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omissions, and improve decision-making by quickly analysing large data sets for accurate risk assessments and personalised solutions. Insurers will focus more on direct distribution to SMEs to cut costs and enhance profits. Advanced digital platforms will likely handle most intermediated insurance transactions, boosting efficiency, transparency, and customer engagement. The industry will face stricter regulations aimed at protecting consumers, requiring brokers to improve compliance and transparency. Additionally, commissions on domestic insurance will be abolished, shifting to fee-based models, which will prompt brokers to showcase their advisory and risk management value. As the industry evolves, client-centric approaches will become crucial, with brokers focusing on building strong relationships, understanding client needs, and offering customised and alternative risk solutions. Despite technological advances, human interaction remains essential for relationship-building, complex negotiations, and personalised service in the insurance broking industry. Face- to-face interactions will continue to be vital in ensuring brokers and underwriters effectively meet the diverse needs of their clients. “The role of insurance broking in promoting financial security and resilience is deeply rewarding, as it empowers individuals and organisations to thrive despite challenges.” What inspires you the most about the insurance broking profession? The profession inspires me through its ability to make a huge difference in the lives of individuals and businesses. It involves building trust and relationships, understanding unique needs, and crafting solutions that safeguard against uncertainties. The dynamic nature of the industry, with its ever-evolving risks and opportunities, keeps the work engaging and intellectually motivating. Collaborating with diverse stakeholders, clients, insurers, and communities adds a layer of fulfillment that is both challenging and rewarding. The role of insurance broking in promoting financial security and resilience is deeply rewarding, as it empowers individuals and organisations to thrive despite challenges. The continuous learning and adaptation required in our industry is constant, each day brings new experiences and the chance to make a meaningful impact, reinforcing my commitment to this career path. What does becoming a finalist of the 2025 Broker of the Year mean to you? Becoming a finalist is a significant achievement for me. It recognises my
performance, dedication, and expertise in the insurance brokerage industry. This accolade highlights my ability to deliver outstanding service and innovative solutions to clients, as well as his contribution to the success and reputation of Gallagher. Being a finalist will enhance my credibility, open new opportunities for career advancement, and strengthen client trust and relationships. It also reflects positively on my employer.
early will gain a significant edge; those who don’t risk falling behind. As insurance contracts grow more complex, specialisation will become increasingly important, similar to what we already see in the legal and accounting professions. Brokers who truly understand the intricacies of specific industries will have a powerful point of difference. One thing won’t change: those who know their product, add real value, and deliver exceptional service will continue to stand out and succeed. What inspires you the most about the insurance broking profession? What inspires me most about the insurance broking profession is that it truly rewards the effort you put in. If you’re willing to work hard, and continuously learn about the products and the market, the opportunities for success are right there in front of you. It’s also an industry that’s incredibly accessible. The barrier to entry is low, and with networks like Insurance Advisernet providing top-tier support in areas like technology, compliance, and accounts, you’re free to focus on what really matters, which is your clients. At its core, broking is about helping people. Clients come to us to guide them through complex, often misunderstood insurance products. Being part of that journey, watching a client’s business grow and knowing you’ve played a role in protecting it along the way, is incredibly rewarding. I’ve found that those are the relationships I value most. What does becoming a finalist of the 2025 Broker of the Year mean to you? Being named a finalist is a fantastic honour and something I’m genuinely proud of. South Australia has some truly outstanding brokers, so to be recognised among them is both humbling and incredibly rewarding. Over the past few years, we’ve worked hard to build and refine our business, developing strong processes and striving to set ourselves apart in the market. While the growth we’ve seen has been rewarding in itself, this recognition from within the industry is a powerful affirmation that we’re on the right path. That said, we’re far from finished. We’re constantly looking for new ways to improve, innovate, and deliver even better outcomes for our clients, and most importantly, have some fun along the way! “What inspires me most about the insurance broking profession is that it truly rewards the effort you put in. If you’re willing to work hard, and continuously learn about the products and the market, the opportunities for success are right there in front of you.”
SA/NT Finalist
JAMES MCLAREN, TAILORED INSURANCE
How did you get started in the insurance broking profession?
I didn’t have a clear direction straight out of school. While I had dreams of turning professional, my golf game wasn’t good enough! I ended up joining QBE Insurance through their graduate program, which gave me a well-rounded introduction by rotating me through key areas of the business: administration, claims, domestic underwriting, and commercial underwriting. Just as I was considering a potential overseas posting with QBE, my father, an insurance broker himself, tapped me on the shoulder and mentioned he was planning to retire within the next two years. That prompted my move to MGA Insurance Brokers. After 5 years at MGA, I joined Insurance Advisernet and established my own brand, Tailored Insurance. That was 7 years ago, and it’s been an incredibly rewarding journey ever since. What do you think the insurance broking profession will look like in the future? The future of insurance broking is set to be both challenging and exciting. There’ll be a much greater emphasis on transparency with clients, and brokers will need to provide genuine professional advice to justify their remuneration. Simply sending out a renewal invoice won’t cut it anymore. AI is the most obvious disruptor on the horizon. It’s going to reshape how we operate, particularly by automating time-intensive tasks like document processing and schedule creation. I believe AI-driven quoting for smaller policies isn’t far off either. Those who embrace this technology
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