In Person: Head of Marsh Networks David Hopwood

Hopwood on being owned by Marsh, restructuring the networks division and why he wants brokers to remain independent.

When asked whether Marsh Networks was planning on going down the same route as Broker Network and start making acquisitions of its own, Hopwood’s answer is a strong “no”.

“Our intention is to help brokers remain independent and the minute we take a stake in a business that’s out of the window,” he elaborates. “We want them to thrive on their own.”

He notes that the biggest challenge for the business at the moment is helping its member stay on the right side of regulation. In addition the competitive market for brokers is leading to challenges around both renewals and new business.

Hopwood adds that he has also noticed that insurers are looking at their trading models and changing the way they are dealing with brokers.

“Our job is to make sure that our members aren’t as impacted and that they keep that trading relationship with those markets,” he continues.

But he also sees opportunities going forward as there are a lot of brokers out there who are not currently members of a network and reiterates the point that being part of a large broking organisation is beneficial in attracting new members to the different propositions.

Despite worrying that consolidation will be a big threat to the broking industry and independent brokers in particular, he adds: “There’s a big part to play still for the independent broker with that local relationship and local customer.”

While there are a lot of challenges in the market he remains positive about the future of Marsh Networks.

Our intention is to help brokers remain independent and the minute we take a stake in that business that’s out of the window… We want them to thrive on their own

“We’re still a people business and the independent broker can take advantage of that,” he states.

And while his career in the air never quite took off, When he is not in the broking world Hopwood has exchanged the skies for a life at sea. Well, at least in his spare time he goes sailing whenever he gets the chance.

A proud boat owner, Hopwood’s family summer holidays include sailing around Greece or Spain.

“It’s a great way to spend some time and very relaxing,” he concludes. “Unfortunately in this country it doesn’t happen too often because I live up in the North East so you have to be a bit wary of the sea conditions up there.”  

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