The industry must build on a successful 2007
If you are reading this on Thursday 20th December then look up to the skies.
No, you won’t see Santa on a practice run but you might just catch sight of the plane whisking me away to Australia for Christmas with my family. OK, I know flying will increase my carbon footprint, but the long journey will allow me time to think of how I will offset the damage, among other things.
Travelling, Christmas and the year end is often a time for reflection on the past year and in our case what has been the early part of the 21st century. Whether you have just begun a career in insurance or have been in the industry for many years you will have your personal perspective.
My own reflections about the industry and BIBA seem to confirm progress and success in many areas, particularly in BIBA’s representation to government, the EU and the FSA.
However, we still have some serious issues that will need to be addressed in the next 12 months and beyond (but more of those in my next blog).
Whether you are thinking about the influence of the world economy, global warming, the movement of capital and the credit crisis or just getting through Christmas and the new year without too much debt, we all need to think about what we mean by progress, both personally and in business.
Unfortunately, progress with regulation seems to be taking one step forward and two steps back – we still spend too much time on regulatory issues. Regulation and all the usual issues of consolidation, commoditisation, soft market, MGA’s, and so on are all important, but frankly the only issue our customers want to know is do we understand their needs and are we working hard to protect their interests.
I’ll sign off my last blog of the year by thanking all of you who have taken the time to read my jottings and to wish everyone a happy festive season and a successful 2008.
