Blog by Adam Beckett

Ageas Insurance Chief Distribution Officer, reflects on the first in-person BIBA Conference for three years and the company’s focus on personal lines.

Posted on 18th May 2022 Tagged in Corporate News Blog
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Blog by Adam Beckett | Chief Distribution Officer at Ageas Insurance. 

The excitement in Manchester last week was palpable. It goes without saying that there was a real excitement, both inside and outside the conference hall, as we reconnected with familiar faces and enjoyed the power of personal connections.

Although video conferencing has served us well, the power of face-to-face conversations has not diminished and it’s those important, in-person conversations we enjoyed at BIBA Conference last week that really do drive business, particularly when we are exploring opportunities to grow, together.

While the conversations around traditional Motor and Home products continue to provide us with an exciting pipeline of prospects, the societal changes we’re experiencing were reflected in many conversations last week. This is especially true as we explore with brokers how we can work together to meet emerging customer needs, for example the move to electric vehicles, Pay As You Drive and Short Term Insurance. There was also enormous interest in how brokers can support their customers in these challenging economic times by offering more choice on product and price.

BIBA was also a great opportunity to take a break from our laptops and reflect on how much has changed in the last three years, how we’ve adapted and the prospects for what lies ahead.

The Covid pandemic has obviously been one of the most turbulent periods of change in a generation. Many of the BIBA sessions focused on the consequences of the shift in customer expectations and invited forecasts for the future of insurance. It was reassuring to hear a collective consensus of the need for us to find more efficient ways to connect with our customers, especially those generation Z and young millennials who expect speed, exceptional accuracy, and a frictionless experience from the palm of their hand.

Of course, to meet these expectations and compete, our industry needs to be able to adapt at pace, offering the right products through preferred channels.

Understanding that the power of data allows us to deepen existing opportunities and make new ones and, at Ageas, we’re focusing on digitising and collaborating with brokers on unique data insights. These developments will improve the customer journey and drive efficiency for all involved, enabling us and our broker partners to grow personal lines, together.

We’re also working to put control in the hands of the customer to manage their claim in the way that they want.

When the storms hit earlier this year we quickly rolled out an online journey for customers to self-serve storm claims online. It was used by nearly 20% of our customers during Storm Eunice, corroborating our understanding that customers do want the convenience of a self-serving digital journey.

If there’s anything recent years have taught us it’s to recognise our strengths. It was evident from every conversation and interaction last week that the broker market is as strong as ever, and by capitalising on our joint ability to innovate we can work together to capitalise on the new mass market opportunities.

The times we’re living in may be turbulent, but they are also exciting and I’m looking forward to continuing the conversations that began last week in Manchester over the coming months. If I don’t talk to you before I’ll see you in Manchester on 10 May 2023 when, yet again, we’ll have the opportunity to experience the power of personal connections.

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