A FRESH PERSPECTIVE

The time has arrived for the 2023 NIBA Convention, our first full Convention since 2019. While The Star on the Gold Coast may be a familiar favourite –it’s been the venue for many successful previous Conventions, with some calling it the ‘spiritual home’ of the NIBA Convention – this year’s theme “Re-Imagine –Think Differently” promises to look at things in a different way. Much has changed since 2019, let alone from the very first NIBA Convention at the Chevron on the Gold Coast, way back in 1983.

While there seems to be a lot more regulatory certainty, which may be a first, there is still uncertainty in many areas. Changing weather patterns have delivered a multitude of natural disasters, and the focus on government and industry response has increased dramatically. NIBA met with representatives from the National Emergency Management Agency recently, to discuss the role NIBA and brokers can play in providing constructive insights into risk mitigation and emergency response. Brokers are uniquely positioned to provide a client perspective as well as the perspective of how different insurers respond. We will explore this in more detail at the Convention in our morning presentation from Andrew Hall from the Insurance Council of Australia, followed by a panel session including representatives from NEMA, Consumer Groups, the ICA and NIBA.

Also, on day one of the Convention, we will look at the evolving world of technology. It’s fair to say that the emergence of the newer versions of ChatGPT has accelerated the focus on technology, artificial intelligence and how they integrate into our daily lives. While most of us have some kind of smart speaker or hub in our home, integrating artificial intelligence into these devices will take the smart home ecosystem to a new level. I saw this first-hand the other day when meeting with our guest presenter and opening keynote speaker Dr Jordan Nguyen, who has been involved in this field for many years. While I don’t want to spoil the surprise, Jordan will take the word “hey” to a new level.

Another area that has everyone concerned is regarding where the next generation of insurance brokers might be coming from. As I have mentioned before, we have a committee of passionate volunteers who have been working under the guidance of Cameron Sheild from Lockton, and I will be delighted to share the first phase of our goal to “Insure your Future” – an initiative that brings to life the career of an insurance broker and why school leavers and graduates should consider broking as a career. It’s a small step, but hopefully the beginning of a broader program that we can all participate in and help encourage more young people into our profession.

Given we are encouraging more young people to enter the profession, and the focus on technology solutions, it

ANNUAL REPORT 2022-23