The British Insurance Brokers’ Association (BIBA) has announced that it will review its Board governance, segmentation of membership and commercial activities following a strategic review carried out by Deloitte. Having "one voice" for the sector by working effectively with other associations, strengthening resources and creating a member code of conduct make up the key workstreams identified in the report.
The report was presented to the BIBA Board who unanimously agreed to form a steering committee and timetable for consultation and further analysis, in consultation with members. The report follows Deloitte’s review announced in May 2012 and in-depth consultation with members, industry and key broker stakeholders including politicians and regulators.
Andy Homer, BIBA’s chairman, said “The report was generally very positive but it has identified some key points that we need to review and possibly strengthen in order to be in the best shape for the future. BIBA has been around since 1977 and times have changed so we need to reflect this and ensure BIBA is as strong as it can be to represent members during these challenging times, and in the foreseeable future.
Extensive consultation and discussion with all groups of members will now be carried out, it’s an inclusive review and all members will have a voice. This is an important review and we are going to take time to speak to members and make sure that we get it right.”
A series of regional meetings with members to describe and discuss the workstreams will be arranged to take place over the next few months. Members will be kept informed via the BIBA website and an update provided at next year’s BIBA conference in London during May.
Eric Galbraith, BIBA chief executive, said “I’d like to thank everyone who has contributed to the review so far. I’m confident that this strategic look at BIBA will build on all the positive work that the team has carried out and will put BIBA in a strong and robust position to move forward and develop for the future.”
The strategic review was launched in May 2012, when Galbraith said that the review programme was needed in order to ensure that BIBA is a leading association in the 21st century. Deloitte were selected to conduct the independent review based upon their highly developed knowledge and insight into the UK insurance market.
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