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What the Phygital?! Quick wins from hybrid advice

25 October 2021

The best way for insurance intermediation to thrive is for stakeholders to leverage technology to bring advisers and brokers closer to their clients, even if this means offering them a complex combination of human and digital interactions. Omni-channel distribution that allows customers to interact with financial services providers (FSPs) entirely on their own terms may be a ticket to play nowadays; but that does not mean that human touch is redundant. These were some of the observations shared by Howard John, CEO at Brolink, during his graveyard shift presentation to the 2021 FIA Virtual Advice Summit.

Toughest period for financial advice in many years

18 October 2021

Are financial advisers, brokers and agents resilient and relevant enough to thrive today? What about tomorrow? How have we adapted advice strategies under the current challenging political, economic and social circumstances?

Insurance brokers: Between a rock and a hard place

12 October 2021

South Africa’s financial intermediaries face an uphill struggle in managing their own liability risks due to market forces that are largely out of their control. The liability market is influenced by a range of complex factors, further complicated by the rising frequency and severity of losses and claims that typically span multiple years. A panel discussion at the 2021 FIA Virtual Advice Summit set out to demystify liability and the capacity in the market surrounding liability insurance, as well as to reflect on the growing advice-related liability exposures that advisers and brokers face. The overarching objective was to promote sustainable, broker-led risk transfer and risk management for the end-customer, the insured.

The human side of advice practice mergers & acquisitions

11 October 2021

There are three ways to build a mega-financial advice practice… You can grow your business organically over decades; you can accelerate your growth by merging with practices of similar mindset and size; or, assuming you are a heavyweight financial services provider (FSP), you can acquire advice practices that meet your shareholders’ needs. FAnews frequently interacts with FSPs who are on the hunt for books of business, especially in the short-term commercial space. So, if you are considering an exit from your commercial short-term practice, we encourage you to get in touch with us for a possible introduction.

quick poll

Question

If I were tasked with taking my firm’s customer experience (CX) to the next level, I would:

Answer

Bake human into the mix Integrate CX into KPIs Map the full value chain Respond to consumer feedback

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