Insurance People February 2016 by Insurance People

insurancepeople

Nick Jackson See page 3 Insurance People inside include:

Ian Chippendale Hamida Khatun

Chris Collings

Matt Lacy

Peter Wallqvist

Brian Hall

Andy Pagett

Ray Stibbards

Stephen Walker

rance â&#x20AC;&#x153;The Insu ith ew Magazin tyâ&#x20AC;? Personali

Cover artwork: Carol Newman

issue 60 February 2016

Contents February 2016

Doing the right thing

Late news

Market talk

Ones that got away!

issue 60 February 2016

Nick Jackson

Tony Hart OBE

AI in insurance Peter Wallqvist, RAVN Systems

This month IP brings together a number of interlacing threads. 10

Take Five

See page 3

(page 8). Some insurers are moving slowly, and retarding the fight against fraud. Poor networking

Reg Brown The Postcard Emporium

The protection gap Brian Hall, BHSF

Ray Stibbards

A convoy only moves as fast as its slowest ship

Cover artwork: Carol Newman

insurancepeople

Customer service

News Review

Stephen Walker, Covéa Insurance

On the move Who’s going where?

stifles insurers’ ability to co-operate on fraud at

every organisational level (pages 4 and 15).

Claims fraud Hamida Khatun, Matt Lacy, Andy Pagett

On the Road Off the Rails – again!

Andy Pagett at Ageas reveals the positive advantages of fraud prevention networking on page 14, and going beyond the call of duty for the common good. That greater sense of purpose is taken up by Stephen Walker at Covéa who on page 12 advocates the shared desire for something more

than just profit, and a move towards making

Peter Wallqvist conﬁrms AI software never takes sickies!

Stephen Walker endorses more on-thespot assistance for ﬂood victims

Hamida Khatun says bringing fraudsters to justice means seeing the case through!

insurance akin to the things that it should really be all about, as illustrated during the recent flood incidents. And as Keogh’s Hamida Khatun makes clear on page 16, bringing fraudsters to justice is every bit as much “doing the right thing” as bringing succour to flood victims.

www.insurancepeople.uk.com

Andy Pagett encourages more claims fraud networking

Editorial

Design & Production

Commercial Director

insurancepeople

Andrew Newman FCII, Dip.M e: andrewnewman@talk21.com t: 01892 730539

Adrian Susman e: adrian@insurancepeople.uk.com t: 07981 993974

Jeni Hall e: jeni@insurancepeople.uk.com t: 07969 510172

PO Box 537 Tonbridge Kent TN12 9WG t 01562 862990 m 07981 993974 e info@insurancepeople.uk.com

Cover artwork: Carol Newman Printers Pensord Magazines & Periodicals, Tram Road, Pontllanfraith,Blackwood NP12 2YA Editor and Publisher

Consultant Editor

Commercial Director

Production Director

Andrew Newman

Brian Susman

Jeni Hall

Adrian Susman

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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.

Late News New COO for comparethemarket.com GL Group's comparethemarket.com has announced the appointment of Jesper With-Fogstrup as its new chief operating officer to oversee product management, user experience, commercial partnerships and customer contact operations. He joins from the LateRooms.com group where he was COO before becoming chief executive in 2013. Jesper With-Fogstrup brings experience in strategy, product management, CRM and sales operations to his new role. Prior to joining LateRooms.com, the Dane spent ten years at Gullivers Travel Associates, working his way up to senior VP, global hotel sourcing. He has an Executive MBA from London Business School.

Jesper With-Fogstrup

Covéa “chartered insurer” award ovéa Insurance's commercial lines and high net worth business has been awarded the “Chartered Insurer” status by the Chartered Insurance Institute. Over half of the company’s commercial lines and HNW management team are qualified as Chartered Insurers and 90% of its customer-facing team are active CII members, committed to on-going development through a professional development programme. Simon Cooter, commercial lines and high net worth director, comments, “It’s great to receive this acknowledgement which underlines the dedication and professionalism of the highly skilled and experienced team we have in place supporting our broker and business partners. Gaining Chartered Insurer

Simon Cooter

status was an important strategic objective for our commercial and high net worth business, and forms part of our programme of work to fully align the high service standards previously offered by both Covéa Insurance and Sterling Insurance, as we start 2016 as a fully integrated business.”

100 years' sentences for fraudsters ince its inception in January 2012, the Insurance Fraud Enforcement Department (IFED) has conducted investigations leading to more than 200 convictions in court and over 100 years' jail sentences handed down by the courts to insurance fraudsters. IFED has investigated tens of millions of pounds worth of bogus insurance claims, has dealt with more than 1,400 suspects and has seized or

confiscated more than £1.3m from fraudsters. IFED announces these ﬁgures as it appoints a new head of the department, with DCI Oliver Little taking over from DCI Angie Rogers. Over the past year, IFED has also been working to design and introduce a new ‘hub’ which was launched in January and will enable the team to better assess and manage case referrals that come in from insurers.

Best drivers? Go north east ew research from Direct Line DrivePlus has revealed that the North East has the “best” drivers in Britain. The analysis of the company's policyholders with DrivePlus, which provides motorists with feedback on their driving behaviour, saw drivers in the North East ﬁnish top when scored on safety elements, such as speed, smooth acceleration and braking.

2 insurancepeople FEBRUARY 2016

The study looked at the 10,000 policyholders across Britain with the highest scores and analysed which region had the greatest proportion of drivers in this group, in relation to the region’s driving population. Scottish drivers scored second highest, and the East of England third. The South West and South East ﬁnished in 9th and 10th place respectively. Paul Felton, head of telematics at Direct Line, says,“Telematics

packages such as DrivePlus can help improve a motorist’s driving by providing regular feedback on driving habits whilst also raising driver awareness while they’re at the wheel. This also ensures that the driver is given a premium based on their own driving record when it’s time to renew their policy. This will be music to the ears of many young drivers across Britain, particularly those in the North East.”

late news

Market talk

in association with:

Andrew Newman, Editor

Nick Jackson takes on Partnerships Director role at CDL t’s not necessarily always a company logo, or an ofﬁce building that ﬁrst springs to mind whenever a corporate name or brand comes up. The pleasant, democratic aspect of the “insurance is a people business” theme is that it’s often an individual who happens to represent the corporate image in the mind’s eye. It’s democratic because it can be anyone within the organisation. And that’s usually someone you may have successfully liaised with for many years.

Nick Jackson resides in that category at CDL. A former high street broker with Swinton and Safeguard, Nick has been at CDL for over 20 years and witnessed a period of significant growth resulting from the demand for its software. When Nick joined CDL in 1993, the software house employed 35 people. Now, over 550 people work at its stateof-the-art Strata campus in Stockport. Nick reflects on those early days. “It was a really exciting time when I joined the company. Although we were a relatively small team, we knew we had a great product and there was real expectation that we were going places with it. “Everyone worked really hard, and the office was buzzing, even at weekends. People came in because they wanted to be here. We were young, enthusiastic and passionate about the product."

“

We were young, enthusiastic and passionate about the product

”

Nick tells me that the original focus on contact centre solutions, followed by early entry into the internet and price comparison markets helped drive CDL progress. “Today we’re seeing signiﬁcant demand for our Strata solution, which supports initiatives such as online self-service, telematics and connected home. We’ve stayed true to our goal of providing our clients with a competitive edge by enabling them to be early adopters of emerging technologies to the insurance sector.” Having myself witnessed at ﬁrst hand the progress of insurance-related software right from its beginning (with

Market talk

primitive screens and ﬂoppy disks) it’s a fact that some powerful partnerships have been created. As insurance technologies have evolved, so too have Nick Jackson industry attitudes towards them. A few indicators can be seen in the growing number of innovation conferences, technology awards, and media articles dedicated to the subject. In this environment, there has been increased appreciation of the value of the various industry partners working together to innovate and create the most effective solutions. his has been core to CDL’s ethos for many years – a belief that powerful partnerships create competitive advantage. It may be a simple statement on the face of it, but beneath it lies a challenge to all parties - achieving true partnership requires trust.

Nick Jackson has always recognised that working in partnership with customers is a privilege that demands that this trust is not only respected, but also rewarded. Certainly CDL's customers include some of the most ambitious in the sector, from Autonet to Be Wiser, and Ageas Retail to Tesco Bank. “Over the years,” says Nick, “we’ve enjoyed strong relationships with a range of incredibly entrepreneurial individuals and leading brands, working closely to keep one step ahead of a constantly evolving market.” It’s perhaps a natural evolution of this factor that has seen Nick recently promoted to partnerships director. That’s a newly created position at CDL focusing on engagement at senior levels with strategic customers, insurers, and key business partners. “The role reﬂects CDL's continued commitment to investing in its partners as it continues to expand,” he adds. “The technology underpinning insurance transactions and product design is now much more complex with an extensive range of partners involved, from broker and insurer customers to data enrichment, premium ﬁnance and telematics service providers. “I’m therefore pleased to be taking on more responsibility for engagement at this level, and see it as a sign of CDL’s commitment to working strategically with our industry partners.” FEBRUARY 2016 insurancepeople 3

Market talk Is there a shortage of good networking in claims?

The value of good networking

Ian Chippendale chairs SPLF B

y coincidence, the topic of long-term networking acquaintance resulting from years of regular contact at industry events and forums (as referred to in the previous item) came up in a recent conversation I enjoyed with Ian Chippendale, the former chairman of Direct Line Group, just one of his many high level appointments during his career.

s better networking needed in claims? The bottom line value of inter-company socialising at all levels may have previously been difﬁcult to quantify. But it is working its magic in the ﬁght against fraud as revealed on page 14 in this month’s IP.

