This Bank Holiday Weekend we take a quick look at how to make regulatory training a bit more interesting, plus the broker deals just keep on rolling along. Let’s get into it before you join that 10-mile tailback on the M5.
START: GAMIFY YOUR ESG BRO’
No, that isn’t the latest COD gamer slang, but a cool idea to make staff training a little less David Brent when it comes to ESG, or Environmental and Social Governance. Those three letters are now an integral part of broker reporting, insurer supplier checking and much more, so yep, we have to learn all about it.
One way to do that is to make it a game, which KPMG and Attensi are doing via a new partnership. Basically, as you train you get rewards, post a score on the company leader-board and so on. It just got us thinking that all kinds of insurance-related learning could become a game and what better way to engage your staff than offer a weekend break, cinema tickets, dining out vouchers etc. as part of the deal?
RUN: BROKER EMPIRE
GRP made another buy this week, as Higos bought Web Shaw down in Penzance. Meanwhile Talbot Jones bought March Insurance, based in North Wales. It’s debatable whether independent local brokers can stay that way in an increasingly global world, where people shop online for every type of service and expect claims to be settled by a messenger app.
By the way Clyde & Co sent IE mag a snapshot of global M&A activity in the insurance sector over the last six months or so. There’s a link to their report in the story here.
GROW: LATERAL THINKING ON ELECTRIC CHARGING
The campaign to persuade UK drivers to buy or lease an electric car seems to be working. IE went to the revived British Motor Show last week and the interest in EV vehicles was huge.
But it does take a few hours to get a bit of juice in the batteries, and not everyone has a driveway to fit a charging point. One solution is to use a network of home charging points, a bit like the AirBnB model. Users can check where the nearest space is, cable up, power up and then head off on their journey.
On an insurance note, there is an opportunity here to offer homeowners some extra cover to run their ‘side-hustle’ business safely. People might trip on the driveway, or during a frosty spell an EV may fail to stop and collide with the garage door or charging point. Lots to think about in the new EV sector, loads of opportunities for brokers and MGAs alike.
AND GROW: IS REDUCING EMISSIONS ALL HOT AIR?
News from Swiss Re this week as they partner up with Climeworks on industrial scale CO2 emissions. Basically, this tech is like a catalytic converter for air; you suck carbon-polluted air into a storage tank, apply sunlight in a photosynthesis way, then release the purified air and store the CO2 gas underground.
The benefit to the planet is obvious, but there is another benefit to insurers and brokers. By signing up to share in the investment that creates such new tech, you boost your ESG credentials and that’s a smart move when it comes to company reporting.
Have a great weekend, see you in September.