{"id":1168,"date":"2021-02-11T00:00:00","date_gmt":"2021-02-11T00:00:00","guid":{"rendered":"httpss:\/\/advantagego.local\/importance-of-data-in-broking-community-nick-cook-ceo-bms\/"},"modified":"2025-02-25T16:30:21","modified_gmt":"2025-02-25T16:30:21","slug":"importance-of-data-in-broking-community-nick-cook-ceo-bms","status":"publish","type":"post","link":"https:\/\/www.advantagego.com\/en-us\/content\/importance-of-data-in-broking-community-nick-cook-ceo-bms\/","title":{"rendered":"The importance of data in the broking community &#8211; Nick Cook, CEO, BMS Group"},"content":{"rendered":"\n<p><iframe loading=\"lazy\" style=\"border: none;\" title=\"Ep 66 Nick Cook BMS: A Bullish time to build\" src=\"https:\/\/www.podbean.com\/media\/player\/uk3jp-fa1713?from=pb6admin&amp;download=1&amp;version=1&amp;auto=0&amp;share=1&amp;download=1&amp;rtl=0&amp;fonts=Helvetica&amp;skin=1&amp;pfauth=&amp;btn-skin=107\" width=\"100%\" height=\"122\" scrolling=\"no\" data-name=\"pb-iframe-player\"><\/iframe><\/p>\n\n\n\n<p>In this jam-packed podcast, Nick Cook, CEO, BMS Group, speaks about his company\u2019s ambitious plans to increase its global footprint into North America, Latin America, Asia and Europe, in addition to other emerging markets. Nick also discusses how far his organisation has come in the last seven years and his strategy for the future.<\/p>\n\n\n\n<p>We also hear Nick\u2019s views on M&amp;A and organic growth as part of BMS\u2019s expansion strategy, why data is key to the value proposition for brokers, his thoughts on <a href=\"https:\/\/www.advantagego.com\/en-us\/content\/blueprint-two-update-the-road-to-revolution\/\" target=\"_blank\" rel=\"noopener\">Lloyd\u2019s Blueprint Two<\/a>, diversity, the London Market\u2019s unique selling point and why clients love coming to London because of the whole London experience.<br><strong><em><br><img loading=\"lazy\" decoding=\"async\" class=\"leftAlone ss-htmleditorfield-file image\" title=\"Nick Cook CEO BMS Group Feb 2021 quote\" src=\"https:\/\/advantagego.wpengine.com\/wp-content\/uploads\/Nick-Cook-CEO-BMS-Group-Feb-2021-quote__ResizedImageWzgwMCwxMzJd.png\" alt=\"Nick Cook CEO BMS Group Feb 2021 quote\" width=\"800\" height=\"132\"> <\/em><\/strong><\/p>\n\n\n\n<p>As the conversation turns to <a href=\"https:\/\/www.advantagego.com\/en-us\/content\/future-of-data-and-technology-for-underwriters\/\" target=\"_blank\" rel=\"noopener\">data and technology<\/a> in the market, Nick explains that BMS has a number of technology projects on the go and that innovation has always been at the heart of BMS. The organisation was the first company to trade on an iPad on the floor at Lloyd\u2019s and the first to launch an innovation lab in the broking community.<\/p>\n\n\n\n<p>Nick is also candid about his views on ensuring that a balance is maintained between technology investment and hiring the right talent, as he says, \u201cwe want to see that influx of technology speed up our ability to provide capital solutions to our customers in a far more cost effective and efficient way, but it must not replace the face-to-face negotiation and broking and it won\u2019t, I just don\u2019t think it will.\u201d <strong><em><img loading=\"lazy\" decoding=\"async\" class=\"leftAlone ss-htmleditorfield-file image\" title=\"Nick Cook CEO BMS Group Feb 2021 quote2\" src=\"https:\/\/advantagego.wpengine.com\/wp-content\/uploads\/Nick-Cook-CEO-BMS-Group-Feb-2021-quote2__ResizedImageWzgwMCwxMDNd.png\" alt=\"Nick Cook CEO BMS Group Feb 2021 quote2\" width=\"800\" height=\"103\"> <\/em><\/strong>The London Market is internationally recognised for its unique proposition. Still, many in the industry have argued that in order for London to thrive on the global stage, it should perhaps focus less on what makes it so different. In this episode, Mark and Nick discuss if the future of EC3 not only depends on embracing technology but recognising that London\u2019s USP as a place for specialist insurance is an advantage that should be maintained.<\/p>\n\n\n\n<p>Commenting on this subject Nick said, \u201cultimately everyone is in agreement that the future of the market is a hybrid model between using technology to take cost out and speed the efficiency of the market but equally embrace and continue to embrace the unique selling point of our market and what EC3 is all about.\u201d<\/p>\n\n\n\n<p>He adds: \u201cI think there is a consensus across the whole market place that face-to-face negotiation is all that EC3 stands for\u2026 it is the London Market\u2019s unique selling point, but what we do behind that is archaic, is slow, is cost-prohibitive, and that\u2019s what we need to focus our attention on in terms of investing in that data.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Client Advocacy &amp; Diversity<\/h2>\n\n\n\n<p>As the insurance sector looks to bring in more diversity and create a more inclusive marketplace, Nick explains how BMS is focused on maintaining and building the high-touch value service his organisation delivers while investing in people and particularly looking at hiring people from non-insurance backgrounds. Commenting on this, Nick says, \u201cdiversity of thought diversity of talent is a natural progression as we move into a more technological market.\u201d<\/p>\n\n\n\n<p>Enjoy the podcast.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this jam-packed podcast, Nick Cook, CEO, BMS Group, speaks about his company\u2019s ambitious plans to increase its global footprint into North America, Latin America, Asia and Europe, in addition to other emerging markets. Nick also discusses how far his organisation has come in the last seven years and his strategy for the future. We [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":3316,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[19],"tags":[],"line-of-business":[],"class_list":["post-1168","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-podcasts"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/posts\/1168","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/comments?post=1168"}],"version-history":[{"count":0,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/posts\/1168\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/media\/3316"}],"wp:attachment":[{"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/media?parent=1168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/categories?post=1168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/tags?post=1168"},{"taxonomy":"line-of-business","embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/line-of-business?post=1168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}