However, that page also contains an accusation (some might add the word ‘scurrilous’) that some of the larger insurers are inadvertently hindering the ﬁght against fraud. It’s apparent that some organisations have yet to wind up their cooperative spirit and processes when receiving fraud-related enquiries and information from other insurers. The excuses for these inertia-driven responses include contact staff having moved on; data protection issues; and out-of-date internal processes. Often it’s simply because no-one at the appropriate level in the organisation has been designated for this task – or if they have, they have not been given any networking opportunities to mix with their opposite numbers.

Recalling various networking and social meetings in the dim and distant, there was one occasion when our meeting was considerably more formal than usual. The insurer he worked for at that time was thinking of buying the one I worked for! I wasn’t leading that sales pitch, but I was there, and I remember Ian slapping down (quite rightly) my attempts to make the meeting a little less formal. “I have found over the years that my Northern roots can make me appear a bit too ‘straightforward' at times,” says Ian. “That’s refreshing for some, but not for others. But no offence was ever intended, and hopefully none was ever taken.” Amen to that. an tells me that he has stepped back in the past three years, his only independent directorship now being with Alleghany Corp of New York, the parent company of TransRe (formerly Transatlantic Reinsurance). Ian is the only non-American on that board.

But our main conversation was about his involvement as a trustee at the Society for the Protection of Life from Fire charity where he recently took up the chairmanship role.

And that problem is naturally going to be more difﬁcult to solve where there are lots of people, and levels of authority, coupled with multiple management layers which slow down decision making. When insurers need to discuss potential and actual fraud matters it makes sense to avoid any cold calls. The participants should already know each other; have previously met to iron out any obstacles; and shared views and experiences. And in doing that, build trust. Get networking!

4 insurancepeople FEBRUARY 2016

Ian Chippendale (right) making an award at a Dorset Fire and Rescue Annual Awards Evening

Market talk

in association with:

Filling the protection gap

Psst! Wanna buy an insurer? nsurance people can be very resilient, enjoying the ups, and enduring the downs with dignity and perseverance. There are two particular career humiliations I could name. One is having to re-apply for your own job (one record holder I know survived that process on four separate occasions during a particularly cannibalistic period of M&A activity!). I never suffered that one, but I did go through the second trial which is the company sales pitch campaign.

• Our claims director being quizzed by a former employee who three months before had been a junior claims handler in his own department before defecting to the potential buyer! • The mid-west American CEO who fell asleep during the presentation, and suddenly awoke to blurt out a question that had already been covered during his nap!

The owners of an insurer where I once worked decided to test the waters by inviting a number of suitors to inspect their crown jewels and make an offer. The various pitches had their memorable moments:-

• The unique secret pleasure when networking friends turned up in the difﬁcult role of inquisitor. That thrill was the knowledge that I knew that they knew (and that they knew I knew) that their proposal inevitably contained a certain quantity of bovine fertiliser!

• An audience in the grand Royal Exchange, which was anything but grandiose. The inner-well restaurant and bar (now thronged daily by luxury shoppers and City networkers) was a long way in the future, open to sky, wind and rain and choked with over-full wheelie bins, as I remember

But the joke was on us in the long run, especially with a ‘No Sale’. The moral is that any company exposing its crown jewels to potential suitors deserves all it gets, and in this case it didn’t take long for a number of homespun scheme ideas to make a wider appearance throughout the market.

Established in 1836 before the creation of official fire fighting organisations, all ten of the original trustees were drawn from fire insurance companies including Atlas Fire & Life Assurance, Commercial Union, London Assurance, and County Fire Office.

very fortunate in the past few months, following a small fund-raising campaign, to receive some top-up funding from a number of well-known insurers, and the Society’s financial health has been secured for the immediate future.”

Since then, the charity has continued to promote the insurance industry, but has evolved to specifically recognise acts of bravery by members of the public and police officers in rescuing victims of fire occurring nowadays mostly in domestic properties and after road accidents. Nominations for these awards are received from the emergency services and a medal is awarded for exceptional acts. Juveniles may also receive a small cash award. “The Society’s only source of regular income is a small amount of bank interest which is, these days, insufficient to cover the Society’s very modest administrative expenses,” explains Ian. “We have been

Market talk

The Society’s administration has been supported by a series of senior insurance industry people and fellow trustees are Sir John Carter, Graham Doswell, Rick Hudson, Tony Lancaster, Tony Latham, Ian Rushton, Roger Taylor and Ray Treen. For more information see www.splf.org.uk

Lead PP role for employers? n his article this month on page 18 Brian Hall, MD of Birmingham-based BHSF Employee Benefits makes the case for employers to help bridge the ‘protection gap’ created in the aftermath of the PPI mis-selling crisis. “Heavy fines for regulatory failures for poor advice have scared off many providers to the extent that banks and others shy away from selling ‘add-ons’ and other financial products. The perception of protection insurance must be turned around to become a must-have service, and employers are ideally placed to succeed in this task.”

FEBRUARY 2016 insurancepeople 5

Market talk Formula

r to be a M turned out late nel manager of NE claim to nearly The 1960s person l St John could lay hae Mic o. her firing a torpedo submarine war VIII) at golf, and re king (Edward eer braining the futu ket battleship Sch poc n ma Ger the ge at salvo at long ran

I still enjoy keeping in touch via IP. A couple of comments on the December/January’s issue.

terested (I ve pprise (beloved I azine editors). f the potential rence by a help us all. The . ON INITIATIVE to g ambassador

The German sailors were very friendly and helpful in lifting me up the steep hatchways. How things changed! Furthermore 75 years later I was fortunate enough to join a group from WCI to spend a day on HMS Edinburgh. I mentioned to the Captain that I was probably the only one on board to have been aboard a German pocket battleship, and I certainly found the stairways just as steep. Alan Cleary’s profound ‘Thought for 2016’. Dear Editor, Best regards to your lovely team for their continual good work. In particular, I love the On The Road articles and indeed after checking who is on your cover each month I always turn immediately to read OTR ﬁrst.

they have to so dinners in case nce than they do more about insura will forget R 2016 - People get TH OUGHT FO y’ll certainly for The te. wro what you what y’ll even forget The d. sai you what how you y’ll never forget you did. But the l. made them fee

Finally, it is enjoying to say that qualiﬁed to

for a happy Every best wish and a prospero us Ch was good to hear that Kedric Rhodes his retirement in Spain, but I have I am not sure whether he is join the “old boys” yet.

Best regards and look forward to enjoying your good work in the New Year. Brian Johnston, Chairman, Brian Johnston & Co (Insurance Brokers) Ltd and Linkﬁeld

Closer to home, I thought Sue Coffey's (Covéa Insurance) A New Approach article provided stark realism about insurance communications, delivering an important message in a well-crafted article that our regulators should read.

John Shetcliffe

Also Alan Cleary's acerbic wit does make me chuckle in his Brickbats & Bouquets especially knowing many of the characters involved. But equally I share the reali sm of many of his "Worst incompetents" service failure awards, which match my own disappointing experiences from certain household names.

6 insurancepeople FEBRUARY 2016

g: Dartford Crossin minor delays 1963 - 2 lanes – delays di

He is so right. A few years ago at a brokers’ get together he told the gathering during his amusing and witty comments about individuals present that he thought my poor attempt at cultivating a “full set” looked like a worn-out ﬂock mattress! Alan Cleary: “Unfortunately, I can't take any credit for the ‘Thought for 2016’. It's based on something I spotted in a newspaper some months ago.”

Dear Editor,

Your very interesting items in On the Road in Brian Johnston which you mentioned Michael St John’s exploits reminded me that at the age of ﬁve in 1938 I was aboard the German surface raider Admiral Scheer during a goodwill visit to Chatham’s Navy Day.

As always, Terry Wellard's articles demonstrate his insight for the implications of questionable short term market practices and remind us all about the values that underpin the integrity of our industry, which I fear may be lost on some new entrants, whose concern for shortterm margins fail to recognise our genuine duty to the innocent end consumer. John Shetcliffe, Consultant E-Mail: jshet@btinternet.com

Market talk

in association with:

MGAs still playing the motor market

From the Archive (legitimate and authenticated!) 27 handicap. I didn’t object at all to his tutoring and advice on every putt or approach shot, and the result was a runner-up team prize, which explains my smug look and the clutched wine bottles in the photo. Having first trained as an engineering draughtsman, Patrick Mower graduated from RADA and told us how by lucky chance he went Left to right: Les Brown, David Napthine, Patrick Mower, Jimmy Hill, A.N. Other straight into a West End production of Rebecca (which included Sally Ann Howes, later known for her role as his photo from the archive surfaced in late December Truly Scrumptious in the 1968 musical film Chitty Chitty on the sad news that former Brentford and Fulham Bang Bang). And when that run ended he was hardly footballer Jimmy Hill had passed away. IP’s Brentford ever out of work, having made many film and TV mafiosi member Adrian Susman was at Griffin Park on appearances, which included one Carry On film and the day, when one minute’s silence was observed. memorable TV series like Minder, The Sweeney, The Although perhaps more widely known for his days with Avengers, and Bergerac. Fulham and during his later career with the Professional Having just completed a run in Oklahoma! at the time of Footballers Association (he was responsible for seeing off this particular round of golf, he treated us to occasional the restrictive maximum wage) and as a TV pundit, Hill bursts of song out on the fairway at full volume. Oh! made 83 appearances in the red and white stripes with What a beautiful morning! wasn’t as off-putting as might Brentford. be thought – in fact it was very uplifting, because as I recall it was indeed a beautiful morning. The insurance connection with this 1980s’ photo lies in the appearance of Les Brown, at that time with Swinton (now retired and now enjoying crown green bowls in preference to golf); David Napthine, then MD at Lion Insurance, and still golfing; and a beardless hanger-on far right adjacent to Mr Hill.

