Insurance SIG tackles broker tenders

Published on Tue, 26/07/2022 - 16:52

Airmic’s thriving Insurance Special Interest Group met on 18 July with 50 members attending to discuss experiences and tips when engaging in broker tenders.

Martin Smyth, Group Insurance Manager at Next, chairs the SIG and welcomed a presentation from Heidi Carslaw, Managing Director of Mactavish, who partnered on Airmic’s new Guide on Managing Broker Tenders. There was also a presentation from a member on their own recent broker tender experience.

“Arguably the secret sauce of SIGs is the Chatham House closed member-to-member discussion,” Martin said. “There were a number of excellent real-life experiences being shared, and being Chatham House we cannot say too much, but one topic that came out from multiple members was the reluctance for some brokers to participate in tenders.”

In the past 12 months, the SIG has also discussed cyber and developing the next generation of insurable risk talent.

“The testament to the SIG's importance is its really strong attendance, but most importantly is the member participation,” Martin added.

“The most exciting element of this particular SIG is the sheer variety of topics we cover, and the wide range of backgrounds and experiences of the members who attend. We have representation across industries including financial institutions, legal firms, government agencies, manufacturing, pharma, retail and transportation to name a few.”

More broadly, Martin believes the group’s appeal lies in its broad membership and the range of topics that come up in conversations.

“I think the SIGs and the other resources provided by Airmic arm members with up-to-date knowledge from a broad spectrum of sources,” Martin added.

“You get to understand the views of other members and the issues they are facing. In addition, and certainly one of the most valuable aspects of embracing the benefits that Airmic provides, is building a network of professionals working in the same industry - many of which I often call upon for impartial advice and opinions, so thank you to all those who field my pleas for help!”

The next Insurance SIG is on 9 August and will feature a presentation from Howden on the growing trend of insurable risk managers working on both general insurance and employee benefits.

For more information on the Insurance SIG or any other special interest group, email Leigh-Anne Slade.