BIBA launches its ‘Innovation Station’

17th January 2017

At the launch of its 2017 Manifesto the British Insurance Brokers’ Association (BIBA) announced that it was forming a new cross-industry group with the working title of the BIBA Innovation Station to support insurance brokers and start-ups and to explore the challenges and opportunities presented by insurance innovation.

Innovations and developments to be discussed include the use of big data for more accurate rating, drones for survey work, artificial intelligence and chatbots to handle simple customer queries.

Steve White, BIBA CEO, said: “Insurtech and innovation are key Manifesto issues for our members this year.  Insurance brokers have long been innovators, finding inventive solutions for customers in a variety of ways.  We have seen great changes in our market and we want to help members understand how they can benefit from new technologies and our new insurance innovation focus group will be key to this.”

The new group will be managed by Andy Thornley, BIBA Head of Corporate Affairs.  Andy commented: “By its very nature any group focusing on emerging technologies and innovation needs to be agile, creative and responsive to change. I am very much looking forward to pulling this group together to drive innovative thinking in our sector.”

The Innovation Station will be up and running during 2017 and aims to reflect the changing needs of insurance brokers.

 

-ENDS-

Notes to editors

  1. For further information please contact:

    BIBA press office:
    Pam Quinn, Head of Communications
    020 7397 0223
    quinnp@biba.org.uk

Leighann Forsyth; Deputy Head of Communications
020 7397 0223
forsythl@biba.org.uk

 

  1. About the British Insurance Brokers’ Association

The British Insurance Brokers’ Association (BIBA) is the UK’s leading general insurance intermediary organisation representing the interests of insurance brokers, intermediaries and their customers.

BIBA membership includes just under 2,000 regulated firms, employing more than 100,000 staff.  General insurance brokers contribute 1% of GDP to the UK economy, they arrange 52% of all general insurance and 78% of all commercial insurance business. Insurance brokers put their customers’ interests first, providing advice, access to suitable insurance protection and risk management.

BIBA helps more than 250,000 people a year to access insurance protection through its Find a Broker service, both online and via the telephone.

BIBA is the voice of the sector advising members, the regulators, consumer bodies and other stakeholders on key insurance issues.