Motor “still crazy after all these years”

The missing broking connection lay behind the camera, Chesham-based broker John Turberville. For it was he and his wife Sally Turberville who set the up the annual Fulham Supporters Club Celebrity Golf Day. And of course as lifelong Fulham supporters their friendship with Jimmy Hill encouraged a wide selection of celebs to participate. Over the years I enjoyed the company of friendly stalwarts such as Bernard Cribbins, Tim Brook-Taylor, and actor Robert Powell. On the occasion shown in the photo it was another actor Patrick Mower who joined the party. The celebrities were always competitive, but Mower proved to be the most eager to win a prize. That probably explains why he took an instant shine to me, on learning of my

Market talk

he following paragraph probably best read with David Attenborough in mind). Recent Yuletide networking activity proved to be one of the rare occasions when the genus MGA motorus privatecarus frolic in public. Normally extremely (press)shy, it seems these fascinating creatures are no longer an endangered species, and perhaps they never were. In fact, they thrive. (

It would have been thought that ‘big data’ would deplete all the niche options. I needn’t have worried. I’m told the market is just as crazy as it ever was, and a streetwise operator can still play the market. Today’s motor niche continues to prove to be tomorrow’s mainstream… and vice versa.

FEBRUARY 2016 insurancepeople 7

Market talk

in association with:

Collings completes 44 years at Swinton

Collings joins Markerstudy as non exec od’s Law, isn’t it? You interview Swinton Insurance’s longest serving employee Chris Collings (see June 2015 IP) – for many of us the ‘face’ of Swinton, both before and particularly after recent troubled times - when he provided a consistent voice promoting reassurance of better times ahead. And now he retires.

“The ones that got away”

Not that he doesn’t deserve to do so. And of course, it’s not exactly a retirement. From an impressive career at Swinton spanning over four decades man and boy, he joins Markerstudy in the role of non executive director. As Kevin Spencer, Markerstudy Group CEO says, "With his wealth of experience, Chris is one of the most recognised and respected names in the insurance industry. I am now delighted to welcome him to our Group.” Chris adds, “I’ve known of Markerstudy for many years and have always admired the Group’s signiﬁcant achievements and professionalism. I’m very excited to be embarking on this new challenge with such an energetic team and dynamic company.” Now everyone knows that every single press release appointment quote repeats that last sentence almost word-for-word. But in Chris’s case it really rings true – loud and clear!

Lt Tony Hart OBE nthony John Hart was born into a loss adjusting family. His father Cecil founded Hart & Co, later to merge to become Cunningham Hart. Born at Southend and educated at King’s College, Wimbledon he “ran away to sea” after a brief period in the business.

Joining the Royal Navy in 1943 as an ordinary seaman, his ﬁrst ship, the destroyer Beverley, was one of 11 American, British and Canadian warships protecting 64 slowmoving merchant ships in convoy SC118, en-route from Halifax, Nova Scotia, with 20 U-boats waiting in ambush. Intercepting a wireless signal from U-187 on the surface, Beverley sped down the bearing in a snow storm, forcing the German submarine to dive, allowing her to guide another destroyer over the target and sink it. Beverley picked up 40 German survivors, and over the next four days attacked other U-boats. A dozen merchant ships were lost, but two more U-boats were sunk and two heavily damaged. This battle persuaded the enemy to abandon daylight surface attacks on convoys. Hart left Beverley for ofﬁcer training, and two weeks later she was sunk, with only four of the ships’ company of 152 surviving.

Chris Collings 8 insurancepeople FEBRUARY 2016

Some OTGA escapees only enjoyed temporary breaks in their insurance career. In the 1940s it was often the call of duty during this country’s direst hour that inspired the temporary departure

In 1944 he was ofﬁcer of the watch on the destroyer Curzon south of Beachy Head when U-212 ﬁred a torpedo. Spotting the track he ordered Curzon to turn towards the enemy, and then stop engines

to comb the track, keeping the propellers silent in case it might be a homing device. The torpedo missed, and with a good asdic contact U-212 was sunk with depth charges. Hart was awarded the Distinguished Service Cross in 1945 for these actions, and later battles against motor torpedo boats operating in the Channel and North Sea. Tony Hart rejoined the family ﬁrm in 1946, later becoming a senior partner and chief executive of Cunningham, Gibeaud & Bryant in 1972, where he remained until his retirement in 1987. He had been elected a member of CILA and was its President in 1964. The OBE was in recognition of magistracy service in the City. In 1979 he supported the formation of the Worshipful Company of Insurers which he served for the rest of his life.

Lieutenant Tony Hart 1923 - 2015 Market talk

Peter Wallqvist Managing Director, RAVN Systems

Artificial Intelligence – the next revolution? Peter Wallqvist believes Artificial Intelligence (AI) has the potential to revolutionise the insurance sector, and explains how greater efficiency and better customer service can be combined with reduced costs via the automation of operational processes he insurance sector is a highly competitive market which has recently faced fundamental changes, including stricter regulatory requirements. Solvency II; low-level interest rates; and greater emphasis on risk management causes ﬁrms to look for more innovative ways to stand out from competitors and become more efﬁcient, both in terms of time and cost.

The insurance sector is a notably document-heavy industry with vast amounts of data, often on different systems and databases due to past mergers and acquisitions. The need to automate speedy location and extraction of relevant information has never been more urgent.

“

Speedy data extraction has never been more urgent

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Today, AI can replace or enhance any process involving “routine cognitive” work by manual labour. It essentially means technology that can mimic human behaviour. Platforms that can automatically read, interpret, and extract data from huge stacks of documents, and automatically perform due diligence exercises, review contracts, categorise and delete unwanted or ‘dark’ data. Such automated software can also follow and learn from rules to support workflows and procedures. The automation of such processes can benefit insurance organisations in numerous ways:Greater Efficiency: AI is far more efficient at reading, extracting, and summarising information than manual efforts. Desired information flows much faster. More business can be handled in less time, and staff that once performed these manual tasks can now focus on higher value work. Insurance organisations benefit from an

improved time-to-market with fewer delays in arriving at decisions, giving them a competitive edge. Mitigate Risk: By automating the review process, organisations can reduce risks such as typos and other human errors. As people interpret data in different ways it’s assuring to know that automated review is done in a consistent manner with consistent results. AI can help organisations mitigate risk against regulatory compliance issues because more risk-based decisions can be automated, based on risk analytics data which helps businesses decide how best to mitigate that risk. Underwriters can better understand the review process a risk needs to go through, and be encouraged to negotiate more in line with the enterprise’s risk profiles. This reduces the number of exceptions that have to pass through costly and time-consuming business or legal reviews. Increased Margins: Margins can be increased - more work can be done in less time. There’s also a reduced need for additional temporary staff to meet tight deadlines. Costs are maintained as AI does not require promotion, pay rises, overtime, or sick days. Automation can also of course significantly reduce paper processes, while increasing the overall benefit of better quality service to end clients and brokers. Businesses within the insurance sector need to be open to innovation and more flexible in their use of technology to drive improvements in their business processes. o do I think this technology will replace the role of humans? No, I don’t. And it shouldn’t be feared on those grounds. The industry will still need to ask questions of the technology, and interpret the answers. Client relationships are of utmost importance in the insurance sector – and people want to do business with people. These relationships can never be replaced by automation. Peter Wallqvist

FEBRUARY 2016 insurancepeople 9

Take Five

The good ol’ Ray Stibbards

(pronounced ‘nig’ in its heyday)

Get any three insurance people ‘of a certain age’ together around a convivial table to talk about market issues, and it’s usually just after the coffee has been served that the reminiscences start to flow. The following conversation centred on the news that Crown House, London EC3 no longer exists! The home of the National Insurance & Guarantee Corporation – ‘the Nig’ to those who knew it well – is no more. It has ceased to be. Ray Stibbards, Broker Compliance Consultant and former Agency Director at NIG sets the scene with IP team members Brian Susman and Andrew Newman RS: Finding myself passing down Old Street recently I was saddened to see that Crown House has been demolished and is being replaced by upmarket apartments! It set me thinking back to the many meetings and incidents that took place within its walls. BS: Crown House witnessed many happy meetings with the friendly faces at NIG. I also recall the limerick competition that NIG ran for brokers which they sometimes used in their trade press ads. RS: Brian, didn’t you once gatecrash that competition? Not actually being a broker yourself?

BS: I’m glad you’ve asked me that. I did indeed – and won some champagne and a lunch at a swish London hotel with a few others. An accomplished cartoonist then compiled a suitable cartoon based on the words, and the package appeared in an NIG ad, along with four or five other winners. My effort went like this:A broker near broke, I believe Said “There’s only one cure I perceive. Sell the wife and the pig, Give it all to the NIG, And leave it to Tren and to Steve

AN: ‘Tren’ and ‘Steve’ being the well-remembered Alan Trenaman and the late Mike Stevens of course. BS: Yes many of today's older school of brokers, particularly those with a motor insurance background, will remember them with affection. 'Tren' was general manager and 'Steve' agency manager – both job descriptions that have long since disappeared from the insurance scene. They were the epitome of what the top men in personal lines insurers were all about in those days – always out and about with brokers, keeping in touch with what they were thinking and doing. And from a press man's perspective they were the ideal companions – always totally assured in what they were saying on behalf of NIG and never afraid to say it in front of a journalist, as long as he or she was one they knew they could trust to get it right in the printed word. A couple of real characters, at a time when the insurance world was not short of “characters”.

