2019 MGAA Podcasts


The role of data and predictive analytics in an evolving market
Speaker: Simon White , Principal Consultant for Data Predictive Analytics, DWF
This session looks at how MGAs can experiment with their data in a low-cost and compliant manner to test and pilot data-driven concepts to improve the quality and speed of decision-making and optimise performance.

Learning objectives
By the end of the session, delegates will be able to:

  • Understand and describe the differences between Management Information (MI), Business Intelligence (BI), Augmented Intelligence (IA) and Artificial Intelligence (AI) and understand the practical applications of each of these data disciplines.
  • Understand the importance of the involvement of insurance domain expertise in exploring data analytics concepts.
  • Understand the importance of targeting data analytics projects at solving specific business challenges for MGAs.
  • Describe the steps involved in the data analytics journey from concept to operationalisation.
  • Describe several different types of data analytics techniques and understand how to apply the right technique to the right problem.
  • Understand the basic theory of predictive analytics techniques and why they work.
  • Understand the importance of both creative thinking and failing fast as applied to data analytics experimentation.
LISTEN HERE


Automated Underwriting: How to write Home Insurance using only a property address - a OneClickCover Case Study

Old Library, Lloyd's
Wednesday 5 June
OneClickCover is building a disruptive technology platform that will allow people to get a competitive home insurance quote using just one parameter – their property address. The briefing will demonstrate how to use data in underwriting to provide a better customer experience, breaking away from the paradigm of long questionnaires and confusing pictures of window locks commonly found in home insurance. The briefing focuses on the case study and will include a live demonstration of the platform from the consumer and underwriters respective viewpoints.

Learning objectives
Hutton Swinglehurst will talk about his experiences developing an extremely fast and easy to use home insurance customer experience and the role of data in delivering that. 
By the end of the briefing, delegates will have a better understanding of:
- how data can be used for the benefit of both customers and underwriters and;
- how other MGAs might benefit from using the OneClickCover platform.

LISTEN HERE

Looking beyond Brexit:  The FCA's future priorities for general insurance.
Tuesday 21 May 2019
Old Library, Lloyd's
Following the latest FCA business plan and publications issued over the past year, Matthew Rutter Partner at DAC Beachcroft, will be talking to you about:
- The distribution chain:  roles and responsibilities
- "Fair pricing" - what does this mean in practice?
- The challenges of dealing with vulnerable customers
- The duty of care:  does it add anything to the FCA's principles for business?

Learning Objectives:
By the end of the event, delegates will be better able to both understand and assess the impact on their businesses of the FCA's post-Brexit priorities for general insurance.


Regulatory Update - What MGAs need to know.
Monday 30 April 2019
Old Library, Lloyd's

BLM is delighted to be hosting a regulatory update session to MGAA members.

The first part of the session BLM partner Elizabeth Whittingham will look at the FOS and specifically address the consultation changes to the jurisdiction and awards threshold of the FOS. She will look more closely at the impact of the anticipated changes, including on prioritisation by insurers of complaint handling know-how and strategies.

BLM partner Steve Kuncewicz will then give an update on all things Brexit. At a time when the UKs political and economic position is still to be determined, Steve will provide a timely update and consider the impact on the MGAA market.

By the end of the session, delegates will better understand:

  1. Important changes in the FOS eligibility criteria
  2. Why customers choose the FOS route and best practice for dealing with complaints
  3. The implications of Brexit for MGAs as we understand them
LISTEN HERE

What treating customers fairly *Really* looks like
Monday 1 April 2019
Lloyd's Library

Listening to the FCA and other bodies, you would be forgiven that treating customers fairly is all about price. The current discussions on dual pricing echo this – that new customers get a better deal than existing customers or that poorer customers are treated differently.

Well there's much more to it than that. We all expect to pay more for fuel on a motorway service station than a normal road and there's a reason high end car showrooms are not in poor areas.

There's so much more to treating customers fairly than price and almost no one talks about those opportunities. During this session we’ll explore some of these and the impact they can have to your bottom line and the trust of customers of the insurance industry as a whole.

Learning Objectives:
By the end of the session delegates will be able to realise that Treating Customers Fairly isn't all about price and will be able to outline the much more important things that make customers loyal to a broker.
LISTEN HERE


Data Litigation and the New Cyber World
Monday 25 March 2019
Lloyd's Library

David Coupe and Helena Coates of EC3 Legal will be discussing the growth of data litigation in the UK and the impact of AI and Cryptocurrencies on the insurance Market. Kevin Sookhee Director at Intrepid Tech Ventures Ltd will discuss Applications of AI in insurance.
Data breaches whether through criminal activity or accidental data loss, have immediate ramifications that can include reputational damage, liability claims from customers, action by regulators and the associated insurance claims and disputes. This talk will help you understand potential threats for your businesses and will include discussions around the risks presented by Artificial Intelligence, cryptocurrencies, digital ledger technology and blockchain.  Additionally it will look at the steps regulators are taking including the new FCA consultation on the guidance under which cryptoassets are regulated. 
Learning Objectives:
- Understanding the impact of data litigation in the UK.
- Defining and being able to list the relevant sections of data protection legislation and the implications of breach.
- Summarising the current cyber threat to business.
- Understanding the threats for businesses.
- Identifying crypto risk, digital ledger technology and blockchain and their impact on insurance business
- Having knowledge of recent court actions and being able to list relevant case law in relation to data protection in the UK and Internationally.
- Understanding the impact on moving data with regards to Brexit and the transfer of international data.
- Demonstrating new knowledge of the current relevant data protection legislation to your business. 


