Gallagher’s Simon Matson welcomes LIIBA’s focus on international opportunities

Simon Matson, CEO of insurance brokerage Gallagher’s UK broking and underwriting business, has welcomed the focus on international opportunities laid out in the 2020 agenda of the London and International Insurance Brokers’ Association (LIIBA).

“This is an incredible time to be a broker in the London Market, and the sheer range of topics on LIIBA’s agenda is a testament to that,” he said.

“We all want London to be a leading market for our customers all around the world and trading opportunities internationally are key to that – both through Brexit and beyond. LIIBA has been necessarily proactive in talking to regulators and governments, both in Europe and elsewhere, and helping them to understand how London works. This should pay dividends as global trade discussions really get going.”

Commenting on LIIBA”s ongoing commitment to electronic placement, he added: “As a broker, our first priority is always about being the advocate for our customer, so we are absolutely supportive of market developments and changes that will ensure we can continue to enhance how we provide our services to our customers. That’s why we are active supporters of electronic placement. Sixty six percent of our London Market business traded through PPL in December and we are really beginning to see the benefits of that shift to electronic placement, not least that it allows our teams to refocus the time they save back on their clients.

“So in that respect, PPL has been a significant step forward. Harmonising and standardising how we process quotes is to the whole market’s benefit and why building on this further with the Future at Lloyd’s is right to be high on everyone’s agenda. The emphasis now needs to be about make PPL the primary transaction platform for quoting business rather than brokers waiting for a firm order to come in and then back-filling. PPL will have been truly transformational for the London Market when electronic placement becomes the norm.”