Ahead of CFG's Annual Conference, Stewart Archdale from conference sponsors PIB Insurance Brokers talks about surviving and thriving in a world of continual change.
It has been a challenging few years. What are the biggest issues facing your charity and not-for-profit clients right now?
Firstly, financial sustainability. Many charities face ongoing challenges related to financial sustainability, including limited funding sources, increased competition for grants and donations, and the impact of economic downturns.
These factors can make it difficult for charities to maintain their operations and deliver their vital services.
Secondly, digital transformation and cybersecurity. The rapid advancement of technology brings both opportunities and challenges for charities.
Embracing digital transformation can enhance service delivery, fundraising, and communication, but it also exposes organisations to cyber risks. Cybersecurity threats, including data breaches and ransomware attacks, pose significant challenges for charities.
What are you doing to support charitable organisations, so that they can not only survive, but thrive?
We develop close relationships with our clients which enables us to understand the current challenges they face and work with them to deliver effective insurance solutions which will either reduce cost or provide better coverage to allow their charity to thrive.
We act for some of the leading charities and healthcare providers in the UK and have a wealth of experience when it comes to ensuring appropriate protection for our not-for-profit clients. The clients we support include faith, homelessness, education, domestic violence, among other, however, we have a particular specialism in the healthcare and learning disability sectors too.
Providing excellent service to our clients is our upmost priority. We are agile and fast moving, pro-active and are able to leverage the scale of our business when it makes sense to do so to meet our clients’ needs.
What are the key ingredients for survival in a world of continual change and uncertainty?
Flexibility and being open to change and adapt plans and strategies when needed. Charitable organisations need to be able to identify, anticipate and manage risks and implement risk management strategies to minimise their impact.
What do charities need to be most prepared for?
Cyber incidents, scrutiny of decisions taken by trustee and senior management, inflation and the recruitment and retention of staff. Early engagement with us will help to mitigate these risks.
Why is the CFG Annual Conference important to charities and organisations like yours?
The CFG Annual Conference gives us all the opportunity to speak to people face to face, learn more about the charities we have not yet worked with, and offer advice and support.
What are you most looking forward to at this year’s Annual Conference?
Meeting new faces, catching up with our existing clients, hearing from guest speakers. We'll be there to answer any insurance or risk management questions.
Looking forward to it!
Our Annual Conference on 29 June is now fully booked. But you don't have to miss out! Please join us online during Annual Conference Week when we'll be running a range of exciting online sessions!