Insurance People May14 eEdition

insurancepeople issue 43 May 2014

ce nsuran I e h T “ ith zine w a g a M ality�

Person

Tony Smith See page 5 Insurance People inside include:

Reg Brown Simon Burley Lindsay Campbell Nick Giddings Tony Tarquini Grant Scott Phil Sharpe Rob Smale David Sweeney Stefan Thomas

surance “The In with ne Magazi ity” Personal

in association with

insurancepeople

leader

www.insurancepeople.uk.com

“For the want of a ha’p’orth of tar”

G

Editor and Publisher

Consultant Editor

Andrew Newman

Brian Susman

iven the recent weather-related claims surge, the insurance industry deserves to pat itself on the back for its handling of the majority of claims. Several localised surveys by IP’s reporters detected a groundswell of consumer goodwill.

Of course there were a few grumbles, most of which could be ascribed to a lack of the proverbial ‘ha’p’orth of tar’. Some providers just needed to go that extra inch to complete a “very satisfied” transaction.

Commercial Director

Production Director

Jeni Hall

Adrian Susman

Editorial

Andrew Newman FCII, Dip.M andrewnewman@talk21.com 01892 730539 Design & Production

Adrian Susman adrian@insurancepeople.uk.com 07981 993974

May 2014

In this issue 2

Late news

3

Market talk

8

Interview Lindsay Campbell, BIBA Conference Chief

●

There’s an example of that lack of the “extra inch” cited this month on page 12 involving a ‘small print’ declinature on a product liability cover. It turned out the £100k claim was covered, but by another insurer, whose policyholder was negligent.

The claim was resolved thanks to third party intervention, but one wonders why the original insurer risked an adverse response for nitpicking when all it had to do was add its ha’p’orth by steering their policyholder in the right direction.

10

Reg Brown’s Postcard Emporium ‘Ren’ Keat remembered

11

Customer focus Phil Sharpe, ACE Group

12 Commercial Director

Liability claims Simon Burley, Lorega

Jeni Hall jeni@insurancepeople.uk.com 07969 510172

13

www.insurancepeople.uk.com

Online commercial Nick Giddings, PowerPlace

Printers

Pensord Magazines & Periodicals Tram Road, Pontllanfraith, Blackwood NP12 2YA

14

Actor, Leonard Rossiter, ex-Commercial Union

insurancepeople PO Box 537 Tonbridge Kent TN12 9WG t 01562 862990 m 07981 993974 e adrian@insurancepeople.uk.com

Ones that got away

8

Lindsay Campbell explains how BIBA encourages brokers to do business

11

Phil Sharpe takes up the theme of customer, customer…

15

Stefan Thomas, Markerstudy

16

Also find us on:

Pet insurance

Looking forward to BIBA Manchester David Sweeney, Sterling Insurance

17

News

26

On the move

ISSN 2043-9202 Insurance People is published monthly by Buttermere Wedge Publishing Limited.

While every attempt has been made to ensure that the information contained within this publication is accurate, the publisher accepts no liability for information published in error, or for views expressed. All rights for Insurance People magazine are reserved. Reproduction in whole or in part without prior permission from the publisher is strictly prohibited.

Who’s going where?

12

Simon Burley takes IP to visit a pie factory

28

Steve White recalls the day he was overtaken by a flying shed

26

On the Road Steve White on the white lines MAY 2014 insurancepeople 1

insurancepeople

Late News

Stammers joins CMC T

he insurance team of the newly launched consultancy start-up CMC Insurance is being led by Nick Stammers, whose 20 years’ experience lies in insurance, reinsurance, consulting and software.

Before joining CMC Insurance, he worked at Pro Insurance Solutions, before that at Concentra, specialising in business intelligence and visual analytics for the insurance market, and technology company Serverside Group, where he was director EMEA for tier one banks.

This new firm specialises in regulatory, risk and finance data for the global (re)insurance market.

Director Nick Stammers says, "I have been watching

Nick Stammers

closely the growth and success of CMC Europe since its formation, and I share the vision for the need of a specialist consultancy for the (re)insurance sector; a sector which is devoted exclusively to creating solutions for a select group of hard-to-place risks while delivering measurable results."

RSA look on the bright side at BIBA

D

espite reports that the new chief executive at RSA, Stephen Hester is aiming to make cost savings of “several million pounds as the next stage in the rehabilitation of the insurer”, RSA brokers can be assured of a positive stance from the RSA team at BIBA Manchester on 14-15 May. Speaking with Insurance People at the end of April Jon Sellors, group & UK head of external communications at RSA says the BIBA event is an opportunity for 2 insurancepeople MAY 2014

RSA to demonstrate its commitment to the broker market. “RSA has taken steps to improve its capital position and the Baltic and Poland sales have gone through. Our rating has been upgraded since Stephen Hester arrived which should give brokers more confidence and certainty. We are executing our plan to restore the capital position and we have good momentum behind that. RSA has a real appetite to trade with brokers!”

in association with

Insurance Choice caravan deal A s part of a new partnership, Markerstudy Group company Insurance Choice is now exchanging caravan leads with Alan Blunden & Co Ltd’s retail division, Cover4Caravans, in return for motorhome leads.

Russell Butlin, specialist vehicle sales manager at Insurance Choice, says, “As a business, we’re always seeking new opportunities. Following a recent review, we identified capacity to take on extra motorhome business, whilst offering

caravan leads in return the partnership with Cover4Caravans was the ideal solution. As we’re getting into short break and holiday season, this deal couldn’t have come at a better time.”

Richard Burgess, director at Alan Blunden, adds, “This is a mutually beneficial arrangement and a result of some very helpful and open meetings with Markerstudy Group’s retail team. It’s a win-win situation all round.”

Insurance Choice is a trading name of Insurance Factory Ltd.

Bob Trott joins Markham Private Clients

S

pecialist high net worth wholesale broker Markham Private Clients appoint ex-Oak Underwriting managing director, Bob Trott, as chairman. Andy Rolph and Matthew Ward, both previously business development managers at Oak, have also joined as divisional directors. The new team will be responsible for building Markham’s broker proposition and HNW agency base in the UK. “Markham is expanding rapidly and I’m delighted to be joining at such an important stage of the company’s

development,” said Bob Trott. “We’ll be working hard to build a strong agency panel and to help all our brokers get the most out of the unique tied-relationship Markham has with AIG Private Client Group.”

Bob Trott

market talk

Andrew Newman

in association with:

Who’s going to regulate the regulator?

H

as regulation reached its Frankenstein moment?

While there’s no doubt that statutory regulation has proved its worth from the consumer viewpoint - can anyone imagine the banks and the other mis-sellers voluntarily redressing their skulduggery without it? –

Tony Tarquini

recent events have tended to raise the spectre of the FCA ‘Frankenstein Factor’. “Have we created a monster?”

The recent outcry against the FCA resulted when its pre-briefing regulatory plans were accused of causing insurance shares to dip. Is it possible that an over-zealous regulator could feasibly bring an industry it represents to its knees?

That was a question I put to Tony Tarquini, director of insurance at business software provider Pegasystems when the matter of the FCA and its 2014 business plan came up. “I wouldn’t go as far as to say that it would destroy the insurance industry, but it

would have some serious repercussions on the IT systems that support it,” says Tony.

“There are doubts whether the FCA has enough technology skills and knowledge to regulate on raising the standard of financial technology. Too frequently the regulator is turning to outside consultants to fill internal gaps, which is perhaps indicative of not making IT infrastructure improvement a top priority.

“After a good first 12 months, the FCA is having a torrid time right now over its recent communications blunders. In my view, the FCA would more than repair

its bruised reputation if it took a serious look at helping the sector tackle service quality problems linked to financial services IT infrastructure that is increasingly not fit for purpose, and a complex mash-up of the good, the bad, and plain ugly.

“A real concern is whether the FCA has got all of its priorities right. A considerable source of customer complaint is system outages that block access to current accounts or disable direct debits.

Some in the industry are waking up to the need to address the IT infrastructure weaknesses that trigger these service interruptions.”

Scott to lead BIBA regional chair board T he chairman of BIBA’s East Midlands region since 2011, Grant Scott, has been appointed chairman of BIBA’s new regional chairs’ advisory board.

He also joins the main BIBA board relating specifically to the membership in each of its 13 regions.

Grant tells me he is looking forward to helping BIBA deliver its plans for modernising and tailoring its representation to suit the specific needs of

members in the regions.

“The new advisory board structure will help provide focus by ensuring that members in the regions have a simple route into BIBA through which they can raise issues and concerns. I can then make sure that their specific views are properly articulated to and by the main BIBA board and the executive.”

Current chairman of BIBA’s Central region Ian Langley, compliance and special projects director at Hamilton Fraser

Insurance, will serve as deputy chairman of the advisory board.

This new board is the fourth such advisory board to be formally launched following recommendations in BIBA’s Strategic Review to strengthen governance and segmentation.

BIBA chief executive Steve White adds, "I’ve long said that I want BIBA to listen and communicate with our members more effectively, and the new Board will play an important role in ensuring

that we deliver on that commitment. Members can rest assured that their concerns and ideas will be listened to and their views will be taken into account at BIBA.”

Grant Scott

MAY 2014 insurancepeople 3

market talk

HBC go West! (to Truro) eBroker for PowerPlace – online commercial for brokers Pets plead “No Easter chocs please”

Expansion at HBC H

BC Vehicle Services has opened its tenth UK site, this one in Truro, Cornwall. Managing director Steve Hankins, confirms the HBC strategy to have ten operational sites by the end of first quarter 2014 to improve delivery costs and time spent on the road. “As with the opening of our other recent sites in Scotland and Ormskirk, the expansion will also reduce emissions, something we are committed to at HBC.

