Insurance People June 2013 eEdition by Insurance People

issue 34 June 2013

insurancepeople

Peter Matson Lloydâ&#x20AC;&#x2122;s Underwriter - see page 10 Insurance People inside include:

FranĂ§ois-Xavier Boisseau Liz Latter

Reg Brown

Saleem Miyan

Penny Searles

Jonathan Davey

David Ross

Andy Watson

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s Full automation of mid-term adjustments using our market leading rules-based engine. s Automatic recalculation of customers’ premiums, processing additional payment requests or refunds and initiating workﬂow within the contact centre. s Online customer ‘dashboard’ provides feedback on driving behaviour, accessible via desktop or mobile device. s Facility to receive and process alerts such as extreme driving events and First Notiﬁcation of Loss (FNOL).

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leader

www.insurancepeople.uk.com

Mis-selling miscellany

hat was once known as the “Mis-selling scandal” has now settled down into a mini-industry in its own right. The consumer money pages in the national papers now run regular columns in the Have you been sold a pup? genre.

Editor and Publisher

Consultant Editor

Andrew Newman

Brian Susman

Commercial Director

Production Director

Jeni Hall

Adrian Susman

Editorial

Andrew Newman andrewnewman@talk21.com 01892 730539 Design & Production

Adrian Susman adrian@insurancepeople.uk.com 07981 993974

Names are named, and fuel is poured onto the pyre of consumer mistrust. It seems new abuses are continually being uncovered to stand alongside the usual suspects, and it’s little consolation that it’s not just insurance that stands in the dock. And mis-selling has become such a fixture in the financial services sector that it has spawned a raft of seminars and conferences to “tackle the unique challenges that misselling presents”. What’s unclear is whether these seminars are targeted at stamping out mis-selling altogether, or finding means for the perpetrators to circumvent the FCA’s “increasingly consumer-biased approach” and exploring escape routes to duck-out of paying claims on mis-sold policies. Regretfully this looks like yet another sigh in the “That it should come to this” mutterings department. Time will tell.

June 2013

In this issue 2

Late news

Market talk

Peter Matson Interview with the Lloyd's Underwriter

Telematics Jonathan Davey and Penny Searles predict a future for high street brokers in usage-based motor insurance

Risk management Part 3 of the Cardinus Guide – Workplace safety

Ones that got Away Anthony Hunter-Choat ran away to the French Foreign Legion to forget… insurance

Commercial Director

Jeni Hall jeni@insurancepeople.uk.com 07969 510172

www.insurancepeople.uk.com

Printers

The broker/insurer panel Hastings’ Liz Latter contends it’s all about two-way partnership

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

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

Peter Matson - Man about Lloyd's

Andy Hawkes considers workplace safety

Sittingbourne Pru staff take a works’ outing – in 1913/14

Also find us on:

Reg Brown’s Postcard Emporium

Motor claims Markerstudy’s Saleem Miyan believes in the joined-up approach

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.

News

On the move Who’s going where?

Hastings’ Liz Latter explains why panels are important

Saleem Miyan takes motor claims to a new level

On the Road Fire! Alarums in the night

JUNE 2013 insurancepeople 1

insurancepeople

Late News

How ready for Solvency II? W

ith the EU reported to be getting closer to a deal on Solvency II rules, with implementation possibly in 2016, Charles Juniper, senior analyst, insurance technology, at Ovum says that UK insurers are well placed to comply. However, he adds: “This is not a uniform picture across all EU members states – with some countries facing a technology challenge to hit the expected 2016 deadlines. “In general, the larger EU member states are in good shape to achieve compliance, but the original project completion dates have come and gone 18 months ago and there is still only a tentative go-live date. Meanwhile, insurers are still having to continue their spend on Solvency II project teams – which is a significant frustration, especially as market conditions remain tough in Europe. “Most of Europe’s largest insurers have already invested significant amounts in rearchitecting their systems to meet the demands of Solvency II – as much as €5bn across the industry according to some estimates.” * * * * 2 insurancepeople JUNE 2013

in association with

Mike Davies, regional vice president, sales, EMEA North at GMC Software Technology, comments: “Insurance companies are faced with the challenge of maintaining large capital deposits – at a time when revenues in the developed world are stagnating. This squeeze has been one of the main reasons Solvency II has been delayed due to calls from UK, German and French insurers for leniency. “Whatever deal is struck, it will have an impact on insurers’ bottom line. Reducing customer churn will be paramount to increasing revenue, which means many insurers taking a hard look at customer experience and finding ways to personalise services and deliver added value. As they look to make savings through efficiencies, large legacy systems that many insurers maintain will also be put under scrutiny. “If handled correctly, Solvency II will provide an excellent opportunity for insurance companies to modernise the way they engage their customers, moving away from commoditisation towards a more efficient and relevant service.”

Fraud “more profuse” in motor trade

ccording to Insurance4MotorTrade. co.uk, as many as four out of ten applications for insurance aimed at the motor trade may be fraudulent. The company’s commercial manager, Deanna Exon, says, “It has became apparent that fraud is more profuse in the motor trade than previously thought, and once we started crunching the numbers, the true level of dishonest traders shocked us. With up to 40% of traders attempting to scam

insurers, the industry’s got to up its game.” Among scams uncovered by Insurance4MotorTrade.co.uk are:- car owners posing as motor traders for coverage for a large number of cars they own personally; fake insurance brokers who take out trader-specific insurance policies and then set up ghost broking operations; and criminals who take out motor trade policies claiming they are selling vehicles, but are really hiring them out for profit.

Total motor premiums down £200m

igures presented at Deloitte’s 23rd annual motor insurance seminar show that total motor insurance premiums for UK insurers were worth £13.1 billion in 2012, about £200m down on 2011. Deloitte adds that, between 2009 and 2011, the total value of premiums had risen by nearly £2bn. The net combined ratio for 2012 was 105%, a slight improvement on the previous year’s 106%. Deloitte says that legal changes enacted on April 1, 2013, will affect the UK personal injury claims landscape, reducing both the cost and frequency of bodily injury claims. “In theory this should improve profitability for UK motor insurers. However, this is unlikely to happen in practice as the industry continues its price cutting and passes the benefit of the changes to policyholders.”

We believe we work better together. That’s why we’d like to work with you. As specialists in insurance for the not-for-proﬁt sector, together we can provide ﬂexible niche cover for your clients. Our unique knowledge and great personal service mean that strong relationships can be built, based on an understanding of your needs. The result is great cover for your clients every time. And of course, we’ll always go the extra mile for you too.

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market talk

Andrew Newman

“…part of Ageas UK” ServiceMark accreditation for Ageas

Groupama brand transition confirmed S

tanding by to be corrected (since there’s no time in the aftermath of BIBA week to delve into the archive), memory tells me that Minster (“Minster means Insurance” as the adverts on the sides of buses used to have it) begat Gan Minster, begat GAN Insurance, then became Groupama, with another line of ancestry stemming from the UK merger of Lombard and Continental equals Lombard Continental which became Lombard General. LGI was acquired first by Groupama and it was LGI that merged with GAN Insurance to form Groupama Insurances in 1999 after Groupama Group had acquired the stateowned GAN in France. And if we believe the

Groupama name imposed an outward show of stability, it has to be remembered that the French owners put the UK operation up for sale twice, and there were at least three distinct brand colour changes along the way – consolidating employment in the corporate gift sector for more than a decade. And now the Groupama people and products are to transform into Ageas Insurance, although the name will continue to be used as a legal description of the company until the Part VII portfolio transfer is complete. This portfolio transfer process has begun as the Financial Conduct Authority, Prudential Regulation Authority, and

François-Xavier Boisseau

Court approval is sought to change the Groupama Insurances legal entity to Ageas Insurance Limited. This is expected to be complete by the beginning of 2014. Insurance CEO François-Xavier Boisseau says the timing of the brand transition is dictated by the legal process. “But by a

happy coincidence it gave us the perfect platform at this year’s BIBA Conference to show brokers we are the same business with the same focus on delivery, but with a broader proposition and expertise. Over time, Groupama will become known as Ageas as we complete our portfolio transfer. “As we have said previously, our chief aim during this process is to deliver certainty and continuity to our brokers and partners. Both existing Ageas and Groupama products will continue to be available during and after the integration process and brokers will have access to our key people in the way they have always done.”

