The London Market should speak with a single voice otherwise it risks missing opportunities in several key areas, including – engaging with the government, attracting the best young talent, implementing new and better technology and how the industry is perceived in the public domain.
This was the message delivered by Steve Hearn, Chairman and CEO of Willis Global, at the Xchanging London Market Summit, on Tuesday, November 6.
“London’s unique character and long history as a financial centre means that it is known the world over as a centre of excellence for international insurance,” said Steve. “However, it’s my belief that – while we do have many different trade associations all of whom bring tremendous assets to bear for us – we don’t align our interests in the right way.
“Imagine how much easier it would be to transform market processes, to influence the relevant decision makers and policy writers that affect our industry and to maintain higher professional standards if we had a single forum embodying the entire industry.”
Follow this link to watch a YouTube video of the whole speech or use the player below to listen to the podcast.