2016 MGAA Podcasts


Appointed Representatives.  It's time to get serious.
Grant Thornton

Slides from the Interactive Session presented by Grant Thornton are available on the link below.  No podcast recording is available.

31 October 2016
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Captives

Moore Stephens, DAC Beachroft and Artex Risk Solutions will be looking at business opportunities, as well as the practical, legal, tax and regulatory issues associated with MGAs setting up insurance Captives.  This is an area of great opportunity for MGAs, but also one that is essential to plan for effectively.

6 September 2016
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Panel discussion:  Building Personal Professionalism and a Corporate Culture

Chair:  Sian Fisher, CII
Panel:  Simon Graham CII; Duncan Minty – Duncan Minty Consultancy; Jennette Newman – BLM and Angela Peacock – People Development Team

The panel members will discuss the importance of personal professionalism and creating a corporate culture that supports this. The panel will offer ideas on how MGA management can inspire their staff and encourage them to pursue professional qualifications.  They will also explore the role of mentoring and debate some of the issues around ethics and professionalism.

6 July 2016
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What does a Digital Strategy look like for an MGA (and why is it important you have one)?

In this session INSTANDA spoke about:
- How modern, cloud-based software can lower the barriers to a digital operating model
- How to leverage new technologies to improve customer experience, stimulate business growth and achieve operational efficiencies
- How MGAs can measure their digital maturity and appetite for change
- How to translate this ambition into tangible, achievable actions
- How to use digital models to your own best advantage, through increased efficiencies, improved reporting and reduced human error.

19 July 2016
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Insurance Act - get in tune
Interactive Session - BLM

With less than two months before the Insurance Act applies to new policies the attention has inevitably focussed on commercial contracts. However the Insurance Act also applies to consumer insurance. Parts 3, 4 and 5 bring the law up to date on warranties (and irrelevant terms), fraud and contracting out. The Enterprise Act 2016 also introduces a "late payment" term in to every consumer contract thereby ensuring that damages are payable in the event of "late payment".

BLM examines those clauses and how the Ombudsman deals with those terms at present. BLM also consider how that approach will apply in the commercial context where the FOS has jurisdiction over "micro-businesses" and whether the FOS already goes beyond the present and the new law.

14 June 2016
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What the Budget means for MGAs - PKF Littlejohn

The main news coverage immediately after the March 2016 Budget may have led MGAs and their owners to conclude that it contained little of interest for them. However, there were numerous measures that have potential to affect the sector. The March Budget followed the Chancellor’s Autumn Statement, and the July 2015 ´Summer’ Budget after the General Election. The combined effect of these announcements mean that almost all business are likely to be affected in some way. Our Budget update, presented by PKF Littlejohn’s insurance industry tax experts, Chris Riley, Catherine Hayes, Ian Gadie and Luigi Lungarella, will focus on the key measures as they affect MGAs, and also areas of topical interest for MGAs both now and in the foreseeable future.

25 April 2016
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Conduct Risk.  Dont't let it be a risk to your business - EC3\Legal

Conduct Risk is currently high up the regulation agenda but can you answer all the questions?  EC3\Legal, in association with the MGAA, hosted an interactive seminar where members raised their issues with legal experts.  The panel consisted of Sara Ager, EC3\Legal; Graham Elliott, Azuru Ltd; Alistair Kinley, BLM; Peter Laws, Asta Underwriting Management Ltd.

9 March 2016
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Protecting Intellectual Property Rights - Clyde & Co

Intellectual Property rights in underwriting models, management information and know-how are often overlooked by the insurance industry. Yet they can be both a very valuable asset and a means of protecting your company in the event of business-critical events such as team moves for example. This seminar will focus on: - The IP rights which may subsist in underwriting models, management information, client data and know-how; - How best to secure ownership of those rights; and - Enforcing IP rights in an infringement situation.
20 January 2016

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InsureTech:  Hype or Gamechanger?

Ambant Underwriting Services host a panel discussion on "InsureTech - hype or gamechanger?"  Speakers were:
Chris Butcher, CEO - Ambant Underwriting Services
Flemming Bengtson, Co-Founder of Cvrd
Robin Merrtens, Co-Chair of InsTech London and Industry Guru
Jennyfer Yeung-Williams, European Partnership Lead at Munich Re Digital Partners.

The session covered the following:
Will InsureTech reshape Insurance?
Is Technology now encouraging innovation?
Challenges to the London Market Opportunities & Approaches

28 November 2016
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Financial Conduct Authority Open Door Meeting with the MGAA

Slides from the FCA meeting can be found on the link below.  No podcast recording is available.

10 October 2016
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Panel discussion:  MGAs, the Regulatory Horizon

Chair:  David Coupe, EC3\Legal
Panel:  Sara Ager - EC3\Legal, Mark Davies - Grant Thornton UK LLP, Charles Manchester - Manchester Underwriting Management Limited, Finlay Smith - RSA Insurance PLC

MGAs are facing increased attention from the regulator. The customer journey, conduct risk and the MGA’s ability to control its own business risk are very quickly becoming distinguishing features and a business differentiator in the already crowded SME space.  This panel of industry specialists will discuss how the management of delegated authorities, conduct risk and conflicts of interests remain hot topics for the MGA business and how if managed properly can be the means by which to attract and retain good capacity.

The session offers the audience an opportunity to hear from and interact with leading market participants and service providers who will  give their view on what regulatory change lies on the horizon for the year ahead and consider how best the MGA can  prepare to meet these obligations whilst remaining profitable and a viable alternative for its insurer partners.