Ageas customer service categorised as world class M

eanwhile Ageas Insurance household claims and operations has been awarded the ServiceMark accreditation by the Institute of Customer Service (ICS) for customer service performance and professionalism in the UK. An ICS survey conducted by an 4 insurancepeople JUNE 2013

independent assessor of household insurance customers and employees recognised Ageas “as providing ‘world-class’ customer service”. The assessment team evaluated company characteristics including commitment, capability, consistency, professionalism, as well as an assessment as to

how easy it is to deal with Ageas. Andy Watson, CEO Ageas UK says the accreditation “signifies the tremendous focus our employees have placed on providing a world-class service to our customers. ICS specifically recognised that we are continually developing our products and services for our

Andy Watson

customers and have a trusting and supporting ethos engendered in our business. They identified our commitment to developing our people for the future.”

When does outsourcing = job losses? MGAA MD appointment imminent

in association with

Blanc adds to the debate Rasche golf event

Aviva silent on job losses

nsurers have always had to answer two thorny questions when outsourcing traditional tasks. There’s the obvious innuendo that inhouse performance falls short, coupled with the threat of job losses. Aviva, or Norwich Union as it was then, went through this during the offshore debate a decade ago, but the more recent announcement of future job losses raised the twin-prong questions yet again. The newshound’s enquiries were set in motion in early May following a press release announcing a new deal between Aviva and Innovation Group – a seven-year contract for a claims scoping and supplier management

solution expected to generate revenues for Innovation of around £1m per annum. The Aviva statement spoke of removing claims process complexity, creating fast decisionmaking, and reducing costs – which set the wires buzzing on both fronts. Were those skills lacking in-house? But more urgently, how did Aviva’s announced job losses tie in? Everyone knows that one man’s outsource opportunity is another man’s job loss. But we’ll never know. The press release was withdrawn within 90 minutes. A new version appeared six days later, basically unaltered except that “Unfortunately, Aviva is unavailable for comment at this stage.”

Rasche charity golf event

SP founder David Rasche recently organised The On Course Foundation Charity day for severely injured servicemen at Skipton Golf Club on 3rd June 2013 - the club where he learned his golf over 50 years ago. The players included 18 injured servicemen and ex-servicemen competing with teams from businesses all over the country in aid of the On Course Foundation. SSP also support the charity by raising money at their own golf events during the year, and two of David’s other businesses also fielded teams on the day. David Rasche’s eldest son, recently returned from Afghanistan, was also present.

MGAA begins search for first MD T

he Managing General Agents' Association (MGAA) has formally begun its search for a managing director. Chairman Reg Brown says that the growing scale and profile of the MGAA makes this the right time to appoint a fulltime MD, “to increase the Association’s activities in order to promote the importance of this sector of the UK insurance industry and ensure its regulation is fair. The main responsibilities will be to drive the Association’s strategy, execute its business plans, attracting a wide range of MGA members from across the UK, and developing its profile and representing the UK MGA sector as a whole.” The MGAA board will select a short list from

Reg Brown

applications by the middle of June and announce an appointment by the end of the month. The MGAA was launched in September 2011 and membership now represents a total combined GWP over £2.5bn, with 64 full members, 24 insurer members, and 26 supplier members. For more information visit www.mgaa.co.uk

More on the profession debate

P contributor Jamie Marchant stirred the pot in April on the 'industry or profession?' debate, his slant towards the ‘profession’ sobriquet being recently endorsed by the CII president. In her recent President's Letter published in the CII Journal (“The voice of your profession” no less...) Amanda Blanc offers some thoughts of her own. Continuing her

campaign for greater professionalism she asks everyone working within insurance to "buy-in" so as to "...really deliver and move us on from an industry to a profession". Red s it ops! o h A at W r AX losure o f s c face tent dis omer ust ver inad sitive c e n th of se ata by d ffice o g din Rea JUNE 2013 insurancepeople 5

market talk

What’s under the scrap metal mountain?

Scrapheap challenge

“

ast month’s scrapheap challenge teaser (inspired by the ‘Spitfires buried in Burma’ episode) was aimed at the insurance sector’s classic car and motor cycle enthusiasts for whom the day-job and their automotive calling coincide. Like footballers, or the man who used to be Marilyn Monroe’s dresser, they get paid for doing a job they really enjoy. So what classic treasure would you like to discover under a 100 foot mountain of scrap metal? And the choices are not restricted to automotive marvels, as one of these responses reveals:-

“

The question is an interesting one, and there would be so many cars I would like to find, own, and drive. I've been interested in all things classic since the age of 12 and had my first at 16 before I could legally drive! However it would have Gary Tyler to be something that I'd enjoy driving as I think all classic owners are show-offs to a certain extent. Otherwise why do we do what we do, other than to be different and noticed?

The Lamborghini Miura must be one of the best cars ever made, and was once the fastest production car in the world. It was in production between 1966 and 1972 and is widely recognised as the car that began the trend for the high performance, two-seater, Ashley Cole mid-engined sports cars that we love so much today. With an original price tag of around £13,000, one today could potentially be worth seven figures so this would be a great find. A rare 1971 Miura recently hit the headlines after it burst in flames so I'll be installing a fire extinguisher in my scrapheap classic!

”

Ashley Cole, Aqua Underwriting

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My dream find would be a railway locomotive, a British Railways Class 22 diesel-hydraulic locomotive as used in the West Country in the 1960s. Sadly these were all scrapped before railway preservation really got going, so will never be seen again.

”

Paul Asplin

Paul Asplin, Chief Executive Officer, DAS UK Group

All classic owners are showoffs to a certain extent

“

”

My personal choice of steed is a 1959 Ford Consul which I've owned since I was 19 and am currently restoring, so staying along with the 1950s’ theme which is the era I favour I would probably opt for something American given the size and the chrome. Given the climate and to make the best of the sun when we have it, I'd have to say a Ford Galaxie Skyliner with retractable hard top.

”

Gary Tyler, Development & Distribution Manager, Towergate Underwriting 6 insurancepeople JUNE 2013

“

My fantasy car would be James Bond's Aston Martin DB5. I’d love to find a Triumph 2000! This was the first car I drove after passing my driving test and it had a great engine sound.

”

Neil McGovern

Neil McGovern, Development Underwriter, Groupama Insurances, part of Ageas UK

in association with

DAS win BIBA scheme from Lorega L&G support for Time to Change

Lorega lose BIBA scheme C

oinciding with the time of year when football managers get dumped, BIBA has replaced Lorega with DAS as the provider for its loss recovery scheme, having thanked Lorega for its ongoing and long-term future support and wishing the company well in offering its suite of loss recovery products elsewhere in the market. Last October these pages featured The Lorega Story, a tribute marking the retirement of director, chairman, and founder of loss recovery provider Lorega Malcolm Harvey

who stepped down from day-to-day running of the business. His achievement commencing in 1999 had been to help pioneer the concept of steering commercial and high net worth policyholders towards the benefits of paying for a policy providing independent access to professional claims preparation and negotiation services. During those years Lorega saw little or no competition, but when DAS launched its Loss Assist service in 2012 I asked Mr Harvey as to his reaction.