Steve Hankins

“Working to increase productivity, the Truro site will cover Cornwall, Devon and Somerset regions and ensure HBC continues to provide an excellent service to customers who require nationwide collection.”

HBC will continue to acquire properties throughout 2014, aiming to hit their target of 12 properties by year end.

"Our aim is to continually improve geographical coverage in our 50th anniversary year,” says Steve. “Communication will always play a part in our ongoing investments, our new PDA is already widely used by all our drivers, the HBC App will be available in quarter Two and our new online 'Launchpad' system is now available to our insurance clients."

HBC was the first vehicle services operator to introduce on-site vehicle auction and to launch online auction services.

PowerPlace push online commercial C

ommercial lines progress with e-trading may not have been as rapid as the personal lines offering, but it is taking off according to Nick Giddings, CEO at PowerPlace. His article this month appears on page 13, and I asked Nick to elaborate on the means by which PowerPlace are meeting this micro-SME segment challenge for the broker market.

“Since PowerPlace came into the market, it has always delivered an efficient way for the broker community to trade SME business,” says Nick. “It provides the technology and marketplace to compare SME product lines and individual products at the touch of a button.

“Currently the platform supports UK brokers and

Nick Giddings

continues to drive forward the change to encourage more and more brokers to adopt an e-trading strategy as part of their business mix.

“This technology is readily available via PowerPlace – eBroker for PowerPlace – which allows brokers to now have an online shop-front to sell commercial lines products via their own websites supported by mobile connectivity.”

Don’t poison your pets with chocolate!

I

“ s your pet too fat?” - a headline I refrained from using on page 15 in the intro to the article by Markerstudy’s Stefan Thomas about pet obesity.

But I can voice it here, thanks to an endorsement of the theme by Julie Constable, pet insurance manager at LV=. Her warning received just before Easter put pet 4 insurancepeople MAY 2014

owners on alert to keep increased chocolate supplies in the house well out of the reach of pets over the Easter weekend.

“If a pet does get hold of some chocolate and eats it, then their owners should contact a vet for advice straight away.”

According to new claims data from LV= pet insurance, the number of

pets ‘poisoned’ by chocolate doubles over Easter. “Dogs and cats can be effectively poisoned when they eat chocolate and thousands are taken to the vet each year after consuming too much,” says Julie. “Chocolate contains theobromine and can cause vomiting, diarrhoea and dehydration if cats and dogs eat it.”

Julie Constable

New motor MGA - Hawkwell Ageas bike claims team ready for the ride

in association with:

Hawkwell opens its door T

here are plenty of new managing general agent births at the current time, but not many in motor. Those MGAs that already specialise in this sector tend to hide themselves below the radar, such is the competitive nature of the cycles in this particular market.

So it’s good to see Hawkwell Motor announcing its arrival, aiming to bring extra capacity for brokers across the UK and Northern

Tony Smith

Ireland for private car, commercial vehicle, and taxi insurance.

And there’s a familiar motor face at the helm. Tony Smith is the CEO, and in recent years he has been advising new MGA launches, but earlier enjoyed a high profile in the motor insurance division of HSBC, and before that with Corinthian before the takeover.

“Hawkwell is a new kind of MGA with a business model focused on what brokers have asked for,” says Tony. “What’s new and different is the way we’ve designed the business; the breadth and depth of the service we offer; and the systems it’s built on.

“We researched the market carefully, and we’re bringing brokers what they’ve been asking for - extra motor

See www.hawkwell-underwriting.co.uk capacity so they can compete better with direct writers. They told us they need a specialist firm that understands the market, and that is easy to work with.

They want competitive rates and an effective round-theclock claims service and systems that won’t let them, or their clients down. We listened carefully and that’s exactly what we’ve developed.

“Hawkwell is led and staffed by motor market experts. It runs on reliable modern technology and boasts an outsourced quality claims handling service which covers the whole of the UK, including

Northern Ireland, 24 hours a day, seven days a week, 365 days a year.

“In addition, we have the solid backing of the forward thinking and innovative insurer CGICE. This winning combination allows us to be extremely responsive and fast in our decision making – and able to offer the most personal and knowledgeable service to our brokers.”

Founded in 2003 Casualty & General Insurance Company (Europe) is a Gibraltarbased private insurance company trading through a UK authorised branch in London.

See: http://www.cgice.com

Ageas bikers help brokers’ bikers F

ollowing the acquisition of Groupama Insurances, Ageas UK has become the UK’s second largest motorcycle insurer. Claims director Rob Smale explains how the relevant Ageas claims team has adapted to this specialist niche. “It helps that around 80% of the team hold a bike licence themselves. So they know how it feels to be on the open road. Brokers can rest assured that our

claims handlers really understand the experience of motorcycling and the incidents from which a claim may arise,” says Rob. Not only that, but the Ageas specialist motorcycle claims handlers enjoy training sessions in conjunction with the Motorcycle Industry Association (MCIA). “These training sessions have become a regular feature, helping the team members to get

under the skin of what it’s really like to be a motorcyclist, and the skills required to be a good biker,” continues Rob. “This greater level of understanding has led to increasingly high customer satisfaction levels, and we have no doubt that much of this is down to the fact that our claims people have undergone this training and can therefore relate to our policyholders when managing claims. It

Rob Smale

means we can continue to provide the best service possible and help our customers to enjoy the biking season.”

MAY 2014 insurancepeople 5

market talk

New role for Haynes at ARAG Can the PPI protection gap be closed?

CDL partner with Wejo

A catch up with ARAG UK I

t was back in January 2014 that David Haynes took on responsibility at Bristol-based legal expenses insurer ARAG UK in a newly created role as head of underwriting &

David Haynes

marketing. The idea was for the marketing function to work more closely with product development to enhance existing products and develop new ones. “As we move forward, integration of our brand values with everything we do in every department of the business is crucial,” says David.

Speaking of the recent changes in the ATE market, MD Tony Buss says “The changes we’ve made in ATE and marketing will assist us in our drive to strengthen our position in the market to

DAS and has over 16 years’ experience almost exclusively in research, marketing and communications in legal expenses insurance.

Tony Buss

meet the evolving needs of our customers.”

A recent joiner at ARAG UK is senior marketing executive Rachael Wornes.

She previously worked at

British Money revamping PPI I

t’s always struck me as ironic that the national press and others took a lot of notice of the publicity Simon Burgess generated for his business several decades back with his innovative products (alien abduction – remember that?). But no one took any notice when he warned the market about the incoming PPI mis-selling scandal.

And now, as the founder of British Money, he’s helping to repair the reputation of the PPI sector, looking particularly at lenders with delinquent loans on their books. The FCA Mortgage Market Review is due to come into force just a few days before these words appear in print. “Amongst its reforms are calls for a ‘common6 insurancepeople MAY 2014

sense’ set of measures to help ensure borrowers can meet the repayments of the mortgage they want, both now and in the future,” says Simon. “This, the FCA believes, will help it meet a key objective to ‘secure an appropriate degree of protection for consumers’”.

But the measures are not defined, and Mr Burgess suggests they should include payment protection

Simon Burgess

insurance. “Very few lenders now offer this cover which has caused a huge protection gap. The reintroduction of revamped cover into the market will cut the proportion of delinquent loans on lenders’ books. It will reduce the likelihood of an FCA investigation into lending criteria (plus any fines) and it will, more importantly, provide clients with a valuable financial safety net, clearly evidencing how the lender adds value and treats customers fairly.

“In its 2013/2014 Business Plan the FCA says a key risk is that ‘firms do not design products or services that respond to real consumer needs, or that are in consumers’ long-term interests’. The market has to address this.”

Rachael Wornes

CDL in apps partnership

S

oftware provider CDL has entered into a partnership to launch Wejo's smartphone telematics app to the insurance sector. CDL commercial director Nigel Phillips says, “We’ve seen a surge in interest in telematics this year, and a demand for greater choice in terms of the types of products retailers want to be able to offer their customers.

This new partnership with Wejo is part of our wider strategy to integrate the CDL Telematics Hub with selected telematics service providers, who we believe offer a competitive edge in the marketplace. By linking it to our hub, we now offer a choice of fully automated end-to-end telematics products.”

“There’s a stream of talent in London”

in association with:

Older travellers move online

Developing ‘high calibre’ talent Dear Editor, nce I read the article in the April issue of Insura gs Direct Hastin at or direct HR m, Menahe Amanda People by calibre’ with great interest. The development of ‘high industry, talent is a pressing need for the insurance based away are Direct gs Hastin and it’s such a pity that stream of from London because that’s where there is a talent available!

behind The same issue of IP on page 24 cites “CII gets is the to refer you scheme The apprenticeships scheme.” recently Insurance Growth Action Plan (IGAP) published on behalf

by HM Treasury under which the CII and the ABI the of the industry have made a commitment to double over nce insura in ips ticesh appren cal number of techni the next five years. employers It’s very laudable of such bodies to encourage t talent, to learn more about the opportunities to recrui the and ips ticesh appren about more and to find out . funding opportunities from government and others

“

70-plus travellers switch online T

he days of older travellers booking insurance over the telephone, or in the High Street are long gone”. That’s the view of specialist travel provider AllClear, citing the fact that more travel insurance in this age group is now purchased online.

