Executive Outlook 2022: Tracy McLaughlin, MD of GIB Risk Solutions

Executive Outlook 2022
Tracy McLaughlin, MD of GIB Risk Solutions

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  1. What are your thoughts on employees returning to a conventional office setting?
    What is a conventional office setting these days? Despite having some remote workers and a flexible approach to where our client-facing staff base themselves pre-pandemic, lockdown showed that if we continued delivering client service excellence that’s what matters. But that’s an easy statement to make – what it means is ensuring outputs are delivered, staff remain focused and engaged, personal growth opportunities continue. This doesn’t have to happen in a conventional office setting but also doesn’t happen naturally when a team is working remotely. Going forward, we believe we will maintain a hybrid model of working as long at it makes sense for clients, the business and the individual.
  2. As the pandemic recedes, how do you see the competition for talent on teams?
    We see the demand for attracting and the pressures on retaining talent increasing exponentially as the focus on digitisation and new technology brings a need for new skills. The fast pace of change and increased and changing client demands and expectations will require a greater focus on upskilling and re-skilling.
  3. Consumers' expectations around product delivery and service have changed as a result of Covid-19, how do you foresee insurance adapting to this?
    We believe clients' focus is now more than ever on the underlying value for money a policy delivers, along with the overall customer experience and that Insurers will pay out in a time of need. This imposes pressure on effective digital delivery whilst ensuring that the human touch remains paramount.
  4. What are your thoughts on the prospect of more face-to-face interactions with clients?
    As much as virtual tools allowed us to carry on engagements with clients – as we are in the business of relationships – we are excited to be getting back to in person interactions with our clients, while still being able to use the virtual tools where it makes sense.
  5. With the acceleration of digital transformation and AI, what data-driven solutions are you exploring or promoting?
    We are exploring a few options at the moment including lead generation, application and claims processes.
  6. How do you see advisory businesses growing in the future?
    By focusing on what the client wants and how to deliver that most effectively, using technology to enhance the product and delivery. Handshakes and eyeballs are still important but the use of technology, including effective social media, cannot be overlooked. There are however no shortcuts for building trust and we as a business need to continue dedicating time and appropriate resources to ensuring that we make the necessary shifts in strategy to ensure growth and sustainability.