Good morning everyone.
Welcome to the worlds largest insurance broking conference. The future of Insurance broking is now – and it is TIME TO lead… to seize the opportunity in this fast-changing world.
It’s such an important time for our customers… with businesses and consumers facing new challenges…new pressures… and increased costs.
Clients expectations are evolving as a result. And you – as insurance brokers – are evolving alongside those… as trusted risk advisers.
As a trusted risk advisor you are an expert – you are their partner. You look at the.. individual.. needs of each client… You search the market… like a detective…You make a considered recommendation… And your client is much better for it – THAN if…..they had just asked Alexa or chat GPT
The Chancellor speaks of global headwinds. And its been pretty gusty recently…
The world we all face now… is exactly why our 2026 Manifesto theme is ‘Economic resilience’. Having a BIBA Broker in your corner as your trusted risk adviser is more important than ever…
Our Manifesto sets out our plans to deal with the gusts… and the headwinds relevant to you. Our Manifesto contains some crunchy calls for action…. and our strong commitments to you.
Our 2025 Manifesto delivered over 20 wins for members, our best year ever. Including our work with Gracechuch on insurer service…delivering a POSITIVE 43-point swing in the net promotor score since it started.
We were pleased with the sensible outcome with the FCA Premium Finance market study – focusing rightly, on fair value. We are glad to have averted an increase in IPT… and thank you to the many members that joined us in that campaign.
And the industry fire safety re-insurance facility now covers over 1,000 buildings with a sum insured of over 17 Billion Pounds. We also launched our new joint commitment with the ABI on Total retail Signposting…aiming to help more people than ever before… and we do help people… we help with over 400,000 queries a year, through our find insurance service… so please make sure your teams signpost any risks you can’t place… to us here at BIBA.
This year we are aiming high…Here are our top ten key asks… and our top ten commitments…In a couple of hours time, we will find out the result of our biggest Manifesto ask for 2026…
when the King announces the country’s new legislative agenda in todays state opening of parliament. Our number one ask is for a new Financial Services Bill…
Of all the days to open Parliament, they choose this one! We need this bill to carry forward the regulatory reforms we have been discussing with the City Minister – Lucy Rigby, MP.
We want these reforms to include: – A shorter regulatory authorisation framework for the FCA…
– much needed reforms to the Financial Ombudsman service…
– simplification of the Senior Managers and certifications regime…
– and to allow the gateway to growth provisional licence system for start-up firms.
To name just a few. Shortly – we will find out what the King announces.
So if we succeed… the celebration cakes are on BIBA today! And if we don’t… we’ll be right back at it tomorrow… finding another way to deliver the reforms our sector needs.
And speaking of regulatory reform…I am delighted we are joined by the FCA on the main stage this year, by their head of Insurance Supervision, Lisa Sturley.
Many of you will know her – as she has attended a myriad of our advisory boards and committee meetings..to help bring forward the changes we seek for more proportionate and cost-efficient regulation…Lisa also joined us on our regional tour the last two years and she is back for her hat trick – so book yourself on to one of these eleven dates.
I am pleased that so many of the points that you’ve raised on our tour – and in our committees and advisory boards – have been acted upon. Your feedback led DIRECTLY to FCA Policy Statement PS25/21…
‘Simplifying the insurance rules’ and Lisa has worked directly with us to deliver:
- More streamlined reporting
- Faster Authorisation Times
- And lowering the scope of the consumer duty
But there is more to come – like removing more ICOB rules.
And we continue with the constructive collaboration with the minister Lucy Rigby, as I sit on her Trade Association Advisory Group at Treasury…where we work in partnership to deliver the Leeds Reforms… and the Financial Services Competitiveness – and Growth Strategy.
This level of collaboration between BIBA… The FCA… and the Government… is something I am very proud of… Their recent Insurance regulatory priorities report aligns very closely with our manifesto for the first time ever …And we have already made great progress with PS25/21,…..yet there is still more for us to do.
But don’t just listen to me, you can hear it from the Insurance Minister yourself in thisspecial……message.
Play VT.
Thank you, Minister.Now, I am delighted to make THREE new announcements today:
First – our new accredited cyber insurance broker directory is now LIVE.Its purpose is simple…to help close the cyber insurance protection gap by ensuring SMEs can be signposted to an expert broker…
The screening criteria have been jointly approved by the Department for Science, Innovation and Technology… and the BIBA Cyber Committee – a fantastic example of public–private partnership in action.If you’re a cyber broker and you’re not listed yet – please get in touch.
My SECOND is about the BIBA Markel AI Academy.We are already seeing how AI is transforming the way we work, through policy comparison… new rating factors… claims handling… and the way people search for their insurance.
We will help you on your AI journey – and our AI Academy is well on it’s way to training its first cohort. And my THIRD announcement… is our new Ben the broker Campaign. Ben burst on to the scene last year…and the campaign generated a better than expected 47 million chances to hear, see or read about the advice and choice that brokers provide.
This year – Ben is promoting the importance of cyber insurance… he is in the papers this week…. and he has a new video…And here is the premier.
Run VT…
This year will be my 25th at BIBA… yes I can see that look in your eyes -I started when I was 10.When I look back at what mattered…It is when the members stood up for their customers.
It is when BIBA stood up for our members…And one thing I will promise you today, is that we will have your back…we will continue to be there when you need us… when you need a friend……………..
We’re supported by an outstanding team. Here they are on the screen, with some new faces among them. They work tirelessly on your behalf.
Let’s give them a big round of applause.
We also have such great young people in our sector as we continue our work with schools across the country. We are so proud that some of the students we met in schools are now working in our members offices full time.And tomorrow – we announce the winner of our Oliver Rose Young Broker of the Year.
Who… will… receive the award from our Two-thousand and Four winner – Jane Kielty -… who is now the CEO of Aon UK.Clearly… it’s an award worth winning!
I would also like to thank our record number of sponsors including principal sponsors Aviva and Intact Insurance. We are most grateful.
And a warm welcome to our international visitors – once again Nigeria leads the way.I am very glad that as the world becomes more protectionist, BIBA remains committed to our involvement with the World federation of insurance.. intermediaries… and our European Federation BIPAR.
Also please remember we have a joint partnership with the CII on Broker Assess our online training tool… …it’s a great way to demonstrate competency to the regulator, so please take a look on our respective websites.
Next year is BIBA’s 50th Anniversary.We want to mark that milestone.
We’d love you to be part of it… so please send us your stories, your photos – including the most embarrassing haircuts. And of course those original 1977 membership certificates.
Share your memories; they help tell the story of our sector……..Our team is dedicated to serving you for the next half‑century with: Purpose… passion… and energy.
We look forward to meeting you on the Regional tour along with the FCA, where we’ll listen, learn, and answer your questions.So, now it’s Time.TIME TO bring more young people into our sector…Time to close that protection Gap…Time to seize the opportunity…Time to innovate…Time to join a BIBA Committee or advisory Board…Time to collaborate and solve problems together…Time to Adopt AI…
And Time to shine as your clients trusted risk adviser.That’s why the future of insurance broking is bright, and it starts today.
It is my great pleasure to serve you… and I look forward to meeting many of you over the next two days. Now, it is TIME — time to connect… to do some business and enjoy yourselves by having a fabulous experience at the world’s largest insurance broking conference.
Thank you.
