US-based insurance agencies will get a chance to meet directly with syndicates from Lloyd’s of London this fall in a first-of-its-kind event designed to expand American access to the risk appetite in London.
CHART – or Cover Holders and Risk Takers – will see 500 decision makers convene from October 12-14 in Philadelphia to network, share ideas and generate new business. In addition to agencies and representatives from Lloyd’s 96 syndicates, US coverholders, potential coverholders and vendor partners will also be present.
The event was conceived by Glenn Clark, owner and president of Rockwood Programs and founder of the highly successful Target Markets Program Administrators Association. After Clark met with Lloyd’s CEO Inga Beale at an event in Boston, he decided that an event like CHART would be the most successful way to further enhance a Lloyd’s presence in the US market.
“The forum is designed to inspire creativity, enthusiasm and fun with one of the oldest and respected leaders in insurance with the goal of making new connections that create a flow of new business for Lloyd’s niche markets from US insurance companies,” Clark said.
CHART-Exchange will feature speakers, panel discussions and more than 40 workshops for attendees to engage in dialogue and information-sharing with Lloyd’s syndicates. Breakout sessions will address topics such as regulatory compliance, the Lloyd’s coverholder appointment process, marketing and social media, standard and surplus lines licensing, technology and new product submission strategies.
Attendees will also have an opportunity to present new product ideas in the “Shark Tank” Competition, an event that will reward the best new idea with $10,000 in funding.
Among the list of Lloyd’s syndicates and partners that have agreed to participate in the inaugural CHART-Exchange are BRIT PLC, Wilson Elser, Iris Insurance Brokers, State National Companies, ProgramBusiness (Neilson Marketing Services), PLCommunications and NSM Insurance Group.
“This is a unique opportunity for US brokers, MGAs and other intermediaries to meet and discuss business development ideas face to face with Lloyd’s underwriters,” said Steve Ahern, specialist programs broker with Iris Insurance Brokers. “One hundred underwriters all in one room, all seeking new business opportunity…the insight, guidance and networking will be invaluable.”
Registration is $1,000 and further details can be found at www.chart-exchange.com.
Almost 40% of Lloyd’s global business comes from the US, accounting for $14.6 billion in premiums last year. It is also the number one writer of excess and surplus lines insurance in the country.