He welcomed the arrival of such a large competitor into the field. “Things will now really get moving,” he told me. “I’m a great believer in open market competition. Having established the loss recovery market some fifteen years ago, we have been expecting a second player for some time now and, of course, imitation is the sincerest form of flattery. “The DAS launch absolutely validates everything we have been doing since 1997 and will certainly create even more

market and public awareness. From our perspective, this move by a major German insurer elevates Lorega and our product into mainstream insurance. It also demonstrates very clearly the growing need for an underwritten product that provides a loss adjuster to help commercial and HNW policyholders with their claims submission in the event of a major loss.” Imitation may indeed be the sincerest form of flattery, but losing one of your big-name schemes to a rival must still sting!

L&G sign the Pledge L

egal & General has signed up to the mental health anti-stigma pledge. The signing ceremony in London saw chief executive Nigel Wilson and MD of Legal & General Group Protection Jim Islam pledging their support to the promotion via Time to Change, a programme run by charities Mind and Rethink Mental Illness, towards a better understanding of mental health problems. Nigel Wilson says, “It’s vitally important that we talk about mental health and face it head on. The workplace is the best place to do this and I am proud to be showing our commitment to addressing

the stigma of mental health.” Jim Islam adds, “With one-in-four of us likely to be affected by a mental health problem in any given year, we are working together with our customers to address this challenge and making substantial efforts to raise the awareness of mental health issues through our own research and the Stress in the City campaign. Signing the pledge demonstrates our continued commitment to tackling mental health.” In 2012, L&G ran the Stress in the City campaign to raise awareness of stressrelated workplace

Nigel Wilson, Libby Peppiatt of Time to Change, Jim Islam

absence, and inform employers of the need to ensure the mental wellbeing of their staff. L&G’s research into stress and mental health in the workplace has also

included the use of DWP statistics, which reveal that only 17% of employers have any form of stress management advice and support in place for their employees. JUNE 2013 insurancepeople 7

market talk Conference comment from David Ross It’s back to Manchester for BIBA 2014!

BIBA Report F

ollowing the BIBA preview kindly provided by David Ross in our May issue, the CII director of communications has been persuaded to complete the before-and-after effect with this post-Conference comment:-

“

Wednesday morning saw Andy Homer, statesmanlike as ever, make his opening address. He managed to find the perfect mix of humour and gravitas, particularly in acknowledging the efforts of two of the industry’s great professionals David Ross – Eric Galbraith and Chris Hanks. It’s fair to say many of those in the broking profession had been surprised by the appointment of Steve White as CEO of BIBA, but his inaugural speech should have won over any doubters. It was extremely polished but equally passionate, and his thoughts on the future of BIBA where well received by those that had braved the DLR and made their way to Excel. Strangely a sizable number of the audience took the opportunity to leave the auditorium when FCA head honcho Martin Wheatley took to the stage. Articulate and candid, he talked a great deal of sense, although detail on his plans for the broking sector remained, perhaps understandably,

absent. Speaking in the wake of Mr White’s challenging call for the regulator to take its tanks off broking’s lawn and focus on the banking sector, Mr Wheatley stood his ground and insisted the insurance sector was not as clean as it would like to think. Amongst the now expected high profile keynote speakers David Milliband was excellent, Sir Chris Hoy was inspiring and Hilary Devey was (unfortunately) neither... Outside in the exhibition area though things seemed a little subdued. The insurers had clearly decided that it was time to call an end to the increasingly costly annual challenge of creating the biggest showiest bar at the conference – Markerstudy were the obvious exception. In truth I suspect that alcohol played a much smaller part in this year’s proceedings than at any other BIBA. Similarly celebrities were less in evidence than in previous years – former England cricketer Andrew Strauss and strongman Geoff Capes were notable for their attendance. Special mention should go to Legal and General and Aviva whose vibrant yellow stands managed to clash – something that was compounded by the fact they were right next to each other in the exhibition hall – and to Bexhill UK Funding whose cuddly toy owls were undoubtedly the best freebie on offer. The CII stand saw significant interest in Chartered so perhaps this more businesslike BIBA is simply a reflection of the sector moving towards becoming a profession. David Ross, Director of Communications, CII

BIBA 2014 heads to Manchester f probably not the most important words spoken at the recent BIBA Conference by chief executive Steve White, they were certainly the most welcome. His closing address confirmed what I guess many of us were hoping (even us Southerners) - that next year’s event will be held at Manchester Central on Wednesday 14 and Thursday 15 May. That’s the good news. The even better news is that BIBA has signed a three-year contract with Manchester Central for its 2015 and 2016 conferences. Looking forward to it already. A sole occupancy venue. Everyone under the same roof – and what a roof! Hotels, restaurants, and bars all within a stone’s throw, so you can bump into old friends, and be reasonably certain that new acquaintances are sure to be fellow delegates. Chinatown within walking distance. A local transportation system that allows you to step on a tram

8 insurancepeople JUNE 2013

”

for a slightly longer journey within the city centre, with none of the claustrophobia brought on by being trapped on the dreaded DLR, or the equally overwhelmed rush hour Jubilee Line. Good call, BIBA!

in association with

Former Towergate founder joins Duffy Telematics to step up a gear?

Proverbs joins Ashgrove F

ormer Towergate executive director Tony Proverbs has joined Ashgrove Insurance. One of the original founders of Towergate joins the board of the Lancashire-based broker and holding company Northern Keep run by Steve Duffy. He therefore teams up again with Paul Dyer, a colleague from his Towergate days, and an existing board member. Steve Duffy: “Both Paul and Tony were involved in Towergate during their halcyon days. And Tony’s wealth of sales and

growth experience will help with our ambitious growth plans and need to press on to achieve our ambitions of becoming one of the North West’s premier brokers.” Tony Proverbs makes it clear that his is a support role. “Steve is doing a great job, with new business growth of 34% over the last 12 months, which we can build on through a mixture of organic activity complemented by portfolio deals – and there are a number of small intermediaries in the area who are well below the radar of the big boys.”

Steve Duffy

What’s in a name? SoteriaDrive? S

o where did that name come from for a new telematics-based application for private car insurance available to high street brokers later this year? We’ll get back to that later, but meantime the name SoteriaDrive caught my eye at a launch at last month’s BIBA conference. I spoke with Jonathan Davey of SSP and Keychoice and telematics solutions expert Penny Searles MD at Wunelli about the market impact of app and smartphone developments in this field. The fruits of that interview appear on page 12 in this issue of IP. SoteriaDrive itself has been under development since early 2012 when research carried out in the runup to the Keychoice Conference revealed brokers’ concerns at competing in the motor market and the need for a telematics-based product. Over the last 12 months Wunelli and SSP developed SoteriaDrive to ensure a stable smartphone platform and a simple, cost effective proposition. I’m told the joint investment has been significant. Penny Searles: “We’re confident that the market is now ready for this type of initiative. Insurers are comfortable with the product and want to provide high street brokers with the opportunity to offer telematics policies. This is a great opportunity for insurers to help answer the needs of their broker partners.”