10 insurancepeople FEBRUARY 2016

take five

NIG

he conversation went on to reflect on how subsequent market consolidation has seen off many of the renowned, once familiar insurer titles.

AN: But within our own circle, those names were merely ciphers for the people that worked in those companies. It was

certainly a ‘people’ business. So if you were going to “see NIG” that meant you were going to see Ray Stibbards or John Gaynor, or any other of their renowned colleagues. At the time when I enjoyed that pleasure in the 1980s, NIG was a really effective peer leader in their particular sector of personal lines. Bags of commonsense leadership and market influence. But the later succession of take overs at NIG inevitably took their toll. Churchill didn’t disrupt the model too much, but the writing on the wall started to creep in with Churchill’s acquisition by

“

Direct Line and then the Royal Bank of Scotland era which saw the one-time market leader in its field unwanted, and out of place within the banking fraternity. But despite all the upheavals, the NIG brand still exists, although only a shadow of its former self. Personal lines was dropped in 2010 and various changes of ownership have witnessed the gradual dispersal of NIG people. RS: But not without some great success! There’s one team at least who carried out what must be the largest en masse insurance team migration from one brand to another – to LV=!

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“

AN: Alan had retired, I believe by the time I got to know NIG well during the 1980s, but I had enjoyed the privilege of being a NIG customer long before that. My NEM employer never insured anyone under 21 on their Careful Driver’s policy, but good ol’ NIG stepped in to insure my first car when I needed them.

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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 2016 Member of: Association of British Insurers, Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

take five

FEBRUARY 2016 insurancepeople 11

Stephen Walker Head of Claims Operations, Covéa Insurance

Easy does it Examples of instant customer care by service-orientated insurance providers in recent storms and flooding now push the boundaries as to what insurance is really all about. Stephen Walker explains how today’s services can be a million miles from failures of the past espite my youthful appearance, I can remember the days when insurers believed that you had to make it difficult for customers to claim on their insurance policy. The thinking was that this would keep the number and cost of claims down, and that was exactly what the business wanted.

Fortunately times have changed considerably since then, and the thinking now - both in our industry, and certainly in my own organisation - is a million miles from this. So what’s brought about this new genuine service focus, and what does it mean to customers? It’s my belief that we have a greater sense of purpose than ever before, which stems from a shared desire to achieve something greater and more worthwhile than profit or financial savings. We want to do the right thing for our customers and our people. Profit may be the result, but is not our raison d’etre. You might think my boss will be hot-footing it to HR due to this seemingly traitorous statement, but actually he agrees. And so does our CEO. We want to make it as quick and easy as possible for customers to make a genuine claim. Not just because that’s the service they have 12 insurancepeople FEBRUARY 2016

paid for – and are entitled to receive - but because our sense of purpose comes from our shared belief that it’s the right thing to do. This alters the way service is delivered and - in turn experienced by customers, because they feel understood, genuinely appreciated, and are guided and involved in the process, making them feel reassured and valued. This was demonstrated poignantly in a thank-you note I saw recently from an elderly woman who had been robbed at knifepoint. Although distraught at the loss of the wedding ring she had worn for sixty years, her shakily handwritten letter of thanks expressed gratitude to the individuals who had dealt with her claim, who, she said, had restored her faith in humanity, showing care and understanding beyond her expectations.

“

make sure that those responding in the frontline have a skill-set that includes emotional intelligence, as well as technical knowledge and customer service insight. But I think it’s essential to get the basics right in order to gain customer loyalty too. You can gain or lose a customer at the point of a claim, so making the claims process easy, removing obstacles, and minimising the customer effort required are crucial to setting their expectations at the outset. The last thing we want customers to think is that we’re putting barriers in their way pointlessly. The Harvard Business Review is a proponent of this approach, publishing an article by Karen Freeman, Matthew Dixon and Nicholas Toman entitled Stop trying to delight your customers.

...emotional intelligence, technical knowledge and customer service insight

orking in claims, we often help customers in the most distressing and stressful of circumstances, so it makes sense to

”

They conducted a study involving 75,000 people to assess the impact of customer service on loyalty. It confirmed that customers are much

customer service

“Care and understanding beyond expectation”

more likely to take revenge on a company and abandon it down to bad service, than they are to choose one for its ‘over the top’ service. The conclusion drawn is that companies are far better putting their energy into consistently meeting customers’ basic expectations than they are trying to exceed them. This means looking at everything you do to minimise the level of customer effort involved.

“

vouchers and hampers for stranded customers

”

his is all well and good in theory, but in practice, there’s nothing like a major weather event, followed by another and then another to test the service capabilities of insurer claims teams. In December 2015, Storms Desmond, Eva and Frank caused widespread damage and severe flooding across Cumbria, Yorkshire and parts of Scotland. Loss adjusters on the ground were well prepared and sprang into action in affected areas, ensuring the insurance industry was on hand and ready to help before, during, and in the aftermath of the flooding.

At Covéa Insurance, thanks to our weather mapping software integrated with our customer data, we were able to prepare for the surge and visit customers in the

customer service

affected areas (some of whom had no means of contacting us as a result of power and communications networks being down) to ascertain what help they needed. One elderly couple were found by our loss adjusters upstairs in their flooded home, refusing to leave, and so were given assistance to temporarily modify their home, allowing them to stay there safely. Cross-trained staff across multiple sites worked overtime and around the clock to meet the surge situation with telephone response service targets continuing to be met. Normal claims protocols were truncated or modified to allow the swift and easy payment of claims and payments were made to assist customers in advance of their claim being received. Vouchers and hampers were provided for customers displaced from their homes due to floods over the festive period. In contrast to previous storms in 2005, 2007 and 2009, media criticism of the insurance industry so far has been minimal, and has been confined mostly to the time it has taken to set up Flood Re. Government has borne the brunt of the anger of those affected, with David Cameron heckled by angry locals in York for failing to fund adequate flood defences. It’s perhaps a little premature to claim a victory for the insurance industry. Cleaning up after floods is likely to take several months and there’s no guarantee that there won’t be more weather incidents. Repairing homes and businesses can be a long and complex process, and repairs can only begin after a property has fully dried out. But if our data and customer feedback this far is correct, we should all feel a sense of

“

advance payments for flood victims

”

achievement that a transformation of our industry’s reputation for customer service might well be underway, thanks to the combined efforts of individuals with a greater sense of purpose who have been driving change with their genuine commitment to caring for customers.

There’s no doubt our purpose comes from delivering a timely, relevant and empathetic service to our customers when they need it, so when it comes to making insurance claims, ‘easy’ does it.

End of year floods Prince Charles visited residents and emergency workers in Carlisle, giving them a morale boost. On the other side of the Pennines, Covéa Insurance CEO, James Reader’s local community suffered the worst flooding for thirty years. He was one of the volunteers on the streets over the festive break, helping fellow residents salvage what they could from their flooded homes, witnessing first hand the devastation caused.

FEBRUARY 2016 insurancepeople 13

Fraud

A tale of three claims by Andrew Newman

There may once have been a time when industry response towards proactive anti-fraud action by insurers was very low on the agenda. But today much of that reluctance is being swept away. The Editor looks at three examples that highlight not only the co-operation that takes place among insurers, but also the willingness to prevent those who perpetrate claims fraud to simply withdraw their attempt and walk away scot-free

Claims Story 1 N o fraud was actually proven in this claims handling incident kindly provided by Andy Pagett, manager of fraud intelligence at Ageas UK. But it does offer an insight into the way in which insurers are working together.

of duty to prevent a possible fraud against another insurer. It demonstrates how insurers need to invest in having astute claim handlers with the skills to pick up on the tell-tale signs of dishonest activity.

“Alarm bells rang during an outstanding claim conversation when an Ageas policyholder mentioned his ‘other’ vehicle,” explains Andy. “The claimant’s line of questioning was odd, and this ‘second’ vehicle was insured with Allianz.

“It also highlights the fact that if we had proven fraud on the Ageas claim and thus added the customer to the Insurance Fraud Register, other insurers on the register would have been alerted if he had tried to proceed with a policy or claim.

“The Ageas claims handler contacted Allianz, and it became apparent that the policyholder had reported the theft of the same vehicle to them. When Allianz revealed that they were aware of the conversation he’d

14 insurancepeople FEBRUARY 2016

Andy Pagett had with Ageas, he promptly withdrew the claim. “The key to this case was that the customer’s behaviour and questioning was sufficient to raise concerns by the Ageas claims handler who went beyond the call

“The success of the IFR relies on as many insurers as possible getting on board, giving them access to a database of known fraudsters while sending out a strong message to those intent on defrauding the insurance sector.”

fraud

Claims Story 2 The previous case raises a crucial point – detecting fraud is one thing, proving it is another. The full headline behind this next claims story reported in December was “QBE wins £500,000 Contempt of Court action against fraudster” - which might confuse the uninitiated. Is QBE really going to ‘win’ £500k from a potential fraudster? att Lacy, director of casualty at QBE clariﬁes the confusion. It’s the case that has been won – not the money. “£500,000 was the approximate amount that the claimant fraudulently claimed from QBE’s client in connection with his accident at work,” explains Matt. “We’re not seeking to recover this money from him.

