insurancepeople issue 50 February 2015
e suranc n I e h “T ith zine w Maga ality� Person
Gary Johnson See page 10 Insurance People inside include:
Chris Ashworth
Reg Brown
John Gibson
James Dickerson
Nick Giddings
Dean Lamble
Malcolm Forbes-Wilson
Andy Hawkes
David Pearce
Elizabeth Holt
Duncan Pritchard
ition th 50 Ed
NUMBER 50!
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Customer expectation zooms skywards he rise in ‘customer expectation’ rolls on, fuelled by the removal of many obstacles inherent in the traditional retail process. The ease of buying is being driven, not directly by consumers themselves, but by innovative delivery by those suppliers raising the standards.
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Editor and Publisher
Consultant Editor
Andrew Newman
Brian Susman
Commercial Director
Production Director
Jeni Hall
Adrian Susman
Editorial
Andrew Newman FCII, Dip.M andrewnewman@talk21.com 01892 730539 Design & Production
Adrian Susman adrian@insurancepeople.uk.com 07981 993974 Commercial Director
Jeni Hall jeni@insurancepeople.uk.com 07969 510172
Take the example of the December 2014 online shopping and service experience which revealed the level of excellence some providers are now achieving. Items ordered one day, arrive the next. And some emergency domestic service calls provide the same response, with predicted arrival slots and live tracking.
February 2015
In this issue 2
Late news
3
Market talk
8
The 2015 crystal ball Chris Ashworth, Innovation Group
9
Motor James Dickerson, Towers Watson
Inevitably this performance throws unfavourable pressure on those suppliers still using yesterday’s ‘allow 21 days for delivery’ or ‘we will call anytime between 7am to 6pm’ – and then fail to turn up! Once customer expectation is raised by a few, it quickly becomes the norm, with the threat of leaving tardy retailers drowning in their wake.
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Interview Gary Johnson, CDL
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Risk management Andy Hawkes, Cardinus
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Commercial Lines Nick Giddings, PowerPlace
Which begs the question – which of today’s insurance providers will prove capable of forging ahead among the leaders in this revolution?
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Direct business Dean Lamble, SunLife
15
www.insurancepeople.uk.com
Who said insurance is boring? The late Malcolm Forbes-Wilson memoir continues
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Pensord Magazines & Periodicals Tram Road, Pontllanfraith, Blackwood NP12 2YA
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Reg Brown The Postcard Emporium
insurancepeople PO Box 537 Tonbridge Kent TN12 9WG t 01562 862990 m 07981 993974 e adrian@insurancepeople.uk.com Also find us on:
17
Pet cover John Gibson, Markerstudy
12
Andy Hawkes wants 2015 to be ‘Risk Management Year’
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Nick Giddings looks ahead at commercial lines in 2015
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Customer service Duncan Pritchard, Commercial Express
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Elizabeth Holt Public relations
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News
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On the move
ISSN 2043-9202 Insurance People is published monthly by Buttermere Wedge Publishing Limited. While every attempt has been made to ensure that the information contained within this publication is accurate, the publisher accepts no liability for information published in error, or for views expressed. All rights for Insurance People magazine are reserved. Reproduction in whole or in part without prior permission from the publisher is strictly prohibited.
Who’s going where?
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17
John Gibson considers the hazards of designer dogs
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Duncan Pritchard believes happy staff mean happy customers!
On the Road Some fictional characters need insurance!
FEBRUARY 2015 insurancepeople 1
insurancepeople
Late News
in association with
Applied Systems integrates premium finance A
pplied Systems has announced a partnership with Close Brothers Premium Finance to integrate premium finance products into Applied TAM. Brokers will now only have to enter client and prospect finance requirements and information into Applied TAM, eliminating the need to rekey information into multiple systems and automating the data exchange between the brokerage and Close Brothers Premium Finance. “We recognised early on
that software integration was crucial for brokers to deliver competitive premium finance offerings,” says Sharon Bishop, chief executive officer, Close Brothers Premium Finance. “Integration of our premium finance products into Applied TAM furthers our mission to enable brokers to focus on arranging the most comprehensive insurance policies in the UK while we focus on providing insurance consumers with a superior range of flexible and economic payment plans.” Jeff Purdy, senior vice
Launch of “My Premium Credit” remium Credit has launched a new online tool in support of commercial brokers. ‘My Premium Credit’ aims to enable insurance brokers to streamline the administration process of
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Simon Moran
2 insurancepeople FEBRUARY 2015
setting up premium finance agreements for commercial clients, eliminating the need for paper, faxing, scanning or uploading of any documents. Simon Moran, chief marketing officer at Premium Credit, says, “My Premium Credit simplifies the credit agreement process, removing much of the admin for brokers as well as reducing the risk of lost paperwork. All they have to do is submit online the details of their agreement to us with a client email ID and then we set up the client with their own online account.”
president of international operations, Applied Systems, adds, “Premium pricing and the availability of financing options are key factors driving today’s consumers’ satisfaction with their insurance coverage, requiring brokerages to evolve business and customer service models to deliver a differentiated offering. Through integration with Close Brothers Premium Finance, UK brokerages can now quote, bind a policy, and arrange financing as part of the same process in Applied TAM, increasing staff
Jeff Purdy
productivity and improving client service to drive business growth and profitability.”
Special risks division for Thomas Carroll homas Carroll Group's new Special Risks division is aiming to develop its specialist risk management schemes for the franchise sector, professional bodies and trade associations. The group has recently been appointed a professional supplier to the British Franchise Association. Recruited to head the Special Risks division is Marian Evans, who joins from NFU Mutual, where she was an area sales manager.
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Cardinus enters risk survey market ardinus Risk Management has launched a new insurance survey solution with the aim of providing insurers, brokers and policyholders with a faster, more efficient and expert based service. At the same time Cardinus has recruited Andy Heaton, previously general manager of field services at Risk Stop. Commenting on the launch, Jamie Truscott, managing director of Cardinus Property and Insurance Division, comments, “Having built a leading risk assessment solution for retail property owners and managers, we see our entry into the insurance risk survey market as a natural evolution. Andy Heaton has a wealth of insurance surveying expertise and a network of contacts and we are looking forward to working together to launch and grow this new solution.”
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market talk
Andrew Newman
in association with:
Gallagher opens in Cornwall he recent opening of a new regional office in Cornwall by Arthur J. Gallagher provides a good opportunity to recall earlier times in this part of the ‘on the road’ world, while catching up with modern industrial development that takes the Duchy beyond just beer, pasties, and clotted cream. More about those delicacies later.
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The new Gallagher branch is sited in Victoria Business Park, Roche situated between Bodmin and Newquay. As I remember Roche from early family holidays it was ‘in the middle of nowhere’, but today is enhanced with this newly expanded multi-purpose development just off the A30 – itself widened from earlier times and which last year witnessed the opening of Cornwall’s first motorwaystyle services area. Developments such as Aerohub at Newquay airport also help bring the peninsular closer to the rest of the business world. Regional managing director, Gary Fletcher, highlights
Gary Fletcher
the significant scope for growth in Cornwall with an increase in the number of businesses relocating and generating new jobs. “There’s a real knowledgebased economy emerging in Cornwall. The Duchy is home to an increasingly diverse range of businesses, with expansion in sectors such as technology, aerospace, and renewable energy alongside the more traditional tourism, farming and lifestyle-orientated industries associated with the area, making for a rich spectrum of risk exposures which we can help firms mitigate, manage and transfer. “We place huge importance on being able to offer local service, backed up by national specialist expertise – and we know our clients value that too. This is a fantastic opportunity for us to build our business in the South-West by devising bespoke insurance solutions for every type of business, both small and large.” The newly recruited team of former Towergate people includes Carl Jolly, appointed as a senior account executive. He brings 15 years’ experience and joins after ten years with Towergate, where he held a similar position. Chris Spencer is also a senior account executive and began his decade-long
Left to right: Carl Jolly, Ann Bennett, Lucy Sime and Chris Spencer.
career as a graduate with NFU Mutual, spending a further five years at the insurer before moving to Towergate, acting for the past three years as an account executive. Ann Bennett is an account executive bringing 20 years’ experience — the last 10 split between Bluefin and Towergate, where she worked as account handler and senior account
handler respectively. Lucy Sime is another account executive, and her insurance career began at NFU Mutual in 2008 where she spent five years based in Devon before moving to Newquay in 2013 with Towergate. With existing branches in Exeter and Barnstaple, Arthur J. Gallagher now has strong representation across SouthWest England.
The Pasty Factor T
here used to be a good number of people on the branch management ladder who favoured the West Country, having committed their family to up sticks and go anywhere when the call came. It was beach summer holidays in youth that made Cornwall so magical, with fond memories of blue, crystal clear seas, cider, pasties, and clotted cream. Working there was somewhat different. Not much business to be had, poor roads, teeming tourists in summer and snowy winters. The isolation was overbearing – when the locals spoke about “up North” they meant Barnstaple! The Editor FEBRUARY 2015 insurancepeople 3
market talk The Don takes a breather Top ten classics
Marc DonF moves on Scrapheap Challenge was intrigued to learn that Marc DonFrancesco (what a wonderful name for an American Football quarterback that would be!) is moving on from Absolute Solutions.
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Having gone from roles where he played a big part in improving the image and defending the reputation of various firms, including Towergate, Marc has spent the past couple of years developing the profile of this specialist fraud business. And there’s no doubt that he has achieved just that, as Absolute CEO, David Beardsworth explains. “Marc has firmly put Absolute ‘on the map’, surpassing expectations, and was a professional and effective member of the management board. Our profile and industry award recognition brought insurer interest and client relationships, and focus has naturally shifted to the
Marc DonFrancesco 4 insurancepeople FEBRUARY 2015
operational follow-through and embedding of current and new clients, as well as a major partnership we have developed. He leaves us well placed for the future, remains a friend of the company and leaves with our very best wishes.” Marc seemed upbeat about his time at Absolute. "We made serious progress and the coming months are a time for TLC at the front end to help new users fully embrace the services, rather than sales, marketing & comms. It’s now about rolled-up sleeves to make it is as easy as possible even the most enlightened insurers cannot always implement change as quickly as they would like. Absolute is a great business and 2015 will be a big year for them.” I asked Marc about his own plans. “I’m looking at a few projects and ideas to which I couldn't previously give attention. This also gives me the capacity to give some help to old, and new friends before re-emerging in the coming months." Marc doesn’t seem to have fallen out of love with the insurance sector. “It’s in my blood after over 25 years, and I think it is as relevant and innovative as ever.” So whether as an insurer, intermediary, or other, it will be good to see him back on the scene soon.
hat’s the insurance industry’s foremost sector when it comes to practitioners wallowing in their enthusiasm for the ‘subject matter of the insurance’ (to quote the CII textbook)?
