60 Seconds with.....Gary Little
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GARY LITTLE HEAD OF KEY ACCOUNTS, ASSURANT INTERMEDIARY
How long have you been at Assurant Intermediary?
I joined in February. Previous to that I spent just over four years at HBOS as national accounts manager working with The Mortgage Business, BM Solutions and, after the merger, Lloyds Banking Group. I have been in financial services for 23 years and worked on both sides of the fence. I was a broker before joining HBOS which is an advantage in my current role as I can see things from a broker perspective and understand their issues.
How are you finding it?
I’m enjoying the job. We have big plans including the unveiling of a new platform in the second half of the year, and have steadily increased our business levels month-on-month. Of course, it’s tough at the moment but plans are in place to get business up to the sort of levels Nigel Payne was brought on board to achieve.
Are you concerned about the Retail Distribution Review?
That’s an interesting question. We did a survey recently and found that a lot of brokers feel the RDR is one of the main challenges facing them. So we’re trying to keep ahead of the curve a little. We understand the need to have standards and levels of training, and will be proactive in getting brokers to understand the concept of general insurance. The RDR is coming so we have to learn to manage it.
What other challenges are brokers facing?
Most brokers see market share attacks by direct players as the biggest challenge but the use of brokers remains essential and consumers still value face-to-face advice and expertise. Advisers must use their experience and knowledge to retain clients. And they need to keep a grip on their businesses by using management information from providers.
Are consumers more aware of the need for protection now?
Absolutely. The government spending cuts we are about to see could result in more job losses so there’s undoubtedly a growing need for protection. Our claims experience also shows there’s a need.
So what’s next for Assurant Intermediary?
We have a solution to launch which will help advisers compete in the direct space. We are also unveiling a new accident, sickness and unemployment product which will be underwritten at point-of-sale, as well as a product for landlords. We are well placed for this year.
