June 2009 Archives

PB Week: A guest blog from Derek Plummer

| 2 Comments

During the week, I stay at my flat in Reading which is a very short and pleasant walk along the Thames to the office, writes Derek Plummer, commercial director at MMA Insurance.  I drive down from my home in Norwich on a Sunday evening ready for an early start on Monday.

 

Monday is usually a meeting day and therefore rather internally focused. First off is the weekly forum involving the heads of my teams. This is a catch-up on how the company is progressing against target where we review trading figures and performance and gauge response to our latest broker marketing campaign. Then I meet my direct reports 1-2-1 and work with them on planning the week ahead and what needs to be achieved.

 

Tuesday was a chance for me to review the latest advertising campaigns with the marketing team and then meet staff in my division - valuable feedback in gauging how they are feeling about the company's progress.

 

The Belfry

On Wednesday, underwriting director John Seaton and I travelled north to The Belfry for the next in our series of broker road shows. We spent that evening setting up the venue and rehearsing our presentations.  Valuable time for John and I to discuss a whole range of trading issues.

 

We started early yesterday with a wistful look at the magnificent golf course and a final briefing, lead by our chief executive Garry Fearn, for the MMA team which included our Birmingham colleagues who joined us for the roadshow. We then prepare for the 100 or so brokers we're expecting. After a full rehearsal at 9am, we kicked-off at 10am, I strarted with an overview of MMA, with John then explaining our underwriting philosophy and our approach to bespoke and micro SME. A break for coffee then networking, distribution strategy and a final Q&A session before lunch, giving me the opportunity for some more detailed conversations with 10-12 of the brokers attending. The event has been very well supported so we left in the afternoon feeling pleased with the results and the contacts we've gained. I travelled straight back to Reading, John remaining a little longer to spend some time in Birmingham with his regional underwriting team.

 

Directors

Today is our regular executive directors meeting chaired by chief executive Garry Fearn where we update each other on our respective areas of responsibilities and discuss strategic issues. This is  followed by a meeting of our risk committee, which involves some of my colleagues from MMA in France, who come over to the UK on a regular basis, and our UK non-exec directors. Overall we're pleased to report that progress is being made on our risk management programme and FSA relationship.

 

Finally, I take to the road around lunchtime for the drive back to Norwich, trying to avoid spending too much of the weekend trapped in traffic jams on the M4, M25 and M11!  It's often a four-hour drive and after five years of doing it I feel I know almost every blade of grass growing beside the motorway. A time for reflection on the week and to catch up on those never ending telephone calls!

 

Then a time for me to chill until Sunday evening when my working week begins again...

 

Comment

To comment on this blog please post below or e-mail pbeditorial@incisivemedia.com

PB Week: Incredible year for insurance marketing

| No Comments
 

Insurance is exciting; it hangs out with the stars; supports the biggest and best football teams; has created a new character that has captured the hearts of the nation and parties with the odd rock star. Andrew Tjaardstra, editor of PB, writes about decision by Aon to replace AIG as the sponsor of Manchester United and the launch of Aviva.

Aon and Man U

Aon's decision to sponsor Manchester United, replacing AIG, has shocked the insurance world. Since when does a commercial insurance broker have the nerve to be so high profile and so confident with its money? Vodafone, yes; AIG, possibly, but Aon? No details were announced but is thought to be one of the most expensive sponsorship deals of all time with reports suggesting that £20m is set to be spent by the broker each year for four years. Although we will have to wait until next year to see Manchester United's shirts with Aon's logo, as the AIG deal runs it course.

Aon should be congratulated for finally putting commercial insurance broking on the map, but it is a shame they had to wait until the worst economic crisis in a generation and at a time when it is cutting back its pension contribution. David Gill, the United chief executive, appears to know Aon well as he commented at the announcement of the deal: "We are delighted to be entering such an important relationship with a company of the stature of Aon and to have its logo adorn our shirts from the start of the 2010-1 season." Although he would say that given how much Aon is about to pay his football club. "It is a unique opportunity when two leaders in their respective fields can come together in a partnership such as the one we are announcing today," added Greg Case, president and chief executive officer of Aon.

Norwich Union . . . Aviva

Aviva is still in the middle of the largest rebrand of all time, and its latest set of adverts tells us the company is being built around . . . us. Aviva has made a splash and it appears unrepentant about the money it has spent. In a world where we are bombarded with images left and right centre standing out above the crowd is so much easier with pots of money and some high level celebrities or football clubs, or indeed something like a Meerkat.

Despite the economic climate, many marketing executives in insurance are still enjoying themselves with the chief executives apparently increasing rather than decreasing their budgets. Good luck to them.

Comment

If you would like to comment on this blog please post below or e-mail pbeditorial@incisivemedia.com

 

About this Archive

This page is an archive of entries from June 2009 listed from newest to oldest.

May 2009 is the previous archive.

July 2009 is the next archive.

Find recent content on the main index or look in the archives to find all content.