Anticipating change in a shifting climate

The UK broking environment has seen a maelstrom of change in areas such as broker consolidation and the rise and rise of aggregators. There is, however, an equally challenging arena out there regarding the critical importance of remembering what is important to customers. How to meet those demands defines the difference between the winners and losers among brokers and insurers.

Brokers and insurers must work together to understand customers' perspectives and attitudes towards risk management. Being aware of and being able to communicate implications of legislative and regulatory change is a significant part of the role of a successful broker.

As an insurer that is adaptive to change, we look constantly at ways we can support brokers to win and grow their corporate business book in a market where so many are jostling for position, but we are not just working with businesses in the UK. Multinational insurance is a growing opportunity, enabling insurers to clear up the uncertainty that exists in relation to the changing legal, licensing and foreign premium tax regulatory environment. We have improved our structures and programmes to lead the way for our customers and brokers in this area.

Of course, as well as opportunities there are threats. Evidence of third party fraud is worrying and we all need to become more aware of what is going on out there and how we can best identify fraud to mitigate its impact.

In a market where understanding, collaboration and innovation are likely to be future watchwords, Zurich is confident in the longevity of what it has put in place and its ongoing worth to the corporate world and to brokers. Enjoy the supplement.

- Gary Wainwright, Director, broker division, Zurich.

This article is from a Zurich supplement entitled ‘Corporate Risk’ which was distributed with the November edition of Professional Broking.