Insurance People July/August 2015 by Insurance People

insurancepeople issue 55 July/August 2015

Mark Cliff See page 8 Insurance People inside include:

Reg Brown

Simon Cooter

Allison Perkins

Elizabeth Holt

David Worsfold

Jane Middleton

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

POWERPLACE IS CHANGING

In today’s commercial lines insurance market, we recognise that all clients’ needs vary and that brokers require different solutions to meet these needs. This means that one single method of trading electronically will not suit all – this is why POWERPLACE IS CHANGING. 2015 heralds a new approach for PowerPlace, which will see us working differently with brokers and insurers to offer a fast and easy solution for all commercial lines business. To find out more about how our leading proposition can help your business grow, please contact your Account Manager or email our Broker Enablement team at brokerenablement@powerplace.co.uk

www.powerplace.co.uk

surance “The In with ne Magazi ity” Personal

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July/August 2015

The future is here! marriage made in heaven. That’s how the Covéa Sterling combination can be viewed, (see page 19). It’s an acquisition of course, but one totally dissimilar to many the market has witnessed over the years.

Editor and Publisher

Consultant Editor

Andrew Newman

Brian Susman

Commercial Director

Production Director

Jeni Hall

Adrian Susman

Editorial

Andrew Newman FCII, Dip.M andrewnewman@talk21.com 01892 730539 Design & Production

Adrian Susman adrian@insurancepeople.uk.com 07981 993974 Cover artwork: Carol Newman

In this issue

The two companies have so much in common. There’s no clash of business culture, and both are already highly customer orientated, as they need to be in today’s and tomorrow’s market place. And that’s no mere lip service of the kind regretfully still often heard – both firms possess a proven track record. Their products dovetail nicely, and any ‘best of breed’ overlap decisions look to be settled from the point of view of the customer. What a contrast that will be compared with other high profile mergers of the past when ‘best of breed’ exercises took months to complete, and ended up with such adverse consideration for the customer as to be labelled ‘best of greed’! The article on page 12 this month features Simon Cooter, the Covéa Insurance commercial lines & HNW director who explains his new role and his vision for the way forward.

Late news

Market talk

Interview Mark Cliff, Brightside

Commercial Director

Jeni Hall jeni@insurancepeople.uk.com 07969 510172

Ones that got away Janet Middleton, the Dowager Lady Middleton

www.insurancepeople.uk.com Printers

Pensord Magazines & Periodicals Tram Road, Pontllanfraith, Blackwood NP12 2YA

Elizabeth Holt, Holt PR

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

David Worsfold’s homeworking challenge? Cats and the family!

Elizabeth Holt unwraps the PR strategy

Simon Cooter Developments at Covéa

Reg Brown The Postcard Emporium

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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.

Public relations

News

On the move Who’s going where?

Simon Cooter and the new horizon

Reg Brown proves women have been wearing the trousers since 1915

On the Road The road to serendipity

JULY/AUGUST 2015 insurancepeople 1

Late News

insurancepeople

LV= optimistic about annuities espite the sharp decline in new business sales, and current fears for the future of annuities driven by recent pension reform, some industry providers confirm that consumers still remain interested in these products. Vanessa Owen, head of retirement proposition at LV= confirms that there is additional interest, and good potential for growth in fixed term annuities. “People like the idea of having some income secured - and a fixed term annuity can do that - with

the rest of their savings then invested. We are certainly seeing people mix-and-match, and that’s something we expect to continue into the future.”

he recent attention paid by the FCA to delegated authority arrangements has sparked increased market interest in the CII’s delegated authority examination (P66) according to CEO Dr Sandy Scott. “In light of the FCA’s

Sandy Scott

RSA to appeal €1.25m tribunal case SA will be seeking to overturn the employment tribunal award of €1.25m (£790,000) to the former head of RSA Irish operations Philip Smith, arising out of circumstances surrounding accounting issues that occurred in 2013. A press statement issued by RSA said, "We are extremely disappointed by the tribunal's decision and

fundamentally disagree with it. We are considering our options but intend to appeal the judgement." The tribunal heard that Philip Smith was paid around €600,000 a year at RSA, but only earned €25k from consultancy work after he was suspended in November 2013. He quit, and sued for constructive dismissal.

Self-pay private healthcare to oust PMI? Vanessa Owen

CII exam uptake prompted by FCA review

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thematic review our delegated authority examination has never been more relevant with current levels of interest suggesting examination entries will more than double this year. The sector is under increasing scrutiny from the regulator; customers; and government, and while much has been achieved over recent years in raising standards of professionalism, there is still much to be done. Candidates who study this unit can expect to be able to demonstrate an understanding of delegated underwriting authority from the perspective of all participants.

2 insurancepeople JULY/AUGUST 2015

new report – The Private Healthcare UK Self-Pay Market Study 2015 - highlights rapid growth in the self-pay private healthcare market, at the expense of personal and corporate PMI policies. The trend results from reduced confidence and access to the NHS; older patients abandoning rising premiums in PMI; and widely publicised restrictions on NHS funding for cancer drugs etc. The report is published by medical publishers Intuition Communication and follows a similar report published in 2013. CEO Keith Pollard believes the study should be a wakeup call for PMI

providers. “If this report tells us one thing, it’s that the traditional models of private medical insurance are simply not going to be sustainable in the future – either for corporate or personally paid policies. Insurers have yet to demonstrate real innovation in a way that delivers better value for consumers. What is very encouraging, however, is the positivity among healthcare providers about the current state and future potential of the self-pay market, with most expecting to see double-digit growth in the next three years. I look forward to repeating this report in a couple of years to see whether that is in the process of taking place.”

market talk

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Andrew Newman

pleasure of meeting an additional 220 people you never knew before.” This posit ive attitude has stuck with me for life.

Memories of Malcolm T

Following our move into Devonshire Square, I found myself in rather a remote area of the office, with Malcolm; my boss; and an exunderwriter who had come out of retir ement to work with us for a year on the wordi ng side. I suppose people may have looked at it as one female putting up with three old boys, but it was fabulous. I was well looked after . One Christmas, Malcolm decided that as boozing wasn't the number one crite rion, the four of us should have an alternativ e Christmas bash. So Malcolm drove us in his new Jag (of which he has very proud ) to the Savoy for afternoon tea and it was truly delightful.

he posthumous insurance memoirs of former Lloyd's man Malcolm Forbes-Wilson closed last month in these pages. His central theme – Who says insurance is boring? hit the nail of one of the market’s current conundrums right on the head. Never mind the apprenticeships, the career fast-tracking, and the other incentives. How about the sheer quality of a boredom-free working life among like-minded people, and the choices provided by a large percentage of fair-minded employers? And… yes… a bit of fun and humour along the way! mid-1990s when he I first met Malcolm in the ie Godwin side Lesl the from over transferred ain Colls berl Cham n of the shop to Nicholso Nicholson Leslie of part all then by (we were Group - NLG). e first few days What resonated within thos ty of this rosi gene and th was the warm what cheeky and wondrous man - albeit some naughty at times! of meeting Malcolm Within the first few days hday and treated he celebrated his 50th birt were around 30 of re (the nt rtme depa the whole in a pub local ion brat us) to a birthday cele ate. Malcolm told Aldg near e, Hous fort to Beau de this place me he had never been insi how come the bar before… but if that was true ? Comments well so him know to ed staff seem always is” olm Malc man ly like, “What a love the bag. of out cat the let er rath girl in my twenties Back then, I was a young charming and made so and Malcolm was always married, and I When . ease at so me feel ran up the office he n, ymoo returned from hone ng, “Welcome sayi with his arms flung open a wonderful to ome welc and y Rile back Mrs institution”. Square when NLG We all moved to Devonshire with Howden and g thin er did the whole merg ating the move for Bain Hogg. I was co-ordin for the three broking houses - around 250 International/North America ing I had only ider cons and all in le peop the previous for als vidu indi 30 worked with being on the ting daun e ten years it was quit new people. many so with 1 Day on line front words were, “Just In true Malcolm style his will have had the you ay Mond by that k thin

Here’s a few other things I remember:Having to tie Malcolm's shoe laces for him, and helping him on with his jacke t following his broken shoulder ski-i ng accident. (Actually this was one of the only times ever I saw Malcolm witho ut a tie)

l l

Five sugars in his tea The only man able to book a table at the George & Vulture, off Cornhill – they didn't allow reservations. We usual ly had liver & bacon (Malcolm always insis ted on a little extra bit of bacon & gravy ) followed by Welsh Rarebit... a bit of a tummy buster at lunchtime!

! Reversed Déjà vu at The George! - see page 28 l

Trying to kid me in a Chinese resta urant that frogs legs were chicken wings . (I really wasn't worried what they were, and who knows, they could have been anyth ing)

Being the first on the dance floor at the Christmas Party

Never grumpy

It was an honour to have worked, known , and shared time with Malcolm. I lost my own father a few weeks after Malcolm passe d away so I can understand from a family perspective what a great wrench this is. What a lovely man Malcolm was. Allison Perkins AIG

JULY/AUGUST 2015 insurancepeople 3

market talk Working from home

Home working needs discipline Hi Andrew with Neil I enjoyed your article chat e Five, June (Tak ing work Williams on home thing I have had 2015, page 14). That’s some ing Incisive Media to transition to since leav in August 2013. ned’ advice is I do think the ‘be discipli ng sure you hit maki and up ing Gett l. vita is important, even your desk in the morning lines pressing. dead if you haven’t got any point about being your with e agre I lly, Equa self with time your g rdin flexible and rewa to do it off. I think the trick is t into just having deliberately, and not drif a lazy day. and the family! My big challenges are cats it in turns to take to seem cats e thre Our especially in the , desk my on es park themselv settle down lly usua winter. Two of them sts on attention insi ys alwa one but tly quie and pencils and will start throwing pens e across the around or chasing the mous computer screen. s (two of whom As to my wife and daughter r 20s) they just thei in still live at home when they ask if don’t get the “working” bit particular day a on home from I am working a long list of into ch because they then laun . them for do d coul I gs thin

David Worsfold These days David Worsfold is a journalist, trainer, presenter, and media consultant. He was group editorial services director at Incisive Media from 2005 to 2013 and before that enjoyed 30 years’ experience as editor of Post Magazine, Reinsurance and David Worsfold Insurance Age. The winner of many awards, he wrote for The Guardian for several years and has contributed to most major national newspapers. He has appeared on radio and television commenting on insurance issues. His work with The Insurance Charities included being president and merging all the underlying legacy charities into a single organisation. From 2003 to 2013 he led a highly successful fundraising programme at Brentwood Cathedral which raised £500,000 to restore a historic listed church as a thriving parish hall. Our editorial paths first met in the late 1980s when David supported me as a part-time writer with regular articles in the aforementioned Post Mag. There are plenty of stories of broker empires being created on the kitchen table, but how about what later became a modest, people-related insurance mag being forged on a simple shelf, bracketed to the dining room wall using a BBC computer. Remember that?

