1 Become part of a group dedicated to the U.S./London marketplace.
The CHART Exchange has a two-fold purpose. First,
it will facilitate new business growth by providing an environment
through which representatives from both sides of the insurance transaction
can exchange ideas about new coverage offerings, under-served
market niches, and other opportunities. It will also advocate the benefits
of placing risks through Lloyds to domestic insurance agencies.
Coverholders are recognized as a vital part of the U.S./London
marketplace. Their participation can help establish CHART’s strategic
direction so that it aligns with the interests of this elite group.
2 Meet new potential business partners. The Lloyds market is home to 96 Syndicates; a number of these will ultimately become members of CHART. Each has its own unique areas of specialization and underwriting philosophy. Coverholders interested in expanding their existing product portfolio may find new partners by interacting with representatives from these firms.
3 Hone skills or learn about new products and services. Each CHART-sponsored event will include a number of workshops and panels. These breakout sessions are designed to educate and inform members about a wide range of industry-specific issues. Panels serve as a platform through which both risk takers and vendors can present products and services in an interactive format.
4 Interact with vendors vetted by peers. Vendors catering to the insurance industry will be invited to join the CHART Exchange. These firms will be evaluated by a committee of existing members prior to being accepted.
5 Market Finder Facility. CHART can assist members in identifying markets with risk appetites that are most compatible with new product/coverage ideas they seek to pursue. This service is offered at no cost.
6 Cross-sell opportunities. Expand your current distribution by partnering with other risk takers and insurance agencies. Secure new revenue streams by marketing the complementary products of other CHART members to your existing customers.
7 Participate in the Shark Tank/Dragons Den competition. Participants in the annual CHART Exchange event will have the opportunity to introduce a new product idea, innovative distribution concept, or similar vision in a forum patterned after the popular television show. The winner shall be determined jointly by a panel of experts and the other attendees. A grand prize of $10,000 (£6,400) will be awarded to help defray the cost of implementing the idea.
8 Serve as a mentor to aspiring Coverholders. Help foster new business growth within the U.S./London marketplace by assisting other insurance agencies in securing underwriting authorities through Lloyds. This is not a wholly altruistic endeavor; there may be revenue opportunities for your firm as well.
9 Increase market awareness through advertisement in The CHART Exchange - a Digital Magazine. A new insurance periodical will be published by the Exchange starting in 2016 – CHART Magazine. This quarterly publication will be distributed to over 40,000 retail agents and brokers across the country. By advertising in the magazine, Coverholders can promote their products to an audience inclined to place business through Lloyds.
10 Utilize the preferred London Broker of your choice. Many Coverholders already have a trusted London broker partner to handle transactions on their behalf. The CHART Exchange will surface a number of new, innovative product ideas. Once an agreement on a concept has been reached, risk takers and/or insurance agencies are invited to utilize the broker of their choice to implement the formal agreement
An eight minute investment of your time will drive the structure and priorities of The CHART-Exchange.
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