Jonathan Davey adds that five insurers will initially pilot. “We already have a number of major players close to signing on the dotted line and we’ll be releasing more information soon.” So, from the practical point of view, how exactly will a broker select SoteriaDrive for their client, and how will they be able to select one insurer over another? Jonathan explains that brokers will obtain a quotation via their existing SSP system from the panel of SoteriaDrive insurers. “Each insurer will set their own policy terms and conditions as usual. Ultimately it will be down to the price from that insurer and the cover the customer wants.” Penny adds, “Once the policy is incepted, the broker will provide a link for the client to download the SoteriaDrive app to their smartphone. This will record their driving behaviour and allow feedback on driving performance and any adjustment to the premium.” The team are providing broker support in the form of short explanatory videos which are available on the SSP website. See www.ssp-worldwide.com/SoteriaDrive So where did that name come from? SoteriaDrive? Penny says Soteria was the goddess or spirit (daimon) of safety, and of deliverance and preservation from harm. The Greek Soteria translates to deliverance, safety. So there you have it. JUNE 2013 insurancepeople 9

interview

Peter Matson PROJECT HEAD – NEW BUSINESS OPPORTUNITIES ARGO INTERNATIONAL

The best PR I can do is to pay a claim well

“

”

Take Five The Editor enjoys a coffee with Lloyd’s Underwriter Peter Matson

AN: It’s been my pleasure to have enjoyed the odd coffee or shared an occasional bottle of wine with many Lloyd's underwriters in my industry capacity, but I think this is only the second time I’ve ever done so wearing my press hat. PM: Well, if that’s the case, then I can tell you who the first one was – me! We had lunch back in 2004 when I was Chief Underwriting Officer at Novae. AN: Yes I remember it well, and we discussed your specialism in professional liabilities. But Lloyd's underwriters are generally a bit wary of the press, aren’t they? PM: Well, I don’t believe that’s true of all Lloyd's underwriters. True of some, of course. But I don’t think Lloyd's is unique in that – generally, most business people are wary of the press, that’s often because they’ve not always been given sufficient training as to how to talk with the press, and what they should, or shouldn’t say. I’ve never particularly had a problem talking to the press. I think you have to be honest and straightforward, and my own experience is that if you do that, then you will at least get a fair hearing. AN: Looking at your CV, you appear to have moved around quite a lot during the past decade. Do you get itchy feet to move on? 10 insurancepeople JUNE 2013

PM: Well up until 2003 I’d only ever had two jobs. I started work in 1970. With the benefit of hindsight I wish I hadn’t stayed in the same syndicate for 28 years – that’s too long to remain in one place. I wish I’d moved on earlier, and tried other things - some of the things I’ve done in the last ten years. Have I got itchy feet? Well, I like a challenge. I like to do things that are difficult, and unconventional. It’s often said of the Brits that they are not great managers generally, but if you’ve got a problem - then you hire a Brit. They are good at solving problems. Once you’ve solved the problem, bring in someone else to manage it once it’s running properly. AN: So it sounds as if you enjoy fixing things? PM: I do get a lot of stimulation when taking on roles that need some revisionary work undertaken. I’m very mechanical in my thought process. I liken it to taking an engine apart, finding out where it’s broken, replacing with a new part, and putting it all back together. Then tuning it up and off you go. AN: But when the fix is made, you lose some of the interest? Isn’t it good to rest on the laurels and take the rewards of a job well done – at least for a time?

PM: I think if you’re not careful, that’s how it can turn out. I’m at my best in the middle of a crisis.

at my best in “theI’mmiddle of a crisis ” AN: I also get the impression you prefer to run your own ship? PM: I have enjoyed being my own boss, but I also enjoy working for innovative individuals. What is true is I like decisive decision making! AN: A Lloyd's underwriter’s success, or otherwise, is generally thought to depend almost entirely on underwriting skill in making a profit for the syndicate. To what extent do other skills come into the picture? PM: Claims settlement! The best piece of PR I can do is to pay a claim well. It helps the broker, and brokers lose clients who have not been properly served. In the specialist professional liability sector, an underwriter strives not to have any claims at all – remembering that a single claim in these risks can be very substantial. But of course claims are going to happen, and I believe it’s beholden to behave well, and pay those claims well. That’s because most people are

I like to do things that are difficult and unconventional

“ suspicious that an insurer is going to argue and prevaricate. But to me it’s clear cut – when you have a claim to pay, then you should pay it. And don’t forget there’s a collateral benefit to the broker. He chose you. You’re the insurer he recommended to his client, and in some cases that may well have been in circumstances where you weren’t necessarily the cheapest. But the old adage is that you get what you pay for. And at the end of the day that’s what we are selling. We’re selling a claims service. Hopefully we don’t have too many claims; otherwise we go out of business. But when the claim does arrive, then I think the policyholder has an entitlement to believe we are going to behave honourably. And no amount of public relations work can beat that, because most people will feel good about insuring with you when they haven’t suffered the tortuous experience they may have been expecting, or that they have read about elsewhere.

AN: What’s your main aim when dealing with brokers? PM: I’ve always wanted to make it easier for brokers to do business with me. And the sort of broker I want to do business with is one who avoids the volatility that comes when brokers chop and change between suppliers. And reverting back to the claims front, if you are going to have arguments about a risk, always have those discussions before you go on risk, not after. Because once you are on risk, you, the insured, and the broker are all on the same side. AN: What’s your view on the current state of regulation and compliance? You once told me that while compliance is here to stay, there’s no accolade in being the best documented disaster in town! PM: Yes. Sadly experience has taught us that we do need compliance and regulation. That’s

”

because, for all of those who never deviated, and have always done the right thing, there has also been a small minority who - either through incompetence or design - have strayed off the straight and narrow. So I accept the unfortunate consequence that we all have to pay the price. But we should always be mindful that compliance doesn’t become over burdensome, to the point where the entrepreneurial spark goes out of the market, particularly Lloyd's. Lloyd's has always been the place to go to get something insured that’s never been done before, and I think we have to be careful that we don’t sacrifice that entrepreneurial spark as a result of greater and tighter compliance. There’s got to be room for innovation and entrepreneurial underwriting, pioneering underwriting. That’s what’s made London and the Lloyd's market the centre of the insurance world.

Peter Matson Specialising in professional indemnity, miscellaneous errors and omissions, directors and officers, medical malpractice, clinical trials insurance and legal expenses, Peter Matson joined general non-marine Syndicate 990 in 1974. In 1992 he was responsible for the creation of Denham Direct Underwriters, the service company of syndicate 990. He became deputy underwriter for the syndicate from 1986 until 1999, when he became active underwriter. Later he was a director of XL Brockbank. He has also acted as chairman of Denham Tower Underwriting Agents (Pty) Ltd; and chairman of Denham Direct Underwriters. In 2002 he became a founding director and chief underwriting officer of PRI Group. In 2004 he formed specialist underwriting agency Novae Underwriting Ltd. Novae Underwriting was a trading name of SVB Underwriting Services, a service company of SVB, whom Mr Matson joined in January 2004. In March 2004 he was appointed to the board of SVB Group Plc (later renamed Novae Group Plc) as Chief Underwriting Officer. He joined Argo International in 2011. JUNE 2013 insurancepeople 11

telematics

Jonathan Penny Davey Searles MANAGING DIRECTOR SSP PURE BROKING AND KEYCHOICE

MANAGING DIRECTOR WUNELLI

Telematics moves up a gear The recent BIBA conference saw the launch of a new telematics-based private motor policy available later this year, specifically aimed for use by high street brokers. The Editor invited two of the originators to discuss the potential market impact from these developments, and the thinking behind the new proposition amid the changing face of the motor insurance market AN: Telematics has moved on from the original idea of the ‘black box’ in the car to the smartphone app. How has that come about? JD: Until recently, using a hardwired black box was the only serious option for collecting driving data, but it was also expensive. Because of this it’s only been economic to install for premiums over £1,000.

But modern smartphone operating systems now open up telematics products to the mass market, and provide a low-cost data collection tool, allowing much lower risk, and lower premium drivers to be targeted, PS: The advancements in smartphone technology in creating apps that are more robust at collecting and analysing data mean that insurers are confident enough to use apps for the purposes of policy

administration. The technology is 99% accurate compared to a black box and allows us to develop a driver footprint.

