Broker Expo 2024 Countdown: Neil Peters of Arch Insurance

What two or three things would help constitute a perfect working week for you?

For me, a perfect working week would revolve around a few key elements that really drive our success. First up, I’d love to have a really productive branch managers meeting, which we hold in St. Albans each month—the kind where everyone’s fully engaged and we all walk away with clear, achievable actions. 

Then, I’d make sure to carve out some time with our key partner brokers. It’s all about sitting down together, talking through how we can grow together, and making sure we’re on the same page for long-term mutual prosperity. 

And to cap it off, I’d be thrilled to see our service updates showing nothing but good news across the board. We like to call it a “sea of green” in our reports – it’s always a great sight! When these things come together, that’s when I feel we’re really firing on all cylinders.

What was your main takeaway from the inaugural Broker Week last year?

Unfortunately, I wasn’t able to attend last year’s Broker Week. However, I’m looking forward to this year’s event, and I’m delighted to be part of the panel and to have the opportunity to meet as many brokers as possible.

Can you give us a short snapshot of the insights you will be looking to share during your session at Broker Expo 2024?

During the session, I’ll look to highlight how Arch is adapting to the changing insurance landscape. I’ll explore how we’re striking a balance between embracing technological advancements and preserving the personal relationships that have always been at the core of our business.

Another crucial topic I’ll cover is our approach to talent management. I’ll share insights into how we’re working to retain and engage staff throughout Arch, fostering an environment that nurtures expertise and encourages innovation.

Lastly, I’ll touch upon the critical role of claims in providing a complete service to brokers. We’ll explore how our claims department is evolving to react quickly and efficiently to broker requests, further enhancing our overall service offering.

What broking/insurance innovation has most impressed you over the last 12–18 months?

I‘ve been impressed by the industry getting back to basics. We’re witnessing major underwriting organisations returning to providing good levels of service for brokers and offering better support. For example, there’s a desire to open offices in more regional locations to enhance relationships.

If you were to give an award to a broking individual or company, who would it be and what for?

I’d award Pelican Insured, a South Coast-based start-up. As former printing industry business owners, they’ve bravely entered the insurance market despite significant barriers. Their fresh perspective and exceptional focus on customer service set them apart. Pelican Insured’s approach is both courageous and refreshing – exactly what our industry needs. 

As we look forward to 2025, how well-placed is the broking sector to prosper, and what gives you confidence in your answer?

The broking sector is very well-positioned to prosper. My confidence stems from two key factors: Firstly, capacity is more readily available, and secondly, there’s an increasing number of MGAs offering alternatives to mainstream insurers. These developments point to brokers being able to provide new and innovative solutions for their customers’ needs.

Birmingham is home to Cadbury World; what is your favourite chocolate bar and why?

My favourite chocolate bar is Lindt, 85% dark chocolate. However, I should note that my wife only likes Cadbury’s. 

Ozzy Osbourne of Black Sabbath is a famous Brummie; who is the most heavy metal person in insurance and why?

I would say Adrian Brown, the former CEO of RSA, is the most “heavy metal” person in insurance. He’s both smart and a great person, which is an excellent combination to have as a leader.

Outside Broker Expo, have you ever attended any other trade shows at the Birmingham NEC and if so, what were they?

Yes, I’ve attended the British Insurance Brokers’ Association Conference when it used to be held here. Birmingham is one of the best UK cities for both business and pleasure. I am lucky I can visit regularly as we have an amazing branch in the heart of Birmingham, with a state-of-the-art office, which provides a great environment for our brokers and staff.

To sign up now to join Neil at Broker Expo at the Birmingham NEC on 10 October, click here.

For more details on the event, click here.