“We have to distinguish that there are genuinely injured people that have a right to claim compensation for their injuries, and we take pride in our ability to rightly compensate those

people. However in situations where we identify inconsistencies and misrepresentations, we will investigate to ensure that our customers are protected from the ﬁnancial burden of a grossly exaggerated fraudulent claim. “The fraudster claimed for a leg and back injury sustained when falling from a vehicle alleging signiﬁcant incapacity. But evidence and surveillance footage revealed this was grossly exaggerated, and the claimant withdrew his claim in its entirety.”

Co-operation between insurers Roger Snook, Claims Consultant observes: “Unfortunately there remain too many insurers who still hide behind the Data Protection Act and obscure internal processes as reasons as to why they will not give the sort of assistance illustrated in this case, despite the far better tools now available in this computerised age to help them detect potential fraud.” Editor’s note: Roger Snook is correct – there are plenty of examples of brick walls created by insurers themselves that frustrate the fight against fraud. For example, contact arising from a match on CUE can founder on discovery that the company contact details are wrong or obsolete. Sometimes there’s complete mystification when it comes to attempts to discover exactly who is responsible for dealing with CUE matches. Enquiries also fail when (even when they are aware of an incident) a company refuses to co-operate simply because the claim has yet to be “reported” through the official channel. Experience shows that it’s usually some of the larger insurers who are the most reluctant to assist, and the reasons for that are not hard to spot. A lack of professional networking! (See page 4) The Editor

fraud

Matt Lacy As in Claims Story 1 earlier, attempted fraud was thwarted. No claim was met, but in this case QBE took the decision to proceed with an action for Contempt of Court against the fraudster who had dishonestly claimed damages valued between £400,000 and £600,000 when surveillance revealed him gardening, ﬁshing and carrying out DIY activities. “This contempt case is yet another example of our success in bringing perpetrators of insurance fraud to justice,” adds Matt. “The case comes on the back of other well-publicised attempts to defraud our clients and QBE of substantial amounts of money, and demonstrates how we will resolutely defend our interests and those of our clients.” The trial for Contempt of Court was heard over 14-15 December 2015 at the Exeter Combined Court where an immediate three month custodial sentence was made. HHJ Cotter commented on the wide repercussions of fraudulent claims. “There is a strong public interest in punishing them. They stand in the way of others obtaining proper and just compensation. They have become endemic, and place real burdens upon defendants, who are obliged to expend signiﬁcant sums of money in investigating them. Further, they strike at the heart of the principles of honesty and openness FEBRUARY 2016 insurancepeople 15

Fraud which underpin our justice system. Anyone who dishonestly exaggerates a claim to that extent must expect to go to prison.” My own industry experience (gained over perhaps more years that I care to remember) reveals insurers’ one-time reluctance to instigate a Contempt case against an individual. But times have changed. Matt conﬁrms, “I would not agree that the market shies away from taking up cases of attempted fraud. Insurers are making signiﬁcant efforts to change the cultural perception that insurance fraud is not a crime. There have been more than a dozen custodial sentences handed down in 2015 through various other insurers’ actions as well as QBE. “Insurance fraud matters have never had more of a platform than today with industry bodies appearing in mainstream media and even a dedicated television programme (BBC Claimed & Shamed) showcasing insurer investigations and outcomes to the general public in the overall strategy to change the culture. “We work closely with IFED and the IFB to co-ordinate efforts to bring perpetrators to justice. QBE will take all measures to defend its clients against fraudulent claims, and our Special Investigations Unit is designed to focus exclusively on such cases.”

Roger Snook, Claims Consultant observes: “Despite the willingness of courts to take a stern view where dishonesty is proved, one cannot emphasise too strongly that it’s essential that potential dishonesty is identified at an early stage, and that the evidence is examined carefully, as in this case, before accusations are made.

16 insurancepeople FEBRUARY 2016

Claims Story 3 Fraudsters will continue to attack industry weak spots – and often go to extraordinary lengths to intimidate insurers he theme of perpetrators of attempted fraud absconding scot-free simply by withdrawing their claims without any loss or deterrent came up in another December case. Reported by Keoghs, acting as defendant law firm for Churchill Insurance, this contempt case saw four fraudsters sentenced to a combined 24 months at Liverpool High Court on 22 December 2015.

Keoghs report that while the prospect of costs recovery in this staged accident involving six false claims for personal injury and solicitors’ costs was minimal, a decision was made in the wider public interest to send out a strong message. The committal in this staged accident case was against making a false statement in a document verified by a statement of truth, in a way that materially interfered with the course of justice. Keoghs, on behalf of Churchill, defended the proceedings on the grounds of fraud right up to the date of the civil trial back in January 2014 when - two days before trial – the fraudsters’ solicitors served Keoghs with a statement of £72,000 costs in a final attempt to force Churchill’s hand. This claim was discontinued at the last minute. The case was conducted by Hamida Khatun, an associate at

Hamida Khatun Keoghs, along with barrister Mr Marcus Grant of Temple Garden Chambers. Eloise Kendall and James Everson were the Churchill case handlers. Following the sentencing, Ms Khatun confirmed this was not an easy case to pursue because of the complexity and volume of evidence. “The serious consequences of a guilty verdict meant we cautiously analysed every strand of evidence to ensure it would withstand the test under the criminal standard of proof. Eventually, when Keoghs presented the evidence to the court, the contempt was proven against all four defendants who now face the ultimate consequences for their actions. I am thankful to Ms Kendall and Mr Everson at Churchill, who were determined to see the case through in order to bring the fraudsters to justice.”

fraud

Reg Brown’s Postcard Emporium Two cards this month from the Reg Brown Collection… Never a truer word:“There is no such thing as cheap insurance… you get what you pay for…” So said Moline, Illinois broker C. Fred Flick in this rather understated 1961 postcard addressed to a local doctor.

Promotional budgets

have not? These cards from Promotional budgets – to have, or heart of the marketing the Reg Brown Collection go to the over the years. iders prov e ranc conundrum faced by insu prefer to close the lid to Ignoring the “have not” brigade who n taken by the more the outside world, promotional actio toe-in-the-water tive tenta from gregarious sector ranges to full-blooded overleft, card post ﬁrst the like s promotion depicted in the second card. the-top spend and commitment as card itself that is the subject In the ﬁrst illustration it’s the post the second the postcard is matter of the promotion – while in a much larger promotion. of ence evid merely the adjunct and The Editor

This card from an earlier date proves that ﬂamboyant OTT showmanship in insurance is nothing new – at least not in Florida. The Foley-Carter Insurance Agency message is a lot more homely:“Let’s get acquainted, it will pay you and please us” “Homes – their protection – that’s our job” Obviously the word ‘Tornado’ packs more punch in Florida, as depicted on the side of this heavily customised Model T Ford.

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FEBRUARY 2016 insurancepeople 17

Brian Hall

Changing the perception of protection cover

Managing Director, BHSF Employee Benefits

The protection gap – a ticking time bomb! In the wake of the PPI mis-selling wreckage, the protection gap is now a threatening reality. Brian Hall urges today’s employers to help bridge that gap so that employees are not abandoned to the financial risks of fate

employers are well-placed to ensure that members of their workforce have adequate insurance, and to deliver the peace of mind this brings. However, many are simply not aware of the simple, low-cost solutions that exist in the marketplace.

he stark facts highlighted by statistics are that two thirds of UK adults have no life insurance. Almost half of all households are said to have less than £1,500 in savings.

Just a third of employers offer insurance such as group life, income protection, or group critical illness cover. But group life, for example, is available from around £1 a week for any size employer – as is cancer cash cover – while sick pay is available for around £2 a week for any size employer.

The stark warning is that this insurance ‘gap’ is a massive ticking time bomb for a significant number of working families who risk serious debt problems if they find themselves having to survive on one – or no – income, even if only for a short period of time. According to the Department for Work and Pensions, an average of almost one million employees were on sick leave for a month or more each year between October 2010 and September 2013. Alarmingly, a study by Yorkshire Building Society has also indicated 52 days as the average time UK workers could survive on their savings. How has this ‘ticking time bomb’ arisen? It’s the result of changes in the manner in which personal protection insurance has been sold (or indeed mis-sold) in recent years.

in the street bought cover largely because someone had knocked on their door. However insurance support for low-to-middle income families has long been in retreat. There is no more ‘Man from the Pru’. And the loss of thousands of insurance advisors has been compounded by the banks withdrawing from nonviable customers. At the same time, banks and other institutions are reluctant to sell ‘add-ons’ to other financial products due to increased regulation. This has left many working people vulnerable should they find themselves facing a prolonged absence from work. While we all like to think, “It won’t happen to me,” this mindset needs to shift. It’s important to be prepared for life’s eventualities. Health events – which are generally unexpected – can have serious financial consequences. For many families, debts and financial hardship are triggered by being unable to work, and sadly not having a back-up plan when it comes to paying the bills.

The role of employers Decades ago, this insurance was widely sold by doorstep reps. While admittedly this was preregulation, and standards of advice varied widely, the man or woman 18 insurancepeople FEBRUARY 2016

Employers have a significant role to play in bridging the protection gap – currently running into trillions of pounds in the UK. Today’s

“

Filling the insurance gap via employers

”

The perception of protection insurance really has to change. It needs to be seen as a must-have, as workers who do not have it are taking a huge gamble with their financial security. It must also be seen as a cost-effective product to be accessed via the employer – as rest assured no-one else is going to come knocking to provide this to the man or woman on the street.

