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UK Broker Summit
The UK Broker Summit is the must-attend event for the most influential players in the insurance broking community, with only 60 invitation-only places available for top CEOs, MDs and chairmen from the UK's leading general insurance brokers.
UK Broker Summit Agenda
09:00 – 09:45
Registration
09:45 – 10:00
Group Photo
10:00 – 10:10
Editor’s Welcome
10:10 – 10:50
Opening Keynote Address: Inspiring Leadership in Changing Times
In this highly engaging and entertaining session, Professor Paul McGee will share four key ideas that are vital to ensuring we get the best out of ourselves and get the best out of others. Within the context of uncertainty and leading people in a ‘hybrid world’, Paul will cut directly to the heart of what really matters when it comes to inspiring leadership. Come prepared to laugh as well as learn.
Paul McGee is a visiting professor at the University of Chester and a Sunday Times bestselling author. He is recognised as one of Europe’s leading speakers in the areas of change, resilience, well-being and self-leadership. He has worked with over 1,000 organisations worldwide and has spoken in 41 countries. His work has been endorsed by Sir Clive Woodward and has also seen him work for one of England’s leading football teams, Manchester City as a performance coach/sports psychologist. His style has been described as inspiring, engaging and entertaining – so be prepared to laugh as well as learn.
10:50 – 11:30
The Boardroom: Why Brokers Should Care About ESG, and What Competitive Advantage Might it Give You?
This panel will explore how brokers can identify and address considerations to accelerate the transition to a more sustainable future.
- ESG Best Practice: Understanding ESG risks exposures and how this may impact your own business and your relationships with insurers and clients.
- How should brokers integrate ESG considerations into products and service offerings?
- What opportunities and challenges does the ESG movement present broking businesses?
- What role can brokers play in accelerating the growth of sustainability initiatives?
- How are insurers supporting brokers in this transition to a more sustainable future?
Siân has been writing about the insurance sector since 2014 and is currently editor of Insurance Age.
@InsuranceSian
As an executive advisory board member for ABDA, Carl is engrained in the renewable energy sector. With over 20 years’ experience in the insurance industry, he also heads up Marsh Commercial’s affinity relationships with the REA and ABDA.
11:30 – 12:00
Coffee and networking
12:00 – 13:00
Stream
Interactive Focus Group
A) Surviving the Professional Indemnity Hard Market, COVID-19 and Brokers Own E&O
This session will provide attendees with an opportunity to discuss the latest developments related to COVID-19 claims, lessons learnt during the last year and how you can improve business performance.
Discussion points include:
- Assessing COVID-19 implications for insurance brokers, including claims and cover
- Managing risks and state of the 2021 PI insurance market
- Lessons learnt and what steps can you take to grow your business
Richard has over 35 years’ insurance experience and started his career with General Accident. In 2000, Richard moved to Hiscox Insurance Company where he took on responsibility for establishing the London Branch writing professional indemnity, commercial and high value household insurances.
During 2004, Richard moved to HCC International as a Director of the Professional Indemnity Division. In 2008, he took on the role of Head of Marketing & Broker Development working with all underwriting divisions of HCC International, before joining Manchester Underwriting Management in 2010, where he is the director with responsibility for Claims and for Marketing and Broker Development.
Sachin began his insurance career at Afro-Asian Insurance Services in 2004, during which time he developed a thorough understanding of reinsurance and international broking.
In 2007, Sachin joined Royal & Sun Alliance (now RSA) as an underwriter handling a wide variety of professional and financial risks.
Sachin joined the underwriting team at Manchester Underwriting in February 2010 and now sits on the board with responsibility for the UK PI underwriting.
Stream
Interactive Focus Group
B) The Impact of Artificial Intelligence (AI) Across the Insurance Value Chain: Exploring the Next Level of Automation to Keep Service Levels High
This session will assess the bountiful benefits of AI across the industry. During this session, industry experts will delve into how the effective use of AI can help simplify the referral process, accelerate the process, deliver a better service, and help key stakeholders make faster decisions with the aid of AI. Furthermore, speakers will also highlight AI capabilities, practical applications and use cases for brokers.
Discussion points include:- Understand how the effective use of AI can accelerate key functions
- Learn how AI can help to simplify the referral process and help brokers deliver a better service
- Examine AI use cases and practical applications for brokers
- Explore the future of AI in the industry
Theo is co-founder and co-CEO of the Acturis Group. He was previously a partner at McKinsey & Company, having joined McKinsey in 1991 and becoming a partner in 1997. He led McKinsey’s general insurance practice in the UK and was a member of McKinsey’s European insurance leadership group. Theo is a Fellow of the Institute and Faculty of Actuaries.
Jeff joined Acturis in 2012 with 20 years of industry experience with Close Premium Finance where he specialised in business development and e-commerce. He has a vast experience of managing strategic business relationships and heads up the Acturis sales and marketing function as well as managing a number of key broker, insurer and partner relationships.
