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The interview - Peter Blanc

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Open-access content Tuesday 4th January 2022
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New CII president Peter Blanc tells Luke Holloway about his plans for 2022

Peter Blanc is calling on the profession to work together to solve the unmet needs of society and show the public the true value of advice.

As Mr Blanc began his CII presidency for 2022, he announced the focus of his tenure would be uniting insurance and personal finance professionals to find solutions to bridge gaps in the market and build public trust.

“My callout is that professional brokers, financial advisers and underwriters should be working together to solve the unmet needs that exist today – everything from climate change and flooding to cyber risk, scams, later-life care and protection gaps. There is a huge array of problems in society for which insurance could form part of the solution. Now is the time for our profession to step up and emphasise the importance of advice.

“Insurance brokers and personal finance professionals know the importance of advice and our knowledge and guidance has never been more vital,” continues Mr Blanc. “All the drivers in society today tend to be away from advice – they are aiming to cut out the middleman and get the quickest deal at the cheapest price – but I worry that is not the right answer for the majority of the public.”

In the digital age, Mr Blanc says he understands people want cover quickly and simply, but adds that with more complex products, buying without proper guidance can mean customers will not get the outcomes they need.

“Insurance is essential. But we live in a world where so many things are changing that insurance is in danger of being left behind and not being relevant to people and industry,” he says.

“We would have a much better society if everyone who needed insurance was advised and assured they were buying the policy that was absolutely right for them. It is not about price or fees; it is about making sure the customer has a product in place that responds how they need it to.”

Customer focus

As group CEO of Aston Lark – one of the UK’s largest Chartered insurance brokers – Mr Blanc is passionate about the insurance profession but in his earlier days he was destined to become a doctor. A summer job at Legal & General made up his mind that university was not for him and he pursued a path in insurance rather than opting to enter the medical profession.

“I realised early on that I would be closer to customers if I moved into broking, so I quickly took that opportunity. I am an out-and-out people person. I get a buzz out of winning business, meeting clients and being part of an organisation that is always growing and driving to be better.”

An aspect of CII membership that Mr Blanc has always found hugely valuable throughout his career is networking and social events offered by Local Institutes.

“I am happy to begin my role as president at a time when we are moving from the virtual world back to face-to-face events. I am really keen to get around the country, meet as many members at as many local institutes as possible and get a dialogue going, so fellow professionals know and trust one another for the benefit of clients.

“It is very easy for the relationship between underwriters and brokers to become strained during a hard market. Having the opportunity to meet regularly through the channel of the CII is incredibly important. Each area of the profession cannot solve the unmet needs of customers on their own; we must collaborate and I feel the CII is the perfect forum to bring the profession together.

“If we have healthy Local Institutes where underwriters, brokers and claims professionals interact regularly, I believe we will have a stronger and more united profession.”

My aims as president will be to support the new CEO in any way I can while working to further the CII agenda in building public trust in insurance

Staying in tune

He also recognises that the CII is evolving and, as CII CEO Sian Fisher steps down in March, feels this is a key time for new leadership to make use of member feedback from the recent Shaping the future together consultation to shape the professional body’s future strategy.

“The CII has a wide range of members and it is vital we listen to the views of all of them. We must realise that every year, there are thousands of new talented individuals entering the profession for the first time and we need to be in tune with these young professionals to hear their views on where the institute is proving most helpful and where can we improve.

“You then have senior members in the profession with years of experience, who have seen the changes that have taken place at the CII and in the wider insurance market. And frankly, we have members at every stage inbetween.

“We need to reach consensus on what we as a profession want the CII to be during the next five to 10 years.”

Mr Blanc feels a new CEO will join the CII at an exciting time, with a clear mandate from the membership about the direction in which it should be moving.

“We are blessed with more than 125,000 members, including 40,000 PFS members, and with their valuable thoughts and ideas now being collated and reviewed, the CEO will have a great idea of the profession’s views,” says Mr Blanc.

“My aims as president will be to support the new CEO in any way I can while working to further the CII agenda in building public trust in insurance, and to make sure we are effective in solving unmet needs and underlining the importance of advice in society.”

Luke Holloway is editor of The Journal

Peter Blanc

Early days

In 2000, Mr Blanc led a buyout of FMW Risk Services Ltd, growing the business to £25m gross written premium before selling it to Oval in 2007.


Moving on

In 2015, he concluded a management buy-in of Aston Scott and then led the merger with Lark Group in 2017. 


Branching out

Aston Lark now has 1,700 staff across 60 locations, writing more than £1bn of premium and, in 2022, will become part of Howden Broking Group.

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This article appeared in our December/January 2022 issue of The Journal.
Click here to view this issue
Also filed in:
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Professional standards
Risk

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