Our first major event of the year, BrokerFest 2023 took place on Thursday 23 February at etc.venues St Paul’s.
With more than 30 speakers across 13 plenary and specialist streamed sessions, the event brought the industry together for a day jam-packed with challenging debate and expert insight across a range of themes and hot topics. Check out the highlights here and to be the first in line to hear about next year’s event, register your interest below.
Welcome to BrokerFest 2023
Welcome speech from the Chair - Katie Scott, editor, Insurance Times
What can brokers expect from the FCA and regulatory landscape in 2023?
This insightful opener session will feature Matt Brewis, director of insurance and conduct specialists at the FCA, and Michael Sicsic, managing partner of Sicsic Advisory. The session will cover the FCA’s priorities for 2023 – particularly flagging items concerning the broker community – how the regulator wants to continue working with brokers and where the FCA feels brokers need to step up. The duo will also discuss the upcoming Consumer Duty, how preparations are faring ahead of the implementation date and what else brokers can expect from the regulator this year in terms of admin, potential policy areas or regulatory tweaks.
Matt Brewis, director of insurance, FCA
Michael Sicsic, managing partner, Sicsic Advisory
Chaired by: Katie Scott, editor, Insurance Times
The insurance industry on the road to sustainability
How can the insurance industry transition to support a more sustainable future and how can sustainability drive value for businesses? This session will look at how insurers and brokers can embrace best practice to become more sustainable. Furthermore, it will delve into the steps organisations need to take to understand their environmental impact. Panellists will also debate how insurers and brokers can play an active role in helping their clients become more sustainable and transition to net zero carbon emissions.James Alexander, environmental practice leader, senior vice president, Lockton Companies LLP
Simon Burckitt, sustainability lead, Aviva
Chaired by: Katie Scott, editor, Insurance Times
How to help commercial clients deal with the impact of recession and high inflation
Last year, the UK experienced record levels of inflation – including a 40-year high according to the Office for National Statistics. Fuel and energy prices have been on the rise too, impacting business operations across the UK. In response to this financial environment, many consumers may opt to reduce their spending, which can have a knock-on impact on business profits. How can brokers support their commercial clients amid this economic turmoil?
Mark Cliff, chairman, Avid Insurance
Nick Smallcorn, director (london), Clear Insurance Management
Chaired by: Katie Scott, editor, Insurance Times
Streams
Finding the right MGA for specialist cover
The MGA market is a fast-growing sector of UKGI, providing underwriting expertise and high levels of service to brokers through specialist products and schemes. But with so many new businesses entering the market, how can brokers find the right MGA partner for their business? Insurance DataLab co-founder and former Insurance Times insight editor Matt Scott will look to answer this question by discussing the results of the latest Insurance Times Five Star Rating Report: MGA market, as well as pulling on Insurance DataLab’s own MGA performance ratings from its inaugural MGA performance report 2022. He will then lead a panel discussion featuring industry experts to talk through the future opportunities in the MGA sector.
Michael Keating, chief executive officer, Managing General Agents’ Association
Matt Scott, co-founder, Insurance DataLab
How parametric products can help insure flood risks
According to MGA FloodFlash, 40% of SMEs close after a catastrophic flooding event, while 69% of businesses are concerned with the risk of flooding on UK supplies. This session will outline the scale of flooding-related problems in the UK and flag what steps brokers can take to ensure commercial clients are covered for this risk.
Nyasha Kuwana, head of product, FloodFlash
What’s happening in the high net worth market?
In this session, panellists will talk through the trends hitting the high net worth (HNW) insurance market today, including how the cost of living crisis could be impacting these clients. The panellists will also highlight the key ways brokers can serve this market in today’s economic climate, as well as identify other driving forces influencing the HNW sector.
