The traditional way of selling insurance in the City of London is rapidly changing, and to reflect this transformation LIIBA is setting up a new team to help everyone deal with the ever-fluid digital landscape. The London and International Brokers’ Association (LIIBA) is to launch a new committee in 2020, the Broker Placing Committee (BPC). The BPC will replace LIIBA’s Broker Placing and Electronic Development Committee (BPED) and its PPL Broker Panel, which will be wound up at the end of 2019.
An event to mark the contribution made by BPED and the PPL Broker Panel to Lloyd’s brokers will be held at LIIBA’s office on Wednesday 11 December.
The new committee will be chaired by Stuart Blyth, chief business officer for Marsh JLT Specialty FINPRO division.
At launch, the BPC will have instigated two sub-groups: Management Information chaired by Tony Moore of Willis Towers Watsons and Integration chaired by Steve Williams of Marsh, formerly JLT. Mr Williams was the ex-chair of BPED. The sub-groups will work with the BPC and LIIBA’s other market reform committees that focus on facilities, accounting and settlement and claims processes.
The BPC will meet bi-monthly to discuss broker placement activities as they relate to market reforms.
Jackie Hobbs, associate director of LIIBA, said: “This change is really all about bringing together the right people with the right expertise to address the issues Lloyd’s brokers are facing today. Over time, BPED has had to manage a wide range of topics and take on different skill sets. With the Future at Lloyds now high on the agenda, we need to take a more focused approach. The BPC committee and the new sub-groups will be highly specialist in nature with very precise remits.
“We’d also very much like to thank everyone who’s been involved in BPED and the PPL Broker Panel for their efforts in ensuring brokers’ views and needs have been at the fore of the modernisation process.”
The BPC will meet for the first time in January.