What are the threats and opportunities in the broker marker right now? Rob Worrell, CEO of Ardonagh, discusses this and acquisitions & if there are gaps in the range.
Video Image
Duration
2023 - 00:04
Recorded Date
Monday, June 12, 2023
Transcript
<p><strong>Speaker 0</strong>:
<span>I think the pace of acquisition is Phil Bales has talked about a regular drum beat and I think there will be a regular drum beat. But, uh, so we have a very active pipeline. We have lots of great conversations ongoing, and we have a lot of detailed due diligence already in place. So yeah, I expect it to at least continue this pace and maybe even pick up.</span></p>
<p><strong>Speaker 0</strong>:
<span>I don't think we have got a focus on high net worth. We have a focus on becoming the best business that we can be,</span></p>
<p><strong>Speaker 0</strong>:
<span>and high net worth will always be a crucial part of that strategy. But all of our all of our acquisition is about building capability, specialism capacity, continuity. There's always a reason for everything we do. So I wouldn't worry too much that there's a particular focus on the high net worth and there is a particular focus on improving our offering to clients. That's the core thing,</span></p>
<p><strong>Speaker 0</strong>:
<span>gaps in our range. No, I wouldn't have said so I think we've got a wonderful portfolio of businesses. So you've mentioned the Stan Hope Cooper, the renovation underwriting the pace wards that their recent ones but If you look at what we've been building with things such as Stallard, Kane, Lari Thompson and Brian it it's all about</span></p>
<p><strong>Speaker 0</strong>:
<span>specialisms. So we've got wonderful facilities to meet the current needs of clients. I think our challenge is to predict the future needs of clients. So as risk evolves, then we'll continue to drive acquisition into specialisms things. For example, life, science, renewables all, all things that may mean that we can really keep abreast of that client requirement. Client need</span></p>
<p><strong>Speaker 0</strong>:
<span>People do these classic SWAT analysis of our profession and our sector,</span></p>
<p><strong>Speaker 0</strong>:
<span>and at any given point in time they change. But But I</span></p>
<p><strong>Speaker 0</strong>:
<span>the threats and challenges we're here to serve. We're a people business, and the client will always choose who wins. So you need all brokers need a very broad proposition, and it's got to be a risk managed consultative approach to the client. You need all of your digital enablement, your access to data. All those things that were deemed specialists are now more of a hygiene factor in the progressive business,</span></p>
<p><strong>Speaker 0</strong>:
<span>and then you go back to the old fashioned things that is service. So our insurer partners play a part in that the emergence of M. G. A s are picking up specialism and service requirements. So the threats are that we underserve our clients. Um, and I'm determined that we don't do that.</span></p>
<p><strong>Speaker 0</strong>:
<span>Firstly, Bieber, the conference is a really vibrant environment and a great time to meet, uh, colleagues and our our sort of insurer partners and mainly for me, as a sort of very frustrated independent broker at heart, all of our sort of network members. So it's always a stand out thing for the people meeting the people. But I think the emphasis on</span></p>
<p><strong>Speaker 0</strong>:
<span>diversity and inclusion and the champion of the young, the young people coming into our profession, that's all been very exciting. I've tried to, uh, try to make myself available for a few words of wisdom and a bit of coaching and mentoring to to the youngsters, Really. But, uh, but to all but particularly it's nice to see the youngsters</span></p>
Tags
Companies
Select Player
Media Manager 3
Video ID
832aeb03-d332-461d-a0c0-4bc3c02a72e6
Structured for CPD
unstructured
Primary Channel
10001382
Select Info Type
Company
People
Contact Info Company
Add Preroll
Core Video ID
762
Owner
Hide Contact Me
Archive Date
Monday, June 12, 2023 - 12:00
Player Subscriptions
Site Player
Activation Dates
Monday, June 12, 2023 - 11:45 to Wednesday, June 12, 2024 - 12:00
Active
Site Player
Activation Dates
Monday, June 12, 2023 - 11:45 to Wednesday, June 12, 2024 - 12:00
Active
Job Number
1437
Allow Player Embed
Skills And Abilities for CPD South Africa
Destination
Right of the video
Downloadable
Disable Quiz
Turn off reflective statement button
Auto Transcribe
Hide Transcript
Promote Event on Primary Channel
Video ID (MM3)
832aeb03-d332-461d-a0c0-4bc3c02a72e6