Not quite like Game of Thrones , but still fascinating, has been the attention given to the royal commission into Misconduct in the Banking, Superannuation and Financial Services Industry, aka The Royal Commission.
This has led all sensible organisations to mull over the impact of the findings into their respective organisations, including the insurance broking world. Not least of which is around company culture.
We’ve seen some sub-ethical practices, ranging from the seemingly justifiable to the unthinkable!
- selling products to people who don’t understand what they are buying;
- selling services to clients who don’t need them; and even
- charging fees…even when the client has died
What permits or even drives this behaviour? Jenny Haddad of Spring Business Consulting believes the answer is, company culture, “Specifically, a culture which says: Profits matter more than ethics and people.”
She says, “If culture allows us to turn a blind eye, then culture can help us to create an environment where general insurance intermediaries can be valued and trusted advisers, instilling loyalty amongst clients and colleagues.”
In a post-Royal Commission world, being a trusted adviser matters more than ever, and it is not simply technical expertise. The NIBA Convention session, ‘Engaging clients in a post-Royal Commission world’ with Haddad, will shed light on the best way to move forward and opportunities that arise from the current situation.
Apart from dealing openly with clients, Jenny Haddad will outline some key qualities to help you know that you are a trusted adviser in the insurance broking profession.
Catch Haddad from 12:10pm at the Concurrent Sessions on October 15 at The Star Event Centre, Gold Coast.
No, winter does not have to come when it comes to the impact of the Royal Commission on engaging clients!