Senior Managers & Certification Regime
Thursday 21 March 2019
ACORD Auditorium

The session focussed on the FCA's final rules for the application of the Senior Managers and Certification Regime to MGAs and other insurance intermediaries including:
preparations firms need to be making ahead of the 9 December 2019 implementation date
guidance on preparing Senior Manager Statements of Responsibilities
additional actions firms will need to take between December 2019 and December 2020

There is no recording of this event but the slides can be accessed here.

Mental Health in the Workplace
Wednesday 13 March 2019

ACORD Auditorium
The MGAA Next Gen Working Group hosted this very important event to raise much needed awareness for Mental Health in the Workplace.  This interactive shape and share session will have real life scenarios on how to deal with related issues as and when they arise. 
Learning Objectives:
By the end of the event, delegates will:
(a) have a better awareness of how to deal with mental health in the workplace,
(b) be able to list whom within an organisation can assist when mental health issues arise,
(c) understand what external assistance is available for those who require confidential guidance. 
 

CLAIMS - NEW TECHNOLOGY - NEW PRACTICES FOR A NEW CENTURY
Monday 4 March 2019
Old Library, Lloyd's
Technology offers opportunities to significantly reduce the costs of claims handling, save time and increase customer satisfaction levels.
In this session Qlaims and Sightcall will outline how live video streaming, gig economy ‘Responders’ and drones are being used by MGA’s, Loss Adjusters and Insurers to improve claims processes.
There will be a business card prize draw for a Qlaimstech Drone.
Learning Objectives
By the end of the event after 45 minutes of presentations and questions, delegates will have a clear understanding of how:
1. new claims processing solutions working with InsurTech can meet the challenges of increasing customer demands within the digital age;
2. to reduce costs in claims processing and;
3. to radically reduce the claim cycle. 


MGAA General Meeting
Tuesday 19 February
Old Library, Lloyd's

Members attended the General Meeting of the MGAA, at which the Report and Accounts, revised Articles of Association and revised Code of Ethics were approved.

Directors representing Full Members were confirmed as: Catherine Bell, Mark Birrell, Marco Del Carlo, Charles Earle, Gary Humphreys, Charles Manchester, Jonathan Skinner 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.

19 February 2019
LISTEN HERE

Can Captive Insurers add value to MGAs?
Monday 11 February 2019
Old Library, Lloyd's
A Captive is a special purpose insurance vehicle, that can provide unique coverage not available in the commercial insurance markets. An MGA with its own Captive vehicle, can give the MGA the ability to retain profitable risk, better negotiate in the reinsurance market, and design and control an insurance program tailored to its specific needs. 

Learning Objectives 

(a) What a ‘Captive' is and how it works; 
(b) Types of Captives; 
(c) The advantages and disadvantages of a Captive to an MGA. 

LISTEN HERE

   
Skin in the Game.  The Use of Risk Retention Vehicles to participate in the underwriting profit of your MGA
Monday 4 February 2019
Old Library, Lloyd's

Deloitte and the Robus Group have many years of experience in guiding MGAs and others in the insurance distribution chain when it comes to the use of risk retention vehicles to enhance control, stability and accessing a share of the underwriting profitability of their business. Drawing on Deloitte’s experience in guiding you through the considerations when establishing a risk retention vehicle, as well as the service offering of Robus in managing ongoing vehicles, the session will provide MGAs with an introduction to the options available and how to interpret these against their own business goals and targets.

Learning Objecitves:

  • Introducing the concept of Risk Retention vehicles and their use
  • What factors a firm should consider when selecting between different types of vehicle and jurisdictions
  • The establishment and maintenance requirements of the different vehicle types
  • The roles of the establishment advisor and Insurance Manager
Unfortunately there is no recording available for this session but the slides are available here .


SUPER COMPLAINTS, THE FCA AND THE PROBLEM WITH PRICING IN FINANCIAL SERVICES
Monday 28 January 2019
In December 2018, the Competition and Markets Authority (CMA) published its response to the Citizens Advice super-complaint about what has become known as the ‘loyalty penalty’.  The FCA has itself already started work on the issue and made clear it will take action, “including price interventions where appropriate”.  There seems little doubt the CMA and FCA both believe the super-complaint warrants more detailed investigation and possible action.

Learning objectives:
Kenneth Underhill will look at these issues with examples, set out how they may affect your firm and provide you with a clear understanding of the key actions your firm can take to ensure you are prepared for whatever next steps the FCA may consider appropriate.
LISTEN HERE