Advancements in “smartphone technology and apps give insurers confidence

”

AN: Tell me more about the driver footprint? PS: Every individual has a driving footprint unique to them. This footprint is determined by a

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What does the future hold for usage-based insurance?

combination of origins and destinations and driving styles. Once we know the footprint – usually once 200 miles have been driven – we can be 99% certain the data delivered by the app will be accurate. We determine the footprint by going through a series of steps to validate the GPS readings, analyse the mileage, and ensure the data is legitimate. By comparing these results with driving behaviour parameters such as speed, acceleration, and braking, we can footprint a driving style. The final step is to pull all this information together to create a score on both the driving behaviour and data accuracy confidence level.

JD: You’re right, usage-based insurance has been around for some time without really taking off. But there’s now plenty of evidence of its potential, and that it will play an increasingly important role in the industry.

AN: We’re talking about a lot of very personal data here. What safeguards are there among all the parties involved – brokers, insurer, SSP, Wunelli?

PS: Up to now, telematics-based policies have, in the main, been targeted at specific sectors because of the high cost of data acquisition via black boxes. It’s only been economic for high premium sectors such as young drivers. However, with the advent of more accurate data collection capability using smartphones there is massive potential to sell telematics-based policies to lower risk, lower premium drivers.

PS: Wunelli guards the trip data and applies industry recognised standards to its collection, application and storage. AN: So who actually owns the data collected via the app? PS: As you say, driving behaviour data is personal data, so under the Data Protection Act it belongs to the driver and can’t be given to anybody else without permission. The Trip Data Controller will be Wunelli - we have over four years experience of capturing and managing the data effectively for some of the leading names in the insurance industry. AN: Telematics-based private motor is still only a fraction of the market – why do you think a product for a high street broker will make a difference?

Usage-based insurance has been around for some time without really taking off

“

”

JD: This is the market we envisage high street brokers capturing as part of the service they provide when arranging other covers for a household or business. There are many households with standard, mid-market risks or who have second or third cars driven less frequently where there is a real possibility of savings. The personal service, tailored to the needs of local customers lends itself very well to this proposition. PS: This is a great opportunity for insurers to help answer the needs of their broker partners. JD: Ultimately this is about driving down premiums for certain

sectors of the market that are prepared to have their driving behaviour monitored, but we are trying to emphasise that there is also the opportunity to improve your driving and your safety. AN: Looking at the relatively slow progress so far of telematics applications specifically to motor insurance as a whole, how do you think motorists will respond? What kind of volumes do you believe the market is capable of selling? JD: Who knows! This is a new initiative, but industry and telematics experts have been involved in the product and process design so we are very confident. However, more importantly we need to find a way forward for high street brokers, not just larger brokers and insurers. The brokers we partner with have proved highly resilient and have consistently delivered good quality business to their insurer partners, but we need to support them further by giving them the tools to compete, and this will!

envisage “highWestreet brokers capturing this market

”

PS: This is a tremendous opportunity for independent brokers to stay close to their clients’ needs and respond to the market, and I’m sure those that do will continue to thrive, whatever the market throws at them.

See also page 9 for more about SoteriaDrive JUNE 2013 insurancepeople 13

risk management

Andy Hawkes

Mark Preston

CEO CARDINUS RISK MANAGEMENT

HEAD OF SAFETY CARDINUS RISK MANAGEMENT

A Broker’s Guide to risk management – Part Three This month’s article covers the key elements of workplace safety risk management

The Safety process

etting the right process understood and in place lies at the core of workplace safety. It’s about common sense. Risks and hazards exist. The law doesn’t demand that risks have to be eliminated - just that they be understood, assessed, mitigated, and recorded, with training applied. And the arrival of Corporate Manslaughter legislation makes the need to manage workplace risk greater than ever. The maximum penalty is an unlimited fine, as well as compulsory ‘Publicity Orders' - a process in which the guilty company will be directed by the courts to publicise their shortcomings, highlighting to all the extent to which they were guilty of neglect. This could be catastrophic to business reputation and moral.

Safety Policy A written Safety Policy is a legal requirement for companies with five or more employees, but it’s a good idea regardless of size, to help defend claims and potential corporate manslaughter prosecutions. The Policy describes how a company will manage health & safety in the business and who does what, and when. The key is to make it effective so staff will read and understand it and more importantly engage with the concept of a safe place to work. 14 insurancepeople JUNE 2013

Safety Policy examples can be found at www.hse.gov.uk/simplehealth-safety/write.htm

Risk Assessment Assessing risk is all about reducing risks as far as is reasonably practicable then controlling them through active management. Some risk assessments are statutory and the Health and Safety Executive identifies a 5-stage process to risk assessment involving procedures and training.

Key Hazards Key hazards include:Hazardous substances: dealt with under the Control of Substances Hazardous to Health Regulations 2002 (COSHH) Asbestos: regulations cover duty to manage; identification of asbestos; assessment of work; licensing and notification of work; duty to prevent spread of asbestos; health records and medical surveillance; storage, distribution and labelling; and prohibitions Slips, trips, and falls: particularly avoidance and cleanup of spills with heavy emphasis on training, recording, premises inspections, and floor care maintenance

The fu ll down Guide can loade be charg d free of e f www.c rom

ardin

us.co

Noise: the Control of Noise at Work Regulations 2005 imposes duties to protect employees exposed to noise Other hazards include driving risks, work at height, and machinery

Fire safety at work Preventative attention attaches to good housekeeping; cleanliness; storage; machinery maintenance; flammable liquids; heating and lighting dangers; and fire drills.

Manual Handling Both employers and employees have responsibilities under The Manual Handling Operations Regulations 1992, with a strong emphasis on training. The Manual Handling Assessment Chart (MAC tool) is an interactive tool designed to help users understand, interpret, and prioritise the various risk factors associated with manual handling operations.

Workstation safety Recent years have seen the arrival of different types of device from laptops, to smart phones, dual screens and tablets etc. As businesses utilise these devices it’s going to be essential to understand the risks associated with screens, keyboards, desks, chairs, the working environment, and changing technology.

The full Guide can be downloaded free of charge from www.cardinus.com

“The ones that got away”

Another insurance ‘evader’ who had other ideas about any notion of following his father’s footsteps into insurance. Here’s a man who ran away to join the Foreign Legion!

Anthony Hunter-Choat (1936-2012)

orn in Purley, South London, Tony HunterChoat’s parents were Frederick, who worked in insurance, and Iris, a schoolteacher. Educated at Dulwich College and Kingston College of Art, he trained as an architect but then suddenly decamped in 1957 to join the French Foreign Legion. His distraught mother caught up with him in Paris, but she was too late – he had already signed up. Basic training took place in Algeria, then in the throes of civil unrest, and he then volunteered to become a paratrooper for a five-year term. In 1958 he fought at Fedj Zezoua, in the Algerian War of Independence, being awarded the Cross of Valour and the Médaille Militaire. When his term of service expired he returned home, where his father encouraged him to join the British Army. Not much is known of Frederick’s insurance role, but he must have been someone of senior stature and influence to get the War Office to overturn his son’s initial rejection for a short-service commission. Joining the 7th Gurkha Rifles (Duke of Edinburgh’s Own) and posted to Malaya, he was then sent to Brunei, Sarawak, and Borneo, where he fought in the Indonesian Confrontation. While in Borneo he transferred on a regular commission into the Royal Artillery as a forward observation officer until 1966, when he returned to Britain. Staff college attendance at Camberley in 196970 led to a posting in Hong Kong. He commanded 23 SAS until 1983, much of his work at that time still being on the secret list. From 1983-86 he was a senior staff officer at Nato headquarters and a special forces adviser to the Supreme Allied Commander Europe. His last post was a personal liaison between the Commander-in-Chief of BAOR and his American equivalent. He was appointed an OBE at this time. On retirement from the British Army he became commander of the Sultan of Oman’s special forces with the rank of brigadier. In 1995 he received the Omani Order of Achievement from Sultan Qaboos, retiring from his service two years later. 1998-99 saw him involved in the ceasefire in Kosovo, before becoming head of security for the Aga Khan. After the American-led invasion of Iraq in 2003,