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Back in 2013, IP ran a series teasing the Graham Ellis classic car insurance fraternity. This ‘scrapheap challenge’ prompted the question - what classic treasure would you most like to discover under a pile of scrap metal? Or tucked hidden away in the corner of an old barn? The latest person to take the challenge is Graham Ellis, niche/schemes underwriter, personal motor at Ageas UK. His choice falls on the Austin-Healey Bugeye Sprite (known as such in the USA, and the Frogeye over here in recognition of the ‘face’ when looking at the car head-on). The opportunity to pin Graham down on this challenge came about via a useful recent press release from Ageas Insurance which revealed the top ten classic cars covered through its specialist cherished vehicles policy Optima Classic Car. Nine out of ten of the cars on the list are British-made with the MG B in the number 1 spot. Graham Ellis: “What really stands out for us is that the British-made cars are still so cherished, manufactured before the UK motor industry got into dire straits.” Photo: Paste at English Wikipedia
Top Classic Cars Ageas Optima Classic Car Insurance 2014 1. 2. 3. 4. 5.
MG B MG Midget Triumph Stag Land Rover 88 Porsche 944 LUX
6. 7. 8. 9. 10.
MG B GT Triumph Stag Auto Jaguar E-Type Morris Minor Triumph Spitfire
in association with:
“Who writes claims farmers’ scripts?”
The hedge and the claims farmers eaders of this column may recall a recent motoring incident at Chez Newman. A good length of my front garden hedge was demolished by a young lady motorist covered by an insurer going under the perhaps rather flippant name of ‘Drive like a girl’ (somehow I can’t see that name ever being enshrined in the stained glass windows in the Great Hall in Aldermanbury).
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Armed with a cheque for the cost of replacement, the power of brand awareness kicked in as my first thought was for a firm called Hedges Direct. Not only was this firm at the top of the Google list when I
first looked them up (they still are today having just checked) but it was the names of the owners of the business that really did the trick – former insurance people par excellence, husband and wife David Pearce and June Price. David was formerly the chief executive of telebroker People’s Choice, who later took on a number of consultancies, and became chairman of TEn Insurance Service in 2005. June worked in the Swinton HQ in Manchester, eventually becoming the
marketing director of the organisation. Another pleasure when I first contacted Hedges Direct was that, not only was the response friendly and helpful, the voice turned out to be Paul Shipley, a former Swinton regional director who I often bumped into during my ‘on the road’ days. Needless to say, when David and I began talking about the aftermath of the hedge accident, the topic of vulture-like claims farming came up. Having suffered a small non-fault shunt in the
Hedges Direct can be found at: www.hedgesdirect.co.uk
'Bikers Only' car policy from Carole Nash
rear on wife June’s car, David reports that it was sorted out by the TP forking out the modest full cost of repair. “We duly notified her insurer as per the policy t’s and c’s,” says David. “What a mistake! We received around fifty calls over the following 12 months. Some of the scripts being used were laughable. Which makes you wonder who trains these people? But we decided, in the end, that these were attempts to glean personal information for future use, rather than claims farming. Our contact details, however, were apparently, freely available.”
One from the archive
new policy launched by Carole Nash Insurance Consultants picks up on recent research that finds motorcyclists' knowledge of road safety is almost twice as good as that of car drivers. The new policy is entitled 'Bikers Only'.
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Rebecca Donohue, head of marketing for Carole Nash, says, "One of the reasons motorcyclists score so highly is they have to have their wits about them at all times. It's an exhilarating way to travel, but it can also be dangerous unless you are aware of everything around you, and know the rules of the road.
Rebecca Donohue
“Those on two wheels were also much better at recognising road signs,” says Rebecca. “Twothirds of motorcyclists were able to correctly identify the sign for the end of a dual carriageway, whereas just 37% of drivers got
Messrs Newman and Pearce discuss hair loss remedies at a dinner in 2006
the answer right. Given 12 road signs to identify, car drivers finished second behind riders in eight categories. “Starting from the premise that motorcyclists need by necessity to be more aware of road hazards and therefore make more alert and safer road users, Carole Nash is now guaranteeing not simply to match, but to beat, bikers’ car insurance renewal quotes.” Bikers Only Car Insurance is open to bikers aged between 35-75 who hold both a full bike and car licence, irrespective of whether they own a bike. FEBRUARY 2015 insurancepeople 5
market talk NVW provide the longevity answers
Is working past 60 a good thing? here was a wonderful newspaper photo in January of model Twiggy at 65. It set me to thinking that practically all the people ‘of a certain age’ this editorial chair allows me to meet don’t look as old as previous generations once did.
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Take Albert Steptoe if you happen to see an old black and white TV re-run from the 1960s. He was depicted as ‘old’ at 55 in that script. So were his ‘girl friends’ of similar age, dolled up to look like… well, old ladies. Of course, I’m mainly meeting people who are still working. And that might have something to do with this. I spoke with former Independent Insurance man Neil Williams at Tunbridge Wells-based NVW Solutions after referring to the question in the above title to be found on his website www.nvwsolutions.co.uk Wearing his coach hat, this is what Neil has to say on the ageing process:-
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The Editor invited me to put a few words together, as we are both getting close to our dotage (whatever that means!).
I can recall my Granddad at my age being a very old man indeed, mainly sitting in the kitchen in his suit, waistcoat and of course his grand pocket watch. Can you recall your relatives when they were in their 60s, 50 years ago? Many people can afford, and want to retire at 60, and have plenty of hobbies to pursue. Why shouldn’t they enjoy themselves after 40+ years of working? On the other hand, many people need to keep on working, or just enjoy it. (Andrew and I do a bit of both!).
Many people I coach have to reinvent themselves in their 50s knowing they still need to work well into their 60s. Here are my tips if this happens to you:1. Grey hair can count if you have the right experience and knowledge to pass onto people - as long as you are credible; have something real to offer; and are willing to put yourself out there!
2. Always have a positive attitude and continue to look forward - not backwards! (“In my day we did this”... doesn’t go down well). Always have a project in mind. 3. What do you enjoy doing? What are your strengths? Maximise these in whatever you do whether a job, volunteering, or a hobby. 4. You might not have the stamina you once had, but think flexibly and pace yourself. You can achieve great results. 5. The most important ingredient is to keep fit… and also find time to relax. Find the life, or life/work balance, that works best for you. The good news is that both the Editor and myself are aiming for our ton, and that could give us another half of our life to come. So ENJOY!
It’s all in the Mind! I spoke with Neil Williams again after the above conversation, and subsequently with several other members of the insurance people clan when this topic came up quite coincidentally. It seems it’s agreed that there’s another important point that can be added to Neil’s 1 to 5 list as shown above, and it applies to everyone, not just the 60+ group.
6 insurancepeople FEBRUARY 2015
Neil Williams
And that requirement in the insurance world of today is something that never appears on any job application form (as far as I know). This key aspect relates to attitude of mind. Having a sense of humour. The ability to conduct and direct a business professionally and in a disciplined fashion, without coercion, bullying, pomposity, or greed.
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The ability to laugh at yourself was how one contact put it. To put people at ease when in your company, and to say what you mean, and mean what you say. Food for thought – and of course some of the contacts extolling these virtues are already lined up to enhance future pages in Insurance People. Watch this space!
“More of the same” at A-Plan Fraud education still has a long way to go
in association with:
A-Plan partner with HgCapital he press release revealing A-Plan’s new capital from HgCapital arrived on the IP news desk on 15 December just before Christmas, and would have been very well-timed for yours truly, since just four days later CEO Carl Shuker and his colleagues at A-Plan were to host a lunch at one of the West End’s plushest hotels – to which I had been invited.
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Alas, my Christmas break started somewhat earlier this year than usual, so instead of turkey and an inside track on the A-Plan news item, I was at Gatwick and Euston gathering in the family for a splendid three-week New Year break.
But I caught up with Carl later, on the news that mid-market private equity investors Equistone Partners Europe was to sell its majority holding in A-Plan to HgCapital. Equistone originally backed the current management team in a primary buyout in 2008, since which time revenues increased from £44m to around £73m. During this
Carl Shuker
Kwik Fit get the fraud message across etting the insurance fraud message across to consumers is one of the industry’s big projects of our time. A recent press release from Kwik Fit Insurance Services restated the false application information aspects, but proved especially useful because it was aimed at consumers rather than the insurance fraternity itself.
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The press release hammered home the ABI’s findings that detected insurance fraud hit a record £1.3bn last year, up 18% on 2012. The ABI’s word ‘detected’ was omitted from the release – whether by accident or design. (It’s not the fraud that’s going up – it’s the detection that is rising). But for consumer purposes none of that matters. It’s the message that counts. Managing director at KFIS Jason Banwell highlights the confusion that exists around insurance fraud. “While 94% of respondents know that giving false information at insurance
time the business opened 19 new branches and has increased staff to around the 1,000 mark. Carl tells me another four branches were opened last year with several more in the pipeline – Macclesfield, Ipswich, Shrewsbury, Taunton and Maidstone. Every new office will have a manager promoted from within. “There’s quite a robust management development programme in place, and we’re really pleased to be partnering with HG,” says Carl. “The change has has been hard work, but we are all very excited by the future and are delighted to be supported by Hg, who back our
growth plans, which are based on more of the same.” On the subject of private equity, Carl adds “I think private equity sometimes gets an unfair press. Our experience has been that they are a force for good. In our case Equistone, our previous investors, have backed our growth plans, and I think they're a great example of private equity really helping a business to develop. And all at a time when many competitors have left the high street. “But sustainable growth boils down to adding value. If you can add value, people will come to you. If you don’t add value, they won’t!”
quote stage is fraud, many simply don’t understand the seriousness of this.” And it is not just among cashstrapped younger customers where this confusion exists. At how many dinner parties among the more affluent has the following ‘confusion’ been exposed? Jason Banwell LADY HOSTESS: Did I tell you I found my wedding ring? It was sitting in a drawer for two years!