Regards David Media Services Ltd David Worsfold, Worsfold

hen life coach Neil Williams and I exchanged views in print last month on the topic of home working (Take Five, June 2015, page 14) I must admit to some uncertainty as to exactly how relevant this might be. How many homeworkers are there in insurance?

It must be a minority, but feedback from the article suggests there are enough existing practitioners to produce some 4 insurancepeople JULY/AUGUST 2015

David Worsfold was the ideal editor to have. He didn’t dictate rigid outlines, but gave you a topic and left you to get on with it, trusting you to use your own style (within the house rules) and produce something good. meaningful comment, and perhaps, more surprisingly, an equal number of requests for more, from people who are about to commence working from home, or wish to do so. In his adjacent message David Worsfold highlights the ‘be disciplined’ aspects, particularly the task of hitting the desk in the morning. Indeed that’s usually the first question raised. The best squib under the backside I believe is to harness the

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fear of failure - of letting people down, missing deadlines and project completion dates. For most people, that’s all the incentive you need.

“Oh dear” dept

congratulations for

But going beyond that…? What time should the homeworker actually start work each morning? Does there have to be a set time? What about larks and owls syndrome? The feedback being gathered so far suggests it’s very much horses for courses. Some prefer a fairly rigid adherence to office nine-to-five, with a lunch break, while others set down no target time to reach the desk. They get there when ready to start work, but that can be anytime between 6am and noon, and varies between those extremes from day-to-day! Which brings us to the question of alarm clocks. I discarded mine immediately I began working from home, and have never missed it. OK, so I’ve used one in occasional fail-safe situations where oversleeping would be fatal, but I always wake up just before it’s due to go off. Whether that’s a good, or a bad thing medically I don’t know, but I reserve the right to think that being awoken from deep slumber by artificial means cannot be good for you. Let your body tell you what it wants you to do! That brings us back to the ‘be disciplined’ question again. Others find the alarm clock an ideal motivator, and that is really the point. Home working offers the wonderful freedom of choice for the individual to pursue the work programme that best suits them. It’s all about getting the best work done – not how it is done.

Working 24/7

shee

nference” “Quote of the Co

“ ” words – a est ever. Just two Probably the short ssed by panel pre ex ar” ive, “Oh de sarcastically plaint r questioner ke bro y Paxman to a ed that debate host Jerem ern conc e who appeared from the audienc adapt to so to g vin ha es elv thems brokers had found recent years. much change in

ne of my post-BIBA domestic tasks on return home from Manchester was to resupply my fix of this summer’s asparagus crop. But the local farm market stall was bare – and the custodian was engaged in battle with her new supplier who had obviously underestimated the quantity his new customer could shift. “I’ve never supplied the number you need before, and I’m having to adapt to that,” pleaded the new supplier. “It’s hard work,

d’

and it’s causing me a lot of worry. I don’t know whether I’m on my head or my heels.”

That was the moment when Jeremy Paxman’s “Quote of the Conference” drifted into my mind with the magic words voiced by the BIBA panel debate host with his sarcastic, mock-sympathetic “Oh dear,” which on that occasion was aimed at brokers worried about all the recent market changes to which they have been forced to adapt.

No home worker actually works throughout 24 hours. They may be ‘available’ during those hours, but everyone has to sleep sometime. But what about the ‘7’ in 24/7? Do homeworkers carry on at weekends? It will be interesting to find out over the coming weeks. For myself, the weekend has one particular reward that proves priceless for the editorial hack facing a regular deadline – it’s like having a ‘pause’ button! It stops time. The insurance world that I move in comes to a halt on Friday night, so every bit of work completed between then and Sunday evening offers a marvellous opportunity to catch up! No phone, no email, no callers, no interruptions. And yes… today is Sunday.

JULY/AUGUST 2015 insurancepeople 5

market talk

Don’t let customers walk away “Putting brokers back in control”

Why let leads slip away? eads mean money! One of the unsung revolutions created in UK intermediated business has been the transfer of customer leads. Business unattractive to one supplier could well be meat and drink to another.

Yet it seems some brokers still allow customer enquirers to walk away if their risk profile doesn’t fit. This assumption is, I admit, based on personal experiences related to me by disappointed buyers in social conversation. Knowing of my association with insurance, I often find myself forced into uttering the immortal words, “Find an insurance broker,” when cornered by say, a van owner who does a bit of courier work to France. And - more than once I’m sorry to say – they report

back having been sent packing with a “we don’t handle that sort of business” response. What’s going on? Have these brokers never heard of wholesaling facilities? Relating this frustration to Paul O'Gorman, group director at Quoteline Direct (part of the Wilsons Insurance Group established in 1969) he confirmed that the “Don't let your customers insure elsewhere!” plea has become part of their daily bread. “Our wholesale van insurance facility - Quoteline Direct Wholesale – could easily cater for the van risk you mention, and competitively too. It doesn’t matter if it’s the vehicle, the usage, or the proposer that creates the non-standard aspect. We can help. In fact

we aim to quote on all risks that we receive. Some policies are reservable online immediately, and the more complex ones requiring bespoke underwriting will receive a quick response with guaranteed terms. “The van enquiry you steered towards the broker market obviously reached the respective brokers’ doorsteps out of the blue, but could have equally arrived as a one-off enquiry from an existing client. That scenario places an entirely new threat, because being unable to place the risk, there’s a good chance whichever provider finds a suitable home for it could then poach all that client’s other business. As a nonstandard specialist

wholesaler, part of our service to the broker is to make sure they can slam the door to that threat. “No broker today has any need to struggle to place a commercial van risk. Even if the broker only deals with van insurance as accommodation business, or doesn’t possess suitably experienced staff to handle it. There’s generous commission available, and the broker can continue to deal with his customer if he wishes and pay on account. We encourage all brokers in this situation to apply to us for an agency.”

See www.quotelinedirectwholesale.co.uk

A new player in premium finance T

he banking crisis forced premium finance under cover, so the arrival of a new player is timely. I spoke with CEO Bundeep Singh Rangar at PremFina about the “disruptive potential” of his new approach. “We truly believe this is what insurance brokers have been waiting for. PremFina is what premium finance ought to be - a tool of convenience for insurance customers,

and a tool of empowerment for insurance brokers. We aim to put brokers back in

Bundeep Singh Rangar

6 insurancepeople JULY/AUGUST 2015

control of managing premium finance.” But what about that “disruptive potential” that non-IT people (like me) tend to find confusing. “Disruptive potential refers to the ability of a new proposition to disrupt the status quo,” explains Bundeep. “This is a positive reference whereby innovative products challenge the staid offerings of incumbent industry players to ultimately benefit consumers.

“The market needs something beyond inflexible software that is not easy to change and reconfigure for everchanging and evolving business requirements. What brokers need is a customer-centric offering so they can manage their customer processes, rather than having to manage their software.” This is a space brokers will inevitably be watching.

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Stewart Jenkinson retires porting networking events organised by Be Wiser Insurance always seem to attract the best weather, and racing at Newbury in June was no exception. On that occasion it was my pleasure to meet Stewart Jenkinson who retired from Be Wiser earlier this year.

Like practically everyone I meet, insurance wasn’t on his career agenda when he started out in 1968.

“

In 1968 my law tutor recommended me to the York office of Royal Insurance. The interview comprised a week working in the office, and I was offered a job at the end. There was a two-year training period, working in every department, and I chose to specialise in claims at the Royal’s Hull office. I subsequently moved to Northampton as a claims inspector. The Royal gave me an excellent grounding in insurance, but working for a big organisation was not without (what the Editor has often referred to as) ‘corporate treacle’. In my case it was the introduction of job evaluation. Apparently I was already paid higher than the assigned grade and my assertion that this was because I was clearly worth more fell on deaf ears. The system was the system and could not be varied. resigned on the spot. I’d hardly returned to my desk when a lunch invitation from the MD of a local broker arrived. The insurance ‘bush telegraph’ had operated extremely efficiently that day! The lunch was good, the offer amazing, and so in 1972 I moved to Wellingborough-based Harry Adams and Co.

In 1978 I joined Eclipse Motor Policies at Lloyd’s in Basingstoke. The second person I met there was a certain Mark Bower-Dyke [now chairman of Be Wiser] who became my friend and remains so to this day. I was promoted to claims inspector and thoroughly enjoyed my time in claims, in particular visiting claimant’s solicitors and negotiating settlement of their client’s claim. complete career change came about in 1982 when I was offered the chance to change direction and work at Lloyd’s with the motor fleet underwriters. I was somewhat sceptical that this would be for me, but I took the opportunity to try it, and found that I loved it once I began to understand the ‘black art’ of underwriting.

This was another steep learning curve and I eventually took over as the fleet underwriter for Eclipse, subsequently moving on to Torch and later Holdsure. When Berkshire Hathaway bought the book of business and traded as BHIIL t/a Holdsure it was no longer a Lloyd’s syndicate – Holdsure was Stewart Jenkinson now a insurance company. When this happened only half a dozen staff in Northern Ireland remained and it was arranged that I relocate with Link Motor Policies in Maidstone and they would carry out all our administrative tasks. It was a privilege to work with George Higginson, the Link Underwriter, and his staff and the arrangement ran pretty smoothly until 2002 when all operations were taken back in-house, and we relocated to the London offices of Berkshire Hathaway. Berkshire Hathaway is a great company to work for. Their underwriting ethos is, in my opinion, the correct one. They price for profit and will not chase rates down. They have a saying, “The market price tells us how much business we will write at our price – it does not tell us what our price should be.” After 32 years’ commuting, mostly to London (other than the three-year car commute to Maidstone), I decided I’d served my time. Mark Bower-Dyke offered me a position in the Be Wiser training department which I readily accepted. The fact that my commute to work was now a four minute walk was a huge attraction, as well as the chance to work with youngsters joining the industry. I therefore joined Be Wiser in 2013 and thoroughly enjoyed working in a training environment. Throughout my insurance career I have not encountered any company that puts as much effort and resource into training their staff.