See www.bhsf.co.uk

the protection gap

News Review Be Wiser expansion ndover-based Be Wiser Insurance is on the expansion trail with confirmation of plans to open a brand new office in Swindon which is set to create up to 350 jobs in the next three years. Be Wiser Insurance currently employs more than 700 people at its headquarters in Hampshire and says the new facility in Swindon will be key to its ongoing expansion plans. The company has signed a lease on 10,000 sq ft of offices in York House at Edison Park and will open in approximately three months time once IT and fitting out works are complete. Financial director, Andrew Dunkerley, said: “We have known for some time that we needed to choose a new location for the future expansion and growth of the business and Swindon fits the bill perfectly.”

Andrew Dunkerley

In association with

Government welcomes measures to tackle fraud E conomic Secretary to the Treasury Harriett Baldwin and Minster of State for Justice Lord Faulks have welcomed a series of recommendations aimed at tackling insurance fraud, reducing costs and protecting the interests of honest consumers. The final recommendations of the Insurance Fraud Taskforce (IFT) will tackle fraudulent activity ranging from organised or premeditated crime to opportunistic fraud. The recommendations: Aim to improve consumer trust in the insurance sector and raise the public profile of insurance fraud as a criminal activity Encourage greater use of data sharing and collaboration between the insurance sector and regulatory bodies to better prevent organised insurance fraud Reflect and support the Government’s intentions to clamp down on unnecessary whiplash claims, which are a major source of fraud and strengthen regulation of claims management companies Speaking at a BIBA reception, Harriett Baldwin said, “A key part of our long term plan is to make sure that the insurance industry works for consumers. That’s why we launched the Insurance Fraud Taskforce in January 2015 to tackle insurance fraud.

“After a year of valuable research and ground-breaking dialogue, I welcome the recommendations that have been published today. “These recommendations will galvanise our collective efforts to tackle insurance fraud, and will ultimately reduce costs for consumers.” Justice Minister Lord Faulks added, “As the report notes, the Government has already brought forward significant reforms to the way in which claims are dealt with and we will continue to take more action to drive down premiums for hard working people.” The IFT noted that insurance fraud is not always recognised as criminal activity. It is therefore vital, it says, that the insurance sector takes steps to curb a culture of distrust towards the industry and a lack of popular understanding of how insurance works. For example, the IFT recommends making application and claims forms easier to understand and launching new anti-fraud campaigns. To ensure these goals are achieved, the IFT has also suggested that the government establishes a legacy vehicle to oversee the implementation of its recommendations, and maintain dialogue between different sectors regarding insurance fraud.

New property owners scheme from Ageas A geas has launched a new property owners scheme with Property Insurance Initiatives (Pii) Underwriting Agency which is available to buy-to-let property owners, head lessees and mortgagees who require insurance for residential and commercial tenanted premises in the UK. Pii Underwriting Agency will have delegated underwriting

news review

authority for the scheme, which provides buildings and contents insurance while the property is being let to tenants, with bespoke cover from Ageas. Cathy Taylor, head of commercial underwriting and operations at Ageas, says, “The buy-to-let market is on the up and Pii Underwriting Agency spotted an opportunity to capitalise on this sector with a new

scheme aimed at landlords. This is exactly how we like to work with brokers on schemes business – they have the market expertise, we have the underwriting skills and by working together we can swiftly maximise market opportunities. It’s very much a partnership approach and we look forward to working with Pii Underwriting Agency to make the scheme a success.” FEBRUARY 2016 insurancepeople 19

News Review New fleet products on PowerPlace O pen GI has announced the launch of Mini Fleet, a new commercial business line on to its imarket-integrated PowerPlace SME platform. Two new ﬂeet products will be available on PowerPlace SME, from AXA and RSA, with plans to further strengthen this business line during 2016. Commenting on the new product line launch, PowerPlace’s chief

Nick Giddings

executive officer, Nick Giddings, says, “The launch of Mini Fleet is a direct result of broker feedback and I’m delighted that we are now able to offer this new business line. It represents a significant milestone in PowerPlace’s advancement. With the speed and efficiencies that online trading delivers, Mini Fleet fits perfectly within our PowerPlace platform and will help to meet growing demand from our broker community as well as our insurers’ ambitions for online distribution.” RSA’s SME trading director, David Swigciski, adds, “We have worked closely together with PowerPlace on product development as well as sharing our knowledge and expertise to ensure the system is designed with the endcustomer in mind. Helping brokers and their customers succeed and grow is important to us, and we believe the release of our Mini Fleet product is further proof of our commitment to this goal.”

Chaucer to be branded as Zenith Marque M arkerstudy has announced that, from March 2016, Chaucer Insurance will be rebranded as Zenith Marque, sitting alongside Markerstudy Insurance and Zenith Insurance. The move follows Markerstudy’s acquisition of Chaucer’s UK motor business in July 2015, which extended the group’s GWP to in excess of £900m and swelled employee numbers by a further 430. Zenith Marque will continue to provide motor and commercial

20 insurancepeople FEBRUARY 2016

insurance solutions via a nationwide broker network. Anthony Foster, head of broker management, comments, “Zenith Marque will embody the Markerstudy principles of commitment to broker requirements and will ensure exemplary standards of customer service and care.” Group underwriting director, Gary Humphreys, adds “With over 50 years’ experience, Zenith Marque will retain Chaucer’s substantial legacy. Benefitting from group investment in technology and underwriting, and with a trusted intermediary development team at the fore, 2016 is the perfect year for us to make our Marque.”

Senior appointments at Ageas geas Insurance has announced a number of appointments, which are, says the company, “ … asserting its ambition to continue personal and commercial business lines success”. Following Adam Clarke’s recent appointment as managing director for Ageas Retail Direct, Niraj Shah will become underwriting director for Ageas Insurance, with Thomas Quirke moving into the role of chief actuary, both reporting to François-Xavier Boisseau, CEO Insurance. Niraj Shah is a fellow of the Institute of Actuaries and joined Ageas as chief actuary for the Insurance business in 2013, following the acquisition of Groupama in 2012. Thomas Quirke has been deputy chief actuary at Ageas Insurance since June 2015. Also a fellow of the Institute of Actuaries, previously he led Ageas’s motor actuarial team. In addition, Joel Markham will rejoin Ageas in the role of head of regional broker development, reporting to Chris Dobson, broker distribution director.He initially joined Ageas in 2010 as an account executive, and now returns to Ageas after a short time with Zurich.

Niraj Shah

news review

In association with

Principal acquires Bike Team rincipal Insurance has announced the acquisition of Bike Team from iGO4 Partners Ltd. The deal brings a book of 5,000 bike policyholders to the group, which also operates in the niche van, motor trade and classic, performance, kit and high performance car markets. iGO4 Partners has divested itself of its motorcycle arm in order to concentrate on its private motor, van and home insurance lines. “This is a very solid book which perfectly matches our market profile within the motorcycle niche,” says Principal’s chairman, Damian Keeling. “We believe that, in coming under the Principal

umbrella, BikeTeam policyholders will secure added value by virtue of our specialist expertise and strength of our relationships with the key insurers operating in this space. It’s a good deal for all.” The acquisition is the second to be completed by Principal in less than four months. In October the group announced that it had acquired Marsh’s Kendal-based specialist motor insurance broking business. Damian Keeling forecasts that, for the 2015-16 financial year, the group will secure further growth of around 60 percent, with API set to hit £8m. The group’s organic expansion is being fuelled by increased

Damian Keeling investment in marketing and technology, with its wider growth strategy set to continue with the acquisition of niche brokers and books.

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visit www.teninsurance.co.ukk for more informaation news review

FEBRUARY 2016 insurancepeople 21

News Review Be Wiser partners badminton league B e Wiser Insurance has become the official insurance partner of the AJ Bell National Badminton League for the remainder of the 2015/16 season. The AJ Bell NBL features Britain’s best players and top European talent competing in six franchise teams – Birmingham Lions, Loughborough Sport, MK Badminton, Surrey Smashers, Team Derby and University of Nottingham Badminton. Now in its second season, the AJ Bell NBL enjoyed success in its first year, as fans watched elite badminton played in a team format to new rules including shortened scoring, tie-breaks and double-

point ‘PowerPlays’ live every month on Sky Sports in the UK and on Eurosport in Asia and the Pacific region. Adrian Christy, Badminton England’s chief executive, says, “It’s fantastic that we can announce Be Wiser as the new official insurance partner of the AJ Bell NBL and particularly to welcome another new partner which is taking its first steps into badminton. “In November we announced a title partnership with leading investment platform provider AJ Bell, which demonstrates the growth of the league and its attraction to major sponsors.”

Fontaine Chapman in badminton action. (Photo: Alan Spink)

Covéa/Sterling open in Birmingham L ast month, the newly combined Covéa Insurance and Sterling team opened the doors to a newly refurbished, 3,000 sq ft regional ofﬁce at the heart of the underwriting market in Birmingham. The Birmingham team consists of 13 underwriters, who offer a multi- disciplined underwriting approach to a number of classes of business including; Commercial Combined, Motor Trade Combined, Motor Fleet, Commercial and Residential Property Owners, High Net Worth Household and Family Fleet. The team is headed by branch manager Wendy Travers, Haj Aujla, regional lead underwriter, and regional development managers Kirk Peattie and Derek Bradshaw.

