It was a steady start today as many recovered from a proper night out in Manchester, and your Ed knows how those can work out from his days at Carole Nash.
Still, the mood here today was very upbeat, Apprentice-like, buzzing with plenty of energy about the insurance future. Once the coffee had kicked in…
CRAWFORD’S EARLY MORNING SNIFTER
No, not what you’re thinking at all, but a Turmeric drink from the Crawford stand. These came in different flavours such as beetroot or ginger. Your IE Ed had no hangover to cure, but downed a Vitamin C enhanced shot anyway to get the day going.
PEACCCE OUT BRO
James York, yes he of Twitter fame, was on the Peacce stand with Richard, spreading the word and making new connections. The Peaccce concept is a clever mix of consumer reviews and comparison site segmentability – is that a word? Anyway, you can drill down the sections to search for top rated providers.
So how was the repsonse to the Peaccce network?
“Yesterday was really busy for us, today is also looking good. The show is a great opportunity for us to get the message across and meet people face-to-face. There was a lots of interest on the opening day in particular, the industry is definitely coming out of the pandemic very strong on innovation, new products and partnerships.”
HUG A HOODIE OR HUG A ROBOT?
You have to admire HugHub who had a robot on their stand, doing uncanny impressions of Clint Eastwood. Great way to start conversations, which is what this software company is all about.
“We have had the chance at BIBA to meet insurance brokers and other people in the industry and learn so much,” said a spokesperson (not a robot), “it’s great to see lots of brokers using technology to create new products and refine existing ones.”
Over on the Trakm8 stand the team were finding that the end of lockdowns has spurred on a willingness to invest.
“People are definitely keen to try new ideas, new products now. The show feels like its busier now than it was in 2019 before the pandemic. There’s a lot of positive thinking going on. We have a demo screen on the stand so we’ve been showing how the vehicle data tech works.
Modern Telematics isn’t just about speed and location, you can share data on servicing or fault codes too, so that gives a broker the chance to alert the customer that there could be a fault with the car. You can really build brand loyalty with technology that helps keep customers safe.”
Fair point we say.
AXA PARTNERS: KEEN TO LEARN, GROW AND COLLABORATE
Another super busy day for AXA, reports Kelly Ward, noting that brokers are `the innovators, the people bringing the new ideas to us.’
One trend that AXA has noticed is that working from home has helped kickstart so many new businesses and both insurers and brokers can see that a hybrid home/business policy is the best way forward for many consumers who have an online venture on the go.
Of course cyber risks are evolving, so how can insurance brokers keep pace with that?
“Brokers and insurers shouldn’t be afraid of saying we have a lot to learn about cyber risks,” notes Kelly, “it’s a good thing that market changes are driving new ideas, prompting new products. We can’t stay still, we have to adapt. Every broker can differentiate their offer by selling cover that is truly the best fit for someone’s lifestyle, or their business.”
Speaking to Coverdrone, who were at BIBA as first timers, there was a sense that they had made the most of the event.
“We signed up 6 brokers before the event, as we announced a deal with BIBA, and we must have spoken to about 35-40 brokers here today and yesterday. The interest ranges from just covering a drone that a friend or family memeber has bought, to a full scale Commercial drone use service on risk pricing, claims etc.”
IE is always keen to learn about drone tech and how it can assess risk, so here’s a nugget of info for you rural brokers; did you know that a laser camera can be attached to a drone, so that farmers can see under the soil in detail? That means you know when it’s time to plant, how wet the ground is, plus when it’s time to lift a crop – all by drone. No big red diesel tractor required!
Amazing what you learn at BIBA.
CARPENTERS ARE LIKING THE HUMAN TOUCH
Legal services are sometimes seen as a bit of a bolt-on for insurance brokers, MGAs and so on. But hey, they’re people too and don’t just want to be on the sidelines. Carpenters Group are one of the friendliest around and keen to make connections in the insurance sector.
Here’s some feedback on BIBA from Carpenters Group Director Donna Scully;
“The best thing has to be the human interaction again after all the isolation of the pandemic. Great to see familiar faces, talk and put the insurance world to rights again as a industry.
Great to see all the effort everybody made with their stands and to see the huge effort people made to get there and participate. I think as a industry, we needed it! Well done BIBA and everybody involved in making it happen. It was excellent.”
FIRST TIME FOR ALTUS
Altus Consulting are another first time company at BIBA and the feedback there was positive and keen to learn. Matt Carter, Practice Director of Altus’ Specialty Markets team told IE;
“The interesting thing about doing BIBA is that for all the technology being deployed across the market you can see that this is still an industry where business is being done with a handshake,” commented their spokesperson, adding;
“The other thing we have learned over two days of conversations is that brokers and other companies within the different insurance sectors, want different types of insights and analysis. Everyone’s time is valuable, so we intend to develop our expertise and deliver the right information, just when people need it.”
So that’s BIBA for another year. Big thank you to everyone who took the time to chat with IE magazine!