AllClear carried out research in March 2014 among 1,000 customers in the 70-plus age group.

Around 82% sourced their arrangements online, the majority completing their quote in under 10 minutes.

In the 51–70 years age group, 90% of users completed their quote online.

AllClear suggest that older travellers are becoming increasingly willing to book travel cover online as the most efficient way to do so.

Final Celebration for Celebs

ABI and But… the point is that trade bodies like the offer BIBA and professional bodies like the CII can’t They lves. themse ed requir s number the in apprenticeships s in the can only encourage employers and practitioner ed. market, such as Amanda Menahem, to get involv As a trustee of The Brokerage Citylink like to (www.thebrokerage.org.uk) the message I would Brokerage get across is that, in London at least, The needed to can provide enough bright ‘A’ level students fill the vacancies. we run We are funded by the City Corporation (for whom Bank of the City Business Traineeship Programme); the and a vast England; the Worshipful Company of Insurers; array of City employers. get onside, It’s the market practioners that we need to time for and the industry needs their buy-in. So it’s talent. new of lack any ing bemoan stop to ry the indust and ep, doorst our on There’s plenty of talent. It’s does, and nk Cityli age Broker what is need that g feedin has been doing for the past 25 years.

Reg Brown, Trustee, Brokerage Citylink of high P.S. A plea for help! To continue the supply asks all ately desper nk Cityli age Broker talent e calibr ble to availa rooms ng traini insurance employers to make e us to run workshops. A good number already provid and great in are es servic our training rooms, but contact growing demand. For more information please at ive Execut Chief , Xavier h myself or Debora Deborah@thebrokerage.org.uk

T

he Insurance Celebs held their final Celebration Dinner at the Mill Hotel, Alveley, Shropshire in April.

Photographed prior to dinner are, left to right: Andy Hawkes, Neil Williams, John Dobson, Graham Getgood, Des Johnston, Don Oakley, Jon Hurley, Steve McNally, Jim Robinson, Adrian Susman, Malcolm Evans, Brian Susman, Brian Lambert, Ryan Thorpe, Dave Haynes, Andy Parkinson, John Davidson, Graham Gomm, Neil Hames,

Keith Fowles, Peter Thorpe, Geoff Doyle, Lyndon Willshire, Alistair McLaren, Geoff Mayhew, and Lloyd Hanks.

Inset: Andy Hawkes makes a presentation to president Brian Susman, to mark the completion of 17 years of Celebs cricket.

MAY 2014 insurancepeople 7

interview

Lindsay Campbell CONFERENCE CHIEF BIBA

Mission to Manchester – May 2014 The last time BIBA’s Conference Chief Lindsay Campbell and the Editor conversed in print was in 2012, when they were both, like now, in eager anticipation of the event’s return to Manchester. More about that later, but the conversation this time kicked off on the rise-and-rise of the Exhibition AN: As a BIBA attendee of fairly longstanding (I can only recall missing three annual conferences since they began) I will inevitably take a moment on arrival within the magnificent former Manchester Central railway station to stand in awe, to admire the functionality and originality of the multitude of exhibition stands, some seemingly multi-story edifices. I guess, even though you are at the heart of it all, you may snatch a moment to do the same?

LC: I certainly do. When I arrive on site the day before the conference opens, the sheer size of the exhibition and the lengths that many exhibitors go to - to ensure such an enviable impact at the show - never ceases to amaze me. And I’m not just referring to the larger stands, although many of these are pretty impressive.

The innovative and imaginative designs of some of the smaller stands over the years have been interesting too. Indeed, it’s amazing to see what can be achieved on a smaller budget. We do, of course, judge the stands each year, with four separate awards going to those which, in the view of the judges, have made the greatest impact at the show, relative to their size. The most successful stands are those which are inviting and encourage 8 insurancepeople MAY 2014

delegates to engage and do business, which is after all what the show’s all about.

The most successful stands are those which encourage delegates to do business

“

”

AN: The exhibition stands seem to get better and bigger every year – it’s almost as if every exhibitor wants to outdo their neighbour. Are there any territorial disputes for you to settle?

LC: That question makes me smile. I can’t say we’ve ever had a territorial dispute, thankfully. Each exhibiting company is required to adhere to rather stringent Health & Safety regulations these days. There are strict guidelines, for example, about the height they can build to etc. and we’ve seen H&S officials spring into action when limits are breached!

(That made me smile! – Ed) That aside, before finalising the exhibition floor plan each year, we first provide our principal sponsors with advance sight of this and pre-

reserve for them a similar size and position of stand to that which they had the previous year. This generally seems to work. Likewise, our Partner firms also have sight of the plan prior to its general release. We certainly try to work with all our exhibitors to ensure any particular needs or requirements are met, therefore hopefully avoiding any disputes.

AN: But with the economic screws still evident in these recessionary times, is there any hint of any downsizing?

LC: Rather than downsizing, I think the opposite can be said, at least for this year where we’ve seen some stands grow in size. There will always be budgetary constraints, which could potentially impact a company’s presence at the show, but from what I’ve seen so far, returning exhibitors are generally booking the same size stands as

Exhibitors at BIBA “appreciate they are directly supporting brokers

”

Which exhibition stand - relative to size - will make the greatest impact at BIBA? There are four awards on offer!

they’ve had in previous years, especially if they’re looking to economise by re-using existing popups, graphics etc. I think exhibitors appreciate that by exhibiting at BIBA they are directly supporting brokers as the success of the show helps us to invest more in the industry through our work over the rest of the year.

AN: What about any conflict with the speakers in the conference hall next door? In earlier times the imaginary tumbleweed did indeed blow through the exhibition area while everyone was whisked out to hear the speeches. Nowadays, the exhibition area has transformed into a place where you can spend all day if you wish (and still miss something). Is there a knock-on effect?

LC: That’s a good point. We’ve made entry into the exhibition completely free of charge for all brokers, including non-BIBA members, so gone are the days when the exhibition hall completely clears out when conference sessions are on. The knock-on effect of this has been the increasing number of brokers that the show now attracts. This has led to the provision of additional meeting areas in and around the periphery of the exhibition, and ensures the hall is continually buzzing with people wanting to do business and forge new working relationships.

me personally there have been so many memorable speakers that it’s difficult to choose, but from a purely inspirational point of view, the one that most stands out is Chris Gardner at BIBA 2007 with his rags to riches story which, at that time, was the subject of a major Hollywood movie entitled The Pursuit of Happyness, starring Will Smith.

Chris’s presentation certainly left a lasting impression on me.

Entry into the “exhibition is completely free of charge for all brokers

”

AN: And so to Manchester. BIBA has booked it for three years, so what makes Manchester work for you and your colleagues?

LC: Why Manchester? Predominantly because of the positive delegate and exhibitor feedback we receive.

That’s not to say Manchester isn’t a firm favourite for BIBA staff too. The

fact that we can hold the exhibition in one purpose-built area is great from an organisers’ point of view.

Manchester Central is also ideally located with a variety of hotels to suit all budgets, all of which are just a short walk from the venue.

Transport links also make it easily accessible for delegates and exhibitors alike, so all in all we’re delighted to be returning to Manchester for three consecutive years.

AN: And finally what venues and restaurants could you recommend to any first time visitors?

LC: That’s easy. For those looking for something to do on 14 May, they can join in the fun at BIBA’s Wednesday evening social event at The Comedy Store, which has become something of a tradition for us when in Manchester. We’re always looking for up-and-coming comedians and this year promises to be no exception. Manchester is such a vibrant City that there are numerous other places to visit and wonderful places to eat - one of my favourites is Rio Ferdinand’s restaurant, Rosso, which is just a short walk from Manchester Central.

AN: The quality and diversity of the speakers has itself been transformed. Who stands out for you in recent years?

LC: Selecting the speaker programme seems to be getting harder each year, and is actually one of the most time-consuming aspects of organising the event. For MAY 2014 insurancepeople 9

‘Uncle Ren’ T

he only clue as to the identity of the group portrayed on this month’s postcard from the Reg Brown collection came from the dealer’s reference -“1940-55 Staff of Charles Taylor London Marine Insurance”.

Mike Lord, group communications director at Charles Taylor plc kindly checked and confirms this is indeed a firm’s group photo taken during WW2 when Luftwaffe bomb damage forced the Charles Taylor staff to evacuate the City office for Surrey.

Several figures have been identified - Ray Brookman, Vic West, George Goddard, and ‘Ren’ Keat, but it’s the latter who steps forward from his centre-back position, lurking in the back row (6th head from the left, with dark hair).

To his godson Trevor Smyth, George Reynolds Keat was always ‘Uncle Ren’. And ‘Ren’ to everyone else it seems.

Trevor Smyth has kindly retrieved the accompanying photo taken of ‘Uncle Ren’ later in life. “Everyone knew him as ‘Ren’, and this later photo is exactly as I remember him, as he would have been during his last years at Charles Taylor,” says Trevor. “He spent that time in Bermuda, working for Charles Taylor, where I believe he went to open a new branch of the company.

“And yes, I also remember the group postcard too. I used to visit Uncle Ren in his St Mary Axe EC3 office regularly, and collected used stamps that he would save for me from the office mail.

“Uncle Ren later arranged an interview for me with freight carrier Port Line, part of the Cunard Group, and I

10 insurancepeople MAY 2014

joined them in Cunard Place as a shipping clerk during 1960-67, and enjoyed working there with a great bunch of people, until I left to become a computer programmer.