22 insurancepeople FEBRUARY 2016

The new ofﬁce is equipped with extensive broker meeting facilities that will also support the broker training academy programme in Birmingham, which has been established by Sterling Insurance and which, as an integrated business, the company remains fully committed to. Keith Hector, director of regional operations for Covéa Insurance, comments, “This new ofﬁce is a clear

demonstration of our commitment to developing our regional proposition in the Midlands and with the potential to further increase the size of our team in the coming years. It is a major longterm investment in the Midlands region, and highlights our continued desire to engage with our broker partners on a regional and local basis.”

news review

In association with

CII appoints Sian Fisher as CEO ian Fisher ACII has been appointed as CEO of the Chartered Insurance Institute. She succeeds Dr Sandy Scott, who announced his retirement in March last year. Ms Fisher will take up her new post on 1 February. Sian Fisher has a rare breadth of experience in the business of insurance, having held senior roles in a Lloyd’s syndicate, a UK and European insurance company, a start-up intermediary, a market leading MGA, a major international broker and US corporate. She was a founder and original board director of the Managing General Agents’ Association and has held senior positions with both the CII and the Insurance Institute of London. She is a graduate of Oxford University with an Exec MBA from Harvard and is ACII qualiﬁed.

Sian Fisher Commenting on her appointment, she says, “ The CII has ﬂourished under Sandy. There has never been such a concerted effort from business, the regulators and society around conduct, ethics, talent development and social mobility. I am looking forward to getting out and meeting our members and corporate partners to discuss making the most of this opportunity. My immediate goal will be to maintain and broaden the momentum behind the professionalism agenda.”

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Formal integration of Sterling into Covéa O n 1st January Sterling Insurance was formally integrated into Covéa Insurance, and is no longer a separate trading entity. This follows High Court approval of the transfer granted on 11th December. The chief executive of Covéa Insurance, James Reader says, “Our vision is to create a stronger UK business capable of delivering long-term sustainable growth. I’m confident that the combined organisation provides a great platform from which to achieve this, to the benefit of our customers, business partners and people.” He adds, “The formal integration of Sterling Insurance into Covéa Insurance is the culmination of a major project across all areas of both businesses. It is testament to the professionalism and collaborative efforts of the combined teams that, alongside this huge piece of work, we were awarded Personal Lines Insurer of the Year at the recent Insurance Times Awards, secured top place for motor and home claims service from the Institute of

James Reader Customer Service in their benchmarking surveys, and have once again received the ‘Sunday Times Top 100 Best Companies To Work For’ accreditation for 2016. “Our priority now is to ensure that, as the practical work to integrate the businesses continues, we maintain our focus on delivering high-quality products for our broker partners and customers, supported by unrivalled service standards, as we look forward to our first trading year as a combined business.”

FCA statement on chief executive T he FCA has confirmed that the acting chief executive, Tracey McDermott, decided in early December to withdraw from the process to appoint the permanent chief executive of the FCA. The Treasury-led recruitment process is ongoing and Tracey McDermott will continue as acting chief executive until a permanent replacement is in post. She comments, “I have been at the FSA/FCA for 15 years and I remain extremely committed to,

and passionate about, the important work we do. It has been, and remains, a privilege to lead this organisation. However, going through the recruitment process has made me reflect on what I want to do with the rest of my career. As a result I have decided that this is not the right job for me at this stage of my career. This was a decision taken after many months of careful thought and was not one that I took lightly. ” FEBRUARY 2016 insurancepeople 23

News Review Covéa scores well for customer satisfaction C ovéa Insurance reports that it has achieved good service scores following a recent customer satisfaction survey carried out by The Institute of Customer Service. The survey was carried out as part of a process to renew the company’s ServiceMark accreditation for its motor claims operations, which it first secured in 2012. In the survey Covéa Insurance says that it “ ... excelled in all customer satisfaction categories, placing it significantly above both the insurance industry average and the UK customer

13% rise in motor premiums omprehensive car insurance premiums have continued to rise during the final quarter of 2015, with motorists now paying on average £78, or 13.2%, more than they were this time last year, according to the latest Confused.com car insurance price index in association with Willis Towers Watson. This represents a 6.9% quarterly increase (or £43) and the biggest annual rise recorded by the index since 2011. This latest increase means that the average premium for an annual comprehensive car insurance policy has now reached £672. The cost of TPFT policies has risen at a similar pace. Following on from three years of falling premiums, the last 18 months have seen a steady increase in comprehensive cover prices, with figures from the Price Index+ service showing monthly price increases recorded in eight of the last ten months of 2015.

24 insurancepeople FEBRUARY 2016

satisfaction average, when benchmarked against the UK Customer Satisfaction Index (UKCSI)”. The survey sought feedback on the experience received by Covéa Insurance motor claimants from the last 12 months, resulting in an overall customer satisfaction score. The insurer gained an overall customer satisfaction index score of 83.4 – against an industry average of 77.9, and a net promoter score (likelihood to refer) of 51.1, significantly above the UK insurance industry average of 12.6.

Profitability not sustainable P rofitability and business volumes across the insurance sector were strong between September and December but are not considered sustainable, according to the CBI/PwC Financial Services survey, released on 18 January. The survey says that the general insurance sector in particular, is pessimistic and expects an increase in the value of insurance claims, following December and January’s UK floods, which PwC estimates will cost the sector up to £1.4 bn. PwC says, “Brokers continue to see pressure on top line growth and as a result are focusing on improving margins and efficiency. Following a recent wave of consolidation within the sector, brokers are focusing on organic growth. Investment in brand and marketing is increasing as brokers respond to consistently high levels of competition in the sector, following recent M&A activity.”

General insurers are beginning to focus less on improving the efficiency of their systems and are now concentrating on expanding capacity and winning new customers. Technology spend will continue to increase, as will investment in staff, with significant growth in employee numbers growing expected to continue. Commenting on the outlook for insurance brokers Colin Graham, insurance partner at PwC, says, “Those who invest now in improving the efficiency of their systems will find themselves in a strong position over the next few years as competition remains intense. Brokers are finding competition tough in the sector following the wave of M&A, and investing in long-term brand identity and reputation is a priority for insurance brokers.”

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In association with

Businesses face changing risk landscape T he risk landscape for businesses is substantially changing in 2016. While businesses are less concerned about the impact of traditional industrial risks such as natural catastrophes or fire, they are increasingly worried about the impact of other disruptive events, fierce competition in their markets and cyber incidents. These are key findings of the Allianz Risk Barometer 2016, the fifth annual survey on corporate risks published by Allianz Global Corporate & Specialty (AGCS), which surveyed over 800 risk managers and insurance experts from more than 40 countries. According to the Allianz Risk Barometer business and supply chain interruption (BI) remains the top risk for businesses globally for the fourth year in succession. However, many companies are concerned that BI losses, which usually result from property damage, will increasingly be driven by cyberattacks, technical failure or geo-political instability as new “non-physical damage” causes of disruption. Meanwhile, two of the major

risers in this year’s Allianz Risk Barometer feature in the top three corporate risks for the first time with market developments ranking second and cyber incidents third. Cyber incidents are also cited as the most important long-term risk for companies in the next 10 years. In contrast, natural catastrophes drops two positions to fourth year-on-year, reflecting the fact that in 2015 losses from natural disasters reached their lowest level since 2009. “The corporate risk landscape is changing as many industrial sectors are undergoing a fundamental transformation,” says AGCS CEO Chris Fischer Hirs. “New technologies, increasing digitalisation and the ‘Internet of Things’ are changing customer behaviour, industrial operations and business models, bringing a wealth of opportunities, but also raising awareness of the need for an enterprise-wide response to new challenges. As insurers we need to work together with our corporate clients to help them to address these new realities in a comprehensive manner.”

Home insurance – 108% combined ratio expected eloitte says that, until December, 2015 was on track to be the eighth consecutive year that personal home insurance delivered profits, with the industry expected to report the best net combined ratio since 2011. Now, Deloitte estimates that insurers’ 2015 reported net combined ratio will be 108%, a 16 percentage point deterioration from 2014 (92%) due to the intense period of wet weather in December. James Rakow, insurance partner at Deloitte, says, "Although the scale of the claims costs from December's floods are similar to those seen two years ago, the timing is very different. The 2013/2014 winter claims were spread across two financial years and, in spite of the £650m claims cost, the home insurance industry reported profits in both 2013 and 2014. “There are still two months of winter weather to come and further flood warnings have been issued just this week. If January and February see significant flood and storm events, this winter could be the most costly for the home insurance industry since the winter of the Burns' Day storm in 1990."

Willis Towers Watson head awarded CBE R owan Douglas, head of Willis Towers Watson capital science and policy practice, has been made a CBE in the New Year Honours list, for services to rthe economy through risk, insurance and sustainable growth. He has been recognised for his inﬂuence promoting the role of re/insurance related capabilities to confront major social and economic issues. In recent years, his work has

news review

focused on the global challenge of resilience to natural catastrophes, climate risks and sustainable development through formal engagement in recent United Nations agreements and pending reforms to international ﬁnancial regulation and corporate risk disclosure. Most recently, in 2015, he was elected as the founding co-chair of the Insurance Development Forum. FEBRUARY 2016 insurancepeople 25

On the move LV=

Hannah Woolford

Allianz Allianz Commercial promote Hannah Woolford to distribution manager for Birmingham and the Midlands. She joined Allianz in 1998 and has worked across claims, commercial and engineering divisions, starting as a claims assistant she most recently was account development manager for engineering.

Mike Crane took over as managing director of LV= Broker in January 2016 having held the interim role of deputy managing director since July 2015, replacing Phil Bunker who moves to a non-executive advisory role. He joined in 2008 to establish and lead the commercial lines business. His replacement, Euros Jones, will be joining LV= Broker as its commercial director in Q1 2016.

Rebecca Bunyan

Websure Rebecca Bunyan joins Websure as group operating officer with over 20 yearsâ&#x20AC;&#x2122; experience in software delivery, transformational change management, operations and project & programme management. She joins from Hiscox where she spent seven years as head of IT. She has worked in the telecoms industry, financial services, management consultancy as well as insurance markets.

