Article in a snapshot:

• What does Brit’s A&H offering look like?
• How is the A&H market evolving?
• What are your clients most concerned about?
• Why does wellbeing matter as much as crisis cover?
• What role does Lloyd’s play in A&H?
• What does a good claims experience look like?
• What trends will shape A&H over the next few years?

In a recent conversation with Insure TV, four members of Brit’s accident and health (A&H) underwriting team talked about how the market is changing and what brokers should expect from an insurer. Class Underwriter John Milne, Senior Underwriter Paul Gunn, Underwriter Jack Hinton, and Assistant Underwriter Jeremiah Long came together to share their expert perspectives.

What does Brit’s A&H offering look like?

While Brit has always written A&H, in 2020, we chose to remediate the account and focus on its core segments: high-limit disability, sports, general personal accident, aviation and marine. Alongside that, we brought in specialists to own each product from start to finish, from policy wordings and pricing through to underwriting and claims. 

Paul explains; “The result is a team with more than 80 years of combined London market experience, backed by the financial strength of Fairfax. We have experience in this team across all the major segments in A&H.”

How is the A&H market evolving?

Hybrid working after COVID made it hard to see clients face to face. John gives his view; “Now the team is back on the road, meeting partners where they work and talking through their products. Their books are changing with the global economy, and Brit wants to understand those changes first hand.” 

We also hold quarterly calls with key cover holders to review what is working and what is not. Fixing issues during the year, rather than waiting for the annual review, gives cover holders time to respond to their clients’ needs. For you, that means fewer surprises at renewal and more continuity for your clients.

What are your clients most concerned about?

For Jack, the answer is simple; “businesses want their people protected. Workforce mobility keeps growing, so employers need first-class medical provision and assistance capability wherever their staff are in the world, and robust cover in place for the moment something goes wrong.” 

Jeremiah points to the current conflict in the Gulf as an example of how quickly the landscape can change; “In those moments, your clients need confidence that their insurer will be there for evacuation, repatriation, emergency medical, or even just advice or guidance of what to do next.”

Why does wellbeing matter as much as crisis cover?

Crisis response is only part of the picture. Jack sees a real drive towards wellness and mental health amongst employers, and expectations are rising with it. He says; “Simple insurance solutions are no longer enough. Clients now look for added benefits, such as partnerships with mental health providers, that enhance the service around the policy.” 

John notes how far employee benefits have come; “It used to be that employee benefits was just all about pensions. Today’s packages include gym schemes, bike to work and rehabilitation, all designed to keep employees as fit and well as possible. For brokers, that wider view of wellbeing is a chance to add real value at placement.”

What role does Lloyd’s play in A&H?

Complex A&H risks need both expertise and capital, and Paul describes Lloyd’s as a hub for both; “Brit’s underwriters work alongside dedicated legal, compliance and claims teams, giving you the support a Lloyd’s placement needs.” 

Lloyd’s syndicates can also share risks where higher limits are required. Lloyd’s licences across territories worldwide make it easier to place policies for multinational clients. And the Lloyd’s chain of security gives policyholders the reassurance of a strong credit rating.

What does a good claims experience look like?

Jeremiah puts it plainly; “You only really see the true value of that product when you come to make a claim. That is what an insurer is remembered for: was it easy to claim, and was there any friction?” In A&H, claimants may be facing life-threatening situations or the lowest points in their lives, so empathy has to run through every claim we handle. 

Paul adds the practical side; “Speed and efficiency matter, and valid claims should be paid in good time. Where that is not possible, perhaps because an independent medical examination is needed or a claim has gone legal, good communication keeps the policyholder informed rather than left wondering what is happening.”  

What trends will shape A&H over the next few years?

Paul expects geopolitics to stay high on the agenda; “The war in Ukraine has shaped the last four years, and he anticipates further escalation.” Jack highlights other trends; “Rising medical cost inflation, particularly in the US, as a real pressure on insurers’ margins, alongside the evolving customer expectations already reshaping the market.” 

For Jeremiah, technology will be the biggest focus, and it is an area where we excel; “Brit combines a breadth of data with real-time intelligence and AI to sharpen risk management and pricing.” For your clients, that means more accurate pricing and clearer guidance. 

Why place A&H with Brit?

John brings it together; “Underwriting expertise and claims expertise live under one roof. Brit can build products from start to finish and lead placements, backed by strong financial security and a healthy risk appetite. Our any one person and event limits also stand substantially higher than many of its peers in the market.” 

Whether your clients need high-limit disability cover, protection for a mobile workforce or a programme that spans several territories, we will work with you to find the right solution.

To find out how we can support your clients’ accident and health needs, explore Brit’s A&H offering or speak to the Accidents and Health team today.