Probably without the panache of these lads from FC Stjarnan,

but whether you just breathed a sigh of relief or threw an all-night party it’s certainly a positive start to 2011 for all of us in the group risk market. The nightmare scenario of businesses, faced with huge liabilities, scrapping their group benefits altogether has been averted.

The Government’s decision should ensure that employers continue to make group risk benefits an integral part of employees’ welfare packages. With the prospect of the long-term dilution of state benefits, it’s all the more important that the Government encourages businesses to pick up the slack, and avoids regulation which will discourage group benefits provision in the workplace.

Collective thanks are due to the Regs team at GRiD for taking the case for the exemption to Government so effectively.

Wednesday 5 January 2011

Analysis – Aussie style

Tidying up my notes from a November conference in Sydney and pining for their coastal golf courses – they may be having horrible weather in Queensland but it’s still summer down there – I found a note I made of an exchange between two advisers. (Yes, they sledge at life insurance seminars too.)

When the speaker was challenged on his aggressive advocacy of straight-through processing and automated underwriting, he came straight back with “Look, why let an insurer’s poor process cost you money ?”

As we emerge from the Christmas/New Year hibernation into a new business year where adviser productivity will remain a big issue, have a think about what you and your support staff do in your processes. Questioning whether activities are just habits that are a by-product of the way this business is usually done and looking at where you can trim elapsed time and squeeze operational risk out of your business too may be a good way to start the year.

If you do what you always did, you’ll get what you always got. Wise words, mate.

PS This is the bit where I want you to watch our video to see whether our approach might be a help.