Today’s guest is a visionary and in the next 40 minutes he’s going to outline the future of broking.
As insurance placement process evolves from being the movement of documents around the market to a seamless flow of data between parties, we are on the cusp of a big bang in complex insurance.
If you think that this is something that won’t be happening any time soon, you are completely wrong - it’s already happening. Anthony Siggers is the Digital Leader for Marsh Specialty UK and Marsh has already fully digitised 70% of its London slips.
Given that Marsh places about $15bn dollars of premium a year into the London Market, this is one tech change that is already way past the tipping point.
If a massive broker like Marsh can do it, so can everyone else.
So we’re digitising the market, but what next? That’s what we spend most of this podcast discussing.
For example how much of the market will be lead capacity and how much automatic or algorithmic follow?
How will a broker be working in the near future?
What will happen to costs, commissions and insurance penetration? And what about the impact of AI?
And what are the secondary effects of all this change likely to be?
Siggers has been implementing technology and pursuing entrepreneurial ideas in and around insurance and the financial markets for thirty years.
He is eloquent and he is also great fun. This interview will completely change your perception of where the syndicated insurance and reinsurance markets are heading and how fast they are doing so.
If you only listen to one podcast this year, make sure it is this one.
NOTES:
JSON (pronounced like the name Jason) is a file format for data transfer
LINKS:
We thank our naming sponsor AdvantageGo:
https://www.advantagego.com
