Tara Waite, our CEO, has outlined her thoughts for the year ahead in Insurance Times alongside other business leaders. Here is what she has to say. The future is bright for businesses who continue to put customers first. One real opportunity we see for workplaces and working patterns as a result of COVID, is the further enhancement of customer journeys. The move ‘home’ emphasised the importance of simplicity and continuity of service coupled with a strong relationship model. We see advantage in the continued digitisation and automation work we have been doing to remove friction. Having replaced our core platforms and interfaces over the past few years we are focussed on the real value enablers for our partners and their customers.

This time of year always raises some familiar themes - family, friends, the giving of gifts and taking a well-earned break to name but a few! But another is naturally gratitude. Taking the time to recognise what we’re thankful for and ensuring that where possible, we pass on our heartfelt thanks to those who deserve it. In business this applies as much as it does in our personal lives. Colleagues, partners, service providers and of course, customers are all essential to the work we do.

During a year of negative Covid-19 headlines we all welcomed the news of vaccine advancements and mass testing announced last week. With hope on the horizon, this gives us all renewed optimism as we prepare for 2021 despite experts warning economic recovery won’t be easy. How are you intending to facilitate business growth in the year ahead? Despite recent positive vaccine news, further announcements have been made urging caution to reduce the risk of spreading the virus when rules are relaxed across the UK over Christmas. Over the last few days we also heard of new localised restrictions and regional tiers introduced.

Owen Thomas, Chief Sales Officer, tells us about the 3 ‘R’s that make trade bodies so valuable to the insurance industry. The UK insurance sector is the world’s leading exporter of insurance and long-term savings, selling £13 billion more to the rest of the world than we buy from them. The sector is also one of the UK’s most productive, adding more than £40 billion a year to the economy and helping Britain thrive. Lloyd’s, the accepted birthplace of insurance, has become the world’s leading market for specialist insurance and is technically the only insurance marketplace. Central to its long and colourful history, its agreed motto Fidentia, Latin for "confidence" which is closely related to the Latin phrase uberrima fides, or "utmost good faith"- representing the relationship between underwriters and brokers.

COVID-19 has affected every person in one way or another, all over the world. This can be seen in how we shop, travel and interact with one another and how our business operates. Consequently, our industry has been irrevocably changed and as we all try to adjust to the new normal, ensuring we meet the expectations of customers and, for regulated business the Financial Conduct Authority (FCA), we’d like to try and clarify how we are now working; how it protects you and your customers and how it aligns with our commitment to being a responsible lender.

Life has changed beyond belief as a result of COVID-19 but I am certain the future is bright – particularly for those embracing the latest technology to serve partners and customers better. 2021 will be a year of opportunity for those making the most of the digital age. The application of technology will keep the wheels of commerce turning however bleak the outlook appears enabling a frictionless customer journey. Having invested heavily in our core IT platforms over the past 5 years, Premium Credit continues to provide and develop significant self-serve functionality that has been a meaningful benefit during the pandemic and will serve us well in 2021 and beyond.