“And when I was a child, my sister and I would stay with him in Epsom, and spent summer holidays in Ferring, Sussex. He was great with children (having none of his own) and would play with us on the beach in the 1950s. I remember super sand structures, and a wonderful large sand-boat!”

‘Ren’ Keat

customer, customer…

Phil Sharpe CHIEF OPERATING OFFICER UK & I RETAIL ACE GROUP

Embracing customercentric delivery

21st century customers – are we delivering what they want?

Phil Sharpe believes this year’s BIBA Conference theme ‘customer, customer, customer’ - is an opportune moment to ask ourselves the question: “What does the new generation of customers want from us?”

C

ustomers are increasingly comfortable with online information, comparison sites, and instantaneous responses. They are savvy buyers, who want to do their research before purchasing, and who expect us to be in tune with their needs.

We must be able to offer fast and reliable responses, early renewals, transparent product wording, clarity on risk appetite, and products that respond directly to them. oday’s 21st century customers also increasingly want cover on a multinational basis. With 90% of global growth predicted to be generated outside Europe over the next 10-15 years, this trend is only set to continue, as companies in the UK, both large and small, expand their horizons into international and often emerging markets.

However, as companies expand, so they encounter increased risk.

This means we have to work harder to ensure policies work seamlessly across borders and are compliant with local regulations.

Responding to these challenges, we need to embrace more customer-centric underwriting. We have access to a wealth of data, and we should mine and analyse it more effectively, and create more sophisticated modelling that will

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allow us to rethink our assumptions and predictions.

This way we will be able to predict new risk scenarios, create covers for emerging risks, and ensure cover will respond effectively.

The industry has risen to the challenge with emerging risks such as cyber or environmental risk, but there are many areas where the insurance solution is yet to be formulated.

Claims serve as the acid test of customer experience - and insurers’ promise

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”

Of course, claims are vital to the success of the industry. They serve as the acid test of the customer experience and the insurer’s promise to pay. There is more work to be done to improve the claims experience with pre-loss planning, testing of claims protocols, and ensuring that claims staff are available and empowered to make decisions on the ground. Quick claims payment will continue to be a cornerstone of customer service requirements.

I

n these times of surplus capacity, it’s also important that underwriters do not compromise on underwriting discipline, and should not be tempted to underwrite risks they do not understand.

Transparency in the underwriting process is needed to help brokers and clients understand the risk tolerance of all parties.

I am confident that as an industry we can deliver the seamless solutions that give clients confidence their claim will be assessed and paid quickly. But to satisfy the changing needs of our customers, both now and in the future, we will need to use technology to its best effect, share information, undertake better data analytics, and be willing to adapt.

It sounds simple, but the reality is that it may take a change of mindset for some, if the industry is to live up to expectations.

MAY 2014 insurancepeople 11

A day in the life… …of a policyholder’s claim expert IP’s reporter Karl Brown spends a day on the road with Simon Burley

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hile Lorega’s loss recovery insurance, property claims, and business interruption expertise has featured on these pages before, I didn’t know they also covered liability claims.

It transpired that a batch of carrots had tainted the taste after being adversely affected by a chemical while being washed by their supplier, prior to delivery to the pie manufacturer.

I was mistaken; Lorega Solutions, their chartered loss adjusting business, has recently expanded to handle this often complex type of claim.

The FD of the meat pie company thought they would have been covered by their product liability insurance but, although they were contaminated, the insurance company decided that, as they were not ‘harmful to health’, the claim was invalid.

I was meeting Simon Burley of Lorega Solutions, who is a past president of the Chartered Institute of Loss Adjusters and an expert in liability claims.

We were off to meet the finance director of a Manchester pie company, where Simon had helped to resolve a product liability claim.

On the way, Simon explained that the company had an established reputation as one of the leading providers of meat pies in the UK. They take their quality control very seriously and were horrified to find that one particular batch of pies was, unusually, not up to scratch. Fortunately this was spotted before despatch.

Small print in product liability can be unhelpful

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insurance and compensate the meat pie company for their loss of production.

”

Facing a loss in excess of £100,000, it was at this point the company retained Simon to try to resolve the claim. Through the production records they were able to pinpoint the supplier of the particular batch of carrots.

Simon had been able to demonstrate to the supplier that the chemical had affected the batch, and that they were responsible for the problem.

By liaising directly with the supplier’s own insurance company they were able to claim on their own product liability

12 insurancepeople MAY 2014

Simon Burley Liability Claims Expert Lorega Solutions

As Simon explained, “The small print in the product liability insurance was particularly unhelpful, but we were able to demonstrate that the supplier was at fault and all was resolved.”

The insurer “decided the claim was invalid ” The FD told me that, “If it hadn’t been for Simon’s detailed knowledge of product liability insurance I would have been facing an unsustainable loss. Having access to an expert saved our pies!”

Of course, whilst we were there, it would have been rude not to have tried their pies, and all I can say is that the ones I tried were certainly very good!

Karl Brown

online commercial

The changing landscape of commercial lines

Online commercial is now on the march!

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here’s no doubt that online personal lines insurance has grown rapidly over the last decade. This evolvement has been largely driven by the consumer who wants more choice, competitive pricing, and real-time access.

This trend is now being adopted in segments of commercial lines, in particular within the micro-SME sector and similarly is a result of the change in buying behaviour.

Since 2013, the number of SME’s has continued to rise in the UK and their expectations in terms of choice, affordability and cover being available at the touch of a button doesn’t really differ from the way in which the SME owner purchases car, van or home insurance.

As this demand increases, the traditional approach of serving the micro-SME segment is coming

under threat. What’s needed is an efficient way for the broker community to trade SME business, with the technology and marketplace to compare SME product lines and individual products at the touch of a button.

Such a platform can support UK brokers and continue to encourage more and more brokers to adopt an e-trading strategy as part of their business mix.

The micro-SME segment is an area where brokers continue to be at risk of losing market share.

Their needs aren’t as complex, and a pure e-trading approach can be applied to meet the microSME’s expectations.

The dynamics of this market have changed, and will continue to do so. Brokers need to be equipped with technology that provides them with the ability to sell directly to this audience group.

Nick Giddings CEO POWERPLACE

Brokers need an online shopfront to sell commercial lines products via their own websites supported by mobile connectivity.

The future journey for commercial lines supported by online trading presents a massive opportunity for UK brokers. The e-trading rush is on, and the next few years will certainly shape how the commercial lines insurance arena evolves in a highly competitive market place.

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With continued investment and systems development we are able to set the standards that others struggle to achieve. We are the safest hands in salvage.

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MAY 2014 insurancepeople 13

“The ones that got away” Another thespian escapee this month - a promising insurance career nipped in the bud by the lure of the stage

Leonard Rossiter Actor Leonard Rossiter spent six years working at Commercial Union in Liverpool, during which time he is believed to have shared an office with fellow-actor Michael Williams. He joined a local drama group and made his first appearance with the Adastra Players in Terence Rattigan's Flare Path.

At age 27 the urge to go ‘over the wire’ became too strong, so he left CU to enrol in repertory theatre in Preston at that comparatively late age. In his first two years he played over 75 roles. He later said he

“developed a frightening capacity for learning lines. It was the perfect preparation for rehearsing situation comedy on television at the rate of one episode a week!"

The television sit-com work came later in his career, and his earlier years saw him working through the more serious roles. In 1959 he spent two years at the Bristol Old Vic, followed throughout the decade by a succession of stage work. His performance in the premiere of the stage production of Bertolt Brecht's The Resistible Rise of Arturo Ui in 1969 received much critical acclaim.

He began his film work in 1963 in Billy Liar and established himself as a respected actor in films, stage, and television. His occasional roles in Z-Cars, Steptoe and Son, The Avengers are still remembered.

The immortal roles of Rupert Rigsby and Reginald Perrin turned him into a household name, a reputation helped on later with TV commercial work, such as a traffic warden for Parker Pens, and starring with Joan Collins as her boorish companion in a series of Cinzano commercials. It’s said that Rossiter used to refer jokingly to Collins as "The Prop".

Leonard Rossiter was born in 1926 and died in 1984 while waiting to go on stage in the Joe Orton play Loot at the Lyric Theatre, London.

14 insurancepeople MAY 2014

pets

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Pet obesity – a ‘weighty’ issue for the industry

o, is your pet obese?

Unsurprisingly, this is not a question we’d find it easy to ask at Markerstudy or BDML Connect.

Moreover, it’s not something owners would always be prepared to answer.

Research published in March by the Pet Food Manufacturers Association (PFMA) found that three in four vets believe obesity is an… ahem… ‘growing’ problem and feel that 45% of all pets coming to their surgeries are overweight.

It’s a different story among owners, however, with the report finding 63% believe their pet is the correct weight. It’s this loving ‘blindness’ that we struggle with as brokers. Who’s going to admit that ‘Fluffy’ has put on a few pounds or has developed a penchant for sausages?

I have pets myself (two moggies and a Maine Coon), so I know that animals are often seen as family members, making insurance

an emotionally-charged product.

We have to be careful, as an industry, not to upset our customers. After all, unlike motor, it’s not a legal requirement and it’s taken out by owners simply because they care and to safeguard themselves against unexpected vet costs.

Stefan Thomas

T

he fact is, as in humans, obesity can have an effect on respiratory and cardiac problems and is associated with Type 2 diabetes. In general terms, an obese pet is more likely to develop health issues and require medical treatment than one of the correct weight. Therein lies the issue – we need to be able to rate risks accurately to keep premiums competitive, and currently there’s no obligation or incentive for a customer to tell us their pet’s weight.