GUEST: Did the insurance pay up? LADY HOSTESS: Yes, straightaway. The full replacement cost. I sent them the money back last week. GUEST/S: (horrified) Why on earth did you do that? The insurance fraud education project still has a long, long road to go. FEBRUARY 2015 insurancepeople 7
looking ahead to 2015
Chris Ashworth MANAGING DIRECTOR UK MOTOR AT INNOVATION GROUP
Trend predictions for the UK insurance market - 2015 Chris Ashworth looks into the crystal ball for the coming year he year 2015 will be a tipping point for the insurance sector. Other industries, specifically the retail sector, have been using technology and intelligent data analysis for some time. This has helped them provide deeper consumer insight, create stickier customers and, ultimately, boost the bottom line of their business.
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However, the insurance sector is lagging behind. This year the industry will need to sit up and truly take notice of the technological revolution. This will define success for those businesses who are flexible and forward thinking enough to capitalise on new technology and think digitally. Those who don’t will simply be left behind. There are three key areas in which I feel the market will change across the course of the year…
Deriving value from data The Big Data revolution may already be here, but it could be argued that the insurance sector is still lagging behind industries like the retail sector. Consumers are already used to bespoke, personalised offers by retailers, tailored to their individual shopping habits, but much insurance data remains unstructured and unorganised, meaning that insurers are yet to capitalise on its full value. The recent CII Future of General Insurance survey showed that eight out of ten insurers are planning to make an investment in Big Data in the next twelve months, and 75% are planning to use it to improve underwriting and risk assessment. What will be important for insurers in 8 insurancepeople FEBRUARY 2015
2015 is how they treat the data they collect, and how much value they can extract from it. This will come to shape their ability to remain agile in an increasingly competitive market where success is becoming measured by those who act first.
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Success is
becoming measured by those who act first
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Customer loyalty as the new front line The balance of power has already shifted – firmly in favour of the consumer. Whilst other industries have changed and adapted to the new world, the claims side of insurance is yet to catch up. The old adage goes that the customer is always right, and this has never been truer than today where access to online comparative sites allows customers to shop around, and ensure they’re getting the best deal. Keeping customers is equally as important as winning them in the first place. In 2015 consumer loyalty will be the new frontline of competition for insurers, and relationships need to be managed more closely than ever to ensure that loyalty is embedded into the buying cycle from day one. It’s therefore more important than ever for insurers to make sure that when
“The insurance sector is lagging behind”
they win customers they offer services that match their exact needs, up sell where appropriate, and form a personal relationship through customer service that will retain renewals.
Meeting consumers on their territory With more flexible policy options demanded by consumers, transparency and a willingness to meet and serve the consumer on digital channels will be increasingly important. Customers expect to engage via social and digital platforms, and the industry needs to predict, rather than react, to changing consumer demand. Online channels have levelled the playing field for insurers, and smaller insurers are able to take advantage of their size by scaling at a speed and at a lower cost than more established businesses. The question for 2015 is whether incumbent insurers take note of this shift in public sentiment and adjust their product portfolios and their practices accordingly? In order to stay competitive, and not risk becoming a dinosaur, insurers will have to adopt digital; meeting the customer eye-toeye and ensuring that they are at the very heart of everything they do. Technology is helping the industry change, and it’s very much a change for the better as more insurers realise the potential of data and digital engagement. A more customer centric approach, facilitated by intelligent analysis, will allow insurers to tap into new revenue streams whilst improving the experience given to existing policyholders. The year ahead is going to be tremendously exciting and will help define the shape of the industry landscape to come.
motor
James Dickerson SENIOR CONSULTANT INSURANCE MANAGEMENT CONSULTANCY AT TOWERS WATSON
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Finding greater success in the business you write
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Fostering innovative change from a flexible platform In an industry frequently criticised for failing to move with the times, the pace of change and competitive landscape of UK motor has pushed underwriters to adapt to change. James Dickerson asks the question as to whether more companies could benefit from innovation flowing more naturally through their organisation
Organisations that advocate controlled risk taking, autonomy, and open dialogue between departments to develop solutions that address market opportunities, competitor challenges or internal issues, are likely to adopt new ideas and adapt to change far more smoothly.
otor insurers have had to adapt to a variety of factors to remain competitive. Those factors include the rise of the aggregator, and widespread changes to the most common distribution channels. And there are more recent advances in the use of smart phone applications, telematics-based pricing structures, and big data.
This kind of agility has become all the more important with the trend towards managing insurance businesses focused primarily on the consumer.
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And all this has taken place in a market where regulatory changes and overcapacity have continued to add pressure to premium rates, expenses, and combined operating ratios.
So what differentiates the more innovative organisations? Steve Jobs, founder of Apple, was once quoted as saying, “Innovation distinguishes between a leader and a follower.” According to him, some firms were able to lead the way in implementing proactive innovative changes, whereas others were forced, reactively, to follow suit in a bid to defend their market share and customer base. Money does not necessarily foster invention, as Jobs was naturally happy to point out. When Apple came up with the Mac, IBM was spending at least 100 times more on research and development. In his view, it was
more about the people working within a company, how they were led, and the extent to which they understood that innovation was encouraged and part of the culture. However, there is no ‘magic wand’ that is capable of wielding successful innovative behaviour. Rather, it requires that a number of factors be aligned to provide the right environment for successful innovation to thrive. In the majority of cases, successful innovative change must be driven from the top. This does not mean that groundbreaking ideas, with the potential to change the direction of a company or market dynamic, cannot arise from anywhere in an organisation. However, what is critical is that, when ideas do arise, they are given the appropriate appreciation, senior sponsorship, and support from across the business. If this does not take place, realising successful innovative change can be a long and painful, if not impossible, process. he structure of the organisation is also fundamental in providing an environment that identifies, appreciates and supports the development of innovative ideas and approaches.
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Pricing functions are contending with an increasing market need for sophistication, the wider use of data, and the need to be flexible enough to get accurate, yet competitive, rates to the market in the quickest time possible. Therefore, it’s also difficult to envisage significant innovation without the appropriate technical systems and tools being in place to support change. Given the current market conditions, the availability and accuracy of data and flexible pricing information is more critical than ever. For all the somewhat premature talk of driverless cars invading our roads, it is apparent that technical developments in the motor industry will continue to affect how we drive as well as how we are insured. While there should be no assumptions as to who is best placed to benefit from these, those who are prepared to embrace innovation are the most likely to lead the way and ultimately find greater success in the business they write. FEBRUARY 2015 insurancepeople 9
interview
Gary Johnson CDL GROUP MANAGING DIRECTOR
Introducing… The Codeworks! CDL enters 2015 on the back of a landmark year for the Stockport-based software house. It saw CDL enhance its strategic partnership with Ageas Retail and generate revenues of £34m, up 12.5% on turnover the previous year. 2014 also saw the company complete two new significant building developments adjacent to its Strata House head office, creating a platform for further expansion. The Editor caught up with Group MD Gary Johnson to find out more about both recent and future activities AN: Considering that there’s a lot of competition around in the software solutions arena, how do you account for the CDL growth over the past year? GJ: The year 2014 was a busy year in terms of deployments, both for existing and new clients. The enhanced partnership with Ageas Retail was, of course, a significant event that will see CDL migrate over 2 million policies to the Strata software solution. Beyond this, it was a busy year on several fronts; deployments included DriveStyle Insure and Sure Thing! and the migration of several customers to our Strata solution, and the development of new insurer hosted rating modules for insurer partners, such as Markerstudy. We also developed integrations to telematics service providers, such as Octo Telematics, to expand the range of telematics products and services available to customers. All in all there has been much activity to keep the management 10 insurancepeople FEBRUARY 2015
and CDL's expanding workforce busy, which is great from our perspective. AN: What do you see as the critical success factors? GJ: CDL has kept its focus on the high volume retail sector, and continued to invest significantly in Strata to ensure it meets the needs of the modern consumer. Take-up of consumer self-service, for example, is as high as 97%, and has become an absolute 'must have' for online retailers, making Strata’s comprehensive self-service functionality a major asset. Beyond this, the emphasis has remained on supporting our customers to become more efficient and profitable through software developments that continue to increase the ratio of live policies per staff member. One aspect of this has been the launch of a new browser-based Strata interface, based around flat design that gives the contact centre software a similar look and feel to
consumer sites. This is being piloted within Ageas Retail and has been very well received, contributing to reduced training time, as well as providing a more consumer-centric workflow.
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Increasing the
insurer ratio of live policies per staff member
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AN: What plans do you have for the future? GJ: Each year sees the company invest 15% of turnover in research and development, and this is enabling us to continue to evolve the software in ways that deliver greater integration of functionality, greater control to retailers, and an improved customer journey, both for consumers and advisors in the contact centre.
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A continued focus on the high volume retail sector
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AN: Can you provide an example of that? GJ: Yes, a good one would be the investment in our Connected Home project. We recently developed the capability to link 'smart' devices in the home to Strata, which enables alerts about water leaks or smoke alarms to trigger actions in Strata, in the same way that our telematics systems already respond to specific types of driving behaviour. In the short term, we are focusing on combining ‘big’ data processing capability with our enrichment and real-time pricing tools to support increasingly sophisticated pricing and also to help prevent fraudulent insurance applications.
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Giving retailers
immense power at point of sale
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Our investment in IBM’s Pure Data analytics solution means we are now able to analyse 24 hours of aggregator data in 10 minutes,
The Codeworks
rather than 26 hours previously. This gives retailers immense power at point of sale.
