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BGL discusses future of industry at inaugural Insurer Conference
Immediate release: 01 June 2010
The BGL Group held a conference at the Four Seasons Hotel in Hampshire on Tuesday 25 May, bringing together 100 representatives from 32 of its insurer partners. The purpose of the event was to explore the future of the personal lines market and discuss opportunities to enhance insurer-intermediary relationships.
This was the first time BGL has addressed insurers at a joint forum. The agenda included a session by Stephen Regan, Professor of Economics at Cranfield School of Management. Stephen presented a synopsis of the insurance industry today and his thoughts on how it could develop in the future. He focused on the role of collaboration in driving greater value in the industry.
In developing the conference, the BGL Group sought insurers' feedback on current issues and their perceptions of the Group itself. A core part of the agenda focused on responding to these views. BGL also provided some insight into its views of the future, from harnessing the power of aggregators to the potential to sell insurance via new technology such the iPad, or even targeting consumers via their 'virtual' life online.
Matthew Donaldson, BGL Group Director, said: "As Stephen Regan outlined in his session, the personal lines market is at an important turning point. It's a highly competitive space, and challenging for both insurers and brokers. Ultimately, we feel that there is mutual benefit in building deeper and more collaborative partnerships with our insurers, and this event was an important step on that journey."
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