Brokers urgently need to develop new skills to deliver for clients, says BIBA CEO

Brokers can no longer rely on the same skills they have sought for a generation, in a world increasingly dominated by technology, and urgently need to attract younger, tech-savvy talent to better deliver for customers, according to Steve White, CEO of the British Insurance Brokers’ Association (BIBA). Speaking at BIBA’s annual conference in Manchester this week, which is expected to attract more than 8,000 attendees, Mr White said the need to attract talent into the broking industry is not new. But therange of skills broking firms are now seeking from new employees is changing, he added. “It is no longer sufficient to seek the same old skills… Our lives have become increasingly digitalised. Our customers expect our services to follow that trend. I want you to lead the way,” he told members at the event. The broking sector must draw from a younger, tech-savvy talent pool that can energise and influence incumbents, added Mr White. Recruiting talent from digital natives comprised of millennials and generation Z, will bring a whole range of new and different skills, he continued. BIBA has developed a Young Brokers Programme to bring new talent into the industry and is using its Young Broker Ambassadors to position insurance broking as a career of choice. Mr White urged all brokers to take apprenticeships seriously. BIBA has also committed to digitally upskilling its existing members in its 2019 manifesto. The association will work with partners, including Google and software houses, to help members make sense of data at their fingertips and become innovators and design thinkers. These are new skills that will keep brokers at the forefront of “good old-fashioned” customer need fulfillment, said Mr White. He went on to say that the development and use of artificial intelligence (AI) in the insurance sector has been spoken about for a while, but there are clear signs it is going to affect the industry “much sooner than we might have previously thought”, he told delegates. “Technology changes will really benefit brokers and their customers, giving the opportunity for brokers to lead the way and take change on board, embrace societal change and take a long-term view of how best to deliver for our customers,” Mr White said. He added that AI should help brokers provide better services, reduce manual tasks and more easily identify needs and product. Mr White also stressed the importance of brokers delivering on diversity, inclusion and mental health wellbeing to attract young talent to the industry and support existing staff. “Those firms that are already creating a culture around diversity, inclusion and mental wellbeing are finding it easier to recruit the young talent they need for tomorrow. That is essential for our industry,” said Mr White. “If we are to stay ahead on the skills front, we must deliver on diversity, inclusion and mental health wellness. They are not nice-to-haves, they are essential for the modern workforce,” he added. “Our priorities remain our people and the customers they serve… our job is to ensure that no matter how loud the noise around us is, we don’t forget that,” he concluded.

Brokers urgently need to develop new skills to deliver for clients, says BIBA CEO

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