Hear from the NIBA Community at the 2024 NIBA Convention
Delegates shared their thoughts from the final day of the 2024 NIBA Convention
Delegates shared their thoughts from the final day of the 2024 NIBA Convention
Where do you see the future of insurance broking headed?
“Technology is going to play a huge role going into the future, but I'm very confident we'll strike a really good balance between still having that personal touch on looking out to clients and dealing with people.”
Richard Davies, McLardy McShane
“It'll be interesting to see how AI evolves and sorts straight through processing on the smaller end.”
Kayla Cretha, Macquarie Bank
“I think the future with insurance is like the future with everything. Layered with complexity, nowhere near as much fun as it used to be, and the electronic age is killing things. We need to get back to basics, which is people dealing with people.”
Patrick Langan, Oracle Group Insurance Brokers
“I see a growth in education with a lot more newcomers coming from outside of the industry”
Allison Parks, LMI College
“We need to get more young people into the industry, and I don't think our associations do enough in order to make contact with universities and try and get school children to take an interest in it. We should have been doing that 20 years ago. We haven't changed. So, we're shooting ourselves in the foot because we're not being proactive in doing that.”
Caryn Cramp, Arcuri & Associates
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What's your take on the current insurance landscape?
“It's challenging times. The market's difficult to pick at times, and insurer’s appetites are a little restricted. It’s a good time for underwriting agencies. They're writing a lot of business, because they've got broader appetites.”
Graham Cassidy, Steadfast Group
“I’m excited about the fact more and more people are realising the important role insurance plays, especially with some of the global events that have happened.”
Tim Wedlock, AEI Insurance Broking Group
“If you talk about what we do within the industry, it's about the camaraderie. It's the fact that we all communicate well despite being in competition with each other. But I think what we do for the community, it's the support we give our clients and the passion we put into managing our clients and making sure they get the best outcomes.”
Eric Harris, Aon
“I think there'll be a lot more consolidation. I'm not sure with the insurers whether they wish to delegate capacity to agencies. So rather than trying to get bigger, they're trying to get smaller and delegate the capacity. That's leading to better service standards across the industry rather than from the insurers, which is a bit controversial, but that is the case.”
Ewan Thompson, PSC Network Insurance Partners
“I think it's really hard to actually get young people interested in it because I think insurance is really boring. Businesses, insurance companies, brokerages, they really need to get out there and, you know, beat the drum to get into insurance because it's such an interesting industry to get in. Lots of opportunities.”
Naomi Stewart, ProRisk