Blog: A 'new era', but some things remain the same
Terry Dyson, Managing Director - Engineering Insurance
properties.trackTitle
properties.trackSubtitle
"It's my favourite time of year again. As ever, I can't wait to attend BIBA next month and make the most of the fantastic opportunity to catch up with old friends and make new connections.
Unbelievably, I'm approaching my 40th year in insurance. A lot has changed in the industry since I started, but some things remain constant, and BIBA falls into this bracket. My first BIBA experience was a small exhibition as part of a one-day conference in Brighton – and fast forward to today and BIBA has grown to become the largest insurance event in Europe, bringing with it networking opportunities that insurance professionals can't experience anywhere else under one roof, year after year.
For me, BIBA represents the chance to spend quality time with broker, MGA and insurer partners to better understand their business plans, their hot topics, and importantly how we at HSB can help them and their business stand out from the crowd.
But as anyone who wearily walks the exhibition floor engaging in multiple conversations at BIBA will know, business doesn't just happen by chance. At a conference which attracts around 10,000 visitors, my HSB colleagues and I make sure we're planned and organised, with lots of meetings scheduled in to enable us to maximise the opportunity the conference represents. We can fit in more meetings over two days than we sometimes may be able to organise over three months!
Daring to remain different
The theme for the 2025 BIBA Conference is 'A New Era' which feels very apt given that the insurance landscape is ever evolving due to fluctuating market dynamics and emerging technological risks. However, some niche areas now require a level of expertise that has become the exception, rather than the norm.
Until maybe 15 years ago, major insurance brokers employed dedicated, in-house engineering specialists. These experts acted as trusted advisors within their organisations, ensuring technical knowledge was at the core of their service offerings. But over the years this expertise has gradually disappeared, primarily due to consolidation efforts across the industry.
I'm proud of HSB's difference as a specialist insurer and always look forward to BIBA to understand how we can help fill the knowledge gap by providing brokers with the technical support they may lack in-house. This can range from making the connections between more mainstream products, or where an engineering product can enhance the proposition and value for the customer. I also relish meeting the next generation of insurance brokers at BIBA and supporting them on technical engineering topics, whilst listening to their fresh perspectives and ideas on how together we can add value to our industry.
A new era where the same values are needed
You can often trace an opportunity back from one of those scheduled meetings, or an informal conversation on our stand where a new relationship started at BIBA. In a 'new era' characterised by increased digital interaction online the conference offers a reminder that face-to-face communication, where understanding is formed and trust is gained, remains the best means of nurturing valuable, long-term working relationships and friendships.
As the insurance sector continues to consolidate, the importance of education and support in ensuring that brokers and their clients remain aware of the value of specialist insurance cannot be understated. Equally, it's crucial for insurers to stay close to their broker partners, sharing expertise and keeping them informed about market changes and emerging risks so they are equipped to proactively manage their clients' risk portfolios.
In this wonderful but demanding world we now live in, everyone is so much more time pressured and needs a quick answer to everything. BIBA provides an unforgettable occasion to get things done, through being approachable, accessible and ultimately being easy to do business with.
I'm looking forward to seeing some familiar faces and enjoying a busy, and productive two days. See you at the conference!"