6 July 2016
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Fraud - Don't get caught out.  RSA Insurance Plc

RSA's and the industry's fraud specialist, John Beadle, takes a market overview on how fraud and insurers response has evolved over the years and discuss how it is still impacting the industry. This presentation looks at how fraud can manifest itself either in the claims process or at the beginning of the underwriting procedure, including business from ghost brokers. John brings together the various market trends and counter-fraud strategies employed in the market, including cross-market initiatives such as the ABI Anti-Fraud Committee, the Insurance Fraud Bureau, IFED and the Insurance Fraud Register and discusses how these are evolving to meet the future industry needs.

7 June 2016
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Driverless Cars:  The road ahead & liability.  Mills & Reeve

Stephen Hamilton is a partner at national law firm Mills & Reeve, and he and his team have been consulting on responsibility and liability issues in relation to driverless cars. Stephen’s presentation will introduce the concept of driverless cars and other forms of autonomous transport and will explain how close the roll out of this technology is to becoming a reality. Stephen will go on to address the likely changes to the way we live and how this could alter and effect the market for insurance, not just in the motor industry. Mills & Reeve were involved with the UK Government's consultation on testing driverless cars in late 2014/early 2015, have consulted at the House of Lords on the topic and with numerous other legal and regulatory stakeholders and interested parties. The firm acts for a range of clients who have an interest in the development of driverless cars (automotive manufacturers, suppliers & insurers).

Due to technical issues the podcast was not available but the slides are available on the link below.

13 April 2016
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What does the Target Operating Model mean to the MGAA? - Lloyd's

Peter Montanaro, Head of Delegated Autorities at Lloyd's, will examine the delegated authority workstream of the London Market Target Operating Model (TOM). The objectives of the workstream will be clearly explained with some background as to the reasons behind the objectives, the progress being made and the likely impact on MGAs. This is also an opportunity for members to raise any issues that they feel could also be considered as part of the TOM.

29 February 2016
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The Insurance Act - BLM

BLM, working with the MGAA, hosted 2 workshops on The Insurance Act.  These sessions considered the specific issues arising from implementation of the Insurance Act for MGAs and those with whom we work. 

12 January 2016

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Profit Commission:  Getting the best and avoiding the worst

David Coupe and Sara Ager from EC3\Legal and John Needham from PKF Littlejohn presented this session, covering the following:
  - Remuneration and regulation - What is required?
  - Methodologies and calculation.
  - Common mistakes and pitfalls
  - How to draft a clause so that people understand it.
  - What to do if there is a dispute.

7 November 2016
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Exploiting opportunities in a connected world

Mike Smart, Majesco, and Kenny  Leitch, RSA, shared their insights on:

* Improving underwriting decisions through utilising data enrichment opportunities
* Direct SME consumer portals; expanding reach and reducing costs
* Improving the claims process
* Growing profitability through better data

26 September 2016
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Panel discussion:  The Evolving Requirements of MGAs and Insurer Partners

Chair:  Tom Bolt
Panel:  Darren Doherty; John McClelland; Alastair Speare-Cole; James Weatherstone

MGAs are seen as a cost effective way for insurers to transact SME business.  This has resulted in more underwriting capacity being provided by the “traditional market” but also the emergence of underwriting capacity from alternative non-traditional markets.

The panel members will discuss how MGAs are leading the way and embracing this additional capacity whether it is emerging from existing insurance companies or from new suppliers. They will also debate some of the issues around using this type of capacity.

6 July 2016
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The age of the MGA

In the age of the ‘digital native’ and an era of intrusive regulation, discover how technology is pivotal to MGA’s success.

Carriers are constantly searching for growth and new ways to diversify, so having access to talent who possess a niche ability to underwrite the most specialist of risks is very attractive. Even more enticing is the low-cost operating model and efficient distribution channels offered by MGAs. In a painful market for brokers and carriers alike, MGAs are in an enviable position.

But for them to truly grow, their operational strategies need to evolve.

A big piece of this is, of course, technology. MGAs need IT solutions that foster the enablement of new strategies and help them drive operational excellence, product innovation and customer service.

6 July 2016
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The impact of a Surge Weather Event on MGAs and the London Market - Cunningham Lindsey

Neil Gibson and Mathew Griffin from Cunningham Lindsey presented on the imact to MGAs and the Lloyd's and London Markets following a Surge Weather Event.

Due to technical issues the podcast was not available but the summary and slides are available on the link below.

9 May 2016
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Preparing for and managing a Cyber Event.  It's more than just IT and Legal ! - Crawford & Company

Paul Handy, Head of Global Technical Services, Europe Operational Head of Cyber Risks, at Crawford & Company explores the issues of Cyber Events
Having a plan to respond in the event of a breach is more than just good practice, it has become an essential requirement. But how far should that plan go and who are the key stakeholders that need to be involved from the outset?

16 March 2016
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MGAA General Meeting

Members attended the General Meeting of the MGAA, at which the Report and Accounts and revised articles of association were approved.

Directors representing Full Members were confirmed as: Catherine Bell, Mark Birrell, Tom Downey, Charles Earle, James Gerry, Mike Keating, Charles Manchester and Jeff Turner.  Keith Stern was confirmed as the Director representing Supplier Members and Bill O’Malley as the Director representing the Market Practitioner members on the board. The Directors provided reports on the achievements and plans of the standing Committees and the Managing Director spoke about future plans.

24 February 2016
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