Perhaps it’s something that could be introduced with the help of

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PET UNDERWRITING MANAGER MARKERSTUDY GROUP

vets – but what would the consequences be? It would certainly help us as underwriters to cost the risk more accurately, potentially leading to lighter pets and lighter premiums. But would it discourage owners from taking out cover by making them feel guilty about those extra pounds?

Personally I’m not sure of the answer, but I have a feeling this is one issue that’s likely to get bigger in the future.

PowerPlace is the online marketplace that provides your business with the flexibility to offer your customers access to a range of insurance products online, on their mobile or tablet devices 24 hours a day, 7 days a week.

Talk to us about our quote-and-buy facility for SME consumers, eBroker for PowerPlace and also our mobile-ready version mBroker for PowerPlace, and see for yourself the benefits our e-trading platform can bring to your business.

MAY 2014 insurancepeople 15

BIBA review

David Sweeney DIRECTOR – PERSONAL AND COMMERCIAL INSURANCES STERLING INSURANCE

Looking forward to BIBA Manchester To complete the anticipation of the forthcoming BIBA Conference, Insurance People invited David Sweeney to cast his mind back to 1978 when the first conference took place.

Then to describe the reasons why this moment of contact with the broking market is so important to Sterling Insurance

S

o, remember 1978? Sadly I do, all too vividly!

Well as a quick reminder…

Bjorn Borg beat Jimmy Connors and Navratilova beat Chris Evert at Wimbledon; Geoffrey Boycott captained the England cricket team for the first time; Mohammad Ali became heavyweight boxing champion; and the Bee Gees’ Saturday night fever was number 1 for 24 weeks!

But something far more important was happening in the midst of all those memories in Birmingham, when BIBA held its first ever annual conference.

Fast forward 37 years later and the BIBA conference is still going strong, and remains one of the most vibrant and exciting events in the broker calendar.

For Sterling, BIBA is a vital part of our contact strategy with brokers, and from morning to night (and sometimes very late at night ) on the 14th and 15th May 2014, my colleagues and I will be telling brokers about our current and 16 insurancepeople MAY 2014

Our message this year at Stand D79 will simply be about driving growth through service. It’s what we stand for at Sterling and I believe that it’s our total service commitment to brokers and clients that sets us apart from many of our competitors.

Sterling’s geographical footprint is growing with increased regional presence in Birmingham, Manchester and Scotland and the support we have received from local brokers has been superb; we are hoping to see as many of them as possible at BIBA where we will be showcasing our market leading executive range of home and commercial products.

We constantly work with them to improve our product and service offering and have introduced a number of initiatives this year as a direct consequence of broker feedback including our broker portal which is being rolled out to brokers as I write and further expansion of our training program, including a highly popular series of technical training based webinars.

BIBA is always a busy two days with over 5,000 visitors and a vast array of industry speakers and exhibitors. There’s no end to the exciting initiatives displayed on many of the stands, with animals, celebrities, photo booths and exotic foods but fundamentally BIBA is about the individuals that attend and building relationships with them.

Our award winning Sterling Training Academy provides technical and soft skills training and support to brokers and on the back of renewing our Chartered Status, we actively encourage CII participation through a structured mentoring program.

Sterling is privileged to work with many of them and indeed this year, we are celebrating 50 years of working with one of our first brokers, Morton Michel, a relationship that is based on trust and service and has stood the test of time! That’s what our industry and BIBA is all about!

future plans and how we can help them grow their business.

insurancepeople

News

Lack of clarity on charges

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he FCA says that too many advisory firms are not being clear with consumers on how much advice costs, the type of service they offer (whether it is restricted and the nature of the restriction) and what on-going services they provide. The FCA's latest review into disclosure by financial advisers found that 73 per cent of firms failed to provide the required information on the cost of advice.

Clive Adamson, director of supervision at the FCA, speaking about the Retail Distribution Review, says, “RDR has involved a major change to the investment advice landscape.

While we have seen a lot of positive progress and willingness by advisors to adapt to the new environment, I am disappointed with the results of our latest review looking at whether advisors are clear with their customers on costs and services provided.

“We will be helping the industry again to understand our requirements with the release of a video guide but these results are a wake-up call and we expect the industry to respond.”

The latest review found that: ● 58% of firms failed to give clients clear upfront generic information on how much their advice might cost; ● 50% of firms failed to give clients clear confirmation on how much advice would cost them as individuals; ● 58% of firms failed to give additional information on charges, for example not highlighting that on-going charges may fluctuate; ● 31% of firms offering a ‘restricted’ service (they cannot advise on the full range of financial products and providers available) were not being clear they were restricted, or the nature of the restriction; and ● 34% of firms failed to give clients a clear explanation of the service they offer in return for an ongoing fee and/or their right to cancel this service.

Softening energy insurance rates

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arsh expects energy insurance buyers to benefit from renewed competition and a downward pricing trend at their mid-year policy renewals, following an influx of capacity from new capital providers such as private equity firms, pension funds and hedge funds, reduced reinsurance costs and few losses in 2013.

Its latest Energy Market Monitor says that many insurers are displaying an increasingly strong risk appetite for energy risks and have released additional capacity in the first quarter of 2014.

Andrew George, chairman of Marsh’s Global Energy Practice, comments, “After three years of overall stability in the energy insurance marketplace, new capital streams are changing its dynamics, making it the

most volatile it has been for a generation.

“The additional capacity created by an influx of capital from private equity and hedge funds could be potentially short-lived, if expected returns on investment fail to materialise. Meanwhile, longer-term investments from pension funds could provide greater stability, although this type of capacity is only just starting to have an impact.

“Reduced reinsurance costs, good loss ratios particularly in the upstream business, and an intensified focus on growth by key insurers all indicate a downward pricing trend across key energy risks.

This downward pressure on rates is likely to accelerate leading up to mid-year renewal dates, which is good news for energy insurance buyers with robust risk portfolios and good claims histories.”

30th anniversary for Open GI user group

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he Open GI user group is this year celebrating its 30th anniversary, and its acting chairman Jonathan Lyth, of JCB Insurance Brokers, comments: “Whilst we are a separate, independent body, over the last 30 years we have worked closely with Open GI to ensure our members' voices are heard. Open GI have allowed us to influence the direction in which their solutions have evolved and we feel as though we've made a real difference.

“We regularly canvass opinion from members on what they'd like to see from Open GI and it's pleasing to see that more often than not, these opinions are reflected in the solutions that Open GI create. We feel as though we're helping to shape technologies for both commercial and personal lines."

MAY 2014 insurancepeople 17

insurancepeople

News

80% of insurers ready to implement Solvency II by 2016 N

early 80% of European insurers expect to meet Solvency II requirements before January 2016, according to EY’s European Solvency II Survey 2014. Overall, Dutch, UK and Nordic insurers are the best prepared, while French, German, Greek and East European (CEE) insurers are less confident.

The survey of 170

insurance companies, conducted in the Autumn of 2013, is an update of EY’s 2012 pan-European survey and spans 20 countries including Europe’s largest insurance markets. The findings reveal a consistently high state of readiness to implement the Pillar 1 balance sheet and fulfil most of Pillar 2, systems of governance, but Pillar 3, the reporting

requirements, still presents a major challenge.

Martin Bradley, EY’s global insurance risk and regulation leader, says: “Postponing the Solvency II regulatory deadline to 2016 has bolstered insurer confidence that they can meet the requirements in the time frame. However, as companies become more realistic about their implementation readiness,

it is clear that some are less prepared than they had expected - many simply delayed their plans by at least one year, which might cause them issues now.

While insurers are sending a strong message that they are seeking to improve their risk management effectiveness, they have a long way to go in terms of reporting, data and IT readiness.”

1 in 7 has no personal pension provision at retirement

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ne in seven (14 per cent) of those planning to retire this year has made no personal pension provision and will be either totally or heavily dependent on the state pension, according to research by Prudential.

Women are nearly three times more likely than men to retire with only the state pension. Almost one in five will retire with income below the Minimum Income Standard. And the state pension will account for 35 per cent of average retirement income for those planning to retire in 2014.

The insurer’s seventh annual 'Class of' study, tracking the future plans and aspirations of people who plan to retire this year, 18 insurancepeople MAY 2014

shows that in the class of 2014 women are nearly three times more likely to rely on the state pension than men – 20 per cent of women say they have no pension savings compared with seven per cent of men.

The research shows that nearly one in five (18 per cent) of those planning to retire this year will have a retirement income below the Minimum Income Standard as defined by the Joseph Rowntree Foundation. JRF estimates that a single pensioner needs an income of at least £8,600 a year to reach a minimum socially acceptable standard of living; a retired couple needs an annual income of more than £12,500.

Gallagher buys NZ broker

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rthur J. Gallagher has announced the acquisition of Mike Henry Insurance Brokers Limited, a niche-focused commercial insurance broker based in New Zealand with annual revenues of approximately US$4.5 million. Terms of the transaction were not disclosed.

Headquartered in Auckland and led by CEO Graham Henry, MHIB offers dedicated capabilities geared towards specific industry sectors, including transportation & freight, jewellery & watchmakers, hotels & hospitality, real estate and public sector.

Sure Thing! to target higher premium market F

ormer Kwik Fit Financial Services group MD and Ageas Retail commercial director Brendan Devine has set up a new broker, Sure Thing!, with multi-million pound private investment backing. It will target the higher than average premium market and will use the CDL Strata system.

