Biba 2011: My Manchester Q&A - Part Two

To give you an idea of what to expect we asked Ken Carmichael, underwriting manager mid-corporate and Paul Mundy, trading underwriting manager, Axa Commercial to give us their thoughts on the local marketplace.

1) What would you say distinguishes Manchester from other UK insurance markets?

PM: It used to be harder to make money here because of the manufacturing industry legacy ... and I think that's resulted in a market that's a bit edgier. Things have moved on clearly and we've now got all sorts of business here - but it's the mix of solid insurance companies, aggressive brokers, good independents that set it apart.

KC: I'd say tenacity, professionalism, a can-do culture and experience

2) What have been the most notable changes in the local Manchester insurance market since the Biba Conference was here in 2009?

PM: Difficult to say across the board but from AXA Commercial's point of view, we've worked on building up more tripartite relationships to help us make inroads into new professions.

KC: There's been a notable increase in the number of players here - it's definitely an enlarged market.

3) What are your views about the role of social media in insurance and will you be tweeting from the conference?

PM: It's gaining momentum but I'm afraid that I'm old school I suppose ... my idea of social networking is having coffee with someone and not tweeting. Insurance is a relationship business and you generally fail if you get that side of things wrong. In my view, you can't create a proper relationship virtually - you need that face-to-face contact.

KC: Social media has its place and will change the market over time - however face to face discussion and agreement will never be replaced for the important risks. As for tweeting, if Lord Sugar shows me where this is on my Amstrad, I will give it a go.

4) Lord Alan Sugar, star of the Apprentice, is one of the keynote speakers at the conference. With this mind who would you most like to tell "you're fired"?

PM: Sir Alex Ferguson

KC: Lord Alan Sugar

5) The 2011 Biba conference is titled "Opportunities in Adversity". Where do you see the most potential in the Manchester insurance market between now and 2013?

PM: Probably in contractor's casualty and property owners. There are a lot of brokers up here with strong property owner books of business, and they're all telling us that their clients have got cash and are gearing up to take advantage of the current market.

KC: Realism in rating against exposure which will assist the whole market and make it stronger in the long term.

6) The BIBA Conference should be Manchester every year because?

PM: It's cheaper than London, it's a major insurance centre, it's used to hosting major events, it's got great transport links and it's a fun place to be - the ideal location for Biba.

KC: It's a 24 hour city - if it's not here it doesn't exist.

To read how other local industry figures from a raft of insurers and brokers including Allianz, Aviva, NIG, Chartis, LV, Groupama, Carole Nash, CCV, Swinton, Bridge and Arista responded to these questions. Plus all the latest news and views from the Conference, remember to pick up your Biba Daily on Wednesday and Thursday.