Anthony Casali, private client manager, north west london division, Clear Insurance Management
Paul Huntley, managing director, private clients, PIB Insurance Brokers
The role of appointed representative networks within the broker market
What is the role of AR-based networks within the broker market? This session will discuss how these types of networks can benefit brokers, whether this model is building momentum and why they may be seen as a popular option for brokers. Panellists will also talk through the FCA’s new rules on the oversight and management of ARs, which were introduced in August 2022, highlighting the possible effects of this regulation
Lea Cheesbrough, managing director, Movo Partnership
John Dunn, managing director, Brokerbility
Roger Gaunt, managing director, Gauntlet Group
Evolution of broker networks: Using data and technology to better connect brokers and insurers
Following Insurance Times’ exclusive article revealing Bravo Networks’ new data and tech-based proposition – called Bravo Accelerator – Ardonagh Advisory’s chief commercial officer, Phil Bayles, will explain how the network group has sought to evolve the support typically provided by broker networks to give small and medium-sized brokers better buying power with insurers.
Phil Bayles, chief commercial officer, Ardonagh Advisory
The value of Premium Finance to all customers
In this session, the leading provider of insurance premium finance will take you through the importance of offering finance to 100% of your customers, the benefit of finance for you and your customers and the support we provide
Max Eldred, partner learning & development lead, Premium Credit
Vinnie Vasudevan, senior account manager – south, sales IPF, Premium Credit
The insurtechs making a real difference to insurers and brokers in 2023
Greg Brown, partner at business management consultancy Oxbow Partners, will open the insurtech stream by discussing the results of the first Insurance Times/Oxbow Partners Insurtech 50 report, which will be published in early March 2023. Oxbow Partners has been tracking the insurtech scene since 2015 and has seen various trends come and go. The Insurtech 50 report reveals the supplier insurtechs – companies that support insurers and brokers rather than sell insurance themselves – that are having an impact in the UK retail general insurance market today. The results are drawn from Oxbow Partners’ database of over 4,000 technology vendors, providing a unique insight into the insurtechs to watch.
Greg Brown, partner, Oxbow Partner
Challenges and opportunities for new insurtech brokers
The last few years have been particularly challenging for the Insurtech sector: a global pandemic, war, recession and inflation all impacted the industry. Recently there has also been a decrease in funding, but an increase in regulation. This panel will discuss some of the challenges and opportunities facing startup insurtech brokers.
Peter Clarke, managing director, Insurercore
Ed Gaze, ceo, IR
Jana Kejvalova, director, Suited
Richard Tomlinson, managing director, Percayso Inform
Ignition: Accelerating innovation in insurance broking
Some of Ignite’s most exciting clients – Yoga Insure, Scratch and Patch, Wrapper – were startup brokers just a few years ago. With that in mind, Ignite has launched Ignition - a startup accelerator for new brokers, MGAs, or established brokers looking to launch a new brand. As part of this programme, Ignite will provide support and funding for a select few startups, helping with technology, compliance, regulatory umbrellas, capacity, data enrichment, payments and more. Ignite’s target for 2023 is to take on three to four new startups, with at least half of these having female founders.
Toby MacLachlan, ceo, Ignite
Economic and political turmoil: Industry impact so far and future next steps
In 2022, the UK had three prime ministers and faced one of the biggest cost of living events in generations. Inflation rates, energy bills and fuel prices all escalated, affecting both businesses and households. Financial stress, therefore, may cause consumers and business owners to review their insurance provision as Brits look for ways to cut costs. Amid this backdrop and the multitude of challenges that it poses, how can the insurance industry respond to ensure clients – and their bottom lines - are protected?
Catherine Carey, head of consumer strategy, Consumer Intelligence
Huw Evans, partner, KPMG UK
Philip Williams, chief operating officer, Clear Group
Sponsorship opportunities can be tailored to suit your particular business objectives; from raising brand awareness, to product launches to building a reputation as a thought leader. To find out more about the benefits of sponsorship and how to get involved with next year’s event contact:
Aisha Roberts
Head of Commercial
020 7618 3408
aisha.roberts@insurancetimes.co.uk
Chris Pottinger
Commercial Development manager
07809 123446
chris.pottinger@insurancetimes.co.uk
Euismod, quis laoreet neque imperdiet. Proin ornare, orci eu mattis dignissim, mi mauris consectetur dui, at faucibus libero justo a dui. Sed facilisis pellentesque quam et blandit.
Euismod, quis laoreet neque imperdiet. Proin ornare, orci eu mattis dignissim, mi mauris consectetur dui, at faucibus libero justo a dui. Sed facilisis pellentesque quam et blandit.