Sure Thing! Is occupying a 5,000 sq ft business park in central Scotland, with an option to more than double its floor space and increase head count to around 140 over the next two years.

Brendan Devine, CEO of the company, says, “The diverse experience of our management team has allowed us to create a business that speaks directly to our target audience and gets to the heart of exactly what they are looking for when it comes to buying insurance – a seamless, straightforward and efficient customer experience packaged together by a team of individuals who love insurance as much as our clients love their cars.”

Steve Hardy, cofounder of SwiftCover, and

Peter Hubbard, CEO of UK General Insurance, are on the board as non-executive directors.

The company has also recruited Michael Lynch, who has joined the business as marketing director following senior level posts with Hastings Direct and Kwik Fit Financial Services. Stevie Sutherland, formerly of Ageas Retail, joins the management team as commercial director, while Eileen McFadden, formerly of Towergate Insurance, takes up the position of operations director and

Brendan Devine

Vincent Goldie joins the business from AXA Commercial as head of finance.

Broker banned and fined

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avid Wren, former chief executive of Astbury Wren & Co of Chester, has been banned from undertaking any regulated activity and fined £70,000 by the FCA. He was found to have taken £630,909 in premiums paid by his clients for his firm's use. The FCA concluded that he “ … breached a fundamental regulatory principle, which is a requirement to act with integrity”.

Astbury Wren paid premiums it collected into a client account. As chief executive, Mr Wren was solely responsible for then transferring the commission the firm was entitled to into Astbury Wren’s office account. However, the FCA found that between March

2009 and February 2012 over £630,000 more was transferred than had been earned by Astbury Wren in commission. Instead of paying insurance premiums with the money, Mr Wren used it to cover office expenses.

Astbury Wren ceased trading on 20 February 2012, owing £1,408,890 to insurers in unpaid premiums. Three customers had to pay their premiums again (totalling £9,021) or face the cancellation of their policies.

Mr Wren’s fine was reduced by 30 per cent, as he settled the case at the first opportunity. However, the FCA judged the failings to be so severe that it did not reduce the fine as a result of financial hardship.

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News

“Unfair windfall” law upheld – comfort for insurers

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ational law firm, DWF Fishburns, has expressed support for the unanimous decision of the Supreme Court in clarifying the law in relation to wrongful death claims which occur in other countries and are pursued in England and Wales. The company says that the decision will be a comfort to insurers, particularly foreign insurers, as the

Fatal Accidents Act 1976 will not apply in cases where a foreign law is applicable.

The Supreme Court judgment, handed down on the 2 April, resulted from the Cox v Ergo case where a UK resident while, working in Germany, was hit by a car when cycling, causing his death. The driver of the car was a German national, resident and domiciled in

Germany, and was insured

by Ergo Versicherung AG registered in Germany. The case was brought by the deceased’s widow.

There was no dispute as to the liability of the driver, or that his liability should be determined by German law, however, the resolution of a number of supplementary issues relating to damages depended on whether they

were governed by German or English law, and, if by English law, whether by the provisions of the Fatal Accidents Act 1976 or on some other basis. The Supreme Court unanimously dismissed the appeal, finding that English law does provide a remedy that harmonises with the German legal right to maintenance, namely common law damages.

Ecclesiastical welcomes tougher sentencing

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cclesiastical has called government proposals for tougher sentences for criminals damaging heritage and faith buildings ‘a positive step in the fight against heritage crime’.

Welcoming the Sentencing Council’s new proposed guidance for judges and magistrates to take into account ‘damage to heritage structures’ when calculating the starting point for

sentences for theft, Ecclesiastical’s heritage underwriting director Paul Bloxham said: “These new guidelines are certainly another positive step in the fight against heritage crime so we hope the proposal receives widespread support during the consultation in the coming weeks.

“Unfortunately the sentences for criminals

RAC joint telematics venture with Quindell

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he RAC and insurance and telecoms technology business Quindell have announced a joint venture creating a new business, Connected Car Solutions Limited, to distribute their telematics technology with an initial £30m investment.

The two businesses will market and distribute this technology across the UK, Europe and Canada.

RAC chief executive Chris Woodhouse says, “We have created a joint venture business which will ensure that RAC telematics is at the fore of insurance and motoring innovation and a financial deal which will enable the RAC to give all of its members the benefits of state-ofthe-art telematics technology.”

20 insurancepeople MAY 2014

damaging our heritage buildings and structures have often been far too lenient to deter them from similar activities in the future and many of them commit their next crime only days or weeks after completing their previous sentence.

“Ecclesiastical has played a significant role in the fight against heritage crime with thousands of our customers and the

communities they serve suffering due to the mindless activity of criminal gangs.”

According to Ecclesiastical’s latest data, a total of more than 6,700 churches and 42 commercial heritage properties, such as museums and country houses, have fallen victim to metal thieves in the last five years, costing nearly £12.5m.

Asta takes over as MA to Skuld

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loyd's third party managing agent Asta has taken over as managing agency to Skuld Syndicate 1897 under a novation agreement from April 1st. The syndicate was previously managed by R&Q Managing Agency.

Syndicate 1897 is a diverse provider of marine and energy insurance with a stamp capacity of £85 million for 2014. Skuld is the main capital provider for the syndicate, with

French reinsurer SCOR providing the balance of the capital.

Julian Tighe, CEO of Asta, says, “As a provider of marine and energy insurance syndicate 1897 brings a diversity of business to Lloyd’s which sits comfortably with its strategy for future growth.

We look forward to working with them to help grow the business further and to build on their successful start within Lloyd’s.”

Hastings GWP up to £407m

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New household claims service for Covéa

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ovéa Insurance has launched its in-house household claims service, following the in-sourcing of the management of its household claims. It has recruited and trained a 40-strong team of claims specialists at its Halifax office to manage the service.

Claims director Adrian Furness says, “Claims management is one of our core competencies and bringing our household claims handling operation inhouse allows us to build upon and maximise our capabilities. Cunningham Lindsey, our current service provider, has played an instrumental role in helping us successfully manage the transition, and they will remain our key home claims partner providing various loss adjusting and specialist services.

“Being recognised by the ICS as providing ‘World Class Service’ for our motor claims handling service is a significant milestone in achieving our ambition to provide ‘world class’ service across all our operational areas by 2016.”

ighlights of the Hastings Insurance Group results for 2013 include: adjusted EBITDA increased by 25% to £90.3m (2012: £72.4m); profit before tax £49.6m, after one-off transaction-related costs of £22.6m (2012: £60.4m); gross written premium up 16% to £407.2m (2012: £350.2m); group net revenue up 24% to £342.4m (2012: £276.3m); customer numbers up 24% to 1.42m (2012: 1.14m); combined ratio improved at 88.3% (2012: 90.3%).

Chief executive Gary Hoffman says, “2013 was another year of very strong growth for the Group and we have already witnessed two landmarks in 2014 – our equity investment from Goldman Sachs in early January and, in March, we passed the 1.5 million customers mark. This was thanks to record levels of new business sales, improved customer retention and cancellation rates.

“Moving forward, we expect healthy price competition to continue. We have implemented small price increases in the first quarter of this year and we still have strong momentum in growing customer policy numbers and gross written premium.

Channel gets MGA approval

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he Channel Managing Agency Limited has obtained approval from Lloyd’s, the Financial Conduct Authority and the Prudential Regulatory Authority to act as a managing agency at Lloyd’s. The new agency, fully owned by SCOR Global P&C, will manage Lloyd’s syndicate 2015 with effect from 1st April.

Syndicate 2015 is 100% backed by SCOR Group corporate capital through SCOR Underwriting Limited.

The syndicate started-up on 1st January 2011, underwriting a range of property, casualty and marine insurance classes. There are now five divisions within the syndicate and its capacity has increased from £75m in 2011 to £155m in 2014. The syndicate was previously managed by Asta Managing Agency.

Biomedical and life sciences insurance.

New commercial package policy

See more at BIBA - stand B20

WE SEE WHAT OTHERS MISS MAY 2014 insurancepeople 21

insurancepeople

News

Tribunal fees “increase costs” for taxpayers and employers E

mployers and the taxpayer may not be seeing the savings they were promised in relation to employment claims following the introduction of fees, according to legal expenses insurer ARAG. Despite an initial fall in the volume of Tribunal applications since fees were introduced last July, the complexity of cases and therefore duration and costs are eroding anticipated cost savings.

“Whilst many tenuous, malicious or spurious claims are deterred by up-front fees”, comments ARAG

head of underwriting and marketing David Haynes, “the remainder are being up-scaled to ensure awards will cover costs. The latest tribunal statistics show a 40% increase in complaints per application from an average of 1.8 to 2.5 (during 2013). This is the unintended result of introducing fees that can run to several thousand pounds for something like an unfair dismissal case that goes all the way to an appeal hearing.”

ARAG says that the fee system itself does not give individuals new rights to

bring more complex cases as such, but has the potential to incentivise feepaying individuals to raise grievances that would not formerly have been included to inflate their ET claim as one set of fees applies irrespective of the number of complaints raised.

“There are definite signs of a more aggressive approach by individuals wishing to strengthen their chance of recovering fees by adding additional grounds for complaint” adds Mr Haynes. “If the new system simply leads to an increase in the complexity of

David Haynes

claims, it will certainly not fulfil its stated aim of reducing costs and, in fact, may considerably raise the total cost to both taxpayer and employer.”

