Broker Expo 2024 Countdown: Nick Hobbs, chief distribution officer, Allianz Commercial

UK Broker Week seeks to offer a complete week of activity aimed at promoting the broking sector. What two or three things would help constitute a perfect working/broking week for you?

For me, the perfect working week involves high levels of collaboration with colleagues from across Allianz Commercial, spending time in our offices and having the opportunity to catch up with trading and distribution teams across our regions.  

In addition, time spent in our Quarterly Broker Review meetings and listening to our broker partners is invaluable. It enables us to continuously determine what makes for better service, it strengthens relationships and helps create meaningful joint actions. 

I also believe that everyone should make time for continuous learning and improvement, so in an ideal working week, there should be opportunities for some growth through reading, training – and leading training. A perfect week also involves clearing more emails than arrive.

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

I wasn’t at the Broker Week last year BUT, as always, bringing together a diverse, knowledgeable group of broking and insurance professionals always leads to a good exchange of ideas, trading discussion and occasional challenge, so I expect the same this year.

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

I’m looking forward to a lively and productive discussion about how insurers can support brokers with the challenges they are facing in terms of meeting customer demands, the extent to which we can address emergent risk, collectively meeting regulatory requirements, streamlining the process, addressing ‘responsiveness’ and exploring with brokers how and where we can innovate in all these regards.

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

The ‘simple’ artificial intelligence in my phone helps me find pictures of people and events in my photo album instantly. Similar AI is transforming product development and claims processing, reducing turnaround times. 

Using this technology to support human expertise has the potential to lead to even better outcomes overall. It’s also aiding the data wrangling that allows us to create modularised insurance products that can be better tailored to individual risk profiles and client requirements. That’s an exciting development.  

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

The insurance broking profession is in rude health. Investment is still freely available. Broker service overall has benefitted from consolidation. Operationally, there have been advances in back-office systems. 

The regulatory gaze has forced us all to look at ways by which we improve what we provide – with largely good outcomes.

The numerous broker data insight tools are making for richer conversations with insurer partners.

Insurance brokers have also shown great adaptability in the face of external challenges (most parties adapted well to managing the spectre of inflation) with good client interaction. It’s also clear that many brokers are placing great emphasis on a client-centric and personal approach which is yielding long-term success.

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

Dairy Milk. Overseas colleagues don’t even think it’s chocolate. I just wish the bars were bigger.

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

Richard Tuplin of Ardonagh. His way with words would make for some truly interesting rock lyrics. …

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

For more details on the event, click here.