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British Insurance Brokers’ Association PowerPoint PPT Presentation


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British Insurance Brokers’ Association. BIBA Presentation. www.biba.org.uk. Who is BIBA?. UK’s leading general insurance intermediary organisation. Not for profit. Represents brokers/intermediaries. BIBA’s mission statement:. Promoting – Our Distribution channel and industry

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British Insurance Brokers’ Association

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British Insurance Brokers’ Association

BIBA Presentation

www.biba.org.uk


Who is BIBA?

UK’s leading general insurance intermediary organisation.

Not for profit.

Represents brokers/intermediaries


BIBA’s mission statement:

Promoting – Our Distribution channel and industry

Influence – Decision Makers

Maintaining – A Stable Business Environment (FSCS)

Supporting – Protecting Members Interests


What does BIBA do?

BIBA is the voice of the industry

Representing members to Government, the Regulator, media, consumer bodies and other stakeholders.

Offers training via the Broker Academy (including face2face and broker ASSESS)

Unique schemes and facilities

Technical advice

Guidance on regulation

Helping to raise industry standards

Conference


BIBA’s structure

Democratic organisation / BIBA members input

GIBC/Board

Regional committees

Technical committees


Representation - Corporate Affairs

  • Agent of the client (differentiate our distribution channel)

  • Build relations of trust (Government, regulator, Which?, CBI, Media)

  • Aim to influence Bills, Regulations, Media, Public understanding of brokers

  • Consultations


BIBA Manifesto

  • Engaging BIBA members and committees in policy making process

  • Helping to clarify BIBA’s key messages

  • Bringing a focus to key priorities

  • Providing a valuable platform for political and media engagement

  • Target Lists – Gov/regulator/Media


Example of an award winning sustained campaign

Aim – Regulation of Travel Agents for connected Travel Insurance to create level playing field

v


Current Campaigns:

  • Future of regulation

  • FSCS Review

  • Signposting

  • Review of the IMD

  • Law commission review of Insurance Law

  • Motor insurance (select committee, NI Guide, DVLA Access)

  • Flooding (Government working parties and resilient repair)


Government Activity

HM Treasury – Regular liaison, Bill team, Signposting, Floods, Gender, Insurance Forum Consumer Group

DEFRA/Environment Agency – Flood

Cabinet Office – Business resilience (SME’s)

Department for Transport/DVLA, Transport Select Committee, licence access, CIE, e-certs.

All Party Insurance Group – Parliamentary reception, Flood, FSCS, regulation.

BIS – BrokersOFT – Comparison Sites


Regulatory Support

  • Forums

  • Website

  • Compliance Rules

  • Financial Conduct Authority

  • Financial Services Compensation Scheme

  • Insurance Mediation Directive

  • Financial Ombudsman Service (FOS)

  • European Federation of Insurance intermediaries (BIPAR)


  • E-mails

  • Website

  • Broker Magazine

  • Media

  • Guardian Supplement

  • Mail on Sunday / Ask the Expert

  • Case Studies

  • Research (Benefits of Brokers, Advice, suitable Insurance)

  • Social Media; Twitter, Linkedin, YouTube

Communications


Membership

  • Benefits

  • broker ASSESS

  • Find a Broker online/helpline

  • Member Contacts

  • Don’t just join, join in!


Technical

  • Schemes/Facilities

  • Committees

  • Advice

  • Technical Briefings

  • Industry Agreements

  • PI Initiative


Annual Conference

  • Networking event of the Year

  • Attendance records from 2011:- 4152 Attendees

    - 174 Exhibitors

    - 2526 Brokers

  • Free to all BIBA member firmsDate for Diary; 16th & 17th May 2012 - Manchester Central


Thank you


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