Watch the webinar recording to learn how brokers can identify and respond to early commercial risk signals, including liquidations, CCJs, adverse director history and changes in company behaviour.
Watch here or download slides.
Key participants: Chloe Weatherill (Senior ERM, nCino) leads the session; Juliet Williams (BIBA host) moderates questions and provides follow-up contact; attendees include brokers and industry members engaged via BIBA/ancillary events. Chloe presents to help brokers spot and act on early commercial risk signals – liquidations, CCJs, adverse director history, and company behaviour trends – so brokers can prioritise pipeline, reduce wasted effort, protect customers, and create defensible audit trails under the Insurance Act 2005 and the FCA’s consumer duty.
Main outcomes and guidance: Chloe consistently frames red flags as prompts for inquiry rather than automatic judgments and recommends combining multiple data sources into a single view. She details practical actions: screen every new lead before first meeting, re-check at renewal, monitor existing clients where appropriate, verify company details and financials at source, explain disclosure duties to customers, and keep a clear audit trail recording what was known and how the broker responded. The traffic-light (green/amber/red) prioritisation model guides immediate next steps: green – proceed normally; amber – ask clarifying questions and document; red – escalate internally, adjust cover/payment terms, and record reasoning.
Compliance and risk implications: Chloe emphasises that accurate, timely data and documented due diligence support defensible advice under the Insurance Act and the FCA consumer duty; poor disclosure often surfaces at claim time and can lead to claim reductions, policy avoidance, customer harm (especially SMEs), and professional indemnity exposure for brokers. Examples (including Young v RSA and anonymized broker cases) illustrate real consequences where early screening or monitoring would have changed outcomes.
Practical benefits and commercial opportunities: Beyond risk mitigation, Chloe shows screening and monitoring can produce commercial wins – uncovering incumbent failures or undisclosed CCJs that convert prospects to new business and can increase premium for existing clients by enabling transparent dialogues with underwriters (examples include a retained client with additional £6,500 premium and a new-business win of ~£16,000).
Follow-ups and resources: nCino provides aggregated data, screening rules built with brokers, API/platform access, and alerts; attendees are invited to contact Juliet for events or follow-up and to claim a BIBA member offer. Attendees should consider implementing initial screening at onboarding, renewal checks, and selective monitoring for higher-risk or strategically important clients, and ensure they document actions to demonstrate due diligence.
