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(Graeme enters to the song Abracadabra by Lady Gaga)…<\/p>\n
Well we certainly hope to add a little magic<\/strong> with this year\u2019s BIBA Conference!<\/p>\n Welcome<\/strong> everyone to the biggest and best ever BIBA Conference I’m Graeme Trudgill.<\/p>\n and it\u2019s wonderful<\/strong> to see you all gathered here as we embark on – \u00a0an exciting New Era of innovation, collaboration <\/strong>and growth<\/strong> within our industry.<\/p>\n Our theme A NEW ERA, – <\/strong>is relevant in so many ways.\u00a0 BIBA itself, <\/strong>will be entering a new era as the reign of our current Chair Jonathan Evans comes to and end this year. B<\/strong>efore we look forward – I’d like to acknowledge Jonathan – for his exceptional<\/strong> leadership over the past six years as our Chair.<\/p>\n He\u2019s a former MP, MEP and Minister<\/strong> responsible for insurance. He has guided us through significant challenges including five prime ministers<\/strong> and helped us navigate the complexities of the Covid<\/strong> period. He has been a wise owl<\/strong> and a voice of reason<\/p>\n thank you sincerely<\/strong> for your invaluable contributions.<\/p>\n The white smoke was recently signalled from the Sistine chapel \u00a0and we too will have a new Torch Bearer. O<\/strong>ne who has worked in Government, <\/strong>at Treasury, sat on the FCA<\/strong> consumer panel, been a Captain<\/strong> in the British Army and sat on the BIBA Main Board<\/strong> as our Independent Non-Executive Director.<\/p>\n I am delighted to announce that Caroline Barr<\/strong> is the incoming chair of BIBA, please give a very warm welcome <\/strong>to Caroline, <\/strong>the first female Chair of BIBA.<\/p>\n This completes the band line up<\/strong> for our New Era!<\/p>\n Well\u2026. what a new era<\/strong> we are facing. Compared to last year we have:<\/p>\n And on a lighter note:<\/strong><\/p>\n We have some brilliant new members join<\/strong> our Advisory Boards, <\/strong>as well.<\/p>\n And, tomorrow we will announce our new Young Broker of The Year.<\/strong> \u00a0I am also \u00a0pleased to advise we have had 70 new firms <\/strong>join the BIBA family <\/strong>this last year…<\/p>\n including members<\/strong>. partners<\/strong>. and associates.<\/strong><\/p>\n ——————<\/p>\n In this new Era.. we are facing new and fundamental changes in technology<\/strong>\u2026<\/p>\n we will hear more about that in our business session this afternoon.<\/p>\n AI<\/strong> has climbed up the list of worldwide insurance broker priorities. What has been seen<\/p>\n until now as a tool to assist<\/strong> firms, brings in fact, an entirely new dimension<\/strong> to our sector, as revolutionary <\/strong>as the introduction of the internet, and as my good friend<\/p>\n Simon Mabb<\/strong> from Assured Partners will tell you when he first used AI he said\u2026<\/p>\n \u201cit was like he had discovered fire<\/strong> for the first time\u201d.<\/p>\n You can read more about this in<\/strong> our new AI guide coming soon and explaining:<\/p>\n how AI helps brokers with:<\/p>\n and so much more.<\/p>\n In attempting to become an AI early adopter myself,.I asked Chat GPT to describe ME<\/strong>.<\/p>\n It was very generous in its description as a prominent<\/strong> figure in the insurance industry.<\/p>\n Influential<\/strong> and with extensive experience.<\/strong><\/p>\n It then said I had an approachable demeanour<\/strong> and polished approach\u2026\u2026\u2026\u2026<\/p>\n with neatly\u2026 styled\u2026 hair<\/strong>! So – I am not<\/strong> sure it is that<\/strong> accurate yet!<\/p>\n But please check out our new AI guide which will be on our website very soon. .<\/p>\n —————-<\/p>\n We have a record <\/strong>number of 17<\/strong> sponsors<\/strong> for this year’s conference – including:<\/p>\n principal sponsors Aviva and RSA.\u00a0 T<\/strong>hank you all for supporting the BIBA Broking family.<\/p>\n —————-<\/p>\n We have a new Manifesto for 2025<\/strong> – that the new insurance minister<\/strong>\u2026<\/p>\n Emma<\/strong> Reynolds<\/strong> memorably launched in the Houses of Parliament on her VERY<\/strong> first<\/strong> day in office.<\/p>\n And we are working closely with relevant government departments – to support their growth challenge.<\/p>\n Now today, I am delighted<\/strong> to launch our FIRST<\/strong> national<\/strong> Advertising campaign<\/strong> promoting insurance brokers to SME\u2019s.\u00a0 You may have seen it in today\u2019s papers!<\/strong><\/p>\n This<\/strong> is something that in my<\/strong> living memory has NEVER<\/strong> been done before in the UK.<\/p>\n We will be on SKY TV, <\/strong>on the radio, i<\/strong>n The Mail, the Sun, the Mirror,<\/strong><\/p>\n \u00a0<\/strong>\u00a0the Metro, the Daily Express, the Guardian<\/strong> and the Observer.