Hunter-Choat became head of security for the Program Management Office (PMO), overseeing the distribution of funds for reconstruction projects throughout Iraq. There he briefly became embroiled in controversy after the PMO awarded a contract worth $293m to a private security company. A rival firm lodged a protest in the US Congress, but this was rejected, with no suggestion that Hunter-Choat had behaved improperly. He was later responsible for the security plans for US Aid in Afghanistan having become an accomplished lecturer on leadership and security issues. Tony Hunter-Choat was a Fellow of the Royal Society of Arts and a Freeman of the City of London. He was also a former president and secretary general of the British branch of the Foreign Legion Association. He was appointed an Officer of the Legion of Honour in 2001 and promoted Commander in 2011. JUNE 2013 insurancepeople 15

insurer panels

Liz Latter HEAD OF INSURER DEVELOPMENT HASTINGS DIRECT

Hastings Direct has come a long way since entering the market as a direct writer, choosing the direct approach rather than the intermediary distribution channel. But times – and views – change, and Hastings is not the only former direct writer to apply the trading advantages that multi-channel distribution can provide. Since then, Hastings has developed its insurer panel proposition and its affinity partnerships for its various brands. So, how important is the insurer panel? Liz Latter explains

ust to put the topic of the “importance of a panel” into context at Hastings - it’s all about partnership. Until relatively recently the lion’s share of incoming business was placed with Advantage, our inhouse insurer, and the panel idea had not been a priority for Hastings because the main focus was on stabilising the Advantage business and growing it profitably.

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It’s all about partnership But times change and our diversification plans are now very active. Panel growth is now an absolute priority. Diversification is welcome because it reduces dependence on any single insurer, and helps towards smoothing out the ups-and-downs of the various underwriting cycles. Plus, of course, it also increases our capacity and the number of customers we are able to insure. It supports our ‘1 in 10 vision’ – to reach three million customers by 2020. Our plans include increasing sales in products such as van, bike, and home as well as increasing the volume of business held by our insurer panel. We know there is a scale opportunity in panel broking, and my team is responsible for working with our insurers to grow the Hastings’ panel. The team itself has grown significantly over the last year to support the projected increase in business. And we are supporting that aim with several core competencies. For instance, our approach to anti-fraud has led the market in several initiatives that have carved a new philosophy of underwriting at the point of sale, rather than at the point of claim. And we pass those tangible benefits onto our panel insurers in the form of cleaner business which affects loss ratios for the better, as well as eliminating a significant degree of hidden fraud. Of course, while diversification among carriers can enrich an offering, it naturally introduces a challenge for uniformity. It’s a fact that

some insurers are more responsive and flexible than others. And responsiveness is key when working in a fast retail environment. That’s where another of our core competencies comes into play. Direct insurers can make frequent pricing changes, and as a broker we can do the same and help insurers achieve better responsiveness via the use of our systems. As I said at the outset, it’s all about partnership.

iz Latter joined Hastings in 2011 with the task of developing the insurer panel proposition and enhancing the affinity partner relationships in motor, home, bike and van cover for the Hastings various brands. Her previous business development and leadership roles within the insurance industry include working with The Broker Network as managing director of Redbox Systems, and heading the launch of the CoverMaker insurance portal in 2001. She later worked for Equity Insurance Group as managing director of brokersure.co.uk before moving to SSP as the manager for corporate business development, later taking on the role of head of KC Partners, SSP’s business network for brokers. More recently she worked at CGI as the head of the insurance practice in the UK, and joined Hastings Direct from Sapiens with whom she worked as director of business development for a short time.

he Reg Brown postcard collection takes us back one whole century to this very month (11th June) in this first postcard depicting the 1912 staff outing of the Sittingbourne district office of Prudential Assurance.

Only one piece of headgear in sight â&#x20AC;&#x201C; a flat cap interloper lurking on the stairs of the bus. The reverse of this card is depicted alongside in which it appears that Mr George Hollands of the Pru Supts Office at 140 Park Road, Sittingbourne, Kent has just recovered a postal order for a debt of 2/6d (12.5P) from a Mr Billings.

The following year

Step forward one year â&#x20AC;&#x201C; to 11th June 1913 - and wonder of wonders! One of three things has happened at the Pru in Sittingbourne. Either:1. The staff outing has been opened up to the ladies 2. The Pru has undergone a full-scale female recruitment programme PRUDENTIAL ASSURANCE CO., Ltd. SITTINGBOURNE DISTRICT STAFF OUTING to FOLKESTONE,

3. Wives and children have been allowed on the trip to Folkestone

June 11th, 1913. Mr. Geo. Hollands, Superintendent

Certainly George Holland attended both events, and there are some other potential dead ringers if you wield a magnifying glass. The fellow with the beard just left of centre on the top of the bus holding what looks like a clarinet could be the same man on the top far right at Folkestone. But then so could the man in the centre of the second from top row in the straw hat. The character on the far left with the distinct head tilt seems to favour that position in both photos. JUNE 2013 insurancepeople 17

Smoothing the future for motor claims

motor claims

Saleem Miyan believes that a joined-up services approach can take outsourced claims management to a whole new level

e all want to provide seamless, end-to-end customer service for our motor policyholders, commencing at first notification of loss (FNOL) and resulting in successful claim completion. However, with so many steps in the process often outsourced to numerous providers, communication breakdowns, delays, and being handed from adviser-to-adviser make for a frustrated customer rather than a delighted one. With customer satisfaction and retention at the forefront of our industry, there’s no place for displeased policyholders and disjointed systems. What’s needed is a fully integrated FNOL and claims management approach, combining multiple services delivering an optimal claims system, simplifying the journey for insured motorists and improving the process.

insurancepeople

To give a practical example, it’s best to put ourselves in the position of the motorist. Using a mobile app or dedicated contact number provided with their policy, they can call an expert adviser who will then handle the entire claims process using a ‘one-stop-shop’ approach. This could include collection of the policyholder’s damaged vehicle, provision of a credit or intervention hire vehicle where necessary, and organisation of body or glass replacement. Utilising one call handler to liaise with a policyholder, and manage the entire process enables continuity and promotes a flawless end-to-end customer experience. Minimising the inconvenience caused to the motorist, and building a rapport are evident benefits, and it’s about having the right people in the right place at the right time to expertly guide and support.

Saleem Miyan GROUP OPERATIONS DIRECTOR MARKERSTUDY GROUP

Adding to the clear customer benefits, for brokers and insurers there are other positives to introducing an integrated services claims management solution increased potential for customer retention; minimal administration when working with just one partner; and reduced costs that come with using more than one service from one provider. Surely, with these points in mind, embracing this methodology can only result in good outcomes? It’s exciting to think how its widespread adoption could potentially shape the future of smoother motor claims.

