BIBA conference is once again upon us and as such I’ve been thinking about the things I expect to see and hear up in Manchester this year. Some of the company names may have changed, but many of the faces remain the same and BIBA is always a great opportunity to catch up with old friends, as well as make some new ones. But what are going to be the hot topics? Well, I’m nailing my colours to the mast with the three main themes I think may crop up.
Firstly, we’ve all started getting the emails from companies that are desperate to stay in touch with us. Yes, I’m talking about GDPR. We are on the eve of new regulation and this is going to have a significant impact across the industry when it finally arrives on 25th May. With this, we are also seeing increased scrutiny on how data is being used even if it is within regulatory permissions. Customers are becoming more and more aware of how we are using their data, so I anticipate that as insurers and brokers we will need to be ready to answer the challenge of what we’re doing with it.
The next thing that will be front of mind for many is broker consolidation. We’ve seen a marked increase in these deals over the past year, but what does this mean for brokers, customers and insurers? BIBA is also the perfect platform for buyers and sellers to thrash out a deal, so I wouldn’t be surprised if we saw an announcement or two post-conference.
Thirdly, I think BIBA provides an important opportunity for everyone there to choose their partners for the future. No insurer or broker is an island, and events like this are crucial for forming meaningful bonds with other companies. Insurers and suppliers will certainly be putting their best feet forward. Who has got what it takes to stand out and grab brokers’ attention?
And what about LV= Broker? Personally, we’re hugely excited about BIBA this year. Our joint venture has made us the third largest personal lines insurer in the UK and we can’t wait to share the benefits of this scale with our broker partners. We want to be the go-to insurer for brokers, so do come down to the heart of the conference at stand D30 to find out more from me and my team.