MARE FORUM 2000

1
MARE FORUM 2000

• Does the Insurance Broker add value to the
  process of buying Marine Insurance?

Hans Terje Anonsen Managing Director Aon Global
Marine Practice Group
2
Brokers competitiveness
Insurance Rate Index
Value
No
Real
Added
3
The Traditional Broker - Transaction Based
Intermediary
BROKER

• Paradox represents the shipowner, but -
• distribution channel for the insurer
• negotiates remuneration with insurer

4
Current Weakness

• Focus on transaction and internal market politics
• Lack of understanding of Clients business
• Limited Product Development Innovation
• High cost base, poor competitiveness

No Future
5
Changes in Shipping
Part of the change in the Global Economy

• Not one but many industries
• New ship designs
• New business processes to satisfy Shipowners
  Clients
• New and expanded risk management issues

Traditional Insurance is only a small part of
Risk Mangement
6
Marine Market Consolidation
Fewer Bigger Players
7
Major Marine Players

• One Stop
• Broader and more tailor made RM Solutions
• Strategic alliance with major global entities

Finding a place in the New Global Financial System
8
Product Development
9
Intermediary Dilemma
Facilitate Risk Management Solutions
10
Facilitators competitiveness
Insurance Rate Index
Value
Added
11
Facilitator Goal
Control the cost of risk so that the client can
maximise the opportunities of risk.
Help Client Improve Long Term Profit