MESSAGE FROM THE CHAIRMAN
As my official term of office is shortly to expire and a new chairman be formally appointed, I thought it might be nice to reflect on my two and a half years in office and what I hope will be seen as my legacy.
First of all I would like to say how much I have enjoyed my time as AMII chairman and it rates as the busiest time I can remember. During that time the Executive Committee and I have worked on many important issues, but among the most important of these must be the AMII/CII (Chartered Insurance Institute) examination which has been in the planning stage for most of that time. I hope the examination will be appreciated by the membership and also benefit the industry for many years to come.
One of the other initiatives I have enjoyed being part of very much is the AMII/BIBA (British Insurance Brokers Association) joint Private Medical Insurance Panel that has just started to come to fruition. We are talking about important issues that concern our industry in a very constructive way. It has been very rewarding for me to sit around the table with all the major insurers and our friends from BIBA. Some of the issues we have discussed and hopefully solved are standardised documentation and ease of transfer of certificates on SME schemes. I feel this panel has a great future and is a very effective platform for insurers and the distribution organisations to move this great industry of ours forward.
However, one of the most important decisions I made during my chairmanship was tackling the issue of continuity of strategy between chairmen which could have been an issue for the long-term development of the Association. So I think one of the most important decisions I made was to appoint a general secretary to aid the chairman of the day and plan the forward strategy of the Association. In this way I think the current incumbent Michael Payne is one of the most skilled people in this role, so in conjunction with him and our new chairman, Andrew Tripp, I feel that the Association is in good hands for it to prosper and grow in the future.
As for me, I am going to take it easier and merge into the background, but I will only be a phone call away if Michael or Andrew require any support. I wish all the members well and look forward to catching up with them at future meetings.
More details at www.amii.org.uk
|28 APRIL 2010||AMII AGM AND FORMAL LAUNCH OF AMII/CII PMI QUALIFICATION|
1 JULY 2010
AMII ANNUAL EXHIBITION AND CONFERENCE
MY FIRST YEAR IN PMI
AMII members tell us about their careers in health insurance
Steve Grant, consultant, Premier Choice Healthcare
When and how did you start working in the PMI market?
I started working in the private medical insurance market in October 2009. As a consumer of PMI for many years, both from an individual and a corporate point of view, I have always been interested in the market. Having been on the other side of the fence in arranging corporate schemes for health and protection purposes in companies I have worked for, I am a firm believer in the benefits of PMI.
What prompted this move?
Working in a business consultancy capacity since 2007, I found myself with, on average, two days a week free. I wanted to develop a business that I could build to allow me the flexibility to determine how and when I work, and to provide the basis for a growing residual income for the future.
How did you market yourself in the first year?
I have concentrated on building relationships in a number of ways. First, I let family and friends know what I was doing, and secondly I have actively used networking groups to promote my services. I target individuals and SMEs, offering a no obligation “free health check” on their health cover. I have also established relationships with IFAs for client referrals, and with a local chain of pharmacies to advertise my services and the benefits of PMI.
Looking back, did you make any mistakes in the early years?
Early days to look back, but I have probably spent too long with clients by presenting too many options to allow a quick decision. I now recommend fewer choices. I have also found some of the paperwork required by the different insurers to be confusing which has led to delays, but thankfully, no show stopping problems.
How has the industry changed since you started?
Once again, I feel I have only been in the industry for less than the blink of an eye! However, my own finance and accounting background makes me feel comfortable with the initiative to improve professional standards, and as such I welcome the proposed qualification requirements for PMI sales people.
How has your role changed since you started?
I am still developing my approach. I take great personal satisfaction in providing a service to my clients in sourcing the most appropriate and cost effective policy to meet their needs, often saving substantial amounts of money. I have also started to focus on how PMI and protection polices for SMEs can provide tax efficient, employee motivating and absence management schemes for the benefit of the business.
Where do you see your career in PMI leading?
I enjoy discussing clients’ needs and seeking innovative ways to ensure the affordability to continue PMI cover. I want to develop a holistic approach to my SME clients by providing not just PMI, but all aspects of income protection and employee assistance programmes schemes.
If you weren’t doing your current job, what ideally would you be doing?
I’d be playing golf as a professional – earning money for something I love to do! Reality is, carry on working!
What is your retirement dream?
Enjoy good health, travel often, and provide for my family.