By George Abbott

March 27 - (The Insurer) - In the latest episode of Young Meteors, Jamie Warwick, a senior broker at Amwins Global Risks, shared his view that the competitiveness in insurance broking is hindering collaboration within the industry.

"We’re all about competition in this industry, but I try to focus more on collaboration," Warwick stated. "It would be really beneficial if we could avoid constantly being at each other's throats. We’re all here to get deals done, so why not focus more on that?"

Warwick started in the industry on the QBE graduate scheme before leaving to work at ILS Capital Management for seven years. At Amwins, he is a senior broker for portfolio reinsurance solutions.

Warwick identified "pigeonholing" as a key factor contributing to the competitive atmosphere. Brokers are forced to specialise in specific lines of business early on, leading to a market where individuals continually compare themselves to their peers, he suggested.

"Broking is particularly tough," he noted. "It creates a natural competition where everyone’s looking over their shoulders, wondering if they’re keeping up with the people in their class," Warwick said

"Not just on business, but even in how you sit within a company, you know, seeing if somebody gets promoted. It can fuel some people on, but it can really turn other people off as well, which is a real shame,” he added.

Warwick also pointed out that while the close-knit nature of the insurance industry can foster friendships, it can also result in long-standing grudges.

"You know, your careers run parallel to each other all the time, which is a great thing; you make some great friends, but it's also bad if you make some great enemies as well," he said.

Click here to watch the previous Young Meteors episode with Munich Re Specialty's Bazil Ansari.