In this episode Sarah discusses all things regulation with Andrew Gibbons, Mason Owen Financial Services, starting with how regulation has a heavy influence in creating the culture of the business. Secondly, that the amount of paperwork brokers have to complete is impacting the time they spend on creating the best customer journey. Furthermore they talk about Consumer Duty, outlawing commission and how the FCA can continue to support brokers.
Quotes of the Episode
“This is an extremely rewarding career. In the sense that you get involved in everybody else’s business, you haven’t got a clue what’s happening from one day to the next in terms of what’s coming at you with unfortunate events that beset people. Some stories really, really good some stories not so. But you see innovation as it’s happening over the years.” Andrew Gibbons, Mason Owen Financial Services
Regulations involvement with the rest of the business and how it helps create the business’ culture
The impact of Consumer Duty and outlawing commission on brokers
How the FCA can continue support brokers and perhaps reduce the vast amount of paperwork
About the Guest
Andrew Gibbons, ACII, MIoD is currently the Managing Director of Mason Owen Financial Services Ltd, a predominantly commercial insurance broker based in Liverpool. He is an Associate of the Chartered Insurance Institute and a Chartered Insurance Broker.
Having joined Provincial Insurance in July 1987, he progressed through the group to become a Senior Account Manager following the acquisition by AXA Insurance, before taking up his current role at Mason Owen. He led a management buyout of the firm in April 2022.
He was Chairman of the Smaller Brokers Advisory Board (SBAB) of British Insurance Brokers Association (BIBA) between January 2015 and March 2020, having served BIBA at both regional and GIBC level. In addition, Andrew served as a member of the main BIBA board between April 2014 and March 2020 and is currently the Chair of the Industry Claims Working Group.
He is currently the Chair of Merseyside Youth Association Ltd, a youth charity in Liverpool and between 2016 and 2022 he served as a Trustee of the Vantage Multi Academy education trust in Bolton.
About the Host
Sarah Myerscough is the Sales and Marketing Director of Boston Tullis Group. The founder of The Insurance Brokers Podcast, she brings a wealth of experience and a fresh perspective on communication in the insurance sector. Boston Tullis works with insurance professionals to build effective communication both internally and externally through podcasting, event reporting, videography, and internal communications facilitation.