The British Insurance Brokers’ Association (BIBA) has revealed the first recommendations of a strategic review that aims to make it “a top-tier trade association capable of meeting the challenges of the 21st century”.

BIBA will become better at explaining “who we are, what we do and the value we bring” and listening to members via a “structured program of regional visits”, new CEO Steve White told the annual conference.

The association will change the way it segments its membership, with five new groups that have been endorsed by the board: companies in the north with a turnover below £1 million ($1.56 million); companies in the south with a turnover below £1 million; companies with a turnover above £1 million; networks, aggregators and managing general agents; and UK nationals, London market and international members.

BIBA’s governance is also under review, with a proposal for a main board with 10 to 12 members, supported by five advisory boards in each member segment and a regional advisory board.

Board-level restructuring will “better reflect the segmentation of our membership”, Mr White says.

BIBA will also strengthen the public affairs and regulation areas of its executive team.

It plans to introduce a code of conduct after members called for the association to “play a more active role in raising standards”.

This will help BIBA do its part to restore “trust and confidence” in UK financial services, Mr White says.

The proposals are subject to consultation and approval at an extraordinary general meeting.

Regulation remains a focus this year, in which the Financial Conduct Authority has taken over regulation, progress is expected on the EU’s Insurance Mediation Directive and the Consumer Insurance Act will be introduced.

“We will move up a gear on our work in Europe to ensure we fend off inappropriate directives that threaten our competitiveness,” Mr White said.

“We want enterprise to flourish and so will be lobbying for fairer, more proportionate, cost-effective regulation for our low-risk sector, which does not stifle enterprise.”

Mr White recently took over as CEO from Eric Galbraith.