NIBA / Special Feature
The Code needs to remain fit-for-purpose, both now and into the future. It needs to respond to the changing needs of clients and communities. “Change presents both opportunities and challenges,” he says. “But facing the challenges yourself is far better than being provided with solutions from other spheres of government.” Gary sees self-regulation as a professional responsibility. It is a mechanism that allows the profession to remain credible, relevant and trusted, while retaining the ability to shape standards that fit the realities of broking. Why Member Consultation Is Critical to the Code Review If self-regulation is the principle, Okely sees member consultation as the mechanism that makes it meaningful. “Input from NIBA members to the Code Review is critical,” he says, “so the NIBA Board can ensure that the professional standards our Code embodies represent the broad reach of insurance brokers throughout Australia.” Gary is conscious of the profession’s diversity — not just in geography, but in firm structures, client types and day-to-day operating realities. He believes the Code must reflect that diversity if it is to be both credible and practical. “It’s important for members to reflect on both historic information and practices, along with current trends of
“Research provides opportunities to hear independent views on current and emerging trends and perspectives in an unfiltered way,” he says. “That is incredibly valuable.” For him, the power of research lies in its ability to challenge assumptions and sharpen strategic thinking, not just within NIBA, but across policy and regulatory forums. “By taking the research findings and turning them into thought leadership articles and discussion papers, policymakers, regulators and the NIBA Board can get an unfiltered view when considering future strategic directions and decisions,” he says. This is the difference between simply reacting to issues and actually helping shape them. “You can always have an opinion,” he says, “but research-backed thought leadership allows you to set the agenda. It gives you something stronger to take into the room,” Gary says. That agenda-setting role matters because insurance issues are increasingly complex and interlinked. Affordability, risk, regulation, client expectations and emerging technologies don’t sit neatly in separate boxes. Gary believes NIBA’s research- led approach helps turn complexity into clearer narratives and priorities. “Research is also powerful in identifying areas that may not yet be fully explored in a broader sense,” he says. “And that means it can lead policy change, regulatory change and future investments.” Being the One Voice for the Profession “Insurance broking is fortunate that NIBA is the sole voice of brokers in Australia,” he says. “That should not be underestimated, because it gives us the opportunity to amplify our message.” But for him, that message has to be bigger than industry self-interest. “With strong member feedback, industry research and community engagement, NIBA provides the ‘one voice’ that can advocate in a much broader and stronger way on behalf of our clients,” he says. That client-led framing is central to Gary’s thinking. He believes the profession holds
professionalism that exist in financial services across Australia,” he says. That balance between history and forward thinking is important. The Code needs to be shaped in a way that does not overlook the profession’s distinct role. “Insurance broking is part of the financial services advice sector in Australia,” he says, “but it is quite different from banking, life insurance, and even the General Insurance Code, which is designed for insurers who manufacture insurance products,” Gary says. Brokers understand where standards need to be principled and where they need to be practical. They understand how conduct obligations play out in live client environments — in advice conversations, placement work, renewals and claims. “Members bring the real-world perspective,” he says. “They know what works in practice, what is clear, what could be clearer, and where future standards need to go.” He also sees consultation as a way to produce a more balanced outcome. “With broad feedback from members, NIBA will be able to develop a balanced, future-looking position within the Code that drives future professional standards.” Leading with Insight Gary speaks about the importance of NIBA’s thought leadership with the same strategic focus he brings to advocacy and the Code.
22 / INSURANCE ADVISER FEBRUARY/MARCH 2026
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