National Insurance Brokers Association President Nick Cook says intermediaries will be “challenged across a number of areas” during his tenure, and the sector needs to be on the front foot as the landscape shifts.

Mr Cook, Steadfast’s Australasian networks, broker and insurer services EGM, took over from previous NIBA president Gary Okely last week.

He told insuranceNEWS.com.au the theme of this year’s NIBA Convention, “shaping change”, is timely.

“The caution here is that we can shape change ourselves or have our change shaped by others.”

He says challenges facing brokers include availability and affordability of personal lines cover, increased competition in mid-market and corporate sectors, generational change and succession planning, and the industry being “at the political front of mind, with both parties seeing insurance as a platform”.

Mr Cook says politicians would do well to listen to brokers.

“While there is growing political awareness of the cost and availability of insurance, brokers have been managing this for years with their clients, capacity partners and communities.

“This is where NIBA shines. We are the one voice of insurance brokers. The simplicity and power of this cannot be underestimated. Whether it is government, business or community, we speak as one voice, so reach out to us.”

Mr Cook paid tribute to the efforts of Mr Okely and CEO Richard Klipin.

“NIBA is in a really good place. This means we can build upon the great work carried out to date.”

He says the code of practice review and amplifying NIBA’s voice further with key stakeholders in politics and business are among key priorities.

He also wants to engage more with brokers based beyond the capital cities.

“Brokers are now more geographically spread than ever, so I want to see NIBA move broader than the capital cities and engage more with brokers wherever they may be.

“Brokers have a voice wherever they may reside, and we will be hearing that voice.

“I also want us to hear the voice of the next generation of insurance brokers ... We are seeing a huge generational shift taking place across broking and our wider society.

“The expectations on broking and NIBA will change, and we as NIBA need to ensure we stay at the forefront of that change by listening and having meaningful engagement across all demographics of the NIBA broking profession. NIBA is about ensuring change is shaped for brokers by brokers. We will determine our future as insurance professionals.”

From the latest Insurance News magazine: How NIBA chief Richard Klipin is ensuring brokers' voices are heard in the corridors of power