Broker Expo South: Brokers learn about diversification
Delegates at Insurance Age’s inaugural Broker Expo South heard from Roger Oldham, managing director of Amethyst Business Consulting, as he explained the opportunities and dangers to brokers looking to expand their businesses through diversification.
Mr Oldham, who has previously worked with Aon, Marsh and HSBC, defined diversification as the process of entering new markets and customer segments in the provision of new products or services for growth of a book.
With the soft market impacting on revenue streams and costs going up while commissions stall, he warned brokers to look to the future.
He said: "Just because it [your business] works today doesn't mean it will in five years time. People need to be thinking about it from a strategic
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