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It coincides with the completion of CDL’s state-of-the-art data centre, which will become our primary hosting facility and gives us additional capacity as part of our campus expansion.
forward for the
AN: Yes, tell me about the new campus. What does this expansion of CDL’s site mean for the future? GJ: The completion of our new office development - The Codeworks - is a significant step forward for the business. For one thing, its location on the same site as our Strata House headquarters allows us to bring all the workforce onto one campus rather than being spread across three locations in Stockport. The scale of the building also creates new possibilities. For example, locating our service function in The Codeworks has enabled us to expand the team and bring in specialists from around the business to work alongside it. This is already impacting positively on
The Codeworks
is a significant step business
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response times and resolution of any issues, and is part of wider changes designed to support our ambition to provide world class service levels. AN: How have the changes been received? GJ: The working environment in the new building is a great asset and there’s a real buzz about the place. We see it as just the start of things to come. Attention has now turned to the refurbishment of Strata House to improve facilities, in line with The Codeworks and data centre, and the investment is helping attract more talent to the company. AN: And what about your people? GJ: People are key to CDL’s success and we have been able to create new links and raise our profile in the community through the development process, from commissioning local students to design an interactive art installation for The Codeworks’ atrium to working with Stockport Council and environmental charity, Groundworks UK, to improve the public pathway that runs alongside the campus. Ultimately, the developments are much more than just buildings. It’s part of a wider picture of investment in the long term future of the company, and the expansion of the Strata campus coincides with investments in our software and technology. It is a fitting base from which to support our customers well into the future. FEBRUARY 2015 insurancepeople 11
risk management
Andy Hawkes CEO CARDINUS RISK MANAGEMENT
Make 2015 your ‘Risk Management Year’ Insurers and brokers are missing a trick when it comes to adding to their income streams in these changing times. Andy Hawkes highlights the failure of the insurance profession to actively promote and deliver risk management solutions to clients who seem happy to go direct - without involving their insurer or broker! ver the past three years Cardinus has been writing technical articles to help brokers and insurers with aspects of risk management ranging from construction, to fleet and property to ergonomics. We work with many of the world’s largest businesses as well as mid corporates and SMEs, and we deliver a vast range of software and onsite solutions.
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And yet, I’m disappointed. Why? You may well ask. It’s because only 6% of our global revenue is generated from insurers and brokers, and whilst this is a great opportunity, it also highlights the failure of the insurance profession to actively promote and deliver risk management solutions to clients who are obviously happy to pay us directly! I know some insurers carry out surveys, and indeed we launch our own IT-driven insurer, MGA, and broker survey solution this year. But for me, too few brokers either deliver risk management themselves, or refer companies like Cardinus to help clients manage a whole range of risk many not even covered by insurance policies. t Cardinus, we believe brokers are better placed than anyone to spend time understanding the risks faced by client businesses. But so often it seems, the focus on commission earning blurs the potential income from expert risk management advice.
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Many firms still don’t understand
the implications of the ‘grey’ fleet
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A good example is the so called ‘grey’ fleet. With the advent of corporate manslaughter legislation the business use vehicle is one the of main potential sources of work-related deaths, and the non-owned vehicle, used on business, is regarded as the biggest risk as there is less control. Many firms still don’t understand that this is all subject to the Health and Safety at Work Act. Brokers should be advising 12 insurancepeople FEBRUARY 2015
on this risk, regardless of premium and commission, yet most ignore this. e want 2015 to be the year that brokers and insurers actively promote, advise, refer, and embrace full risk management for all clients!
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And, there’s lots of margin in delivering great expert advice, even if you only refer to a consultancy. At a time when the FCA is looking at commission disclosure, isn’t it the time to sell advice and not just a cheap policy? Typically a broker will earn 25% commission on software e-learning and online assessments and 10% on on-site audits, consultancy and training when referring business. But why not take the plunge and train staff to NEBOSH, IOSH levels and take 100% of the fees? Or go even further and develop enterprise or holistic risk management expertise, and support clients across a wider risk management programme.
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Why not take 100% of the fees?
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I recently attended an Enterprise Risk Management course run by IIRSM and it was clear that risks that can be insured are only a fraction of a business’s risk register. Some of these risks are clearly external and impossible to manage at acceptable costs, and for all organisations profit only exists at the point of risk… after all, that’s how insurers and brokers make a living. This non-insured risk portfolio does offer profit opportunity to help clients develop risk management systems, and advice on the strategic risk issues in any business will always win and help retain the insurance account! So, let’s all wake up in 2015 and think risk and think profit!
commercial lines
Looking ahead in 2015 development of specific products aimed at this market will continue, and equip brokers with a stronger product offering to serve their customers.
ast time, we looked at how the landscape of commercial lines was changing for the insurance industry and how the mix of e-trading and faceto-face transacting was equally as important to serving the diverse UK SME market.
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Now we are in 2015, what does this year hold for commercial lines and PowerPlace? It’s important to remember that the SME market is very competitive, and an important part of the commercial insurance space given that SMEs represent 99% of UK businesses. Therefore we cannot treat them as one segment. It is too diverse, and it is paramount that as an industry we continually keep updated on SME trends, behaviours, and expectations. As we look forward there are a number of critical factors that will continue to influence the success and growth of the commercial lines landscape for our brokers: Firstly, continual investment in technology is a key factor, which
Nick Giddings CEO POWERPLACE
PowerPlace will of course continue to do. As price remains an important element for both insurers, brokers and end consumers, it’s important that technology continues to evolve to give our brokers the flexibility and choice to best serve the varying type of SMEs and their differing requirements. Secondly, the development in the range of additional and specialised products by insurers is also key for the SME market. SMEs themselves have very diverse risk profiles, so the number of product enhancements on current products, and also the
Lastly, with more online purchasing happening, and the number of informed buyers increasing (in particular the micro-SMEs and sole traders), it’s important that brokers have the required tools to adopt a multi-distribution approach. A mix of face-to-face, telephone and online is a solid strategy, allowing brokers to maintain their SME market share, retain existing customers and also reach out to new markets and customers across the UK. Throughout the course of 2014, PowerPlace has seen more brokers adopt this approach and equip their businesses with our eBroker solution. Over 600,000 quotes went through PowerPlace’s eBroker quote-and-buy solutions with current volumes showing that the demand to purchase commercial cover online is on the rise further in 2015 and beyond.
No.1 in the handling and disposing of motor vehicles The handling and disposing of motor vehicle salvage is a constant drain on financial and administrative resources. HBC reduce this by providing an unrivalled service. We are prompt, efficient and fully in accordance with current industry guidelines and environmental legislation. We also require only minimum administration to collect and dispose of your vehicle salvage. With continued investment and systems development we are able to set the standards that others struggle to achieve. We are the safest hands in salvage. HBC Vehicle Services, HBC House, Charfleets Road, Canvey Island, Essex SS8 0PQ
www.hbc.co.uk 01268 696444 Fax: 01268 510087 Email: info@hbc.co.uk BRITISH VEHICLE SALVAGE FEDERATION
FEBRUARY 2015 insurancepeople 13
direct business
Dean Lamble MD SunLife
There’s nothing new in going direct to the consumer, but there are still many lessons to be learned. Insurance People asked Dean Lamble to explain the thinking behind this issue when SunLife tackled its recent rebrand outlined in our previous issue
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…customer, customer, customer...
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Five principles for success The recurring theme from our research is simplicity. People want straightforward products they can understand, which are easy to
obtain, and which don’t bombard them with jargon. In other words, an experience that ‘does what it says on the tin’.
SunLife’s five key principles for direct-to-consumer success 1. Direct-to-consumer needs total commitment. Many financial services companies treat direct as ‘just another channel’ – along with all their other business.
he financial services market is changing. The removal of compulsory annuities, scrapping of death tax, auto enrolment into company pensions and a larger-thanever savings and life insurance gap are increasing the demand for financial services.
But direct requires real focus – and the most important starting point is to acknowledge this to ensure the effort, investment and capabilities reflects the ambition. The ethos must be customer, customer, customer.
But although demand is increasing, engagement is at an all-time low. The Retail Distribution Review (RDR) led to a large number of professional advisors leaving the market.
3. Forget products – think propositions. It’s easy to focus on risk pricing or other internally-important metrics, perhaps at the expense of truly understanding the customer need.
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This imbalance, where demand outstrips provision, plus the rapid growth in technology adoption by customers means there has never been a greater need (and opportunity) for affordable, straightforward financial services products designed for everyday people. Traditional insurers and mutuals are also attempting to engage everyday customers with direct propositions, but these operations can play second fiddle to the rest of their business, and may not have the customer insight or product and buying experience to successfully engage directly with customers. And many financial services products are designed for a small segment of our country – a segment of high incomes / wealth and (often) professional advice. 14 insurancepeople FEBRUARY 2015
2. Direct is a true ‘learning’ business. Innovation and learning from experience isn’t new, but having the tools to closely track consumer needs, behaviour and engagement on an ongoing basis, and evolve accordingly, really pays off. Test. Learn. Adapt. And test some more.
Direct requires specifically-designed propositions with simpler application journeys, clear choices, guidance, the option to switch channel and instantaneous decisions. 4. Customer insight and data are key. Everyone talks about ‘big data’. But it’s the analysis and application which are really important. From a direct-toconsumer perspective, data intelligence is king as it allows you to price, design, target and measure everything more effectively. For instance, what’s the value of a home insurance renewal date… versus someone’s propensity to index higher than the next customer in the number of risk products held… versus the effectiveness of your advertising spend in a given publication on a given day of the week? Over 5,000 variables can be used to work out the propensity of customers to require a certain product. And it’s not just customer behaviour – we track 1,500 marketing campaigns a year to understand the most effective ways of engaging our customers. 5. Customer, technology, financial services – in that order. To excel at engaging customers and running a direct marketing business you need to be customer led. First think of yourselves as a customer company, obsessed with their needs and how to engage them. Second, a technology company – this is the biggest opportunity to our industry and the key ingredient to ‘Direct Marketing 3.0’. Finally, think about the sector you’re in. Customers sometimes don’t buy direct because they have never heard of you. Or they find it too difficult to buy from you. Better marketing and better use of technology can address both those issues. Dean Lamble
Who says insurance is boring?