”

JULY/AUGUST 2015 insurancepeople 7

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We now pronounce you...

The great majority of the luminaries in today’s insurance world will tell you that insurance wasn’t necessarily on their radar when seeking out that first door of opportunity towards their subsequent insurance career path. But once on board, they not only survived the ordeal, but thrived on the opportunities. Result: A marriage for life. Wedded bliss. For better or worse. In association with Markerstudy Group, Insurance People presents another in this series of interviews featuring some of the insurance people happy to have pledged their troth to the insurance industry

Mark Cliff Executive Chairman, Brightside

Looking on the Brightside In November 2014 the world learnt that Mark Cliff would be leaving Ageas to take up the role of Executive Chairman at Brightside. In this conversation with the Editor, the challenge of making that decision forms the first question to be raised

AN: How tough was that decision to leave Ageas after everything you had achieved there? MC: The decision was really tough. I thoroughly loved my time at Ageas on the insurance side, working with Barry Smith and Andy Watson and I feel very proud that we built something very special. But I had always explained when I joined that if the opportunity came for me to build something again almost from scratch, that would appeal to me. And that opportunity came along, and my colleagues already knew this was an opportunity I couldn’t walk past. I’d always made that clear, so it was all very amicable. And I’m delighted that Ant Middle has taken on the role that I left behind. 8 insurancepeople JULY/AUGUST 2015

AN: And so to Brightside. Rebranded earlier this year, with bold plans to build its own insurance portfolio, rather than just acting as an umbrella for its other brands, it sounds like you and the team are going to be very busy. MC: Brightside is an exciting opportunity. It’s a challenge. There’s a lot of ambition there - supported by AnaCap Financial Partners who sit behind us - to create a UK Top Ten broker. We’re 20th at the moment, but there’s a real desire to build a business, predominantly personal lines but also commercial vehicle. We’ll be building within the existing Brightside model, but new acquisitions will give us momentum and capability. And that’s exciting. I will be working with bright, highly

driven people such as Andrew Wallin as the CEO and Des O'Connor as Chief Commercial Officer, making me the old man of the team. AN: Looking back at your time with Axa and Fortis/Ageas you’ve always been a champion for customer service, so I guess that will be one of your major differentiators? MC: I’ve always been passionate about the customer having to be at the heart of everything we do. We have here a chance to build a model that will hopefully differentiate us in the market. Brightside has lots of opportunities, with plenty of niche elements to the business that we have great hopes for in the future. I know the insurers, and the different players in the market, so I can hopefully bring

AN: How did you first get together with Markerstudy to do business? And how do you cope with the Markerstudy ‘never a dull moment’ style?

that experience to help promote success for everyone involved. AN: The industry still has a bit of a way to go on the customer service front. To which specific areas do you think the insurance sector needs to pay particular attention? MC: I still feel there are elements where we make it difficult for the customer. I think we need to step back and relook at our processes even further, and reconsider changes in customer behaviour. People today are relatively time-poor, and we have to make it easier for them to solve their worries, not just in office hours but outside that period too, with the ability to self serve through 24 hours, especially in the event of claims. There is more that the market can do. I’m concerned that some organisations discourage customer contact, rather than encouraging it. Look at automated tills in supermarkets. I don’t know anybody who likes that. People still thrive on talking to people, and being involved in a one-to-one relationship even if it is online or via Skype or face time. AN: I believe that meaningful fraud prevention is another of your pet market topics? MC: The industry must eliminate fraud as a major factor in our business. We must ensure it is always in the forefront of the processes that allow fraud to be detected at every level, from the opportunistic claim exaggeration to criminal activity. We must distinguish between the various levels and make sure we deal with them appropriately. We have to keep a focus on fraud because inevitably it will never go away, and we have to become more sophisticated in dealing with it. AN: The two factors you feel strongly about – customer service and fraud detection – have a bizarre correlation,

MC: Markerstudy was, and is an important partner at both Ageas and Brightside. But my association goes back beyond that. Certainly a largerthan-life character, I’ve known Kevin Spencer for a number of years. I remember a particular occasion – in fact, it was at a Brightside cocktail party! – when Kevin accused me of dressing rather dourly, and two days later there in the post was a striped ‘Kevin’ shirt that I still have, and wear. That’s the sort of guy he is. I got to know Gary Humphreys when I became involved with Ageas Retail. The great thing about Kevin and Gary is their yin and yang nature. Opposites in some skills, but very complementary when added together. Gary is very practical – that’s why he is the underwriting director, and Kevin is often up in the stratosphere giving everyone a lift. And of course with Martyn Holman now there as well it’s easy to see why there’s a lot of fun between them. But while all that fun is going on, they are very professional. They have built a proficient team around them and have become a complete success story as a business. They move quickly. They are agile and they believe – as I do – in relationships. And in many cases those relationships go back a long time. There’s a loyalty there, and that factor naturally stretches into the business. For example, it’s the only place I know where I - and others - get invited to join in their staff events, basically saying, “We’re doing this for our people – come and join us”. I don’t believe there’s anyone else doing that at the same level. It’s a tremendous way to create spirit. Markerstudy staff enjoy working there, and that shines through in what they do, and how they do it. And of course it helps to create the longevity of relationships. That’s important at this moment in time when many big organisations have found their own existence severed by new ownership or management changes. The endurance of relationships is crucial in today’s business. I believed in that when I was at Ageas Retail, and I know Kevin and Gary do so too. There are no revolving doors at Markerstudy.

don’t they? How do you tackle fraud without hassling the honest policyholder majority? MC: Exactly. I think in the early days it went too far. You can’t make ordinary customers feel they are prospective criminals. The balance is now far better, and today’s data allows us to avoid this danger with more discretion. AN: Tell me more about your involvement with BIBA and the CII. MC: I am deputy chairman of BIBA’s Large Broker Advisory Board. This role offers me a good opportunity to influence policies within BIBA, and I think Steve White and Graham Trudgill are doing a very good job.

I’m also vice-president of the CII and am particularly involved in education. I support the idea of encouraging people to become qualified and to look to extend their skills and knowledge. AN: So, in a nutshell Mark, you are a fully paid-up member of the ‘insurance people’ fraternity? MC: I am passionate about people. My career has been built around building long-term relationships, and as a result I have some great friends around the industry. I believe in talking to people, rather than emailing them. Some may view that as old fashioned but I don’t think that has done me any harm in my career. JULY/AUGUST 2015 insurancepeople 9

“The ones that got away” After an early Spring break, this column takes an alternative glance at a person who wasn’t a former insurance person who left for wider fame elsewhere. Nor someone who “came in from the cold” to the business later – unless of course you regard being a Lloyd's Name falling into that category. This titled lady is famed for sinking her teeth into one of the pillars of the insurance establishment and refusing to let go!

The Dowager Lady Middleton December 1925 - April 2015 anet Middleton was a victim of losses racked up in the late 1970s on dubious business placed on Lloyd's Syndicate 762 along with 109 equally unfortunate Lloyd's Names.

In 1980 she took up arms on behalf of the those other Names when Lloyd's issued writs to recover the £21m loss. Lloyd’s lost the case in court and had to raise a levy to cover the majority of the loss, leaving the Names to find about £80k each. Lady Middleton became chairman of a newly founded Association of External Members of Lloyd’s and among other things argued that agencies which managed syndicates should not be owned by broking firms with conflicting interests. Doubts were expressed among the main body of 20,000 Names that her group was not representative of the majority. One phrase at the time was, “Those who cannot stomach the risks should not be in the market”, but one broker who took her side, Malcolm Pearson (later the politician Lord Pearson of Rannoch) said, “She is a brave and honourable woman, and if it is humble enough to listen to her, she will do Lloyd’s nothing but good.” l Janet Denyse Cornwall was born in London. Her father was an army major at the time of her birth, but later became a general and hyphenated his name to Marshall-Cornwall 10 insurancepeople JULY/AUGUST 2015

when he inherited a Scottish estate from a Marshall relation. Much of her childhood was spent abroad, including Shanghai and Berlin. Marshall-Cornwall became deputy director of MI6 in 1943 and his 19 year old daughter joined as a secretary. On one late night shift, handling incoming telegrams alone, traitor and future defector Kim Philby walked in. He sent her out of the room on an errand, leaving hindsight to pose the question as to which message or messages he had come to intercept. She married Michael Willoughby in 1947, who succeeded his father as the 12th Lord Middleton in 1970 to become a Conservative peer.

In a strange editorial twist of fate, the late 1970s’ Lloyd's Syndicate 762 and its notorious underwriter F H Sasse has been infiltrating recent IP pages. But not only that, indirectly this man was responsible for the Editor’s self-imposed photograhic pub crawl around the alleys near Lloyd's, trying to retrace the rogue underwriter’s footsteps, as related on page 28 at the end of this issue. There was no editorial masterplan to this effect – it just happens that several strands of the so called ‘Lloyd's Sasse Affair’ arrived from different directions at the same time.

marketing

Preparing a PR strategy

A PR strategy underpins a communications campaign. Elizabeth Holt explains how this strategy directs the tactics and messaging involved in the execution of a campaign hen preparing a PR strategy it is essential to determine who the ultimate customer is. What you want to say to that customer, and the aim of the campaign.

All communications must hit the desired audiences with the most relevant messages - a one-size-fitsall approach never works. The communications must simultaneously address current business issues and future business aspirations. The fundamentals should be clear. This is what we do; this is why we do it; this is why we have an opinion; this is why we are different; this is why it matters. A good PR strategy depends on quality research, and knowledge of your media. Few businesses undertake research into their

competitors, but such knowledge can influence your own strategy. The best tactics require robust implementation. Be prepared to use a variety, and adapt to suit the particular interests of different audiences. Bring the full armoury of media outlets into play. Ten years ago, the humble press release was the main route to market, but today’s communicators are aware of the pros and cons of social media, and digital outlets as well as traditional print and broadcast communications. he issues remain the same whether for high street brokers or global reinsurers – how do we tell the people that matter to us what we want to say? How do we engage their interest?

