Keeping up to date on the latest industry news and market trends should be a marathon, not a sprint. Building up your insurance knowledge takes time, so you must work thoroughly and with detail. You can learn new things every day; however, one thing that cannot be taught is the hunger to discover more. We all know the world is changing fast, and it can be hard to keep up sometimes.
Because of this, we urge all brokers to read up on changes and trends in the market, along with different FCA regulations, frequently to ensure their knowledge is the best it can be. Being proactive in refreshing yourself with what’s happening in the market is essential. Interest rates are continuing to soar, with no signs of slowing down. With so much at stake for policyholders, you must keep yourself in the loop and ahead of the curve.
Industry Regulations and Legislation
The Financial Conduct Authority is integral to the day-to-day running of the insurance industry, ensuring everything is done by the book. They consistently upload news updates and new regulations to their various news feeds on their website, which is always useful to keep up with. You can take a look for yourself here.
You’ll Improve Your Services
The housing market and the economy are constantly changing, so you must adapt to the ever-evolving industry. Keeping up-to-speed with the transforming markets can help you to have the knowledge and expertise to supply your clients with expert advice and accurate assessments of situations that may arise. In addition, customers will be able to tell when a broker knows the industry, so it’s imperative you show off your intelligence.
To be competitive in a saturated market, you must keep ahead of the competition. Read up on current affairs in the insurance industry and familiarise yourself with new changes to regulations and rules to set yourself apart from the rest.
Keep on Learning
While keeping up with the latest news is an excellent way to enhance your knowledge of the broader market, there are other ways to continue your professional development. We have various ways to expand your understanding of insurance at Source Insurance. Our free-to-use resources hub LearningLab is brimming with helpful CPD-accredited content. Select from micro-courses, webinars, eBooks, articles and short videos