Part Six
The late Malcolm Forbes-Wilson penned his remarkable insurance biography just before he passed away after a long illness in April 2014. This month Malcolm places the very first one million dollar golf hole-in-one prize – which was holed out! n 1987 I was asked to place a golf hole-in-one cover at the upcoming Bay Hill Classic golf tournament in the States. By this time I had the reputation for broking the unusual, and with the ‘prize’ to be offered at $1m I was up for the challenge. It wasn’t easy. It was the largest amount ever offered up to that time, and most underwriters shied away from what
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they considered was too much of a gamble. But I was able to scrape together the capacity, and confirmed coverage 24 hours before the event began. It was on the Sunday that Don Pooley holed his famous $1m dollar hole-inone at Bay Hill. Needless to say, I was highly embarrassed when reporting
Malcolm Forbes-Wilson the claim when I revisited some of the more reticent underwriters who had helped me to scrape the prize money together. Malcolm Forbes-Wilson (1946-2014) written in January 2014
To be continued Don Pooley: “It was a very unique thing having a one million-dollar hole-in-one at that time. I was playing with Andy North and Donny Hammond, and as we walked up to the 17th tee, we joked – ‘This is our chance to win a million dollars! Ha ha!’ It was an ‘impossible’ shot, 193 yards into a 10mph wind, with the hole cut into a finger of green on the right. I cut this 4-iron and tried to hold it into the wind – it hit the pin about two feet above the hole and went straight in. The 200 or so people behind the hole started screaming* so I knew it had gone in, and I got the shakes as I strode up to the hole.”
* Editor’s note: Had live streaming been around in 1987 it’s highly likely that the underwriters back home would have been screaming too!
Next month: Malcolm ‘invents’ purchase protection insurance with American Express
We believe in nothing less than first class service. We’re here to provide the best possible insurance for your clients. Our specialist knowledge built up over many years in the not-for-profit sector means that we are in a great position to understand exactly what cover your clients need. We can give you a truly personal service – one that you can rely on for fast, efficient underwriting decisions and claims management. So you can be sure we will deliver nothing less than the outstanding products you deserve.
www.ansvar.co.uk Tel: 0845 60 20 999 or 01323 737541 ansvar.insurance@ansvar.co.uk Business division of: Ecclesiastical Insurance Office plc. Registered Office: Beaufort House, Brunswick Road, Gloucester GL1 1JZ. Registered No. 24869 England. All content © Ecclesiastical Insurance Office plc 2015 Member of: Association of British Insurers, Financial Ombudsman Service. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
FEBRUARY 2015 insurancepeople 15
Did this sender forget to post?
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he Indianapolis insurance office depicted in this American postcard in the Reg Brown collection seems straightforward enough, and the sender Horace G. (?) appears to have added a helpful “me” to identify himself. Written in Richmond, Indianapolis on 15 July 1908 it reads:“Dear Cousin, many happy returns of the day from your cousin.” But it’s the search for clues to get inside the many enigmatic aspects of these old postcards and the unknown insurance people they depict that becomes addictive. There’s more time spent with the magnifying glass and web research than there is in the writing up. And so it is with this card, with attention fastening onto the calendar on the wall – May 16, Wednesday. But what year? The author helpfully adds “Taken 1907” on the reverse of the card, but 16 May that year didn’t fall on a Wednesday – it must have been 1906 when the photo was taken.
Admittedly this dating query may not matter very much, but the means to check this fell into place easily enough thanks to the coincidental examination of another item in the Reg Brown collection (not illustrated here). Not a postcard as such, but an information card relating to collectible items for insurance purposes issued by Stamp Insurance Services in Exeter. A useful table solves the “What day of the week was it?” for every date from 1801. There’s also two anomalies in the address. Mullica Hill is misspelled as ‘Millica’ – the correct name coming from the original property owner who developed the area in the early 1700s. The diminution of Gloucester to ‘Gloster’ is a habit also familiar in England at that time. The final unknown is that, having written the card, did Horace G ever get around to posting it? There’s no stamp. Editor’s note: Reg Brown adds that it was not unusual for postcards to be sent in an envelope. In the early days of postcards there was still some reluctance to let the postman and all and sundry read the message!
“Own a Piece of the Shaft”
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his American spoof postcard (below) from the Reg Brown collection adds a touch of humour while endorsing the timeless perceptions about insurer ‘small print’. The policyholder scrutinises his policy while sitting in the rubble of his home in the aftermath of the 1906 San Francisco earthquake. Under the above heading the caption on the reverse reads, “Quenton discovered the policy’s Perils of Nature Clause excluded everything but a direct hit from Halley’s Comet.” This card in fact appeared in 1989, and may be topical with the Loma Prieta earthquake of that year in San Francisco.
Little Black Mutual
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his American postcard from the Reg Brown collection reveals Frank Strick (a founder of Medford, Wisconsinbased Little Black Mutual Insurance and its agent from 1897-1915) showing off his state-of-the-art mode of transportation. This mutual was organised by local farming property owners in 1889 and still exists today now writing business in 17 counties in north central Wisconsin with a 44-strong agency panel.
16 insurancepeople FEBRUARY 2015
pets
The dark side of ‘designer’ dogs
John Gibson considers the hazards of high volume canine cross-breeding he popularity of designer dog breeds has increased considerably during the last decade, with many consumers being influenced by fashion, social media, and the misconception that they will be healthier pets.
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Celebrity owners such as Miley Cyrus and Sylvester Stallone have helped to stimulate this trend by documenting their pets’ lives on sites like Instagram. We’ve seen a particular surge in demand for smaller designer breeds such as Maltipoo’s (Maltese and Poodle cross), Pomchi’s (Pomeranian and Chihuahua), and Yorkipoo’s (Yorkshire Terrier and Toy Poodle) to name a few. The downside of this is the number of unscrupulous puppy farmers whose interests are focused on profit rather than animal welfare. Such breeders are cutting corners with health
checks to achieve higher profit margins as these breeds are often considerably more expensive than pedigree dogs. The unhealthy focus on high volume breeding can, sadly, result in new owners learning the hard way, spending significant amounts on veterinary treatment or, in more extreme cases, seeing their new cherished puppy pass away prematurely. Labradoodles, one of the best known and long established designer breeds (cross between a Labrador Retriever and a Poodle), were first bred back in the 1980s. The belief at that time was that crossing the two pedigrees would result in a better genetic makeup. We know now that, rather than breeding out congenital defects, some Labradoodles end up with defects
MARKET-LEADING PRODUCTS T , AT THE TOUC CH C OF A BUT TON N
John Gibson HEAD OF PET MARKERSTUDY GROUP
inherent from both lines, such as hip problems from the Labrador and eyesight problems from the Poodle. The crossing of two breeds with completely different characteristics can also result in mental health problems for the dog. The potential implications for the industry are significant. Firstly, in predicting the long-term consequences of designer cross breeds in terms of health. Secondly, in possibly offering incentives for owners to buy responsibly. A preferable alternative would be to encourage owners to consider adopting from a rescue centre such as the Dogs Trust who have an abundance of healthy, adorable dogs looking for a new home.
PowerPlace is the online marketplace,, which prrovides access to a range of market-leading SME products at the touch of a button. Ensuring your business is digitally read dy,, PowerPlace offfe ers choice, competitively-priced quotes and real-time effficiencies to yo our SME baasse. Taal a k to us about our quote-and-buy faacility a fo or SME consumers, eBroker fo or or Pow werPlace, an nd d see fo or yourself the benefits our e-tr e ading pllaatfo orm can bring to your business.
www.powerp place.co.uk
FEBRUARY 2015 insurancepeople 17
customer service
Investing in your People Duncan Pritchard explains how a happy staff can produce happy customers opportunity on a regular basis to discuss any issues and worries with their manager? Is there a clear career progression path for them? Do they know what they are working towards? And do they fully understand what is expected of them?
Duncan Pritchard MANAGING DIRECTOR COMMERCIAL EXPRESS
any businesses make the mistake of focusing solely on profit margins, budgets and projections while leaving the people within the company totally overlooked.
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This can be a fatal error. If staff are happy, motivated, well-trained and feel valued they will work hard to help the company succeed. There are other ways of looking after people other than simply financially. For example, do they have the
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Are staff encouraged to take part in training sessions? Is a training plan in place for all employees? Investing in training will only benefit the business in the long term as the level of expertise and quality of service improves. Are staff encouraged to work together, and are social events and out-of-work activities organised? For example, team building days encourage staff to work well together. And what about the environment that they work in? Maybe that can be improved. Is the office kept tidy and organised? Would staff appreciate a
upa UK has launched a new TV advertising campaign to showcase its healthcare expertise and range of services. The campaign launched on January 12 with two 30-second advertisements focusing on its cancer survivorship programme and elderly care support line. Saj Arshad, marketing, sales and strategy director, Bupa UK, says, “Our new campaign highlights that Bupa has the healthcare expertise to go above and beyond just paying the bill. We have a range of healthcare services and can provide advice, guidance and emotional support to help people make more informed decisions. “With people’s expectations of healthcare providers changing, it is essential that they understand the breadth of our offering. The services highlighted in these advertisements are just two examples of how we support our customers with their wider healthcare needs.” 18 insurancepeople FEBRUARY 2015
Finally, are efforts made to ‘catch people doing good’? And are these efforts applauded and recognised? We can all be guilty of only mentioning things when they go wrong, or commenting on a bad experience, but positive feedback to staff is just as important. Much good can be achieved from emailed congratulatory awards, say to a whole team, or the company. Larger companies can introduce an Employee of the Month award, voted for by the staff. Putting some effort into really getting to know and understand your people and ensuring they are happy and feel important will ensure they put the effort into their work and this will in turn improve a company’s performance as a whole.
News
New ad campaign from Bupa
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coffee machine in the kitchen, or a microwave for hot lunches in the winter?
New legal helpline for BIBA members IBA has appointed Abbey Legal Protection to provide a free legal advice line for members which is managed by qualified solicitors and barristers. Members now have unlimited access to legal advice, which includes specialist tax, health & safety and debt recovery advice. The legal advice line is serviced 365 days a year, 24 hours a day. In addition members will receive preferential rates for access to fixed fee legal services, optional legal expenses insurance and a product designed to help members reclaim capital allowances from HMRC.
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marketing
Always put a kilt on it…
Elizabeth Holt believes PR is fine, but much depends on what’s said, and when, where, and why you say it t would probably be fair to say that there is almost universal acceptance across the insurance and financial services industries of the importance of clear communications to the many and varied audiences involved.