Stay topical. Say what you want to say, but be mindful that PR is not

Elizabeth Holt HOLT PUBLIC RELATIONS

advertising and it must not be a blatant attempt to ‘sell’. Recent communications could have referenced the general election, for instance. Polls and research are always good media tools because they offer fresh insight. Insurers and brokers must look for new angles so they can command media voice. Always consider your audience, what you want to communicate, and what it is that your campaign is trying to achieve. The PR strategy is the engine powering your campaign. The best PR strategy is robust, considered and thoughtful. With powerful implementation, it will reflect business excellence and deliver bottom line results. Contact: eholt@holtpr.com

Commercial Express launch Training Academy Book Now! This ‘new initiative’ is an industry-leading training scheme which will travel the country visiting agents. The Academy is for existing agents who currently work with Commercial Express, and prospective agents who are new to their way of working.

What will I learn? • Knowledge of Commercial Express products and online system • Underwriting rules, new skills and best practices; all of which are designed to help you sell • Contributes towards your professional development (CPD) requirements The Academy is a mobile training facility, and each course delivered is tailored specially to individual needs. The course is free of charge. For more information about the training Academy visit

www.commercialexpress.co.uk

JULY/AUGUST 2015 insurancepeople 11

interview

Simon Cooter COMMERCIAL LINES & HNW DIRECTOR COVÉA INSURANCE

When like minds collide The Editor visits Covéa Insurance in Reading to find out more about the Sterling integration, and Simon Cooter’s new role and vision for the way forward for the new teams AN: Things don’t always run entirely smoothly when two well-established insurers get together, but the Covéa Insurance Sterling arrangement doesn’t seem to have caused much market speculation. SC: That’s probably because the businesses are so complementary. Both companies already possess a similar business culture, and in particular the same strong customer focus. That similarity will make it a lot easier for the two teams to come together, and move forward with the same goals and I think most of our partner brokers recognise this. AN: So is it business as usual, or are there changes on the horizon? SC: In the short term both companies will continue to serve their respective broker and customer bases, but moving forward, we’ll be working together as one team, with the aim of always offering brokers a proposition that is at least as good as they had yesterday, but increasingly finding ways to offer something more. A perfect example is the new HNW family fleet product that’s currently being developed, and is due to be piloted this summer. It’s a joint project that uses the strengths of each business to create a new market opportunity, broadening what we are able to offer our high and mid net worth customers. 12 insurancepeople JULY/AUGUST 2015

Our priority will remain on high-end service, and we will continue to listen carefully to our partner brokers to ensure that we continue to meet and exceed their needs and expectations. We will keep offices in all our current locations, and anticipate that we’ll be recruiting more. This is because our focus is not solely on cost. It’s based on long term profitable growth and that can only be achieved by putting our broker partners’ needs first, and continuing to invest in what we will always stand for - service. AN: Will there have to be a product ‘best of breed’ pruning? And if so, will the choices consider the customer perspective? SC: ‘Best of breed’ exercises can sometimes leave the customer disadvantaged. Our aim is to avoid that. We want to make sure that, as a minimum, customers and brokers will be offered the same as they always had, and in most cases they will have more. Sterling has a gilt-edged reputation that we’re keen to preserve, so brokers won’t be seeing any decisions to the detriment of this. But in reality, both companies have been developing products that are designed to be ‘high end’ in terms of wording and cover, examples being the new Covéa Insurance Real Estate product and the Sterling Executive product range.

The direction of travel is clear; we believe that we will win and retain more business if our products and service stand out against the competition, which means building on, and investing in, the best we have today. AN: Experience suggests that shareholders and high level decisionmakers don’t always buy into the customer centric approach you describe, while at the other end of the business hierarchy staff in the frontline, facing customers, are not always brought into the loop. SC: That may be true elsewhere, but perhaps that is in companies where the decision makers are - how can I put this? - removed from the front line, and perhaps don’t really understand customer needs, and the fact that they have choice. The kind of customer focus we’re talking about is driven from the top and it reaches right through the organisation; it is consistent with our values as a mutual organisation. The important thing is that whether you are talking to a claims professional in West Malling, or an underwriter in Glasgow, the same principles are important; we all need to be singing the same tune. We’ve made significant investments in customer service, and in particular claims service, with independent recognition by the Institute of

“

Always listen to brokers and customers

Customer Service that bear this out, as well as a plethora of award wins for the claims teams of both Sterling and Covéa Insurance over the last year. Andrew, you’ve spent time with us today, seeing many people in private session. What do you think? Are we singing the same tune? AN: Well, yes I must confirm that has proved to be the case. And to be honest I find it very refreshing when thinking back to times not that long ago when that harmony was an extreme rarity. In fact, I am still asked to carry out the occasional interview when the person I’m talking with has to have a commissar sitting adjacent to vet what they say. Paranoia City! But let’s get back. So apart from customer service, what other market changes are impacting on business culture? SC: Put simply, it’s recognising that investment in people is vital if we are to get things right consistently for our customers. This means creating the right environment in which people can flourish and develop, having an open and honest approach and making work an enjoyable place to be for all of us. AN: But what happens when things go wrong? SC: Inevitably things can sometimes go wrong, but the rule is to learn from mistakes and put them right very quickly. There’s no ‘blame’ culture here. AN: It sounds as if it’s a busy time ahead for all? SC: Busy, exciting and rewarding, we hope, for all. The joining together of Covéa Insurance and Sterling is a massive opportunity for everyone

“

All singing the same tune

” involved, including our broker partners. It really is exciting. And it’s very logical to stay on the same path both companies have created – finding ways to be more than the sum of our parts.

”

We will be taking our time – there’s no rush. The key is to always listen to our brokers and customers and continue to deliver and expand upon the high end products, people and service that we are already renowned for.

Return to Norman Place June 2015 It was a pleasure to revisit Covéa Insurance in Reading, plus the freedom to roam around the offices meeting many (new to me) people. Tim Grant, Senior Manager Small Business, was just off to participate in a 24-hour relay charity run – see page 25. He heads up the team that will be re-launching the Covéa Insurance small business e-trade proposition over the next 12 months. Steve Jackson, Head of Financial Crime shared with me some interesting views on how the industry fraud initiatives are faring, and a few insights into the activities of some... well yes, ‘rogue’ claims management ‘claims creators’. Marketing Co-ordinator Kirsty Plank had just returned from jury duty – by no means a chore since she recently completed an Open University degree in criminology undertaken while she was working for Covéa Insurance. Karyn Strickland, Senior HR Partner is helping to make insurance a more appealing industry to work in. HR Advisor Alexandra Hamilton is involved in the Covéa Insurance graduate and apprentice programme and introduced me to Sam Hayward, a graduate trainee in commercial underwriting, undergoing a round-robin tour in individual departments. It was pleasing to hear that the tour was going according to timetable. (I never enjoyed that honour. Either the current team wouldn’t let you go due to some crisis, or the new one wasn’t ready to receive you). Talking with such individuals in relaxed session was the real pleasure – and yes… referring back to Simon Cooter’s ‘all singing with one voice’ comment, that’s exactly how it was. There were plenty of good quotes… if I had to choose one, it would be Karyn Strickland when she said her aim was to make HR the total opposite of what it used to be when it was the oldstyle personnel department! Amen! The Editor JULY/AUGUST 2015 insurancepeople 13

“ The lady window cleaners of Nottingham” A very poignant 1915 postcard this month from the Reg Brown collection and it’s raison d’être for being on this page is solely because the photo was taken outside the Ocean Accident and Guarantee Corporation office in Nottingham.

Posted one hundred years ago, it’s a bookmark that captures a moment in history. The First World War is into its second year. Signaller Stewart Young is in France in the 1/7 Robin Hoods battalion of the local Nottingham regiment – the Sherwood Foresters – while Rose (his sister?) relates the latest tidings from the home front back in Nottingham. It’s very cold; the recruiting sergeant is coming for Stan (a sibling?); but the real shock is the sight of women wearing trousers! One hundred years after the event it’s difﬁcult to imagine why in the middle of a horrendous war - the simple act of women donning work clothes previously associated with men was so shocking. Trouser-wearing by women was not widely adopted until the late 1920s. But in 1915, trousers were an exclusively male garment, and even in sport Edwardian ladies apparently preferred to tie their long skirts around their ankles. Try climbing a ladder like that!

Tidied up it reads:Dear Stewart, How do you like this postcard. Rather nutty, eh? But I suppose they have discarded their trousers now as warehouse girls shout after them so. We are having nice weather but very cold. Shall be pleased when you get your leave. It is Saturday afternoon and we are expecting the recruiting sergeant after Stan.

A fellow Nottingham-born ‘Robin Hood’ - like Stewart Young - at the time this card was posted was Albert Ball who had just transferred from the Sherwood Foresters and learned to ﬂy with the Royal Flying Corps. He went on to become the country’s highest scoring ﬁghter pilot up to the time of his death in 1917 and won a posthumous Victoria Cross.

Hope you are quite well Love from Rose

The Reg Brown collection also contains this second card which tends to reinforce the tremendous social signiﬁcance of women wearing the trousers 14 insurancepeople JULY/AUGUST 2015

In association with

insurancepeople

News

Importance of good online reputation underlined urich's SME Risk Index shows that the overwhelming majority (77%) of SMEs consider having a good online reputation as important to their business, yet 40% never check online reviews of their company. Around 15% of SMEs have already experienced some form of negative comment online, whether that be poor reviews, malicious content from competitors or negative

media coverage. Additionally, more than one in five (21%) of SME decision makers say that their business has been contacted online by someone who they thought was trying to scam the company. Almost 1 in 10 (9%) already pay someone to manage their online reputation, with a further 9% expecting to do so in the next 12 months. The research shows how

seriously some firms take this emerging threat as 12% of those who are paying a third party to manage their reputation online pay £2,000 or more a month. Richard Coleman, managing director of Zurich’s commercial broker business, comments, “Online reputation is an increasing worry for SMEs, many of whom are only just getting to grips

with managing a social media presence and a website, let alone the effects of negative content posted about their company. “In a world where the consumer is increasingly guided by what they can easily find out online – think about review sites such as Tripadvisor and Trustatrader - SMEs need to get to grips with their own online presence and how to manage it.”