As insurance development director, Thomas oversees the commercial lines products team at Acturis. Since he joined Acturis in 2004, he’s been working with brokers, insurers and MGAs shaping the current e-trade market and always looking to stretch the boundaries of digital insurance trading. Today, he is heavily involved in the formation of AI solutions at Acturis, helping brokers and underwriters tackle some of the trickiest productivity problems.
Stream
Interactive Focus Group
C) With the rapid pace of change in the industry, how can brokers achieve sustainable business growth?
The pandemic and technology are changing the world of insurance forever; flexible working, a contracting talent pool, changing skill requirements and an unprecedented hike in salaries all pose challenges for today’s broker and their growth ambitions. Our discussion hopes to uncover how we can overcome these, share advice and learnings to protect the future of our industry and grow our businesses.
Discussion points include:
- The war for talent; ensuring top line growth
- With an aging workforce and a reported only 3% of millennials choosing insurance, how can we attract the right talent?
- How do we develop this talent in a remote or flexible work environment?
- With salaries up to 25% higher and counteroffers affecting up to 75% of offers, how can we control the cost of hiring?
- Technology: Automation, AI, Machine Learning and the IoT, how they all effect the industry
- The part that M&A plays in growth & exit strategies
- In a post pandemic world, what does success look like for UK brokers now?
Stream
Interactive Focus Group
D) Getting the most out of your MGA partnership
With the continued growth of established and new MGAs this session looks to raise and debate a number of key and emerging topics pertinent to the relationship between Brokers & the MGA community.
The session will seek to cover and learn from Brokers;
- What metrics are key for brokers in recognising a high quality MGA?
- What are the biggest challenges in successfully trading with MGAs as opposed to traditional capacity?
- Are Brokers consistent towards MGAs irrespective of the market rate environment?
- Is MGA growth currently fuelled by inconsistent Insurer service?
- If Insurers were to increase their MGA footprint to offset service challenges do Brokers see this as a risk or a positive move for them and their clients?
- Are MGAs leading the way on technology and consequent ‘ease to do business with’?
Stream
Interactive Focus Group
E) The Future of Premium Finance
The historic insurance premium finance model where a broker adds on commission to the net rate of the provider is unfair, broken and now regarded by the FCA as creating a conflict of interest, not in the best interests of the customer and does not represent fair value.
- Do your customers need to spread the payments of their premium?
- Do they pay any interest or charges for the premium finance?
- How do you ensure that your customer is obtaining the best premium finance deal in the market?
Ravi is the CEO of Bexhill UK, a London stock exchange listed finance company, that has operated in the premium finance market for over 20 years and has helped 100s of clients lend to their customers. Bexhill UK provides regulatory, software, operational and liquidity support to its customers. Ravi is an Oxford educated, city trained banking solicitor and former investment banker.
13:00 – 14:00
Lunch
14:00 – 15:00
Second Interactive Focus Group
15:00 – 15:30
Coffee and networking
15:30 – 16:30
Third Interactive Focus Group
16:30 – 19:15
Room check in and use of South Lodge grounds
19:15 – 19:30
Drinks reception
19:30 – 23:00
Dinner and after dinner speaker
09:00 – 10:00
Breakfast
10:00 – 10:05
Welcome from Siân Barton, Editor, Insurance Age
10:05 – 10:50
Beyond Stratford: why regulatory compliance is a strategic matter for brokers
Michael Sicsic, Managing Director of Sicsic Advisory and former Head of Supervision for the general insurance retail sector at the Financial Conduct Authority, discusses the range of broker responses to the fast-changing regulatory landscape and why market forces are becoming as important as regulatory supervision.
Discussion points include:
- How are brokers adapting to the FCA’s intervention on pricing and fair value?
- The FCA's focus on broker financial resilience
- What the Consumer Duty consultation means for brokers
- M&A in insurance broking: what can go wrong?
- What could change for Appointed Representative networks
- How the regulatory compliance system has expanded to include brokers' distribution chain
Michael Sicsic, Managing Director, Sicsic Advisory and former head of General Insurance Supervision, FCA
Michael is a senior executive in the field of risk and regulation in the financial services sector, with a strong focus on insurance. He has a deep understanding of business models in the insurance sector and the related risks.
He has founded Sicsic Advisory, the London based boutique consultancy focusing on financial services risk and regulation, in 2019. His team has a unique combination of expertise gained through direct industry experience, consulting roles and regulatory supervision leadership role in the UK insurance market.
Before setting up his own company, Michael spent 4 years at the Financial Conduct Authority (FCA) as head of supervision for the general insurance retail sector. Formerly, Michael spent five years at Aviva Plc. as Global Operational Risk Director covering Life Insurance, Asset Management and Non-Life insurance. Previously, he worked over 10 years at GE Capital in various senior risk and finance positions across commercial and corporate finance activities.
He has extensive international experience covering credit risk modelling and capital allocation, financial risk and ALM, operational risk management and quantification, conduct of business, financial crime compliance and M&A activity across multiple jurisdictions.
He is a liveryman of the Worshipful Company of Insurers.
10:50 – 11:00
Editor's Closing Comments
11:00 – 11:00