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On the face of it, effective corporate communications and media relations should be very straightforward. You identify your news, message, announcement, or comment and then tell people about it. Easy. The challenge of course lies in the various ways, style, and timings employed for announcing what may be a broadly similar story to wide and disparate audiences - all of which will have differing agendas and areas of interest. The insurance industry provides a very good example of how a single
‘news event’ will need treating with knowledge, insight, and even flair if it is to have the maximum impact. A new life insurance product could be of interest to actuaries, industry commentators, politicians, brokers, analysts, accountants, solicitors, personal finance media, life-style correspondents…well, you get the point. In essence, you never have just one story, you have several with a common theme that unites them. The financial trade press and broadcast story will receive very different treatment to the stories for the consumer personal finance media – yet the core is the same. It’s always worth giving any story a quick sanity check. You also have the opportunity to be self-critical –
Chase Templeton acquires Best Health hase Templeton has confirmed its purchase of the Bristolbased intermediary, Best Health Business, bringing a further £1.35m in annual premium income to Chase Templeton, over two-thirds of which is generated by SME clients. Best Health was founded in 2001 by Debbie Kleiner-Gaines, who spent three years as treasurer of The Association of Medical Insurers & Intermediaries. Having sold the company, she is taking on a new role within the wider
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regulated and non-regulated employee benefits field. She comments, “Having previously undergone a particularly smooth transaction when selling Best Health’s individual client book to Chase Templeton a couple of years ago, the company was a natural choice.” Jeff Tate, Chase Templeton’s mergers & acquisitions director, says, “This is but the first of a number of acquisitions we expect to confirm in 2015 as we already have a healthy pipeline of potential targets lined up.”
Elizabeth Holt HOLT PUBLIC RELATIONS
even if it was an idea you and your colleagues had together. Step back and be objective, possibly even critical. Why is it of interest – what does it mean for the various readerships and audiences? What’s new or different? Why now? What is the relevance? Why does it matter? So finally… relevance of message is key. You may have something of interest for the whole of the UK, but when you are considering the impact and appeal of your story north of the border, then you should always look at putting a kilt on it.
Martin Hudson resigns from MSIG SIG at Lloyd’s has confirmed that director of underwriting Martin Hudson has resigned from the company. The company says, “Martin has played a pivotal role in helping MSIG to achieve sustainable profitable growth and setting the business on a firm footing for the future. His responsibilities, for the foreseeable future, will be assumed by the underwriting and senior teams.”
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FEBRUARY 2015 insurancepeople 19
insurancepeople
News
Damian Keeling chairman of Principal amian Keeling has joined Sale-based Principal Insurance as chairman. Mr Keeling brings extensive experience to the role. As managing director of Carole Nash between 1996 and 2005 he steered the Altrincham broker through a period of growth before departing and acquiring Cumbria-based performance car insurance specialist Peart Insurance Brokers. In 2008 he sold Peart to Central Insurance and joined Perspective Financial Group in Wilmslow where he spent
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Damian Keeling
six years as managing director, building the company up to become one of the UK’s top 15 financial advisory groups. In 2009 he also became a non-executive director of Chase Templeton, and is a director and part-owner of
Unity call from CII president n his new year message to members, the CII president, Ashwin Mistry, has called for the insurance profession to unify to resolve the challenges to come this year. He highlights that attracting new talent into the sector will continue to be an important issue for 2015. Following the results of the latest CII survey, employers in the insurance sector are becoming increasingly more aware of apprenticeships, and more than four times more likely to take one on. Yet top graduates are still not turning to insurance as their career of choice. Ashwin Mistry says, "One of the aspects of the ‘One Voice’ message that we will continue to press home in 2015 is best summed up as ‘united we stand, divided we fall’. It is encouraging to see that the profession is coming together to attract new talent and embracing apprentices. "I’ve said many times we belong to a fantastic industry but one that consistently undersells itself. And now there is growing recognition that we must travel the same path, sing from the same hymn sheet. It is only by uniting that we can begin to promote insurance as the major economic powerhouse it is and feed the stream of new talent."
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Servian Services, a Burybased medico-legal business. Mr Keeling says of Principal, “The business has reached a critical mass which means it requires both additional expertise and financial resource to maintain impressive momentum which has seen premium income rise threefold in just three years. The management team and I will this year be implementing an investment programme, which will in particular benefit our marketing and IT functions, with the aim
of securing further growth of between 50 to 80 percent this year.” Founded in 2011 by former Carole Nash operations director Dave Bowcock, Principal generates over £3.3m in annual premium income (to year end 31st October 2014) through policies serving the motorcycle, scooter, van, trade and classic and modified car markets. The company currently employs 17 staff at its Dalton House headquarters on Dane Road, Sale and is set to recruit further in 2015.
Taylor acquiring Scottish Widows International harles Taylor has agreed to acquire Scottish Widows International Limited from Scottish Widows plc. SWIL is a Jersey closedbook life insurer which provides unit-linked life insurance policies and portfolio bonds to individual investors. This is Charles Taylor’s fourth acquisition of an international life insurer in the last four years, confirming the group’s strategy to grow its life business by making further acquisitions in the international life sector. It is intended that SWIL will be re-domiciled from Jersey to the Isle of Man following the acquisition and that its policies will subsequently be transferred
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into Charles Taylor’s wholly owned Isle of Man life insurance subsidiary LCL International Life Assurance Company Limited, subject to regulatory and court approvals respectively. Jeffrey More, chief executive officer, Charles Taylor Insurance Services (IoM), says, “Charles Taylor has administered SWIL’s policies for the last eight years. This means that policyholders will experience a seamless change of ownership and will continue to enjoy the same excellent levels of service. By merging the business into Charles Taylor’s life insurer, we will be able to deliver further efficiencies without compromising service.”
New Bollington deal with European tour golfer ollington Insurance has renewed its partnership with 23-year-old Marlow golfer Tyrrell Hatton for the 2015 European Tour season. His first season on the European Tour in 2014 was exceptional, culminating in a seasonending 6th place at the World Tour Championships in Dubai and a final position of 36th on the elite tour. He recorded top-ten finishes at the seasonopening Abu Dhabi Golf Championship (tied 10th place), the Johannesburg Open (tied 2nd), the Scottish Open (tied 4th) and the European Masters (tied 3rd),
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Tyrrell Hatton
all of which contributed to his qualification in the top 60 for a place in Dubai. Moving from 376th in the world golf rankings in 2013, he now sits just outside the top 100.
H&R migrates to CDL Strata &R Insurance, CDL's longest standing customer, is to migrate its insurance portfolio to the CDL Strata software platform. Based in Aberdeen, Scotland and established in 1972, H&R (formerly Hanson & Robertson Insurance) is a family business, headed by Shona Robertson, and specialises in motorbike, motor vehicle and home insurance policies. It has been operating on the CDL Classic platform since 1981. The Strata migration will give H&R customers access to self-service facilities and electronic documentation online, through CDL's web and mobile portals. H&R employees will also receive an upgraded contact centre system. Shona Robertson, partner at H&R Insurance, says, "Moving to Strata is the first step towards a phased joint development project spanning the next three years. Strata will enable us to vastly reduce our overheads across the whole business. I am excited to be involved in shaping the future development of Strata, just as my father Hugh Robertson helped to shape the development of Classic some 33 years ago."
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Car insurance rates down in 2014 he latest Confused.com Car Insurance Price Index, in association with Towers Watson, shows that the average cost of a new comprehensive motor insurance policy in the UK fell by £51 in 2014 to £594, in spite of late-year increases. New comprehensive premiums rose by an average of 2%, or £12, in the fourth quarter of 2014, but fell by 7.9% over the year as a whole. This follows annual decreases of 12.5% and 12.7% in 2013 and 2012 respectively. Third party, fire and theft rates followed a
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similar pattern in 2014 with a 0.9% increase in the final quarter having only a small impact on an overall decrease of 8.3% in the year. The average new TPFT premium now stands at £966. Stephen Jones, UK head of P&C pricing at Towers Watson, says, “The figures for the final quarter of 2014 have reinforced the increasing trend in pricing that emerged at the end of the last quarter, indicating that most insurers are moving to shore up their profitability. But it will have come too late
to have much effect on 2014 underwriting performance.” He adds, “In 2013, reserve releases of nearly 10% helped UK motor insurers return their first underwriting profit since 1999. Given that claims submitted through The
Claims Portal have started to creep up again in 2014, after the initial drop caused by the 2013 legal reforms, it will be interesting to see how much gas may be left in the reserving tank to sustain underwriting profitability.”
FEBRUARY 2015 insurancepeople 21
insurancepeople
News
Max Carruthers joins Absolute as chairman
Max Carruthers
bsolute Partnership has announced that Max Carruthers is joining its board with immediate effect as non-executive chairman. He was most recently chief operating officer of AXA Commercial Lines & Personal Intermediary following six years as Towergate Partnership’s group operations director and chairman of Open GI. He currently runs his own consultancy business as well as being
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a non-executive director of a number of financial services/software businesses. Max Carruthers comments, “The reasons for joining Absolute are simple: I am really impressed with the people, I like the business, the standards they work to and their partnership approach. One of my key technical interests is the application of high volume data analysis and I think there are great opportunities for Absolute to enhance their already powerful data screening capabilities and lead the development of ever more sophisticated fraud detection and fraud prevention techniques. Ally this to the incredible investigative experience in the business, it creates something really special and very exciting”.
Dubai approval for Markel arkel International has been granted regulatory approval by the Dubai Financial Services Authority to operate within the Dubai International Financial Centre (DIFC). Markel is based within the DIFC and will relocate to the Lloyd’s office when it is launched in March 2015. The Markel trade credit operation in Dubai specialises in writing business from around the region and offers comprehensive nonpayment credit and contract frustration
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LMA welcomes US terrorism move T
he Lloyd’s Market Association (LMA) has welcomed the news that the US Terrorism Risk Insurance Act (TRIA) is to be renewed, putting an end to the period of uncertainty that has prevailed over the holiday period. TRIA was initially allowed to ‘lapse’ at 12.00 midnight on 31 December
22 insurancepeople FEBRUARY 2015
2014 after the US Senate failed to authorise the Bill in December prior to its holiday recess. The House of Representatives in the US approved a Bill on January 7 that will extend TRIA for a further period of six years to expire on December 31, 2020. The Senate voted on and passed the Bill on January
8 and now that it has passed both chambers it will be sent to the US President, who is expected to sign the legislation into law. David Gittings, CEO of the LMA, says, “Anticipating that the Bill will quickly be signed into law by the US President, it now enables us to focus on the immediate
covers, including comprehensive excessof-loss multi-obligor and ground-up specific obligor policies, with emphasis on delivering specialist solutions including trade finance products and sovereign default/contract frustration solutions. Opportunities in other business lines will be reviewed in due course. In August 2014, Markel appointed Leroy Almeida to head its office in Dubai as senior underwriter and head of trade credit, Middle East.
job in hand, which is to finalise our model (LMA) policy language, to ensure it is compliant with the requirements of the reauthorised TRIA program, and to produce practical guidance for our membership, working in close conjunction with Lloyd’s and their legal counsel.”
