What's Happening?
The London and International Insurance Brokers’ Association (Liiba) is set to publish a new report titled 'The Innovation Imperative: Why Brokers Matter More Than Ever' in October. This report aims to highlight the value of commercial broking to the global economy. Liiba's chief executive, Christopher Croft, emphasized the importance of changing the perception of brokers as merely a distribution cost. The report will be available on the Insurindex platform and is scheduled for release before the Insurance Leadership Forum in Colorado Springs.
AD
Why It's Important?
This report is significant as it seeks to redefine the role of brokers in the financial ecosystem, emphasizing their contribution beyond traditional perceptions. By demonstrating the economic value brokers provide, the report could influence regulatory and governmental perspectives, potentially leading to more supportive policies for the broking industry. This could enhance the industry's reputation and attract more investment and talent.
What's Next?
Following the report's release, there may be increased dialogue between brokers, regulators, and government bodies to better understand and leverage the value of broking. The findings could also be a focal point at the upcoming Insurance Leadership Forum, potentially influencing discussions and strategies within the industry.