Adam Holberry

Hiscox

Nel Mooy

AXA Nel Mooy re-joins AXA following six years at Towergate Underwriting (where she was latterly CEO of personal underwriting) as head of travel for the intermediated and corporate partnership arm, reporting to Laurent Matras, MD of personal intermediary and corporate partners. She previously spent nine years at AXA as head of direct marketing and offer. 26 insurancepeople FEBRUARY 2016

Adam Holberry is appointed as Hiscox London Marketâ&#x20AC;&#x2122;s new head of alternative distribution. He joined in 2012 as a property and energy underwriter and prior to this worked at Axis Capital and Allied World Assurance Company/AWH syndicate 2232 on international property and MGA business. Nicola Marriage

Open GI Open GI appoints Rob Faulkner as head of insurer relations personal lines to lead existing insurer, MGA, and underwriter relations. He was previously at Thistle Insurance and prior to that held senior positions at Aviva, Brit Insurance, Allianz, and Towergate Underwriting. His career spans 20 years.

Markel Markel International appoints Nicola Marriage as senior underwriter within its trade credit division. From Novae, she worked there for eight years as class underwriter for credit and political risks. Previously, she worked at CIFS and Coface, having started her career as a graduate trainee at Euler Trade Indemnity.

appointments

Who’s going where? Jelf

esure

Marsh appoints Phil Barton to be CEO of Jelf in succession to Alex Alway, who becomes a non-executive director on the Marsh board. He joins Marsh’s UK & Ireland executive committee. With over 30 years' experience he has been CEO of Jelf’s Insurance business since 2010, having previously been head of compliance, group commercial director, and group marketing director. Prior to joining Jelf in 2003, he worked for AXA where he was the managing director (IFA sales) and Prudential, where he was sales director for national accounts.

David Meader joins esure Group as head of motor underwriting. With over twenty years’ experience he will work across both the esure and Sheila’s Wheels brands. He arrives from Direct Line where he spent the majority of his career in many underwriting and technical roles. Most recently he was head of motor underwriting for the various brands including Direct Line, Churchill and Privilege.

David Nichols

Zurich David Nichols is appointed by Zurich as UKGI chief operating ofﬁcer. He joined Zurich in 2004 from Aviva and most recently was interim managing director of personal lines and Endsleigh until November 2015 when he returned to his previous role as customer operations director.

Towers Watson Marcus Bowser joins Towers Watson as UK life sales and practice leader. With over 15 years’ experience in the life sector he held senior positions with Aviva, S&P and PwC and is also chair of the actuarial profession’s risk board. Paul Dreblow

TKM Tokio Marine Kiln appoints Paul Dreblow as head of corporate and commercial property in its London office. Based in the Singapore office since 2010 as regional underwriting director, he has over 23 years’ experience having joined the group in 2005. Prior to that he worked in Singapore for Swiss Re and Axa Re in London. Alex Dugand moves to TMK’s Singapore office to become the new regional underwriting director for Asia from his previous role as a reinsurance underwriter in London, where he has been based since joining the company in 2007.

appointments

Kate Banks

DAS DAS UK Group appoints Kate Banks as group director of HR and legal services. Joining from Brightside Group where she was group HR director, she began her HR career in 1994 with Tesco. She moved to AXA in 2001, rising to head of HR. Senior roles with rail firm Invensys and ING Direct followed before she joined Brightside in 2014.

Hood Andy Appleton

Bexhill Bexhill UK appoints Andy Appleton as sales director. His 28 years’ experience included the last 18 years in the premium finance market in senior sales positions with Close Brothers and Laser UK.

Affinity insurance provider Hood Group appoints Mark Allsopp as head of travel. He joins from AIG where he spent five years as UK travel manager. His career spans over 20 years and includes underwriting, marketing, product and programme management roles at AIG and previously, Aviva. FEBRUARY 2016 insurancepeople 27

On the move

Who’s going where?

ArgoGlobal

Diane Caplehorn

Fish Disability insurance specialist Fish Insurance recruits charity afﬁnity programme expert Diane Caplehorn to lead a drive into the third sector market. She was previously executive director of Arthur J Gallagher’s afﬁnity services operation, and has 15 years’ experience in this sector having been appointed by Heath Lambert to found and manage its charity solutions division where she latterly became executive director, the role she maintained when Heath Lambert was acquired by Gallagher in 2011.

ArgoGlobal appoints Ross MacDonald as deputy general liability class underwriter. With over 15 years’ underwriting and broking experience in the casualty market he joins from Zurich Global Corporate UK where he was team leader for casualty specialty lines. Prior to that he spent over a decade as a broker, culminating as a senior casualty broker at JLT. He began his career in 2000 as a graduate trainee at Marsh.

Sara Ager

Shaun Barrington

UIB International (re)insurance broker UIB Group appoints Shaun Barrington as its new chief executive officer. He joined in 2013 as head of non-marine & energy division. Prior to this he worked at Willis Group - including managing director of their North American property division based in London. Before joining Willis in 2001 he spent ten years working at Sedgwick/Marsh. Former CEO Philip Tuite Dalton will remain with UIB in a new role focusing on product opportunities.

EC3\Legal

Tim Brangwyn

Millstream Underwriting Specialty MGA Nexus Underwriting Management appoints Tim Brangwyn to the executive team at Millstream Underwriting as a director. He joins from RSA where he was sales director for the UK Southern regional markets. Prior to that he was a director at broker Sutton Winson for nine years responsible for their commercial division and the marketing activities. 28 insurancepeople FEBRUARY 2016

EC3\Legal appoints qualified lawyer Sara Ager as legal director commercial and governance. She joins from Pen Underwriting where she was latterly the director of governance and risk. Her 17 years’ experience includes both London and Lloyd’s market insurers, managing general agent businesses and law firms. She was a former claims counsel and claims manager at XL Catlin and corporate operations officer at Talbot Underwriting. Linda Granger

CFC Andrew Prendergast joins the corporate cyber underwriting team of specialist lines underwriting agency CFC from Aspen Insurance where he spent four years as a technology & cyber underwriter following seven years in broking roles at CJ Coleman and Heath Lambert.

Covéa Insurance Covéa Insurance appoints Linda Granger as household underwriting manager. Her 30 years’ experience includes the last 12 at Zurich. Prior to that she spent 18 years at CU/CGU/Norwich Union in a variety of broker facing and commercial underwriting roles.

appointments

by Andrew Newman

in association with:

The eccentric actuary who stood in a puddle on a rainswept platform - minus one shoe and sock – watching two trains depart. His briefcase on one, next stop Victoria; his overcoat on the other on its way to London Bridge; while his missing footwear rested among the live rails having failed to mind the gap On The Road - December 2015

By Request The December ‘On the Road’ attracted reader attention (see page 6) and this page is the result of verbal requests for a repeat for those who missed the original story. (TV stations do it all the time, so why not IP?). Plus, there’s a twist, and a ‘bonus track’ at the end ll credit for the original Off the Rails story which appeared in this column one year ago goes to our ‘Name and address supplied’ whistleblower. To protect the innocent we called our “lovable eccentric” ‘Rummy’

The process by which the mayhem summarised above came about would be hard to re-enact. Trains were highly disrupted that day. The one Rummy was on stopped unexpectedly at East Croydon. Passengers had to transfer to another train over the footbridge, and that’s when he left his overcoat behind. Then they were turfed out of that train back over the footbridge to wait on the platform – and he left his umbrella on that second train. A third train arrived - fully loaded - and Rummy, believing this was his, yanked open the door (slam door trains in that era) ejecting the unfortunate passenger who landed squarely on Rummy’s foot. His lightning reaction to the pain was to extract his foot with such force as to send his own shoe complete with sock skittering across the platform like a grounded Catherine Wheel to disappear down the proverbial gap between train and platform, and sending the flying ‘exiteer’ into an unexpected splits on the platform. omplete anonymity was preserved, but our whistleblower did invite his former colleague to get in touch. And he did! The irony is that while the now retired ‘Rummy’ expresses no concern about personal exposure, the whistle blower insists!

on the road

‘Rummy’ himself takes up the story:-

“

I agree this whole predicament would be hard to repeat. A rail employee did indeed fish my shoe from the live rails with a long wooden pole, and the guy who jumped prematurely from the incoming train landed right on my foot and did need medical assistance. I had nothing broken, but it still hurt! My sock was never found. I’m not sure I was actually waving my fists at the two departing trains as reported, but I do recall a degree of “helpless despair” as they vanished to their separate destinations with my possessions on board. Looking back, I don’t regard myself exactly as a facsimile of the late Patrick Moore or Basil Fawlty as described, but I can understand why some people may have thought of me as a “lovable eccentric”. I was highly focused on my job. I enjoyed every minute of it. I did have lots of energy and spent my commuting time thinking solely about work projects ahead. Of course that focus did lead to my becoming very familiar with various railway lost property depots, and yes I admit, I did often turn up in the office wearing odd socks, and once even odd shoes!

‘Bonus track’

”

During his commuting years our man tells me he and another passenger unknowingly exchanged overcoats from the luggage rack. With no need on this occasion to employ his season ticket at the lost property depot he could ‘deal direct’ thanks to a business card in his pocket. “The other guy rang me a few days later and sounded very nervous. He asked if I had looked in any of his pockets. Never one to beat around the bush I told him the ‘hot’ mag I discovered therein was very interesting! Needless to say our exchange took place with collars up, in one of the dark alleys around Bank.”

FEBRUARY 2016 insurancepeople 29

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