News Thomas Carroll opens west Wales HQ

homas Carroll Group has opened a new west Wales headquarters in the centre of Haverfordwest to serve existing and new clients in Pembrokeshire, allowing the group to build on its existing client base in maritime, engineering and manufacturing. Recruited to run operations are Simon Lawrence and Martin Colley, both joining from Antur Insurance. Pictured: Thomas Carroll executives pictured outside the Haverfordwest office are, left to right, Martin Colley, Robert Jones, Brynmor Williams, Simon Lawrence and Dafydd Jones 18 insurancepeople JUNE 2013

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News

Optima Classic Bike available on Open GI

roupama Insurances, soon to be Ageas Insurance, has now made its Optima Classic Bike cover available through Open GI. This follows closely on the extension of

availability of Optima Classic Car to Open GI and SSP. The company adds that the programme of software house rollouts will see SSP following shortly for Optima Classic Bike. The cover is for motorcycles over 25 years old. As well as an agreed value of up to £100,000, policyholders have tailored mileage, repair options and cover for toolboxes. Subject to referral, cover can also be extended to include commercial use, such as on a film set or at a photo shoot. Ian Pritchard, personal lines development underwriter, says, “Like Optima Classic Car, Optima Classic Bike was designed in direct consultation with classic vehicle clubs and owners and is offered with agreed value on Full Cycle EDI. With a maximum value of £100,000, we cater for all but the extreme end of the classic motorcycle market. “Through this development, we’re making it as easy as possible for brokers operating in the classic bike market to do business with us and capitalise on the key spring and summer season when classic bike owners typically like to get out on to the open road. Through Open GI, they can deliver a tailored and streamlined service to classic bike owners with the promise of competitive premiums.”

LV= launches caravan insurance

Farm insurance inspector's 40 years

V= has launched a new caravan insurance, with caravan equipment and awnings covered as standard, giving protection for items such as beds, generators and bottled gas equipment. The policy includes cover for accidental damage or theft of the caravan anywhere in the British Isles and for up to 60 days in Europe. It also covers the cost of hiring another caravan if the customer’s is not usable and cover for loaning the caravan to family and friends, as standard. There is a range of optional extras that can be bought separately to allow customers to tailor their cover to their individual needs. Annual European cover, holiday let cover, caravan contents and personal belongings cover, can all be added to the policy.

nsurance inspector Jeff Kincaid has celebrated 40 years of service with Cornish Mutual at Truro farmers market (pictured). He joined the company in May 1973, aged 17, when he started on a salary of £49.40 a month. In 1986 he became an inspector and he is estimated to have covered 500,000 miles visiting clients in Redruth, Stithians, St Agnes and Feock.

Marsh acquisition in Peru

arsh is acquiring Peruvian insurance advisers Rehder y Asociados Group. This business includes the insurance broker Rehder y Asociados and employee health and benefits specialist Humanasalud. Terms of the transaction were not disclosed. Marsh says that the transaction, which is anticipated to close in the second quarter of 2013, will give it a “ … clear leadership position in one of South America’s best-performing economies”. The combined entity will operate under the name Marsh Rehder. JUNE 2013 insurancepeople 19

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News

Sterling rewards loss adjusters

terling Insurance recently hosted its first annual Licensed Loss Adjuster Awards lunch in London, at which the winners, as voted by Sterling claims staff, were: Neil Baldwin (vrs Vericlaim), Claim of the Year; Mike Bond (vrs Vericlaim), Commercial Lines Licensed Loss Adjuster of the Year; Terry Diamond (QuestGates), Personal Lines Licensed Loss Adjuster of the Year. Garry Simmons, head of property and liability claims, comments, "We

have invested heavily over the last few years in our loss adjusters who form a massive part of the claims service our clients experience. It was vital from our perspective that anyone representing our company followed our service ethos and as such, we introduced the concept of issuing individual Sterling Insurance licences to selected qualified adjusters within each firm. Only these licensed adjusters are allowed to handle our claims."

Pictured: Award Winners (L-R: Neil Baldwin of vrs Vericlaim, Terry Diamond of QuestGates, Mike Bond of vrs Vericlaim)

esure deploys Cordys for claims management

ordys, the Enterprise Platform provider, reports that esure has deployed its Business Operations Platform, to improve its claims handling procedures and cost control of third party claims. The platform aims to improve business operations through SOA-based integration, process automation and case management. Cordys has integrated the existing policy, product and payment systems and introduced a new fully automated interface with the Ministry of Justice for handling third party injury claims.

20 insurancepeople JUNE 2013

18 months jail for car crash fraud

t the Old Bailey on May 23 Kevin Heartbreak was sentenced to 18 months’ jail after admitting that he insured scrap cars with Aviva under assumed names and then reported the cars were in accidents. Also, while trading as Thunder Storm Cars, he lodged bogus damage and whiplash claims, as well as car recovery and storage claims. Aviva referred the case to the City of London Police Insurance Fraud Enforcement Department, and an arrest followed.

Jelf six-month revenues up to £35.9m

nnouncing its interim results for the six months to the end of March 2013, Jelf reports revenues 1.9% up on last year at £35.9m. EBITDAE increased by 14.3% to £5.1m. Revenues in the insurance business were up 0.7% at £23.4m; employee benefits revenues were up 4.7% at £8.8m; and financial planning revenues were up 2.9% at £3.6m Alex Alway, group chief executive, comments, “The trading environment in which the group operates is challenging and competitive. It reflects the wider UK economic problems. Our clients are predominantly owner managed businesses and related individuals. Our performance reflects their situation. The outlook in the short to medium term continues to look challenging. We are continuing to invest in growth initiatives and in further efficiencies.” * * * * Jelf has also announced the acquisition of The Insurance Partnership Services, expanding the Jelf footprint in Hull, Leeds and York and reinforcing its presence in the West Midlands with an office in Wolverhampton. Jelf says that the combining of two Chartered insurance broking firms “ … creates a major force within the affinities marketplace, according to the Finaccord Survey 2013, which establishes Jelf as the second largest schemes and affinities broker”. Alex Alway says, “During the course of negotiations we have realised just how culturally aligned our two businesses are. We firmly believe we have built one of the most professional and consultative insurance broking propositions available in the UK; and both teams are excited at the prospect of working together.”

Towergate retains chartered status

New industry claims working group

owergate Insurance has announced the renewal of its Chartered Insurance Broker and Chartered Insurer status. Towergate gained chartered status as an independent broker in 2007, and this was followed in 2010 when Towergate Underwriting Group achieved the award of Chartered Insurer. More than 3,000 Towergate employees are now CII members, with more than 900 currently studying for CII qualifications. “This charter,” it says, “demonstrates

Towergate’s commitment to the highest professional standards and its mandatory approach to professional qualifications”. Fiona Andrews, group head of organisation development, says, “Renewing our chartered status is absolutely integral to the advice and service we provide to our customers and brokers. This is a clear signal to our customers that we are at the forefront of raising professional standards in the General Insurance industry and something of which we are rightly proud.”

esure GWP £124.2m in first quarter

ollowing its flotation and admittance to the London Stock Exchange on March 27, 2013, esure Group reports GWP of £124.2m for the first quarter of 2013, an increase of 1.6% on the same period of 2012. On core brands gross written premiums were up 3.4% at £120.2m, with motor increasing by 3.1% to £99.2m and home by 5.0% to £21.0m. Stuart Vann, CEO of esure, says, “Our inaugural quarterly performance as a listed company is in line with management’s expectations for profitable growth and

continuing momentum in the development of ASR and broker revenues. While the motor market remains competitive we are already starting to see the anticipated benefits of gender-neutral pricing in higher retention rates for the Sheilas’ Wheels book and expect to see the benefits of civil justice reforms including LASPO1 later in the year. With our strong operational and product performance and robust financial position, I remain confident about the outlook for the first half and the year as a whole.”

IBA has joined with the ABI and the Chartered Institute of Loss Adjusters to start a new claims working group. Terms of reference of the group are: “to engage positively with the FCA thematic review; to discuss ways to enhance the customer’s experience and understanding of the claims process; and to foster wider public understanding of the role of the insurance industry in meeting claims”.

