041: COVID, Brexit and tech transformations in Lloyds - with Andrew Sparrow

<p align="justify">On today's episode, we’re excited to be chatting to Andrew Sparrow, Managing Director of Fidentia Insurance Brokers. Andrew has a long varied history in the insurance market and we’re particularly talking about the impact of COVID, Brexit and the technology transformations happening within the Lloyd’s market.</p> <p align="justify"> </p> <p align="justify">LEARNING OBJECTIVES:</p> <ul><li> <p align="justify">Identifying the niche areas of business has been fundamental to the growth of our business over 7 years.</p> </li> <li> <p align="justify">This last year has meant that the insurance industry has been focused on defending and retaining rather than new business.</p> </li> <li> <p align="justify">When dealing with binders, you will find that these are better placed in the Lloyd’s market where there is a wider appetite for specialisms.</p> </li> <li> <p align="justify">Lloyd’s market is known for being a bit behind the times and slow to react so the digital transformations they are working hard to introduce will be interesting to watch.</p> </li> <li> <p align="justify">Strategically planning for Brexit has been an achievement for Fidentia – it could have had an enormous impact on the future of the business.</p> </li> </ul> <p align="justify"> </p> <p align="justify">BEST MOMENTS:</p> <p align="justify">‘’We have felt that there's been a kind of a move in the London market in particular with individual’s kind of feeling a bit disaffected with a large broker environment, probably preferring to try their luck in a smaller medium sized London broker/Lloyd's broker, so we've benefited a bit from that.’’</p> <p align="justify"> </p> <p align="justify">‘’We've probably needed to have more of a clear-cut strategy, and I think whilst we've grown well, we're looking at that as something we need to practice and adopt a more structured and strategic approach.’’</p> <p align="justify"> </p> <p>‘’…We do have binders in the company market space, but you tend to find that you have to work