BIBA appoints E S Risks for engineering cover

FCA discusses initial claims handling findings

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A

IBA has appointed E S Risks to provide its new Engineering and Inspections Scheme, and the company will also offer a nationwide programme of education and training covering this area of insurance. E S Risks has chosen RSA as its preferred partner for the scheme.

A service guarantee is included, and clients will also have access to an online report for all plant, machinery and installations requiring inspection.

There will be online and telephone-based technical support across

22 insurancepeople MAY 2014

all engineering business lines for BIBA members, with online quote-and-bind facilities for those requiring it.

Steve Dutton, UK business development manager at E S Risks, comments, “Engineering insurance and inspection forms a fundamental part of most if not all commercial insurance programmes. The cover and service deliverables on offer will ensure that BIBA members will have access to the best possible protection for their clients in an ever increasing regulatory world.”

t a seminar in London on April 9th the FCA discussed with insurers, trade bodies and consumer groups its initial findings from its thematic review of household and travel insurance claims handling.

The review was designed “ … to assess the extent to which insurers put consumers making claims at the heart of their businesses”.

Based on its work so far, the FCA is not proposing any new requirements or rule changes for firms in this area.

The FCA found that 65% of household insurance customers were satisfied

with the way their claim had been handled; and 64% of travel insurance claimants were satisfied. Those with successful claims had a much higher satisfaction rate.

The FCA has uncovered no evidence of systematic attempts by firms to deny valid claims or to squeeze settlement costs. Nor did it find evidence of deliberate attempts to slow claims down, with any delays instead being the result of poor processes or management.

The authority will be finalising its findings and publishing its full report in May.

Aviva 2014 Broker Global reinsurer Community Fund capital US$540bn A

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he latest Aon Benfield Aggregate report, analysing the financial results of the world's leading reinsurers, says that global reinsurer capital totalled USD540 billion at December 31, 2013, an increase of 7% over the year.

This calculation is a broad measure of capital available for insurers to trade risk with and includes both traditional and alternative forms of reinsurance capital.

The firm's latest study found that capital reported by the ABA group of 31 leading reinsurers increased by 6% to USD337 billion, driven primarily by USD34 billion of net income. Repatriation of equity capital in the form of dividends and share buybacks rose by 15% to USD20 billion, partly reflecting the increasing engagement of third party capital.

Mike Van Slooten, head of Aon Benfield’s International Market Analysis team, said: "Reinsurers have reported resilient results in an increasingly competitive marketplace. Most are now adapting their business models to accommodate the increasing availability of lower cost capital, thereby enhancing both their risk transfer capabilities and their offering to clients.

We expect capital management activity to accelerate, as the advantages become more apparent.”

viva has announced the launch of its Broker Community Fund for 2014, where brokers are invited to bid for funds to support worthwhile causes or charities in their local community.

Now in its fourth year, Aviva’s Broker Community Fund is looking to offer financial support to 40 different charities and new for this year – in addition to offering financial support Aviva launches ‘More ways to make a Difference’, where brokers can request practical help for their charity.

Phil Bayles, managing director, broker and SME at Aviva, says, “I am delighted to confirm that our 2014 competition is now open. Since launching the competition four years ago we’ve given away almost £300,000 to 58 incredible charitable causes.

“This year we’ll be awarding more winners than ever before and donating a total prize fund of £100,000 to causes important to our brokers.”

Brokers interested in more information should visit http://broker.aviva.co.uk/community-fund/

AXA shop product on PowerPlace

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XA Commercial Lines and Personal Intermediary has launched its shop product on the PowerPlace platform.

AXA Retailers marks AXA’s fifth addition to the online marketplace (they are currently trading with Tradesmen and Professionals, Landlords, and Directors and Officers) and they plan to add another product in the coming months.

Jason Bridgman, head of e-commerce – commercial, at AXA, says, “Brokers’ appetite for online trading is reaching an all-time high and still continues to grow. We are committed to the development of AXA’s products on PowerPlace and strive to satisfy this demand with the addition of more products in the future.”

MAY 2014 insurancepeople 23

insurancepeople

News

Insurers struggle to manage “business critical information” I

nformation management company EDM Group has issued a report on its new research among more than 150 senior insurance executives and intermediaries. They were asked for their views on how good insurers are at managing and accessing business critical information and how well they have coped with new legislation. EDM says that key findings were: ●

A significant majority of insurance professionals believe insurers are still struggling to effectively manage and access business critical information

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86% of senior insurance professionals canvassed by EDM said insurers are still faced with a number of barriers that hinder their ability to effectively access their data/ information

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81% blamed poor IT infrastructures and legacy systems for insurers struggling to access data effectively, with 17%

citing a lack of digitisation and the same number (17%) blaming a proliferation of customer data feeds and communication channels ●

Overall, a quarter (26%) of respondents said that the quality of information held by insurance companies is currently either poor or very poor. Only 1% said the quality of data and information was ‘excellent’, with onefifth (21%) believing it to be ‘good’

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Only a third (33%) of respondents to the EDM survey said insurers had coped well with the raft of new legislation in recent years, while over two-fifths (43%) said poor information and data management had specifically had a very significant or significant impact on the ability of insurers to manage/ implement the huge amounts of new regulation they have had to face in recent years.

Consumers unwittingly sharing personal data

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n conjunction with The Leadership Factor, SSP research has shown that consumers are sharing personal information without being aware that it is being made widely available.

Consumers were asked, “What personal information would you be

24 insurancepeople MAY 2014

prepared to share if you could get lower insurance premiums as a result?”

Over half of respondents (59%) were prepared to share publicly available information and/or information held by the insurance company or related organisations such as the DVLA. This rose to

66% for information provided by the individual themselves in relation to an insurance policy quote.

Only 28% of consumers would be prepared to share socio/geolocational information, and the same percentage would only consider sharing information they have specifically authorised to be used.

The case for telematics as a mainstream service is supported by 61% of people, indicating they are prepared to share their personal driving behaviour – a similar percentage to those prepared to share publicly available data.

Pam Wilde, marketing director for SSP, says,

“SSP has a unique position in the industry and has full visibility across the entire insurance value chain – from the consumer through to the carrier. This means we are informed and can link together the different elements of the chain – for example between insurers and brokers – to provide insight for our customers.

No other provider is able to see what we can, so they risk making decisions without seeing the full landscape. This research enables organisations further up the value chain to understand their ultimate customers’ view of data sharing, which will inform their own organisation’s data strategy.”

Aon reports airline claims exceed premium

Lorega quote and buy for smaller brokers

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on Risk Solutions' “Airline Insurance Market Outlook 2014” says that total global lead hull and liability premium for 2013/14 airline placements was around USD$1.4 billion, but this was outweighed by the estimated USD$1.5 billion of claims for the year.

Despite this imbalance, the report suggests that prices are likely to continue to fall in the short term because the losses in 2013 were relatively few in number and involved the lowest number of fatalities since 1995. As a result, insurance capacity continues to be attracted to the sector. Competition is likely to remain healthy for 2014/15 insurance programmes, says Aon. The company's aviation and space practice leader, Mike Smith, comments, “While it may seem like a contradiction that exposures are rising at the same time as insurance prices are falling, the introduction of the new generation aircraft a couple of years ago means that airlines of all sizes now have access to relatively modern fleet replacement options. These aircraft are more expensive but represent a risk reduction because they are safer, and prices in the insurance market reflect this. At the same time, the aviation industry continues to improve technology and working practices, again driving down the price of risk.”

New Brokerslink member in Mexico

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orldwide broker network Brokerslink has entered the Monterrey corporate market in Mexico with the addition of broker AER as a member.

Brokerslink says that Monterrey is a key corporate market in Mexico and one of the most importance business cities in Latin America as the headquarters for a large number of multinationals are based in the region. In addition, over the past decade Mexico's technology industry, a substantial part of which is located in the north of Mexico and Monterrey, has grown at triple the average global rate.

orega has launched its online quote and buy facility, following requests from brokers. Accessible via lorega.com, it enables brokers to access Lorega's range of commercial products for their SME clients. Brokers can also obtain quotes for complex commercial risks online through a referral tool.

The full range of Lorega household loss recovery insurance products will be made available via quote and buy shortly.

Lee Bennett, associate director of Lorega says,

“While smaller brokers are increasingly recommending loss recovery insurance to their clients, those not using a platform on which our products are available found placing risks difficult.

“The launch of Lorega quote and buy has eliminated this drawback and creates an intuitive and efficient way to enable brokers of all sizes to work with our independent experts to both deliver a high quality claims support service and demonstrate their worth at the client’s time of acute need.”

New retail product from LV=

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V= Broker is launching a new retail insurance product, which offers cover for a wide range of shops as part of its strategy to grow in the SME market over the coming year.

The product offers flexible cover suitable for smaller independent shops through to larger chains for risks of up to £50 million. It offers £500,000 worth of business interruption protection over 24 months as standard, as well as legal expenses cover, including cover for disputes as standard.

There is also a range of optional extras, such as accidental damage cover for buildings and contents, subsidence cover and the option to increase indemnity limits on public and products liability.

The product has full cycle EDI functionality and is available on both LV= Broker’s Gateway and Easytrade portals. The product can also be quoted on over the phone via the commercial underwriting team.

Kevan Aubrey, head of commercial distribution at LV= Broker, says, “As the economy has picked up, the outlook for the retail sector is looking more positive. It is currently estimated to be worth around £320 billion, but with government-backed incentives to reignite local high streets, we see potential for this market to grow over the coming year. There is a real opportunity for brokers here and we have designed this new product to be very flexible and easy to trade with a wide range of retail outlets.”

