The word from LIIBA for you;
Broker representative body LIIBA has confirmed that its research paper into the value of commercial broking to the economy will be published this autumn before a major insurance conference in the US. The report, to be called The Innovation Imperative: Why brokers matter more than ever, will be ready before the Council of Insurance Agents and Brokers holds its Insurance Leadership Forum in October in Colorado Springs.
The research project will objectively evaluate the views of brokers, insurers and clients around the world in a first attempt to highlight the value of commercial broking to the economy.
The initiative was announced in January in LIIBA’s 2025 agenda. Industry specialist consultancies Gracechurch and Trimstone Partners have been appointed to conduct the research, analyse evidence and compile the report, including recommendations. The report will be designed by Brandex and made available on the Insurindex platform (theinsurindex.com) as well as being publicised widely across social media, trade and financial press channels.
Christopher Croft, CEO of LIIBA, said: “It’s our belief that this study will do for London’s brokers what the London Matters study has done for the London market as a whole. It will demonstrate precisely the value that brokers create in a format that government, regulators and the wider financial community can understand.
“For too long, London’s brokers have been the victim of all sorts of misunderstandings and misinterpretations. It’s been too easy to label brokers as purely a distribution cost. This study will change that. 2025 must be the year that we bring governments and regulators around the world to fully appreciate the value insurance intermediation delivers to the global economy.”
The study will contain both quantitative and qualitative data and feature interviews with some major names from the international broking community.
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