Increase in workplace deafness claims he Institute and Faculty of Actuaries (IFoA) has welcomed the report on Noise Induced Hearing Loss Claims, published by the Association of British Insurers), which confirms previous findings by the IFoA Deafness Working Party. That report found that between 2010 and 2013 claim notifications tripled from 27,600 to 85,800. Research by the IFoA suggests that the existing

claims system does not appear to be designed to accommodate the complexity of current deafness claims, which can involve multiple defendants and therefore multiple insurers. As a result of the complexity, it currently takes around 17 months to settle a typical deafness claim. The IFoA research suggests a number of areas that should be explored in order to improve these

timings, such as: a simpler deafness claims process;development of an agreed objective standardised test to assess deafness; establish a panel of independent hearing loss experts; the potential for the Claims Portal to deal with multi-defendant claims; and the introduction of fixed legal fees for industrial deafness claims similar to personal injury motor claims.

Euler Hermes CEO job swap rade credit insurer Euler Hermes has initiated a senior executive development programme in which six CEOs from the company’s northern Europe region, including the UK, exchanged day-to-day responsibilities for one week. The CEOs - from Belgium, The Netherlands, The Nordics, Poland,

Russia and the UK – undertook joint meetings to understand their host business beforehand, then attended business meetings, contributed to daily decisions and met brokers, clients and local team members during the visit. After the exchange they shared their impressions, discussed learnings, and identified

how to implement best practice transfers at home and in their host business. “We created the northern Europe region job swap programme to enable our executives to gain a better understanding of the different markets in their region, exchange best practices, foster innovation and enhance customer service,” said Ludovic

Senecaut, CEO, Euler Hermes Northern Europe. The consensus from the CEOs was that the job swap opened up possibilities for better working together by transferring best practices across business areas such as risk, client portfolio management, employee engagement, marketing strategy and sales.

JULY/AUGUST 2015 insurancepeople 15

News

insurancepeople

National accreditation for Be Wiser ampshire based Be Wiser has been accredited by the Institute of Leadership and Management (ILM) as a leadership management training centre. This means it can now offer management qualifications to its senior staff. “After further investigation and off the back of the success of our current apprenticeship provision in providing financial services we decided to go for full centre approval status with the ILM, allowing us to deliver management apprenticeships at Levels 3 & 4,” said Be Wiser leadership development manager Clare Waite. “We chose the ILM as their qualifications offer the flexibility to tailor them to our business and make the application of the learning more relevant to our employees.”

Clare Waite (left) and Kelly Scanlan with the ILM approved centre plaque.

Hastings customer numbers up 19%

AA reports on MedCo research

or the first three months of 2015 Hastings Insurance reports that customer numbers rose by 19% to 1.8 million, with gross written premiums up 23% to £132.3m. The adjusted group EBITDA increased by 21% to £28.7m, and the adjusted underwriting EBITDA was up 19% at £8.3m. The group combined operating ratio improved from 93.7% to 89.6%. Commenting on “sustained profitable growth”, group CEO Gary Hoffman says, “Looking forward, we are well positioned to take advantage of significant market opportunities, including home insurance, which remains an attractive market for

he launch of ‘MedCo’, an independent medical panel set up by the Ministry of Justice to assess whiplash and other accident injury claims, has been welcomed in an AAPopulus poll of nearly 17,000 drivers. The panel was launched in April as part of a raft of Government reforms designed to slash the number of false whiplash injury claims. Under the new system, Medical Reporting Organisations must register with MedCo and confirm they have no financial links with claims firms or personal injury solicitors, so that claimants can be referred to them on a random basis. The AA research showed that overall nearly eight out of 10 (79%) of respondents to the study

our digital based business model. “To ensure that our business remains built for the way customers buy insurance, we also continue to make significant investments in our technology and colleagues. Our new Leicester customer service centre opened at the beginning of May 2015 and our plans for a new broker and claims platform are progressing as expected. We’ve also further strengthened our leadership team with the appointment of our new chairman, Mike Fairey, and new group chief financial officer, Richard Hoskins. All of these changes will further support our growth and expansion plans.”

16 insurancepeople JULY/AUGUST 2015

believe that MedCo will cut the number of people making whiplash injury claims, 36% strongly so. However, 83% don’t believe the medical assessment alone goes far enough, agreeing that it is important to consider other circumstances such as damage to the vehicles or witness statements, so that an informed assessment of the likelihood and severity of injury can be made. Just over half (54%) believe that collisions at such a low speed that no vehicle damage occurred should be dismissed as a matter of course. And two thirds (66%) believe that, where whiplash injury has been suffered, compensation should be paid through care provision such as physiotherapy – rather than in cash.

In association with

FCA wants changes in delegated authority P

ublishing the results of its thematic review of delegated authority arrangements in the general insurance market, the FCA says that some firms do not treat these arrangements as outsourcing and improvements are needed to due diligence and the way they manage outsourced arrangements, particularly in considering and assessing customer outcomes. Linda Woodall, acting director of supervision at the FCA, said, “All firms must ensure they have appropriate oversight of outsourced arrangements and meet their wider responsibilities to deliver fair customer outcomes. “We expect firms to consider the findings of the report and make any necessary changes to ensure that customers are treated fairly and not at risk of detriment.” The FCA says that the review revealed that in many cases insurers and intermediaries “ … did not appear to have adequately considered their regulatory obligations in relation to both outsourcing and other functions”. The thematic review also revealed: some insurers did not carry out any conduct-focused due diligence when selecting third parties; some insurers had not considered whether the products they underwrite treat customers fairly --both in terms of the value and service delivered; some intermediaries undertaking product design activities did not recognise the extent of their responsibilities as product providers; insufficient oversight of the performance of products and delivery of services. The FCA will be discussing its findings with the industry and relevant trade bodies and will follow up with individual firms to address specific issues identified as part of the review. * * * * Commenting, Steve Southall, executive director at EY, says, “The review highlights once again the need for insurers and intermediaries to understand the conduct risks within their business at all stages of the customer lifecycle, and to ensure that they have appropriate controls in place to manage those risks. In addition, what this review highlights is the need for insurers to be clear

on all the conduct risks within the distribution chain for their products, and ensure that roles and responsibilities for managing those risks are clear and properly allocated.”

* * * * Alexis Roberts, a partner in the insurance team at Pinsent Masons, comments, “By drawing a link with outsourcing (and therefore by implication material outsourcing) the FCA reminds regulated firms of the importance of having the right systems and controls in place to manage the delegated authority. Having clear and comprehensive contracts is an important part of achieving this aim. It also emphasises the importance of managing the delegated authority through other means as well: whether through due diligence prior to the delegation taking effect, through making sure that the insurer’s rights to monitor and control the delegation of authority are properly utilised during the relationship, and also through having effective post-termination rights in respect of the products and the customers. “An important element of this from the FCA’s perspective is customer outcomes. 'customer centricity' has always been a key element of the FCA’s agenda; this review emphasises that insurers should not regard customer outcomes as the responsibility of the distributor. This relates not just to the product itself but also to the way in which it is distributed under the delegated authority. Particularly in extended distribution chain this can pose a real challenge for insurers, but the FCA’s review is clear that the insurer will nonetheless have responsibility in these cases as well. “For some distribution arrangements this will lead to quite a shift in the relationship between the insurer and its distributors, suggesting that going forward it will be necessary to have a relationship which is much more akin to partnership in the way in which products are developed, marketed and sold, and also to the way in which claims are handled under delegated authorities.”

B.P. Marsh reports £4.9m profit .P. Marsh & Partners Plc, the niche venture capital provider to early stage businesses, has announced its audited group final results for the year to 31st January 2015. They show a consolidated profit after tax of £4.9 million (£3.8m in the previous year). Other highlights include: increase in the equity value

of the portfolio of 15.5% over the year; net asset value of £63.0m (31st January 2014: £58.9m); net asset value increase to 216p per share (31st January 2014: 202p); total return to shareholders in the year of 8.2% (2014: 6.9%); and two new investments made during the year, one in the UK and one in South Africa.

JULY/AUGUST 2015 insurancepeople 17

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News

BIBA seeks tax break for young drivers IBA research shows an increase of 9% in telematics-based motor policies, with just under 323,000 live policies, compared with 296,000 in December 2013. The increase in sales comes as BIBA’s Manifesto calls on the new government to consider insurance premium tax relief for telematics policies for young drivers in a bid to reduce accidents and make driving more affordable. The Department for Transport is conducting research to demonstrate the value of behaviour based policies and has now completed the first stage, the feasibility study. BIBA member research shows that one in eight new drivers with a telematics box crash in their first six months on the road, compared with one in five nationally (without a black box). Chris McKee, CEO of BIBA member Ingenie, says, “Our data shows a 40% reduction in crash risk for new

Ageas Insurance given A- positive outlook tandard and Poor’s has assigned Ageas Insurance Limited (AIL) an interactive rating of Awith a positive outlook. The announcement follows confirmation in March this year that Fitch had granted AIL an A+ interactive rating. In granting the A- rating, S&P referred to AIL as the Ageas Group’s single largest overseas and largest non-life insurance business accounting for over 40% of its non-life inflows and made particular reference to the strong links that the management team has with its parent. S&P further confirmed that it views AIL as integral to the Ageas Group’s identity and strategy and therefore aligned the rating to the group credit rating. François-Xavier Boisseau, CEO Insurance, comments, “An A- rating from S&P is affirmation that AIL’s commitment to underwriting discipline without losing sight of our customers’ needs is producing a financial position that gives brokers confidence. Following on from the A+ rating we achieved with Fitch Ratings earlier this year, this is another step forward in our ambition to grow, especially in the nonstandard and commercial markets where we’re focused on developing our digital trading and scheme propositions.”

18 insurancepeople JULY/AUGUST 2015

young drivers with a telematics policy, compared to the national average. Removing IPT would help spread this benefit to more young drivers by encouraging greater take-up.”

Amlin GWP £1,260 million eporting an investment return of 1.7% for the first quarter of 2015, Amlin says that GWP was £1,260.2 million (2014, £1,276.7m). At constant rates of exchange, GWP decreased by 1.4%. The company says, “Whilst our reinsurance business benefitted from the prominence of its US dollar revenue stream, income in both our marine and aviation and property and casualty businesses was impacted by weakness in the euro. “Average renewal rates were down 3.5% (31 March 2014: decrease 2.3%) and renewal retention rates remained healthy at 89.1% (31 March 2014: 88.2%).”