MAY 2014 insurancepeople 25

On the move Who’s going where?

Fusion

Jeff Carr

Fusion Contact Centre Services appoints Diane Wright as contact centre manager. With 25 years’ management experience, she previously worked at Laser UK and has also worked at ATS Euromaster and RAC Motoring.

QBE QBE appoints Jeff Carr as head of client engagement and multinational. Joining from ACE where he was head of client management for UK & Ireland and part of the global client executive team, he was previously an account relationship manager and manager for product recall at AIG, director of international underwriting at Europ Assistance, and head of personal lines broking at AA Insurance and a senior business analyst at RSA.

Andrew McDonald

Tim Finch

Argo

Diane Wright

DLA Piper DLA Piper appoints Vanessa Leigh as a legal director in their aviation practice. She was previously a partner at Gates and Partners.

Mike Hornby

GAB Robins Gab Robins UK appoints Andrew McDonald as a construction and engineering senior adjuster. With over 30 years’ experience, he returns to GAB Robins after nine months at Crawford & Company.

Mike Hornby is appointed as a construction and engineering senior adjuster. He has over 20 years’ experience and has previously worked at Cunningham Lindsey and Crawford & Company.

26 insurancepeople MAY 2014

Greg Walters

Argo International appoints Greg Walters as class underwriter for the onshore energy account. He joins from Liberty International where he was senior underwriter and previously worked at QBE’s O’Farrell Syndicate, at Zurich Global Energy as a senior energy underwriter, and at JLT Risk Solutions.

Tim Finch joins as an underwriter in the D&O team from Nexus Financial Products where he was senior financial lines underwriter and was previously a D&O underwriter at Brit Insurance, and also worked at RSA.

BIBA The British Insurance Brokers’ Association appoints Tim Ryan as chairman of the networks and managing general agents’ advisory board.

He is currently managing director of Ryan Insurance Group.

George Nicol is appointed as chairman of the BIBA motor panel. He is currently branch manager at Gallagher Bassett.

Barbican Barbican Insurance appoints Chris White as underwriting manager of their energy division. He was previously head of the global energy practice at Chaucer and before that worked at Gorsuch Syndicate (part of Cuthbert Heath agency) and St Katherine Insurance.

Danny Maleary

Capita Capita Insurance Services appoints Danny Maleary as director of business development.

Having spent the last two years running his own company, JTC Business Development Solutions, he was previously business development manager at Randall & Quilter Investment Holdings and has held senior roles at Axiom Consulting (now CTIS) and Aon.

In association with

VEHICLE SERVICES Collection, storage and sales

Towergate

Tempcover

Plum

Towergate Insurance appoints Declan Hunt as IT director for the underwriting division. He joins from G4S where he was IT director for cash solutions and previously held senior management roles at Cap Gemini Ernst & Young and Olivetti and AGS Consulting.

Short term motor specialist Tempcover appoints Neil Harris as underwriting director. He joins from Towergate where he was underwriting director – specialist motor, and was private car underwriting manager at Highway before that.

Plum Underwriting appoints Toby Daley as a board director. He joins from Hiscox where he was underwriting manager and head of underwriting, and previously worked at Royal and Economic Insurance Company Group.

Declan Hunt

Pegasystems

Bluefin

Pro

Bluefin appoints Adrian Potter as branch manager of its Bournemouth office. With 16 years’ experience, he joins from Deacon Insurance where he was sales manager and was previously an account executive at Aon and sales manager at HSBC Insurance Brokers.

Paul Drake is appointed head of underwriting. He joins from Thistle Insurance Services where he was chief underwriting officer, was previously a founding director of aQmen Ltd, a founding director of the Managing General Agents Association and has held roles at XL Insurance and RJ Kiln.

Pro Insurance Solutions appoints Artur Niemczewski as CEO. He joins from Garwyn and was previously managing director of Xchanging Broking Services, chief executive of multi-national division at Willis, director of strategy at AXA Insurance and strategy consultant at McKinsey & Company.

Martyn Kyle ex head of insurance practice for SAS has moved to Pegasystems as an account lead for insurance. Prior to joining Pega, Martyn worked with major insurers on clients such as SAP, SunGard and Misys.

Allianz Allianz Global Assistance appoints Jenny Taylor as corporate and travel account manager.

She joins from AXA Travel Insurance Group.

Jenny Taylor

Toby Daley

Cooper Gay

Adrian Potter

FOIL The Forum of Insurance Lawyers appoints Sean McGahan as a Northern Ireland representative to the executive committee. He is currently head of litigation risk at McKinty & Wright.

Leonard Edgar is appointed as a Northern Ireland representative to the executive committee.

He is currently a partner at John McKee & Son Solicitors.

Paul Drake

AXA AXA appoints Paul Wouldham as sales manager for Reading and Maidstone branches.

Previously branch sales manager at Maidstone, he has also been an account manager and a new business underwriter at Allianz.

Ruth Owen is appointed as branch sales manager at the Maidstone branch. She joins from NIG.

Cooper Gay Swett & Crawford appoints Roanne Gibbs as human resources director for Europe, Middle East and Asia. Previously HR director with Cooper Gay UK, she has also worked at Assicurazioni Generali as HR & training officer and at Allianz Cornhill as HR adviser.

Roanne Gibbs MAY 2014 insurancepeople 27

On the Road

by Steve White

Watch out for flying sheds!

in association with:

Steve White, BIBA chief executive, is a fully-fledged member of the insurance ‘on the road’ fraternity, and takes this guest slot before setting off for Manchester for the 2014 BIBA Conference

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s a former insurance company inspector myself (as business developers used to be called) I’m a regular reader of this column and can empathise with many of the tales that get recorded for posterity.

I first went out on the road in October 1987 when I worked at Orion Insurance based in Folkestone. I was a trainee inspector in the East Kent area, initially given a pool car.

And my baptism of fire came a lot sooner than anyone could predict, because just a few days later BBC weatherman Michael Fish’s nemesis came when he failed to warn anyone of the imminent Great Storm of 1987.

That very morning after the main force of the hurricane had passed, it was still very windy, but with no previous bad-weather driving experience to go by, I set out from Folkestone to report in to the Orion sales office in Croydon. It turned out to be an eye-opening experience for a novice driver, as I then was - I’d only just passed my driving test!

28 insurancepeople MAY 2014

It was still very windy, and the journey did seem to involve avoiding many obstacles; driving past obstructions on the wrong side of the road; and at one point being overtaken by several flying garden sheds!

(That’s no exaggeration, I promise).

When I arrived in Croydon I found staff who actually lived nearby ringing in to say they couldn’t make it. “You have to be in the office – our customers need us”, I told them, naturally citing my own supreme example to good effect.

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he Editor asked me if the moment I learned I was going out on the road filled me with horror or joy. It was definitely joyful anticipation.

It’s what I’d put my hand up to do.

I was 28 at the time, and I didn’t drive. Like most youths of 17, I took driving lessons, but never seemed to satisfy the driving test examiners. I almost gave up on the idea, but the trainee inspector job came up at Orion, and I asked the agency manager, “If I get myself a driving licence, could I have that job?” Yes. So I got a driving licence within six weeks, and focused my mind to get through the test. On the day I passed, I drove into the Orion car park, went to my desk, and I got a phone call from the agency manager.

“Was that you I’ve just seen driving into the car park?

Yes? Right! My office in ten minutes!”

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Steve White

y very first company car was a pool vehicle - but the first that I could really call my own was a Ford Orion. That’s what Orion Insurance did in those days. And of course, the cars were replaced around once a year because inspectors quickly clocked up the miles.

A proud moment for my

parents (to impress their neighbours) was when a brand new Ford Escort was delivered to their driveway for safekeeping two days before it could be legally driven owing to the new registration deadline.

Apart from my initiation in the 1987 storm as previously related, the most unexpected moment I had was when using a pool car – a Vauxhall Cavalier which I simply couldn’t get into reverse. There was nothing wrong with the gearbox, it just used an unusual gear shift pattern which was impossible to fathom without the handbook or someone around to tell you the secret. Unfortunately I hadn’t had the opportunity to obtain either, so there was a moment when all I could do was to put it into neutral, get out, and push!

Today, my ‘on the road activity’ remains highly active, with planes and trains thrown in. Space doesn’t allow me to say more than, “Never go to Brussels airport on a Belgian bank holiday weekend.”

Perhaps on another occasion, Mr Editor?

Understanding the things that are important to you and your customers can only be achieved by listening and getting closer to you - our brokers. This means that we can provide even more innovative and exible insurance solutions designed to help your business grow and increase proďŹ tability.

Our executive range of high net worth and commercial products are designed to the highest standards, backed up with excellent service; as evidenced by the many industry awards we have recently won.

Our immediate access to decision makers and our ongoing commitment to exceptional customer service, competitive pricing and fast, fair claims settlement makes Sterling a company that truly makes a difference in the marketplace.

To ďŹ nd out more about how Sterling can deliver great service to you, visit us at BIBA on 14th and 15th May where we will be on stand D79 or contact our Broker Operations Manager, Mark Arends via the details below.

T: 0845 271 1300 E: marends@sterlinginsurancegroup.com www.sterlinginsurancegroup.com Stering Insurance Company Limited and Sterling Life Limited are incorporated and registered in England and Wales under numbers 498605 and 911235 respectively. They are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. They are covered by the FInancial Services Compensation Scheme and the Financial Ombudsman Service.