<\/strong><\/p>\n We\u2019ll be on Spotify, relevant podcasts and social media<\/strong>.<\/p>\n I am pleased to say it launches right now with Ben the Broker!<\/strong><\/p>\n We aim to reach 33 million people<\/strong>. So please like and re-share<\/strong>…<\/p>\n and let\u2019s promote the sector like never before.<\/p>\n ————–<\/p>\n Now – moving on to everyone\u2019s favourite subject… Regulation.<\/strong><\/p>\n One of the things I value the most<\/strong> is a new era of relations<\/strong> between BIBA and our regulator – the FCA.\u00a0 You will hear from FCA<\/strong> Head of Insurance, Lisa Sturley<\/strong> – on stage tomorrow. \u00a0And you can visit her,<\/strong> Matt Brewis <\/strong>and the FCA team<\/strong> on their stand.\u2026<\/p>\n We have rolled up our sleeves and got around the table with the FCA and our members and we have worked closely <\/strong>and constructively – together.<\/strong><\/p>\n We have made detailed submissions to the FCA on a number of key issues including:<\/p>\n —————-<\/p>\n Our new Manifesto has a Chapter<\/strong> called \u2018Regulating for growth\u2019<\/strong>…<\/p>\n So check out the key asks on page 36.<\/strong><\/p>\n I am pleased to say, that for the first time ever the FCA came on all eleven legs of our regional tour <\/strong>meeting over 900 people.<\/p>\n And, like Arnold Schwarzenegger<\/strong> in The Terminator – they will be back <\/strong>this Autumn too! \u00a0– Their engagement with members on the tour was extremely beneficial for both sides – so please come along.<\/p>\n I also welcome that, for the first time ever… the FCA invited me to speak<\/strong> to the hundreds of people that make up their insurance team at their offices in Stratford<\/strong>.<\/p>\n I am so pleased to say that all of this close and constructive work with the FCA is now set to achieve better outcomes for our members \u2026. as today<\/strong> it culminates <\/strong>in the launch of a brand new FCA Consultation paper <\/strong>\u2026..<\/p>\n CP25\/12<\/strong> \u2018Simplifying The Insurance Rules\u2019<\/strong><\/p>\n And with the number 25\/12 it really does feel like an early Christmas present after so much work between<\/strong> BIBA, our members and the FCA<\/p>\n This new announcement today<\/strong> will help towards addressing so many of our key member manifesto points\u2026.. as they now formally consult on new rules to:<\/p>\n In addition<\/strong> to CP25\/12The FCA will be introducing a more streamlined reporting process<\/strong> as their CEO has confirmed to the Prime Minister\u2026.. and they have stated:\u2026\u2026..<\/p>\n \u201cWe are committed to reducing regulatory burden<\/strong> and acting proportionately. Supplying us with data is a significant task for firms, especially smaller ones. So, we are reviewing what information we ask for, ensuring we\u2019re only collecting what we need and will use.\u201d<\/em><\/p>\n Also in the last week we have seen FCA policy statement,\u00a0PS25\/3<\/strong>\u2026\u2026 on consumer credit regulatory returns,<\/p>\n I am pleased that they listened to feedback from us and others and have reduced the questions set on firms\u2019 credit broking activities.<\/p>\n BIBA will be hosting a round table<\/strong> between members and the FCA to progress the work on streamlining reporting.<\/p>\n The FCA has also worked with us on our request for faster Authorisations<\/strong>.\u2026<\/p>\n They have formally responded to us, setting out the improvements <\/strong>to be made, with a major programme of work underway to transform and move their Authorisation forms onto a new IT platform. \u00a0Importantly they will rationalise<\/strong> the number of forms required, improving the user experience.<\/p>\n I know our members will look forward to this new era of regulation!<\/p>\n That is the partnership<\/strong> this manifesto speaks of. That is the allyship<\/strong> I spoke of a year ago. And that is why you have a BIBA.<\/strong><\/p>\n This really is a new Era.<\/strong><\/p>\n —————<\/strong><\/p>\n I am DELIGHTED to welcome today, a record…<\/p>\n ONE HUNDRED AND FIFTY SEVEN International Delegates from around the world<\/strong>.<\/p>\n We are also joined by friends from our European Federation BIPAR <\/strong>and our World Federation the WFII. <\/strong><\/p>\n And I am pleased to welcome the Canadian BIBA CEO and former Canadian MP – Peter Braid<\/strong> – onto to the stage shortly, for the Geopolitical session.<\/p>\n ————-<\/p>\n So to our Manifesto where the <\/strong>\u00a0theme for 2025 is Partnering to Deliver Value<\/strong>.<\/p>\n Let me mention a few of the issues:<\/p>\n BIBA will continue to work with our insurer partners – and press ahead with our constructive work – together<\/strong>.<\/p>\n We will also continue with our commitment to the\n
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