Nexus expands underwriting capacity S pecialty MGA, the Nexus Underwriting Management Group, has secured significant increases in underwriting capacity, managed premium, product diversity and number of underwriting partners for 2015. Underwriting capacity spread across its core
specialty lines has increased to £109m, up from £103m in 2014, and the group estimates that its GWP managed for its underwriting partners will rise to £68m. The group also now has increased product diversity through the five core specialty lines of business that it
underwrites as well as an increased number of underwriting partners who support them. Colin Thompson, CEO of Nexus Underwriting Management Group, says, “It is great news that we have again secured from our existing and new Lloyd’s and company market
underwriting partners more capacity and greater product diversity to support our 2015 growth plans across our five core lines of business. Confidence in our continued successful track record has also resulted in some of our underwriting agreements being oversubscribed."
Carole Nash CEO short-listed for award avid Newman, CEO of Carole Nash, has been unveiled as one of the three finalists in this year's 'North West Director of the Year Awards'. The awards aim to celebrate the best the North West business community has to offer and raise awareness of the significant contribution the region's leaders make to society and to economic prosperity.
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"To be nominated alone is a real honour in itself but going on to be handpicked as a finalist of this exclusive accolade is most certainly one of my career highlights to date." said Mr Newman. "Everybody who knows me will tell you that I'm a firm believer in the incredible power of teamwork, and being shortlisted for such a prestigious award is
testament to the dedication of the whole Carole Nash team who work tirelessly to provide our customers with the highest level of service. "I'm also extremely proud to be the only insurance specialist within the category and to be recognised as a 'large company', which is a huge feat and brings to light the important work we're doing within the North West and
financial sector, plus how much it is valued by members of our community." The awards ceremony will be held at The Midland Hotel in Manchester on Wednesday 25 February 2015. Should Mr Newman win the award, he will automatically go forward for inclusion in the IoD National Awards held in London later this year.
Open GI beats charity target pen GI has raised over £19,000 for its corporate charity of the year, Libby Mae's Little Angels. Each year, Open GI pledge to support a worthy cause and at the start of 2014, Libby Mae’s Little Angels was nominated. An initial target of £7,500 was set; however, through a continuous stream of events, including a summer fete, charity car wash, sporting events, dress down days and cake sales, the company has raised £19,432. Chris Guillaume, group CEO comments, “We’re delighted to have raised such vital funds for Libby Mae’s Little Angels and hope our contribution will continue to allow them to provide key resources and support to neonatal units throughout the Midlands. I would like to thank each and every staff member involved who worked tirelessly to continue to raise money for this chosen charity throughout 2014.”
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Pictured: Chris Guillaume (right) presents the cheque to Richard and Charlotte Sharrott (Libby Mae's parents) of Libby Mae's Little Angels.
FEBRUARY 2015 insurancepeople 23
insurancepeople
News
International conflict tops list of global risks T he biggest threat to the stability of the world in the next 10 years comes from the risk of international conflict, according to the 10th edition of the Global Risks report, published by the World Economic Forum on January 15. The report, which every year features an assessment by experts on the top global risks in terms of likelihood and potential impact over the coming 10 years, finds interstate conflict with regional consequences as the number one global risk in terms of likelihood, and the fourth most serious risk in terms of impact. In terms of likelihood, as a risk it exceeds extreme weather events (2), failure of national governance systems (3), state collapse or crisis (4) and high structural unemployment or underemployment (5). In looking at global risks in terms of their potential impact, the nearly 900 experts that took part in the Global Risk Perception Survey rated water crises as the greatest risk facing the world. Other top risks alongside that and
interstate conflict in terms of impact are: rapid and massive spread of infectious diseases (2), weapons of mass destruction (3) and failure of climate change adaptation (5).
British SMEs “thriving”, says LV= Broker ew research by LV= Broker reveals that three quarters (75%) of British SMEs improved or maintained their turnover in the past year. Four in ten (41%) have seen their turnover increase in the past 12 months, while a further 34% say turnover remained steady at 2013 levels. In
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addition, a new generation of SME owners has entered the market as 180,000 people started running their own business in the past twelve months. However, the research also reveals that 80,000 SMEs who employ staff have no EL cover in place. Mike Crane, commercial
lines director at LV= Broker, comments, “SMEs are the lifeblood of the British economy and it is great to see that so many have increased their turnover in the past year and taken on more staff. The research shows that thousands are leaving themselves vulnerable to prosecutions
and fines by the HSE for not having appropriate insurance in place. Getting the right advice on cover from a specialist insurance broker is invaluable for business owners and can make the difference between being able continue trading or not should the worst happen.”
Two new deals for PowerPlace owerPlace and Open GI, have announced new three-year deals with both Business Choice Direct Insurance Services (Eldon Insurance Group) and Grove and Dean to support their online SME offering. Both brokers will be equipped with eBroker for PowerPlace technology for
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Tradesman and Property Owners lines. Later this month, they will have further functionality with access to product lines for Guest Houses & Hotels, Office & Surgeries, Pubs & Restaurants and Shop. Nick Giddings, PowerPlace CEO, says, “It is now widely accepted that a
large proportion of the consumers of micro-SME insurance look online in the first instance, and in fact, we have recently seen a number of insurers working directly within the microSME space. This demand will only continue to increase, which means that an ‘esolution’ is critical for
brokers to allow them to interact with their SME customers during the purchasing process. eBroker is a great solution that meets this need and provides brokers with the tools to serve their customers and win business in this competitive marketplace.”
Fraudster receives six-month suspended sentence construction worker who attempted to a claim approximately £200,000 from AXA in a personal injury scam has pleaded guilty to contempt of court and received a six month jail term, suspended for two years. Paul Havert had suffered a work-related wrist injury and submitted a claim for approximately £200,000 against his employer, a customer of AXA
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Commercial Lines and Personal Intermediary, arguing that his injuries would prevent him from returning to his trade as a bricklayer. On the grounds that he had suffered a genuine injury and in light of submissions that Havert’s family were suffering financial hardship and were in arrears with their mortgage payments, AXA made prompt interim payments of £30,000.
BIBA Young Broker Steering Group
James Nattrass
IBA has launched a Young Broker Steering Group with the aim of providing guidance and resources to younger brokers to help them develop into the leaders of tomorrow. The group, chaired by James Nattrass, account broker at Bluefin, will put in place a strategy for younger broker engagement within the trade association. One of the steering group’s first projects has
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been to develop a young broker day at the 2015 BIBA conference. The group will also be developing a regional ambassador role to establish long-term involvement from younger brokers, along with identifying how BIBA can connect, engage and support young professionals in the insurance industry. Members of the Young Broker Steering Group include: James Nattrass, Bluefin Group (chairman); Louise Jones, Thomas Carroll; Lois Williams, AJG; Joshua Cryer, AJG; Alexandra Witham, Everard Insurance; Daniel Kinlan, Aon; Alex Guerin, Marsh; Veronica Bell, Bruce Stevenson; Alice Hodgson, Marsh; and Max Thompson, Be Wiser.
However, at the civil trial, District Judge Stapely, sitting at Middlesbrough County Court, awarded damages of only £40,661 and ordered the outstanding settlement amount of nearly £10,000 to be paid to the court pending an Inland Revenue investigation. Havert’s costs were also reduced by 50%, the penalty falling on his solicitors and counsel. AXA subsequently brought contempt of court
proceedings against Havert for lying under oath about his past and current financial conditions as he sought to secure an inflated, fraudulent settlement. Prior to the contempt trial on 13 January Havert admitted contempt (five minutes prior to commencement of the hearing) for failing to disclose earnings from other employment in the original civil trial.
In-car security device launched by Zenith device named ‘fred’, aimed at safeguarding drivers, has been launched by Zenith Insurance for the personal lines market and is being introduced through high risk specialist, The Insurance Factory. Devised and developed by Zenith, ‘fred’, which stands for ‘first reporting emergency device’, is fitted by the driver to the inside of the car windscreen. In the event of an accident, it triggers automatic contact with a speciallytrained team, who can talk to the driver, assess the situation and, if required, put them through to the emergency services. For more minor incidents, drivers can press the assistance button to connect to an adviser. If used to report an incident or accident at the scene, 'fred' insurance offers a zero excess, regardless of
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fault. Unlike telematics policies, fred does not monitor driving styles or behaviour and insurance premiums are a set price. The device is also offered through Autonet and Wilsons for commercial vans and is live on CDL and OGI software platforms. Gary Humphreys, group underwriting director for Zenith Insurance, says, “We know that for a lot of people on the road, safety is a key concern and this offering through Zenith provides practical help for drivers, should they need it. ‘fred’ insurance policies are competitively priced and with the added benefit of zero excess, will also appeal to those looking for value for money. We’re delighted to be able to launch this through The Insurance Factory and make this offering available to our intermediary partners.” FEBRUARY 2015 insurancepeople 25
insurancepeople
News
Be Wiser to sponsor Hampshire golf championship e Wiser Insurance will be the new headline sponsor for the PGA in Hampshire Stroke Play Championship in a bid to support up and coming golfing talent. The tournament, which will be sponsored by the Andover based insurance broker for the next two years, will now be known as The Be Wiser Insurance PGA in Hampshire Stroke-Play Championship and will be held at the Army Golf Club in Aldershot on June 17th 2015. Andrew Dunkerley, Be Wiser’s marketing director says, “Our sponsorship of the The PGA in Hampshire Stroke-Play Championship is another example of our commitment to nurturing
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Andrew Dunkerley
talent, be it training our staff at our Be Wiser Academy, or bringing on young talent as we do with our British Superbike sponsorship.” The championship is open to any Hampshire professional golfer from trainees to senior professionals who are members of the County Association.
