Soundbites - brokers speak out
Prominent intermediaries talk to John Garner about their hopes and fears for the years ahead
"The skill set of the broker is far higher than single company employees, and greater recognition of this fact comes at the top of my wish list. Brokers have to sell more than just the basic product. So the success of brokers in any market - personal or commercial - will be directly proportional to their ability to cross-sell other products" - Andrew Jackson, marketing director, Swinton Insurance
- "I don't see the FSA as a challenge. Good brokers have always considered their clients first and should not find regulation too difficult, though it's easier for those of us who went through the IBRC and the General Insurance Standards Council. The biggest drain is paperwork. Now that I'm in a paperless office I have more paper than ever before! Proving that we have done everything right takes as much time as doing the job in the first place" - Ian Mantel, managing director, Manor Insurance
- "I should like to see insurers hold a steady course and not blow hot and cold. It worries me if the market softens and we return to the market cycle scenario" - Richard Sheikh, chairman and chief executive, Camberford Law
- "We've got our 'minded to authorise' letter. It's going to be hard work, but it shows us in a more professional light. We're not in any network; we're confident we can succeed independently" - Kevin Howard, director, Mansbrook Brosche
- "I have doubts as to the effectiveness of the FSA to improve the lot of the consumer. They are adding cost, not value. It's reduced the number of choices and increased costs, which inevitably get passed to the customer. Sadly, the UK seems intent on following EU Directives to the letter while other countries have taken a more relaxed view" - Ian Richens, chief executive, FM Green
- "Regulation is a big issue because it's very difficult to predict the scale and the cost. We're all getting compliant, but the Financial Services Compensation Scheme, which will levy on brokers, could take some fairly serious hits in cases of liquidation or uninsured professional indemnity" - Paul Meehan, managing director, Smart & Cook
- "The broking community needs to deliver more efficiently to its clients and we will undoubtedly see an increase in the use of technology to deliver service and claims management, particularly at the volume end of the market. This will be coupled with an increase in the number of larger clients seeking self-insurance. The winners will be the brokers who can provide their clients high-value advice across a broad range of risks" - John Percy-Davis, international chief executive, Alexander Forbes
- "The adoption of technology to improve business processes is one of the cornerstones of the future success of the industry. Critical to this is the need to improve the transmission of data between clients and markets and the transition to electronic data storage. Initiatives such as Kinnect have the potential to make a positive and lasting impact on the London market" - Bruce Carnegie-Brown, chief executive, Marsh.
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