Artificial Intelligence can help Insurance Brokers, NOT replace them

 

 

Commercial Insurance Brokers are being advised to act now to bring in new skills to meet the future needs of their clients or face going out of business.

 

The warning comes in a Chartered Insurance Institute report, “The Future of Commercial Insurance Broking.” Produced by PKF Littlejohn and Konsileo, a broking start-up, the report looks at today’s insurance broking services for SMEs and predicts how it will look in 10 years’ time. It shows how people working within the sector will need to adapt to succeed in 2027.

Read more

Attracting the top Insurance talent through your interview process

It’s easy to assume that an interviewer always has the upper hand during the recruitment process, but for those insurance firms looking to attract the best talent, it’s very much a two-way process. Firms need to promote their brand effectively and project the right image when interviewing candidates, if they want to win over the best applicants for the job.

Read more

10 Tips for building a successful Insurance sales team

A successful sales team is the lifeblood of any business and insurance is no different. If you want your business to grow and thrive then you need new business to keep rolling in. Building an insurance sales team that can deliver consistently on new business can be tricky to achieve and it is no surprise that many managers struggle to come up with a winning strategy.

Read more

Key Questions to Impress at your Insurance Interview

You know it’s coming but the ‘have you got any questions?’ finale to most interviews still leaves some candidates in the insurance industry floundering. This can be a major mistake and may leave prospective employers with a poor final impression. Instead, you should think about showing off your knowledge, insight and interest by asking a question based on at least one of the following seven impressive interview question types.

Read more

Blockchain Technology can provide great opportunity for the Insurance Industry

 

 

The insurance sector looks set to follow the finance industry and benefit from distributed ledger technology, such as blockchain. Insurance industry experts believe that this new technology will drive down costs even further than it has done in banking.

The adoption of new technology is being driven by B3i, a collaboration of 15 leading insurance and reinsurance companies who first began investigating how it could be used to enhance efficiency in October 2016. Now, other companies have been invited to become involved in a testing programme.

Read more

10 Interview Mistakes to Avoid to Secure That New Insurance Role

 

A job interview can be more agonising than going to the dentist for a root canal! There is so much at stake, not only the time and energy that have gone into finding the position and applying for it, but also the excitement of discovering a great opening in the insurance industry, fighting through the competition just to be considered, and the fear of missing out on an amazing opportunity because you messed up the interview. Serious job hunters should try to avoid the following common errors when they interview for a position in the demanding world of insurance.

Read more

10 Essentials that ensure your Insurance CV stands out

 

Did you know that an employer will spend an average of 8 seconds looking at your CV? This means that your CV must stand out from the crowd. Here’s some tips on how to do it.

Read more

Impact of the Ogden Rate change on the UK Reinsurance Industry

 

The reinsurance industry was left reeling 12 months ago when the government announced a cut in the Ogden rate from 2.5% to -0.75%.

Almost immediately, insurance providers issued profit warnings and made provision for predicted losses by increasing premium charges, and reinsurance providers were also alarmed.

The immediate consequences included increased costs of hundreds of millions for insurers and an increased indemnity spend. Some reinsurers were hit by a one-off charge in the first six months of 2017. Primary motor insurers were hardest hit, with most of the losses being directly transferred to the reinsurance sector.

Read more

Insurance Trends of 2017

 

So, what were the most important trends in the insurance industry in 2017? We outline some significant points that have emerged.

Read more

UK Cyber Insurance Demand Set To Rise

The recent highly publicised string of cyber attacks on government and commercial sites is having a positive effect on the sale of cyber insurance.

Incidents such as the ransom attack on NHS files and the alleged Russian involvement in the US election and UK Brexit referendum has focused the attention of company directors. Firms are recognising the serious threat to their businesses that cyber attacks may pose. Read more