Monday, 17 September, 2012 1 Comment
I like to think that I keep my finger on the pulse of what is happening (or not) in the UK general insurance industry and I am ashamed that, perhaps the most significant change in recent years, has completely passed me by! I can only attribute this to a form of blindness brought on by years of short-lived, occasionally ludicrous, strategies and initiatives launched by past Aviva management and that sapped the morale of their employees and saw them shed good business in favour of large premium commitments…many containing unknown exposures!
Perhaps I should have dug a bit deeper when they took a stand against Towergate earlier this year. I can only claim that my cognitive bias was brought by having to listen to a former “leader” – surely a graduate of the same business school as Fred Goodwin!- attempt to spin (that is as polite as I can be) strategies that were patently spawned by the unholy triumvirate of GREED, FEAR & EGO.