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With short-term insurance provider Momentum Short-Term Insurance’s (MSTI) national road show getting on the way this month, there are many new offerings that await brokers attending one of the nine shows.
While the short-term insurance industry is seemingly healthy, gauged by the competition in the market and the newcomers into the market, it is clear that the industry is going through some uncertain times.
A harsh legacy of the 2009 financial crisis was that global economies would never be the same again. This had a significant impact on financial services industries which had to come to terms with this new world. Costs were increasing while profit margins and new business were decreasing. A fresh approach was needed to ensure the sustainability of the industry.
The retention of skills and the industry’s inability to attract an influx of new skills is seen as one of the biggest challenges that the industry currently faces. But while the industry and its stakeholders spend a lot of time highlighting this as a challenge, what is being done to resolve it?
Do you think short-term insurance broking will survive the AI plus humanoid robotics age?