By: 11 September 2020
Society of Insurance Broking reveals plans for third year

The Society of Insurance Broking has revealed plans to offer support to brokers on the long road to recovery from the initial impact of Covid-19.

This month sees the Chartered Insurance Institute’s society for brokers mark its second birthday. Launched in September 2018, the society is designed to support broking professionals by providing essential good practice guidance, thought leadership, and a dedicated programme of continued professional development.

In response to the immediate challenges faced by brokers as a result of Covid-19, the Society of Insurance Broking produced guidance on new customer vulnerabilities that rapidly emerged as a result of the pandemic, ways to recognise the growing number of scams and fraud that used coronavirus as an emotional lever, and an investigation of the implications of unoccupied commercial properties.

Good practice guidance on surge events was also updated and the society’s ‘Mastering Conversion’ webinar series proved popular with members.

In the next 12 months, the society plans to offer guidance to help members manage difficult conversations, emphasise the value of professional advice, and improve their sales and renewals.

Matt Hall, strategy and operations manager of the Society of Insurance Broking, said: “By March, Covid-19 had already started to have a widespread impact on the broking profession and our members. It was evident immediately that the priority had to be supporting our members during a difficult time.”

“In an environment where so much is beyond our control, we will continue to focus on our core objectives—providing our members with knowledge, skills and insight to ensure they are best equipped to navigate the challenging business environment and, crucially, achieve the best outcomes for their clients.”

Hall continued: “We have begun to look beyond the here and now, examining the long-term financial and economic impact of the pandemic and the ways it will change our ways of working.”

“In the past few months many conversations have emphasised the importance of insurance to society—both the rewards of getting it right and the risks of getting it wrong.”

“The value of clear professional advice to businesses and individuals is only likely to increase in the months ahead; and we will be there to ensure our members are supported on what will undoubtedly be a long road to recovery.”