining the human connection that has long been at the heart of insurance broking.
Scott Gangell from CGU challenged the idea of a purely digital shift, quipping, “You wouldn’t buy a parachute from a website with a two-star rating—trust and personal relationships matter.” Wendy Foweraker from CBN added, “Clients want choice—sometimes they need an app, but other times, they need a human who won’t say, ‘I don’t understand that.’”
Their stance emphasised that while digital tools can enhance service, the heart of broking lies in empathy and personal touch, especially during times of crisis when clients need support.
The debate drew enthusiastic participation from the audience, who weighed the pros and cons of each side. The room buzzed with energy as attendees discussed the future of the industry and cast their votes. It was clear that the topic struck a chord, highlighting the challenges and opportunities facing brokers in an increasingly digital world.
In the end, the negative team won over the audience, advocating for a hybrid approach that integrates digital innovation with the personal touch that defines the broking profession. The victory underscored a key takeaway from the debate: while embracing technology is crucial, it should enhance rather than replace the core value of human connection in insurance broking, ensuring that clients receive the best of both worlds.