Ageas completes sale of Ageas Protect geas has completed the sale of its 100% shareholding in Ageas Protect Limited (its UK Life Protection company) to AIG for a total consideration of £197 million.1 The transaction, which was first announced on 6 August 2014, has been approved by the regulator. Ageas Protect was launched in the UK in July 2008 and now has over a 5% market share in the UK protection market. Ageas UK CEO, Andy Watson, says, “The Ageas Protect team have achieved an enormous amount since start up six years ago. The business is now an established presence in the UK protection market with a strong reputation for innovative products, cutting edge technology and great customer service. As we continue to focus on our Non-Life business where we have considerable scale and hold significant market positions, we wish the Protect business well for the future, confident that their employees are going to a good home.”
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Cinven to acquire Premium Credit uropean private equity firm Cinven has announced that it has reached an agreement to acquire Premium Credit Limited for an enterprise value of £462 million. In 2013, Premium Credit achieved gross advances of £3.7 billion, processing 25.8 million transactions. It has approximately 2 million customers and works with 4,000 intermediaries. The management team will continue to be led by Andrew Doman, chief executive, who joined the business in November 2012. Premium Credit, established in 1988 and headquartered in Epsom, employs over 300 people. Maxim Crewe, partner at Cinven, comments, “Premium Credit is the market leader within the UK insurance premium finance market with strong risk management, cash generative characteristics and a proven management team. The company provides us with an exciting platform from which to capitalise on growth opportunities in the broader UK specialty finance market through the expansion of the company’s existing product portfolio, new product launches and selective acquisition opportunities.” Andrew Doman adds, “Premium Credit has delivered strong performance since the carve-out from Bank of America. We have consistently achieved high levels of customer service and built on our good reputation for product expertise amongst intermediaries. “We are delighted to be working with Cinven who, given their strong track record and expertise in the UK financial services sector, will be instrumental in helping to expand the Premium Credit platform providing our clients with new products and services.”
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Company market to stabilise in 2015, says Fitch itch Ratings says, in its 2015 Outlook for UK non-life insurance, that it expects the company market to stabilise in 2015, largely due to an expected halt in the fall in motor premiums and an improved performance in commercial lines. This is partly offset by pressures on the personal household market and low investment yields. The rating outlook remains stable, underpinned
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by the company market's strong capital adequacy. Fitch further believes that the motor insurance industry will be able to demonstrate tangible benefits from innovation supported by the increased use of telematics and big data. The company expects these new tools to improve the profitability of motor by addressing longstanding industry issues including increased claims' costs and fraud.
On the move Who’s going where?
Jacqueline Hall-Shaw
Travelers Travelers appoint Jacqueline Hall-Shaw as product manager for its financial institutions team. Joining from AXIS Specialty Europe, where
she was vice president – financial institutions, she has 13 years’ experience and began her career as an internal auditor with SVB Syndicates in 2001. Promoted by SVB to assistant underwriter for FI in 2002, she moved to Liberty Mutual Insurance Europe in 2003 to underwrite its FI book and became its asset manager practice leader. In 2007, she joined Brit as an FI underwriter before moving to AXIS Specialty Europe in 2009.
RSA RSA Insurance Group appoint Enrico Cucchiani as a non-executive director. He will also join both the risk and remuneration committees. He has over 35 years global executive and non-executive experience across financial services including banking, insurance, and blue chip brands. He spent over 15 years at Allianz in a variety of international roles, including head of global P&C and head of Europe and South America.
Pioneer Pioneer Underwriters appoint Richard Coello as head of financial institutions. He was previously assistant general manager of professional risks at Travelers and previously worked at ACE.
Rural Insurance
Enrico Cucchiani
Rural Insurance appoint Peter Cooper as chief operating officer. He previously worked as head of operations for Brightside Group and latterly as operations director of Arthur J Gallagher.
VEHICLE SERVICES Collection, storage and sales
ArgoGlobal ArgoGlobal appoints Nick Lawrence as general liability class underwriter. He joins from Catlin where he was most recently a class underwriter.
Nick Lawrence
Brokerslink
Staveley Head
Brokerslink appoints Corey Gooch as its first director of business development. He was previously an account director at Towers Watson with responsibility for global clients and partnerships. He began his career at Marsh and has also held positions at Aon.
North Wales based insurance broker Staveley Head appoints Lisa Bainbridge as strategic partnerships manager. She previously worked for Arthur J Gallagher and Guardian Insurance. Susan Rowland, previously with Bollington Insurance and RSA, joins as compliance manager.
BMS Richard Coello
In association with
BMS Group appoint John Hastings-Bass as non-executive chairman. The former Gallagher chairman of International Development and JLT Group director will also chair the BMS Risk and Compliance committee. His career began in Hong Kong with Jardine Matheson in 1976, later moving to London where he was PLC director, business development of Jardine Insurance Brokers. In 1997 he became group board director, CEO International Business Group. He joined Arthur J. Gallagher in 2007 as chairman, international
development, leading the Asia Pacific business. He became MD, underwriting & development in 2013 before stepping down in early 2015. He remains non-executive chairman of Novae Group. He succeeds Christopher Hopton who remains chairman of Minova Insurance Holdings.
John Hastings-Bass
FEBRUARY 2015 insurancepeople 27
On the move Who’s going where? Cardif Pinnacle
Fiona Sperry
Cardif Pinnacle appoint Alan Sanderson as chief commercial officer. He joins from A J Gallagher, where he was MD GIS-Partnerships. He was also director of trading at Aviva, where he worked for eight years.
Canopius Canopius Group appoint Fiona Sperry as head of claims. Originally specialising in professional liability claims, she has over 20 years’ experience in high value complex claims and joined Canopius 16 years ago and was most recently deputy head of claims and head of global specialty claims.
Allianz Retail Allianz Retail appoint Gareth Mattison as technical head of corporate partner to manage the motor manufacturers and lifestyle portfolios. Before that he was motor pricing manager for More>Than, and affinity motor pricing manager at RSA.
Phil Evans
Carole Nash Phil Evans, former head of operations at Carole Nash, returns as operations director having spent six years there from 2005 before he was appointed as director of operations at Autonet. He began his career with HBOS in 1996, departing the bank as a project manager in customer service development after nine years to join Carole Nash as head of operations.
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VEHICLE SERVICES Collection, storage and sales
Bishop Skinner Marine Bluefin subsidiary Bishop Skinner Marine appoint Paul Birch as managing director having 25 years experience in commercial marine and yacht. He was previously marketing & business development manager of the yacht division of Amlin. He also spent two years at Devitt Insurance Services managing its small craft account. He joins from Velos
Paul Birch
Insurance Services where he has been an underwriter for the last four years. He takes over from Bill Southgate, who retires after 42 years.
Barbican Barbican Insurance appoint Mark Sutton as an assistant underwriter within the marine division. He joins from Markel International where he was an assistant hull and war underwriter from 2008. He originally joined in 2007 as an underwriting assistant and began his insurance career at NDP/Claims Assistance UK in 2003 as a claims assistant.
Bluefin Bluefin appoint Greg Markham as sales director in its Leeds office. His 20 years’ experience includes time at Henderson Insurance Brokers where he was branch director of the commercial division based in Leeds, and senior positions with Towergate and Aon.
Hastings Perkins
Gareth Mattison
In association with
Perkins Slade appoint Caroline Roscoe as marketing manager. She joined in 2011 as head of digital marketing. Karen Potts is promoted to corporate deputy manager and Stuart Dunn to corporate team leader.
Ed Biemer
Hastings Direct appoint Ed Biemer as managing director, underwriting services. He joins from US insurer Allstate whom he joined in 1999 and undertook a number of senior roles, rising to senior vice president, auto based in Chicago.
by Richard Harry, Best Price Financial Services
Five characters in search of MLP ere in the real world, there are thousands of individuals who, on a daily basis, wish they had bought motor legal protection insurance. But the same can be said to be true of fictional characters in television, books, and movies.
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From time-travellers to fasttrack toads, the staff at online financial services website Best Price Financial Services came up with their favourite fictional characters who would have wished they had purchased that little extra coverage on their cars.
Arthur Weasley (Harry Potter) First up is none other than Arthur Weasley, the dad of child wizard Harry Potter’s best friend Ron. When Harry and Ron stole Mr Weasley’s Ford Anglia to travel to Hogwarts before flying into some trouble, a little motor legal protection wouldn’t have gone amiss. The wrath of the Whomping Willow would have kept it firmly off the road and, more importantly, out of the sky, meaning Mr Weasley would’ve been unable to travel to work (unless he chose to apparate of
course!). Motor legal coverage would have provided him with a replacement vehicle faster than you can say “accio, car!”
Doc Brown (Back to the Future) This list would not be complete without mentioning Doc Brown, the eccentric inventor in Back to the Future. Not unaccustomed to dealing with a few faults himself, Doc Brown would have been dumbfounded if his dazzling Delorean were put off the road, and (spoiler alert!) how would Marty McFly have made sure his parents got together then? Note: Replacement time machines may be quite difficult to source.
that money saved. And who knows, maybe a little tough-talking from a legal professional would have done what neither Ratty, Mole, nor Badger could and set him on the straight and narrow.
Postman Pat (Postman Pat) From our fond childhood memories, comes Postman Pat. The trusty postmaster of Greendale delivered not only the day’s mail but a healthy dose of help to the village’s residents. Generally a careful driver, if Pat and his black and white cat were put off the road in an accident then there’s no doubt Greendale would have ground to a halt. However, a little like-for-like vehicle hire would have
in association with:
soon got him back on the road with a new post-van in no time at all.
Bumblebee (Transformers) Last, but not least, are the Transformers. Saving the world from the Decepticons can’t have been easy, but with no wheels on the road Bumblebee would certainly have left the Autobots a man (sentient robotic life-form) down. However, with a hassle-free service and speedy repair, Bumblebee would be back to the battle quicker than you can say “Autobots, engage!” Nobody can place a fee on freedom from extraterrestrial tyranny, but motor legal protection need not be a pricey policy.
Mr Toad (The Wind in the Willows) Often the centre of many a motor-related conundrum, speedster and motorcarmad Mr Toad would’ve been a prime pick for this policy. With a little help from motor prosecution defence, he could’ve minimised his time behind bars and maximised his motorcar collection with all
Photo Jeremy Thompson
This item is based on a press release published by Best Price Financial Services in December 2014 FEBRUARY 2015 insurancepeople 29
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