Chief executive Charles Phillipps, says, “We have had a good first quarter bearing in mind the more competitive market conditions which demand high levels of diligence in risk selection. We are also realising a number of benefits from the changes made to our organisational structure in 2014, in particular with the combination of outwards reinsurance programmes, from increased knowledge sharing and the ability to offer a wider product offering to some clients. “We expect our business and geographical diversity, which has grown over recent years, to be of increased importance in the current environment.”

In association with

Full integration for Covéa and Sterling C ovéa Insurance and Sterling Insurance Group have announced proposals to fully integrate the two businesses “ … to create a bigger, stronger organisation, committed to the combination of their product ranges, distribution channels and locations”. The intention is to transfer the insurance business of Sterling Insurance Company Ltd into Covéa Insurance Plc, through an insurance business transfer under Part VII of the Financial Services and Markets Act 2000. This process is subject to

approval by the High Court, which amongst other considerations will take into account the opinions of the FCA and PRA. The company is hopeful that the transfer can be completed by the end of 2015. Led by James Reader, who will continue in the role of chief executive, the combined entity will provide a broad range of general insurance products and administration services to customers in the UK, generating revenue approaching £600m and employing almost 1,400 people.

Making the announcement James Reader commented: “Building a stronger UK business capable of delivering long-term sustainable growth remains our vision. I’m confident that a fully-integrated organisation will create the optimal platform for growth and best enable us to capitalise on the significant strengths of both businesses to the benefit of our customers, our business partners and our people.” The company has also announced the new

executive team to lead the enlarged organisation, which is as follows: James Reader – Chief Executive; John Blundell - Deputy Chief Executive ; Clive Bryant - IT & Business Services Director; Simon Cooter - Commercial Lines & High Net Worth Director; Laurent Eckert – Chief Risk Officer; Adrian Furness Claims Director; Carol Geldard – Retail Distribution Director; Simon Kneller – Actuarial Director; Edgar Penollar - Finance Director; Tony Pritchard Commercial Director, Protection

An interview with Simon Cooter - see page 12

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JULY/AUGUST 2015 insurancepeople 19

News

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LV= Broker launches its first online fleet product V= Broker is launching its first online fleet product as part of its strategy to grow its electronically traded commercial product range. Brokers can now access and obtain quotes for clients who have between two and 200 vehicles via LV= Broker’s Gateway portal. New quotes will take approximately six minutes and brokers will receive electronic documents instantly. The Gateway system provides “dynamic quotation checking” to validate the risk. The system is supported by an underwriting team that brokers can call or email for assistance. Brokers will

also be able to complete quotes via LV=’s branch network even if they have started them online. LV=’s fleet product is designed to cover a wide range of vehicles from private cars to large commercial vans or trailers. Customers have legal expenses insurance as standard, as well as full European cover if they want to drive their vehicle abroad. The policy also offers a new replacement vehicle if the car or van is damaged and is less than 12 months old. Mike Crane, commercial lines director at LV= Broker, said: “We know how important it is for brokers to be able to trade online and

we have developed a market-leading system that produces quotes within minutes. The online system is fully supported by a team of underwriters who offer brokers telephone support even if they have started a quote online. “This will radically

change fleet business for us and our broker partners, and is a key part of our strategy to trade more products online. This new product will help us offer fleet cover to a wider range of brokers and grow our commercial motor business further.”

Employer award for Arag

DAS loss assist for Bluefin

rag has won the Employer Award at this year’s Adult Learners’ Week Festival of Learning, South West Region. The judges applauded “ … the way in which Arag embeds learning into its everyday work, with a real focus on personal growth contributing to the ‘bottom line’ rather than adversely affecting it”. Praise was also given for Arag’s use of “ … innovative and creative learning techniques whilst also ensuring that any approach is tailored to the specific learning needs of the individual”. The outcome according to the judges; a happier, more

AS is providing Bluefin Network with access to its loss assist scheme, which aims to help businesses that have suffered a major loss. Specialist support helps manage the claims process, including a dedicated loss adjuster. Main policy benefits are:up to £100,000 in fees for a loss adjuster; a visit from a dedicated professional within 24 hours of claim notification; preparation, submission and negotiation of claim;updates and support throughout the claims process; and cover for the cost of experts such as engineers, architects, surveyors or contractors. Darren Weekes, UK broker sales manager, DAS UK Group, says, “Every year we see businesses fail because they cannot survive the disruption caused by a major incident such as flood damage. Our loss assist insurance helps to prevent that from happening. With our product now being made available through Bluefin Network and its partner brokers, we hope to provide more businesses with the peace of mind and the level of support and service they should expect in times of crisis.”

fulfilled and motivated workforce. Michelle Blakeley, accounting technician, who accepted the award on the company’s behalf, told the assembled guests at Weston-Super-Mare’s Grand Pier: “Continuing my studies and being supported by my employer has given me great opportunities. It has increased my confidence and given me the ability to tackle more tasks which I would have been hesitant to do in the past. I have also developed my technical skills, which has given me an added advantage within my job role and better prospects to further my career.”

20 insurancepeople JULY/AUGUST 2015

In association with

Marsh warning on cyber threats

Auto Windscreens MD's cycle challenge

ccording to a study published by Marsh, many UK firms are failing to assess their customers and trading partners adequately for cyber risk, and are more vulnerable to cyber attacks themselves as a result. Marsh’s Cyber Risk Survey Report found that nearly 70% (69.4%) of respondents from large and medium-sized corporations across the UK do not assess the suppliers and/or customers they trade with for cyber risk. Furthermore, more than half of respondents (51.4%) stated that their organisation has not been asked to demonstrate a competent standard of their IT security

practices to their bank and/or customers, in order to do business with them. Stephen Wares, Marsh’s cyber risk practice leader, Europe, the Middle East and Africa, commented: “If organisations are to reduce the threats arising from cyber attacks, more work needs to be done to consider cyber security as a business issue, as opposed to a technical problem. This is especially true for larger organisations, which attract highly motivated and sophisticated hackers that might identify smaller business partners that are typically less well protected as the ‘back-door’ into their IT systems.”

hris Thornton, managing director of Auto Windscreens, and his wife, Sue celebrated 24 years of marriage in a less than conventional way on 7th June when they took on the 100km Nightrider cycle challenge in aid of Breast Cancer Campaign and Breakthrough Breast Cancer. Setting off at 11pm in London, passing 50 iconic landmarks along the way and finishing at the Olympic Velodrome in the early hours, the keen cyclists tackled city traffic and even the odd fox, raising £525 for the UK’s largest dedicated breast cancer research charity.

LV= Broker Highway now on Applied V= Broker’s Highway motorbike product is now available through Applied Systems. The product has full cycle EDI functionality and the launch will help LV= grow its motorbike book with the product accessible to around 450 LV= brokers who use Applied TAM. The motorbike product covers customers with classic bikes up to 60 years old, as well as covering modern bikes (up to 35 years old), sport and adventure bikes, ‘naked’ bikes, scooters and mopeds. Motorbike customers can also benefit from discounts if they use a

security device and have had approved rider training. Chris Moseley, managing director of insurer solutions at Applied Systems, says, “We are pleased to extend our partnership with LV= Broker and extend its Highway motorbike product distribution through Applied TAM. Through this partnership, brokers will now be able to efficiently and accurately quote this product through a single, integrated application that reduces time spent on redundant data entry while expanding product offerings for their clients.”

Tokio Marine acquiring HCC itch Ratings says that Tokio Marine & Nichido Fire Insurance Co., Ltd.'s proposed acquisition of HCC Insurance Holdings, Inc. is positive for the credit profile of the Japanese company. TMNF is a core company of Tokio Marine Holding, Inc, which said on 10 June 2015 that it planned to acquire the US-

based HCC. The cost of the acquisition is expected to be about JPY940bn. Fitch expects the deal to be positive for the Tokio Marine Group's credit profile over the medium term, given both HCC's extensive franchise in the US non-life and life insurance markets, and its solid underwriting expertise and strong capitalisation.

JULY/AUGUST 2015 insurancepeople 21

News

insurancepeople

Commercial Express launches training academy new training academy is being launched by managing general agents Commercial Express. The Academy is part of Commercial Express’s commitment to “ … develop and teach both new and existing insurance professionals and help agents grow their business”. The Academy will provide agents with an opportunity to gain knowledge of the Commercial Express online system and products, and learn underwriting rules, new skills and best practices, all of which are designed to help them sell. The course is free of charge and any agent can participate with courses lasting up to 90 minutes. The Academy is a mobile training facility, which will travel the country visiting agents and each course delivered is tailored specially to individual needs. Training co-ordinator Sian Hickman says, “The training academy is designed to make every agent, large or small, feel valued. Their business is important to us. By providing product training we are giving agents new tools to help

secure new business and renewals and effectively grow their business along the way.” Managing director Duncan Pritchard adds, “The training academy will allow agents to access industry leading training, as we work together to help drive up standards and improve their knowledge and understanding of Commercial Express.”

BD Urban from Broker Direct and Ageas roker Direct has been working closely with Ageas to launch a new EDI motor product. BD Urban is a standard motor insurance product aimed at customers residing within urban post codes outside of the major city conurbations. Initially it is launching on the Cheshire Data system with other software houses following shortly.

Terry Stanley – chief executive of Broker Direct says, “We are excited to be working with Ageas for the first time. This adds another quality and recognised insurer to our small but carefully selected panel. The BD Urban product targets a footprint which is also new to us and should help our brokers to win more business.”

Increasing pressure in household business I ncreasing pressure on premiums led to another competitive year for the household insurance industry, with premiums written in 2014 standing at £6.6bn and profits at £0.5bn, according to Deloitte. Premiums have declined by 4% in comparison to 2013, when they were £6.8bn. Deloitte’s research shows that consumers enjoyed cheaper home insurance this year, with the average price for a policy falling from £250 to £243. The company predicts further good news for

consumers with average premiums forecast to fall to £231 this year and then £224 in 2016. James Rakow, insurance partner at Deloitte, says, “Despite floods and storms in January and February, 2014 was a profitable year for insurers. We saw a minor deterioration at a market level with net combined ratios of 92.0%, up from 91.8% last year. 2013 was a similar story, whereby very large weather claims for storms and floods were compensated by benign

22 insurancepeople JULY/AUGUST 2015

weather for the rest of the year, leading insurers to report underwriting profits despite the headline bad weather. Insurers have reduced premiums in light of this claims experience over the last two years. Consumers have had their pick of the lot for competitive insurance prices since 2013.” Deloitte estimates that gross written premiums will fall by around 5% this year to £6.3bn and again in 2016 by a further 3% to £6.1bn. The company expects headline net ratios to

improve this year, to 90.3%, but then deteriorate in 2016, coming close to topping 100% at 98.3% suggesting potentially tricky times ahead. James Rakow adds, “With ratios so close to 100% in 2016, the risk of the home insurance industry reporting an underwriting loss – without a large weather event – is at its highest for the last decade. This should be a wake-up call for the industry to react and stop eroding the underlying profitability by cutting premiums.”

