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Welcome to our Monthly Newsletter – September 2006

Talk Around the Bazaar

New CIRC regulations are encouraging Chinese insurance companies to set up overseas subsidiaries. Would this be in countries where Chinese tourists are descending in hordes?

In the United States, the PC market is still softening with only some property risks in the hurricane-prone areas forming an exception. The reinsurance outlook, however, is negative

QBE is serious about spending a large part of its profits on expansion plans in the U.S., Europe and Latin America

Not long after Qatar announces plans to establish an insurance company association, AXA plans to open a new facility there

The IRB is permitting local insurers to negotiate D&O contracts on the international market. What’s next – IRB opening an office in Bermuda?

Saudi Arabia is expected to grant licences to insurers from North America, Europe, the Middle East and Asia.

Lockton buys Alexander Forbes International Risk Services to become the largest independent global broker

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We are currently discussing projects in the following markets:

  • Belgium
  • India
  • U.S.A.
  • Sweden
  • Germany
  • Spain
  • Romania
  • Australia
  • New Zealand
  • Poland
  • France
  • United Kingdom
  • Netherlands
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    What Clients Say

    “It is nice to work with an organisation where the people have not only travelled but have actually lived in another country”

    “Whenever we ask for help, Worldwide Risk Solutions has come up with good ideas”

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    CONTACT US

    BY POST
    Worldwide Risk Solutions LLP
    20 Blunts Wood Road
    Haywards Heath
    West Sussex
    RH16 1NB, England

    BY TELEPHONE
    Telephone: +44 (0)1444 450 919
    Mobile: +44 (0)7968 191 511

    BY E-MAIL
    info@worldwiderisksolutions.com

     

     

     

    A New Force in International Insurance

    Worldwide Risk Solutions is a U.K. based commercial organisation facilitating global business strategies and business development in the international insurance industry. For more information about us, please go to www.worldwiderisksolutions.com

    What makes a network successful?

    A handful of criteria with the right doses of each include:

  • Geographic Representation
  • Structure
  • Current Member Profile
  • Your Vision
  • Marketing Strategy
  • Status
  • Information Sharing
  • Business Flow
  • International Strategies – the importance of mission

    If the VISION is the reason why, then the MISSION is the manner how. The goals and objectives set in order to achieve goals must be reasonable and feasible. For international networks of independent brokers, this is key to member satisfaction because to fail here means there is no perceived added-value.

    Networks are made up of large members and small members. There is representation in countries where there are clients with international operations and subsidiaries overseas and there are members in countries where this is not the case. Some members have developed sophisticated expertise; others are young, pioneering in markets where intermediaries are a new phenomenon.

    Therefore, looking further at some of the criteria for successful networks:

  • MISSION: what in your plans entices brokers to want to join a network?
  • MISSION: does your mission statement anticipate the different expectations of the members?
  • MISSION: is your membership adequately represented in key countries where business can be generated?
  • MISSION: do your plans anticipate the reality that valued-added is more than incoming international referrals?
  • If you have questions about global developments or if you wish to discuss your own international strategic plans, just give us a call (+44 (0)1444 450 919) or send us an e-mail and we will be happy to look at some of these questions and to start providing answers.

    What is happening when your members do not appear to be satisfied?

    One of the main reasons why network members become dissatisfied is that their expectations are not being met. Why not?  

    The Vision and Mission are what create expectations. Two of the main ones are: providing top quality service to your members’ clients and referring new business. The Mission of a network must incorporate a strategy making the achievement of these goals feasible: things need to be prepared and sometimes they have not been properly thought out. Furthermore, the potential unleashed by networking is often undervalued and opportunities are lost. Creating a solid platform for the exchange of ideas and expertise on an international basis should figure right amongst the top goals for a network – but that does not always happen.

    We will look at your organisation and help you conclude if the goals and objectives outlined on your Mission statement in fact dovetail into your Vision and justify the expectation members have when they join.

    And if the Mission still makes sense, then you will still be on the right road.

    In our next e-newsletter we will look at Key Countries.
    See our Contact Details

    George Worsley, Director
    Worldwide Risk Solutions
    Telephone +44 (0)1444 450 919
    E-mail  info@worldwiderisksolutions.com 

    © Worldwide Risk Solutions LLP 2006