SIB reveals plan for second year since launch

The Society of Insurance Broking (SIB) has revealed its plans for what its members can expect over the next 12 months as it celebrates one year since it launched.

Kevin Hancock, chair of SIB told Insurance Times that its agenda is to continue to build public trust in the broking profession and raising professional standards.

“We’re doing that through the production of good practise guides geared towards creating better skills, knowledge, learning,” he said.

He explained that it has refocussed by being targeted on helping it constituents and increased visibility of the society.

It is working closely with Biba to do this, with Steve White Biba’s chief executive sitting on its advisory board which currently has 12 members, it is looking for further board members at present.

Year two priorities 

Hancock told Insurance Times that the priorities for the year ahead is to recognise that its membership are at different stages of their career. It will be looking at producing a series of guidance products, making sure that the range is relevant to emerging markets, such as insurtech and cyber and ensuring that the board is both inclusive and diverse. There will also be a ‘new generation’ programme for emerging talent to mentor and guide them.

Matt Hall, strategy and operations manager at the Chartered Insurance Institute (CII) further explained that the plans for year two also include providing more content via the society’s dedicated ezine, called Brisk, including longer articles with more depth, technical insights, plus interviews with industry leaders.

He said “As we approach its first birthday, I feel very optimistic about the future for the Society of Insurance Broking. The good practice guidance we have issued has helped members to enhance their technical abilities and improve their professional behaviour.”

Progress

Since its launch, the SIB has produced guidance on topics including the Insurance Distribution Directive (IDD), forensic marking systems, construction materials and the treatment of vulnerable customers.

“Our job isn’t to tell brokers how to run their business. Our job is to help members to be better brokers. It’s about upskilling them. We want people to have somewhere to go to for guidance on technical issues, as well as vulnerable customers (such as those with dementia),” Hancock added.

The SIB which replaced the insurer broker faculty, now has almost 15,000 members worldwide, the society was established as a community to support the broking profession through providing essential good practice guidance, thought leadership and a programme of continued professional development.

“The first year has been a year of providing material and content to our membership, with the SIB giving our part of the profession a higher profile in the wider insurance community. We will continue to encourage our members to improve their knowledge and skills to lead to better customer outcomes and greater public trust in the broking profession,” Hancock concluded.