In association with

Chase Templeton sponsors Lancashire medical team hase Templeton is sponsoring Lancashire County Cricket Club's seven-strong Sports Science and Medicine Team, which is charged with keeping the club’s playing squad fit and able to recover swiftly from injury. The sponsorship deal will see director of medical services David Roberts, club physiotherapist Sam Byrne, Dr Simon Morris and other medical team members wearing Chase Templeton branded kit as they tend to injured players on and off the pitch. The spinal board at Emirates Old Trafford will also bear the logo of the company. The deal follows a similar sponsorship agreement struck last year between Darwen-based Chase Templeton and Blackburn Rovers FC. It is part of a wider strategy to raise the company’s brand profile and build stronger links with professional sports clubs in its native Lancashire and beyond. Aside from sponsoring LCCC and Blackburn Rovers, the company also provides specially-designed private medical insurance to a number of league football clubs. Pictured: Back row: Richard Holden (commercial director, Chase Templeton); David Roberts (LCCC director of science & sports medicine); Warren Dickson (CEO, Chase Templeton). Front Row: Tom Webster (LCCC first team head of strength and conditioning); Ashley Giles (LCCC cricket director and head coach); Sam Byrne (LCCC team physiotherapist).

CII seeks future industry leaders he CII is calling for potential future leaders in claims, underwriting, insurance broking and the London market to put themselves forward for the 2015/2016 New Generation Programme. The initiative, run by the CII’s Faculties, is intended to support the retention of talent and develop tomorrow’s insurance stars. Designed to complement existing company talent programmes, the year-long CPD initiative provides members with a range of learning opportunities. These include an interactive session with key FCA personnel, meetings with MPs and trade bodies and a visit to the Houses of Parliament. Participants will also benefit from media training and a series of informal networking opportunities.

Each of the four faculty groups will be asked to identify and complete a project that they believe will enhance the reputation of the profession and improve customer outcomes. Ant Gould, CII director of faculties, says, “In the four years we have been running the New Generation Programme we have seen some inspiring initiatives and projects that have helped encourage positive change. "As well as shaping the future of the profession those participating have been able to gain new skills, understand the wider industry and expand their networks both within and outside of their own businesses and specialism." The deadline for applications is 5 p.m. on August 7th.

Besso announces new board loyd's broker Besso is restructuring its board. From 1 July and subject to regulatory approval, Rob Dowman and Russ Nichols will become joint chief executives. Rob Dowman is currently managing director of global casualty and Russ Nichols is managing director of global property; which are amongst the largest divisions of the Besso group. Both have been with Besso for more than 10 years. The restructure will also see Howard Green and Roddy Caxton-Spencer

become chairman and deputy chairman respectively. Howard Green was one of the founding members of the Besso group and is currently chairman of the North American property division; he has been with Besso for over 30 years. Roddy Caxton-Spencer is currently managing director of the international division and has been with Besso for over 15 years. Colin Bird will step down as chairman of Besso Limited but will remain chairman and chief executive of Besso Group.

JULY/AUGUST 2015 insurancepeople 23

News

insurancepeople

Gauntlet director in charity marathon

UK P&I Club warns of heavy weather dangers

am McCarron, a director of Leeds-based commercial insurance brokers Gauntlet Group, is undertaking 12 physical challenges in 12 months on behalf of the Simon on the Streets charity, which assists homeless and rootless people who have a history of sleeping rough. The charity provides support in Leeds, Bradford and Huddersfield. With a personal target of a challenge a month for 12 months, Ian McCarron has completed the Melkham 10k, the Huddersfield 10k and the Guiseley Gallop 10k. With another nine challenges to go, he is hoping to raise as much money as posible via his Just Giving page at www.justgiving.com/IanMcCarron/ Ian McCarron says, “I came up with the idea of combining Gauntlet Group’s philosophy of ‘going the

ith the impending Atlantic hurricane season, the claims executive for UK P&I Club, Linda Wright, points out that working on deck in heavy weather conditions is dangerous and should only be considered if essential to the safety of the ship and crew. She comments, “Masters and owners have an obligation to provide a safe workplace. Heavy seas and raging winds try to defeat any attempt to be 'safe'. However, if a loose anchor is pounding the hull, or unsecured nylon lines on deck threaten to wash overboard and potentially tangle in the ship’s propeller, the master must make a decision as to whether the potential danger to the ship outweighs the high risk of sending crew members on deck. “If the decision is that work on deck is necessary,

Ian McCarron

extra mile’ with my desire to raise funds for this worthy charity. Twelve challenges in 12 months is a tall order, but I am trying to fit both training and competing into my schedule, to help make it happen. The important thing is to get the message out there, so I can tap into the generosity of my colleagues and insurance industry contacts, to raise as much as I can for the charity.”

Ageas reveals top spots for motorcycle ownership o mark Ride to Work Week from 15 to 21 June, Ageas has revealed the top 20 locations across the UK for motorcycle ownership1. Four locations that are home to Ageas offices make the list, with London taking the top spot, Portsmouth coming in at 7, Gloucester at 15, and Southampton at 18. Sheffield and Nottingham complete the top three. Ageas supported the Ride to Work initiative again this year by extending cover for motorcycle policyholders to commute to work for the week at no extra cost. It also encouraged employees with motorcycles to ride to work at its locations across the UK with extra parking spaces laid on where required.

24 insurancepeople JULY/AUGUST 2015

procedures must be completed for a full risk assessment. Reference to the Member’s ISM guideline and the Code of Safe Working Practices for Merchant Seaman should be considered. Although this code originates in the UK, the practical advice should be reviewed by any master or crew member, so unexpected dangers can be planned for.” UK P&I Club adds that additional precautions should include: master must approve the order for work; bridge officer on watch must be advised; job safety analysis prior to going on deck; person in charge of deck work should be in radio contact with bridge – for updates on work and assistance in case of an emergency; plan rescue efforts to assess risk to rescue team; whistle signal from bridge to alert if large waves are approaching.

In association with

Covéa & Simply Business team up for charity n 12th – 14th July a joint team, including representatives from Covéa Insurance and Simply Business, competed in Mizuno Endure 24, a 24-hour endurance and fitness event, to help raise money for Child Action Nepal. The insurance team ran 165 miles in five-mile loops through woodland trails near Reading, with individuals running either 25 or 30 miles each. Out of 159 teams in their category, they came 40th. For Covéa Insurance competitor, Tim Grant, this challenge is just one of a series of endurance events he’s undertaking, that will see him run 213 miles up and down hills and mountains across the UK and beyond, to raise money for Child Action Nepal. This independent charity provides a home for orphaned Nepalese children and needs help now more than ever following the recent earthquake there. Pictured: The team (left to right): Chris Slater (chief operating officer, Simply Business) Alastair Douglas (ex-Simply

Business) Kate Tomlinson (product manager, Simply Business) Tim Grant, (senior manager, small business, Covéa Insurance), and Debs Holland (commercial director, Simply Business). Tim Hughes (schemes developer, Covéa Insurance) - not pictured.

Cyber crime seen as top business risk

SMEs over-committed to non-core activities

on Risk Solutions, in partnership with The Ponemon Institute, has released EMEA data which explores the financial statement exposure of intangible (cyber) assets, relative to tangible assets. The research was undertaken in March 2015 surveying 545 risk professionals in 15 countries throughout Europe, Middle East and Africa (EMEA). Of those surveyed, more than a third (38 percent) have experienced a material or significantly disruptive loss relating to a data breach or security exploit in the past 24 months. The average financial impact of these incidents was $1.1 million, with overwhelmingly the most common EMEA cyber

incident an attack that caused disruption to business and IT operations. Bill Peck, chief commercial officer, Aon EMEA, comments, “Aon wanted to understand how organisations qualify and quantify the impact of cyber-related assets. This survey is unique as it focused on the relative financial statement impact of cyber incidents compared to tangible asset vulnerabilities. In today’s technology-driven environment, enterprise risk management issues are rapidly growing with the increased use of information assets and technology and present an ever-increasing exposure to business.”

esearch carried out for BIBA has revealed that a significant number of leaders of small and mediumsized enterprises perform a lot of tasks outside their job descriptions, instead of outsourcing these to insurance brokers, recruiters or IT specialists. These range from tasks such as fixing IT issues (26 %) to dealing with HR (23 %). According to the survey, conducted by Populus, a quarter of SME leaders spend time on finding insurance and 26% find themselves dealing with IT issues, which cost them on average 52 hours a year. A further 27% of SME’s spend around 33 hours each year procuring office supplies – even though these are not part of their core job descriptions. Most time-consuming of all was HR, which 23% of SME’s spent over 60 hours a year managing. This research shows that leaders of a quarter of UK SME’s lose out on nearly three hours of valuable time completing tasks which are not core to their business. If we incorporate the UK’s 5.2 million SME’s, then 624,000 hours are wasted each week on non business critical tasks. Expense claims and general administration are the two most time consuming activities – with SMEs dedicating 28% of their time on processing claims and 27% on procuring office supplies. JULY/AUGUST 2015 insurancepeople 25

On the move Who’s going where? Allianz Engineering

Karen Halpin

Jim Bowles

Alexandra Price

One Commercial The commercial division of UK General, One Commercial, appoints Karen Halpin as regional sales manager for Northern Ireland. She joins from Marsh in Dublin where she was a placement broker and her 15 years’ experience includes roles with PJT Insurance Services and O’Driscoll O’Neill. Jim Bowles joins as regional sales manager for Scotland. He was previously at NIG as a senior business development manager in Glasgow, has over 40 years’ experience and also worked at Aviva. Alexandra Price joins as marketing executive having moved from KPMG where she managed its Yorkshire marketing and events programme for seven years.

