Steve Beslity and Jo

Uploaded from authorPOINTLite
Views:
 
Category: Entertainment
     
 

Presentation Description

No description available.

Comments

Presentation Transcript

Broking in Transition : 

Broking in Transition TradeWinds Marine Risk Forum Bermuda 10-11 May 2007

Broking in Transition: 

Broking in Transition Decade of change New millennium New paradigm

Pre ’90s Historical Status: 

Pre ’90s Historical Status Ship owner Broker Insurers

Mid 1990’s Initial Change: 

Mid 1990’s Initial Change Ship owner Broker Insurers

2005 Wake Up Call: 

2005 Wake Up Call NYAG 2004 The result Regulation Transparency Compliance New revenue model

New Millennium: 

New Millennium Client Broker Market

Broking: 

Broking 2005 >>> New millennium FSA / Sarbanes-Oxley Transparency / Certainty New entrants / No legacy

Today’s Client: 

Today’s Client More demanding Less losses / incidents Higher retentions / deductibles More sophisticated

Future Challenges: 

Future Challenges Investment Security Environment Regulation Complexity Partnering

Understanding Your Clients: 

Understanding Your Clients Tools to solve complex problems Broker choice Client demands

Old Paradigm = New Paradigm: 

Old Paradigm = New Paradigm Time Broker Transition Dealmakers Consultative Disconnect Wake up call New entrants

Old Paradigm = New Paradigm: 

Old Paradigm = New Paradigm Client Product expert Marketing exec Service responsibility Claims advocate Consultative

New Millennium: 

New Millennium Client Broker Market