The London and International Insurance Brokers’ Association (LIIBA) recently announced its agenda for 2019, titled Domestic Efficiency and International Growth, and which follows a number of tangible successes from the 2018 agenda.
LIIBA states that from its 2018 agenda, one of the tangible successes is with PPL and the fact more than double the number of brokers signed up to electronic trading via PPL. As a result, LIIBA says volumes bound over the platform has increased by over 300%.
LIIBA announced in December of last year that PPL adoption among brokers was on the rise.
The organisation also states that ensuring the UK government understands what intermediaries require from the sector’s future relationship with the European Union (EU), in light of Brexit, is another tangible success from its 2018 agenda.
Furthermore, LIIBA notes that it delivered success in other areas, which includes witnessing the U.S. tax authorities remove the burden of FATCA from LIIBA members, ensuring a manageable approach to the Criminal Finance Act, and working alongside the FCA to provide input to the Wholesale Insurance Broker Market Study.
Commenting on the 2019 agenda, LIIBA’s Chief Executive Officer (CEO), Christopher Croft, said: “We want to introduce an element of longer-term ambition to our priorities. The agenda combines three previously-stated priorities – Brexit, PPL and the FCA’s review of the wholesale market, but also looks beyond these so as not to lose sight of the future. We believe that this agenda achieves that balance.
“In terms of PPL, we want to reap the benefits of our investment so far and develop a truly digitised market. Looking further forward, we want to explore opportunities for new business in both north and south America, see a greater emphasis on talent and diversity and play our role in ensuring the ongoing competitiveness of the market by, amongst other things, assisting new brokers to enter the market.”