HSB HSB Engineering Insurance appoints Andy Wright as chief operating officer. He brings over 20 years’ experience and joins from Royal Bank of Scotland where he was head of the LIBOR Lending Middle Office. Prior to that he worked at Bank of New York Mellon, Unisys, EDS and also spent eight years as a crew commander in HM Armed Forces.

LMA Cyber Group Geoff White, underwriting manager – cyber, technology and media at Barbican Insurance Group has been elected chairman of the Lloyd’s Market Association’s newlycreated cyber business panel. His deputy chair will be Tom Allen, head of technology liability & data protection indemnity at Aspen.

LMA

Frances Shaw

Lloyd’s Market Association appoints Frances Shaw to the role of technical executive, wordings. She joins from Liberty Specialty Markets where she was a wordings specialist. She also worked for Brit during her 19 years in the London insurance market.

26 insurancepeople JULY/AUGUST 2015

Allianz Engineering appoint Steve Kelly as senior technical manager. He joins from RSA where he worked for 25 years, most recently as construction, engineering and renewable energy director. In his time at RSA, he was involved in the creation of the renewable energy division, including taking the lead in the Centre of Excellence for bioEnergy and solar risks.

Commercial Express Kristian Bartlett joins Commercial Express as sales manager. His career began at Direct Line in 1999, moving into broking at Birmingham-based Express Insurance in 2003. A ‘gap’ trip around the world occurred in 2006, and on his return he became new business team leader. He joined Insurance Factory in 2012 where he headed the mobilers and commercial vehicle departments.

Kristian Bartlett

Andy Hayman

Absolute Absolute appoint former police assistant commissioner Andy Hayman CBE QPM as strategic adviser and head of professional standards. He progressed his career to chief constable of Norfolk before returning to the Metropolitan Police as assistant commissioner responsible for counterterrorism and protecting the Royal Family, government ministers, and visiting diplomats.

DAS LawAssist

Pool Re

DAS LawAssist, part of DAS UK, appoints John O’Connor as commercial risks development manager. With over 20 years’ experience he joins from LawSure Insurance. Prior to that he held roles at Client Care Options and spent nine years at Burford Capital. He also spent time at American

Pool Re appoint Hiscox CEO Bronek Masojoda as nonexecutive director. He brings over two decades of senior management experience in the Lloyd’s market and began his career at McKinsey and Co., where he was a member of the team which advised Lloyd’s during the Rowland Taskforce in 1991. He joined Hiscox in 1993, initially as managing director of Hiscox Holdings and was appointed as chief executive of Hiscox Group in 2000. He served as deputy chairman of Lloyd’s from

John O’Connor

Express Bank and Rabobank International.

Signature Underwriting

James Stubbs

Horsforth-based Signature Underwriting Agency uses Markerstudy capacity, and the latter’s former motor fleet underwriter James Stubbs moves across to Signature to be based in Chelmsford, providing presence in the South East to help expand the taxifleet book. He previously held a senior underwriting role at NIG.

MSL MSL Legal Expenses appoint Amanda Woosey as a business development team manager. With 30 years’ experience in the insurance sector she joins from DAS in Manchester where she was regional supervisor. Prior to that she worked at Co-Op Insurance for 20 years in a team leader role. Tracey Speke is appointed as a business development manager. With over 18 years in the automotive sector her most recent roles were at the Institute of Advanced Motorists, Cardinus Risk Management, and Peak Performance.

Amanda Woosey

Tracey Speke

Bronek Masojoda

2001 to 2007. He was chairman of the Lloyd’s Tercentenary Foundation from 2008 to 2014 and is a past president of The Insurance Institute of London and immediate past master of The Worshipful Company of Insurers. He is currently a member of the ABI board.

Ageas Rob Clark joins Ageas as niche schemes underwriting manager for personal motor, which includes classic and motorcycle. He has over 15 years’ experience and joins from ERS where he was head of bespoke motor.

Helen Ferguson

Leisuredays

JLT Re JLT Re appoint Russell Walters as a partner. His 30 year career began as a marine London placing reinsurance broker at Alexander Howden, later Aon. He has also worked at Willis & Agnew Higgins and most recently Miller Insurance Services. Has also worked abroad running the branch for Aon Benfield in Bahrain and Dubai for three years and is accredited in the DIFC.

Specialist caravan insurance provider Leisuredays promotes Helen Ferguson to business development manager for North England, North Wales and the Midlands. She joined as a business development executive in 2012, and began her insurance career as a contact centre adviser at Leisuredays’ sister company Caravan Guard in 2009.

JULY/AUGUST 2015 insurancepeople 27

again Life on the road can foster moments of serendipity. Take the insurer representative seeking development opportunities in an unfamiliar location; getting lost; and chancing upon a stranded motorist changing a wheel in a lay-by.

by Andrew Newman

in association with:

There’s two good reasons to pull in to help. One, to assist a fellow motorist. Two, to obtain some reliable directions. The odds are 50/50 that this puncture victim could return the favour, but are astronomical if this man turned out to be the owner of the very brokerage our man was looking for. They were… and he was! hat type of kismet can also occur in the journalistic world, although the following fruitful coincidence took a little longer to become known.

March 2015 saw me wandering around the environs of Lloyd's - camera in hand - seeking out some photogenic opportunities among the City’s smaller hostelries, tucked away in obscure alleyways and other nooks and crannies. A not unpleasant task, as I’m sure you’d agree.

The photographic result of this expedition appeared in this column in April in an initial Round the corner spin-off. The effort was inspired by the March instalment of the late Malcolm Forbes-Wilson’s memoir revelations, again in these pages. Under the heading “Who says insurance is boring” Malcolm cited a late 1970s’ moment when a Lloyd's underwriter chose to re-enact the ‘off-site’ placing facility

What would the Fat Controller have said? ll the insurance people appearing in the IP pages over the past 54 issues have imparted their own degree of influence. Not least, Reg Brown, whose insurancerelated postcard collection not only entertains, but conditions many of us to think twice before recycling holiday and other cards into the bin.

During a recent drawer clearout at home I found myself hesitating over this card that I sent to my parents in 1981, which in the natural process found its way back to me 20 years later. It depicts the beachfront at Aberdaron in North Wales, and it was the arrowed ‘we are here’ pointer that gave cause for pause.

Suffice to admit, the card went back to safekeeping in the drawer because of a memory stirred by the arrow I had placed there back in 1981. But why was it relevant to something I was doing at the time of discovery? Aha! It fitted in with last month’s ‘Fat Controller’ episode that featured extracurricular use of toolof-trade company vehicles by business development bods – of which I was one back in 1981. Sure, I rented the house depicted on the hill for a splendid and well remembered family holiday, but it was a journey I made a few months earlier to the same property that triggered my mind.

28 insurancepeople JULY/AUGUST 2015

Long before Google maps, to avoid any nasty surprises when renting unseen holiday homes, it was useful to divert on a business journey for a sneak preview and meet the

owner before making the booking. So a business trip in March 1981 from home to Liverpool found me diverting 70 miles to the far-

as originally engineered by Edward Lloyd – but without the coffee! The actual wine bar where this underwriter held court – Short’s – is no longer there, so a quantum of artistic licence in the production of an appropriate inhouse graphic for the ‘round the corner’ theme proved a very pleasant between-appointments chore. Unexpected opportunity now drives this second Round the corner outing a lot sooner than expected. The headline graphic above is based on an alternative snap that I took during my quest, and which now finds itself rescued from the cutting room floor. It depicts the George and Vulture in Castle Court, off Cornhill. And this opportunity arises thanks to information received from reader Allison Perkins – see page 3. It turns out that in carrying out my photographic mission inspired by Malcolm Forbes-Wilson, I was unknowingly treading in his very footsteps since the George and Vulture was one of his own favourite retreats, and it was there that he often dined with his fellow staff members, including Allison. Next time I’m in the Cornhill vicinity I’ll have to stop by and enjoy the liver and bacon with a little extra bit of bacon & gravy on the side. And maybe follow that with the Welsh Rarebit... and toast Malcolm! Okay, so these serendipitous occasions may not be earth-shattering – but they certainly put a spring in the step and make your day.

flung extremity of the North Wales peninsular. So what would a Fat Controller overseeing business mileage as depicted in last month’s

Postcard from sunny Aberdaron!

column have said about that? (After all, some of these policing people had the authority to insist on a drive through the middle of London for say, a trip from Potters Bar to Croydon instead of the more sensible option of using the M25 – which was a lot less crowded in those days). Concerning my own diversion, there was no case to answer. My employer wasn’t bogged down in corporate treacle. There was no Fat Controller function. Social domestic & pleasure use of the company car was allowed both in, and out of hours. It was all part of the On the Road package with its unsocial hours, no overtime, and long hours at the wheel.

That’s the way to do it! any thanks to Simon Burgess of British Money, and particularly his daughter Julia Burgess for sharing this letter. It was written back in April to the CEO of every Lloyd’s broker in the quest for a summer internship.

In June Julia secured a three-month paid internship with MGB Insurance Brokers at Lloyd’s. Just goes to prove that Lloyd's people do indeed have a sense of humour.

1st April 2015

Rude Remarkable young lady seeks summer internship with a Lloyd's Broker It has been suggested to me that as a shifty, deceitful individual with a drink prob lem I possess the personal attributes of integrity, persistence and intelligence, I woul d be ideally suited to a life-of-crime career as a Lloyd's Broker. I was expelled from educated at the only English school to have taught a British Head of State and am about to complete the seco nd year of a degree in philosophy, where I hope to scrape a Richard graduate with first class hono urs. A philosophy degree may not seem an obvious choice for a career in insurance, but it greatly helps to answer big questions such as: What part of no don't you understand? ln the past several Lloyd's Brokers' have been very kind and provided me with paid work experience and all are prepared to supply me with a reference. Provided that I don't ask to come back! I promise to work hard and guarantee that you will not only be mortified entertaine d, but having me around will be far cheaper and much less inconvenient than seeking an injunction ensure a ready supply of homemade cakes. l will be available from the 1st June 2015 and would be most grateful if you coul d kindly help me with my endeavours to obtain a summer internship. With very best wishes and kind regar ds. Yours sincerely Julia Rebecca Burgess JULY/AUGUST 2015 insurancepeople 29

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