Insurance Business – Award winner talks about ‘invaluable’ Lloyd’s trip

Valerie Baker Memorial Award Winner recounts London trip.

The winner of the Valerie Baker Memorial Award Belinda Scott of BJS Insurance Brokers has described her visit to Lloyd’s of London as “”invaluable””.

Scott met with London brokers and Lloyd’s first ever female CEO Inga Beale.

Here Scott recounts her trip:

“Lloyd’s of London is amazing in its history, types of risks and the sheer global underwriting expertise it offers. The broader London Market covers just a few blocks around the Lloyd’s building and I loved the close proximity of all the insurance professionals. There is so much more verbal, not just email, contact than exists in Australia, and ironically it appears to be more time efficient!

“I spent a lot of time with London brokers RFIB and underwriters Catlin and Atrium, which afforded me a fantastic insight into their specialist underwriting teams and their compliance operations. The information sharing was invaluable.

“At the Chartered Insurance Institute, I learnt how similar the issues that we face in Australia and the ones affecting the London Market are. Of particular note, are the soft, competitive market, remaining competitive with increasing compliance and training requirements as well as how to attract and retain good people. The ever changing world was seen as a common opportunity for new insurance products.

“I never imagined winning this award would provide me with such an educational experience. I can’t wait to bring this back to Australia and start using it to continue to grow our business.”