Gary Okely, the new president of the intermediated insurance industry's peak body, the National Insurance Brokers Association (NIBA), has outlined his plans for the Australian broking industry.
In his latest statement, Okely (pictured) said the Australian broking industry has a major opportunity to build on its advocacy and deliver the best client outcomes by further expanding its role as the government's trusted advisor.
“The three pillars of NIBA's strategy around representation, professionalism, and community have come to the fore over the past few years,” Okely said. “From the representation perspective, the work that NIBA has done with the government has led to a very positive outcome from the Quality of Advice Review. NIBA's leaders in Di Phelan and, before her, Eric Harris, have created a great foundation with the industry and governments that has been reflected in the very positive outcomes for brokers in Michelle Levy's report.”
As the new NIBA president, Okely will focus on the Quality of Advice Review Report and address insurance affordability and availability challenges.
“We do a lot of excellent work in advocacy, and the Quality of Advice Review Report reinforces this with better broker and client outcomes,” he said. “The next stage of this that I'd like to see is for NIBA to become a trusted adviser to the government from a client perspective.
“This will see governments reach out to NIBA more to work together to achieve better outcomes for our clients.”
On insurance affordability and accessibility, Okely said: “There are plenty of challenges around affordability and availability of insurance that present a real opportunity for the broking industry to work with government and support vulnerable communities.
“We need to work towards an improved focus on mitigation rather than recovery, and helping guide the government on longer-term investments will be an important way we can deliver better outcomes for our clients.
“While the federal government controls our insurance legislation, state governments also have a key role in decision making and funding of the mitigation requirements that will assist the long-term availability and affordability of insurance for the clients of brokers right across the country.”
Last month, NIBA appointed Okely as its new president, replacing Dianne Phelan, whose term has ended. It also appointed Steadfast's Nick Cook as its new vice president.