Plum re-launches HomeWorks product

lum Underwriting, which specialists in household insurance, has re-launched its HomeWorks product to incorporate cover for the property owner’s general contents. HomeWorks is designed to be for policyholders renovating, refurbishing or extending their homes, where the building works are too extensive to appeal to HNW insurers. Plum has also updated its HSB security backed policy wording to automatically include subsidence to the existing structure as standard. Managing director David Whitaker, says, “Having planned their projects over the winter months, many owners are now busy engaging contractors and getting ready to begin to build, but it is vital they don’t overlook the importance of purchasing the correct insurance cover. “While this demand creates a prime opportunity for brokers to win new clients or cross sell to existing policyholders, they need access to specialist products. By refurbishing HomeWorks we aim to help our partners grow this important sector of their businesses by carefully underwriting the risks often excluded by the mainstream insurance markets and presenting their clients with a sophisticated one stop shop product.” JUNE 2013 insurancepeople 21

insurancepeople

News

CCV acquires Waveney Insurance Brokers C

ullum Capital Ventures has announced the acquisition of Waveney Insurance Brokers and its subsidiaries, Waveney Insurance Brokers Commercial and Waveney Group Schemes. Group MD Graham Cook and schemes MD David Malone will remain with the business along with 74

employees from its three sites in East Anglia. Waveney was established in 1964 specialising in commercial business and claims to be the UK’ s largest provider of driving school and driving instructor insurance. The commercial division also targets SME customers

and offers dedicated expertise in offshore and energy risks. Towergate Group CEO Mark Hodges says, “Waveney is a successful business with an impressive history. It is well known across the East Anglia region for providing specialist insurance at a local level. We are

Mark Hodges

delighted to welcome Waveney into the Towergate Group and firmly believe that the business will add tremendous value to our broking operations.”

QuestGates to act as Sterling’s liability claims department

uestGates has been awarded a long-term contract by Sterling Insurance to act as its liability claims department. QuestGates will provide a dedicated claims handling unit providing technical expertise, loss adjusting and associated services, located

within its corporate claims solutions division in Birmingham and dual branded Sterling at QuestGates. Garry Simmons, associate director and head of claims at Sterling Insurance, says, “We undertook a detailed process

Work starts on CDL’s new campus

DL group chairman Tom Hogg was joined recently by Eamonn Boylan, chief executive of Stockport Council, for the ground-breaking ceremony to mark the beginning of the construction of CDL’s new river-front campus in Stockport. The initial stage of the multi-million pound programme will see the construction of a 30,000 sq ft office building, including landscaping along the river-front. The scheme is designed to accommodate a growing workforce, with CDL anticipating the creation of 100 jobs over the next two years. Tom Hogg comments, “CDL has been based in Stockport for 35 years and has strong ties to the local area. In order to meet the growing demand for our insurance products, based on the increasing popularity of

22 insurancepeople JUNE 2013

for two reasons; firstly to decide how best to structure our liability claims handling capabilities in order to respond to the MoJ reforms, and secondly to determine the best partner to bring on board to help develop our proposition. Our conclusion was that outsourcing this

function would provide the best result for our business, our broker partners and their clients. The expertise and experience of the team at QuestGates together with their track record for developing bespoke solutions made them the obvious choice of partner.”

telematics and mobile platforms, it was necessary that we continue to expand. This new campus means that we can continue to offer new IT jobs to people in the local area, meeting the needs of our customers and investing in the town that has been our home since 1977.”

CDL founder Tom Hogg assembles with staff and Stockport Council chief executive Eamonn Boylan to break ground at the new riverfront campus.

Ageas tool for assessing employee aptitude W

ithin its Broker Sales Academy, Ageas is now deploying a capability insight tool, developed by “engagement specialists” Pobi, to provide a onestop view for assessing the capability of the business. From recruitment and induction through to performance and career development, the tool identifies the skills and knowledge necessary for the Ageas broker business to develop now

and maps development milestones for the future. The software takes the form of an on-screen dashboard, which identifies the strengths and weaknesses of employees and recognises ways to refocus competence depending on the business need and individual objectives. Mark Cliff, CEO of Ageas retail and distribution in the UK, comments, “We are proud of the relationships we’ve

built up with our brokers, partners and customers and our Sales Academy is evidence that we’re committed to providing a consistent level of knowledge and expertise to all of our customers. We’ve been working with young and innovative company, Pobi, to create an analytical framework that helps us to harness, develop and measure our skills and knowledge consistently. Not only does this approach benefit our

Mark Cliff

customers, but it promotes personal development from within the business. It’s important to us to grow our own talent and, when complemented by consistent processes and training, we can be confident that we offer a first-class service.”

Motor Claims – Standing out from the crowd With all the recent changes have you been looking for the right long term claims partner to compliment and enhance your service offering? Are you completely happy with your current provider? Why not speak to us? We are more than a middle man with a service platform developed to provide an outstanding comprehensive claims model geared at delivering the very best results for you and your clients. So call us now and speak to Alex Dolman, Head of Internal Sales & Development on 01827 308663 or email alex.dolman@rtasolutions.co.uk

We would be delighted to become your choice of claims partner. JUNE 2013 insurancepeople 23

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News

Swinton and SSP in new five-year agreement S

SP has renewed and extended its longstanding relationship with Swinton, to provide IT facilities for its branch network, call centre and web-based operations. Under the five-year agreement, SSP will provide Swinton’s personal lines broking systems alongside new technologies designed to support Swinton’s business plans. Swinton will also adopt SSP Quote Hub, to enable greater data enrichment at point of quote and work with its insurer partners to deliver

product innovation, allowing them to update their rates and products in real time. Welcoming the development of a partnership dating back to the 1980s, Ian Chapple, chief information officer of Swinton, says, “Over the last few years SSP has been a vital technology partner within our overall IT strategy, supporting Swinton’s growth into a true multi-channel organisation and facilitating product diversification. SSP has an excellent track record of service, performance and

innovation with us, and having them alongside Swinton for the next stage of our journey, with their outstanding industry experience and solution portfolio, is absolutely essential.” Laurence Walker, SSP chief executive, adds, “Swinton has always been at the forefront of the industry, adopting innovative solutions to improve its efficiency and differentiate its service. Since we launched SSP Quote Hub just over 12 months ago to provide links

Laurence Walker

to third party data providers to validate and enrich quote data, we’ve seen an explosion in the use of data. By adopting our industry leading hub Swinton will be able to further develop its use of data and sophisticated rating in conjunction with their insurer partners to deliver even better service to their customers.”

Aon congratulates Sir Alex

First proposals emerge from BIBA strategic review

on, principal partner and global shirt sponsor of Manchester United, has congratulated Sir Alex Ferguson on his retirement as manager. A statement from the company says, “Aon is proud to have had its name on the front of the famous Manchester United jersey during the last three years of Sir Alex Ferguson’s tenure as manager. It is a measure of Sir Alex’s remarkable achievement that his career at Manchester United is as long as the existence of the 26-year old Aon brand.

24 insurancepeople JUNE 2013

“Sir Alex leaves as one of the greatest managers of all time, and as a leader who knew how to empower results for both the players and the club. His record of success and talent development in particular is without equal. Whilst Sir Alex would be the first to say that no one individual is bigger than the club, his quest for excellence and winning performance over the course of two and a half decades is a shining example of leadership to the worlds of both sport and business.”

ollowing its strategic review, BIBA has proposed an overhaul of its governance structure and a new model for segmenting its membership in order to provide them with a more tailored approach to their needs. Among key proposals so far is a recommendation for a new model separating members into five segments – small firms (north) with turnover of less than £1m; small firms (south) with turnover of less than £1m; larger firms with turnover of greater than £1m; networks, aggregators, MGAs and other distributors; and London market and

international members. Each segment would have representation on the main board. Also recommended is an overhaul of the main board structure, altering its size and constitution to better reflect how BIBA segments its membership. BIBA will be launching a three-month consultation with members about the governance and segmentation proposals later this year to ensure that their views are heard. This will be followed by an extraordinary general meeting at which the BIBA membership will have the opportunity to vote on the proposals before them.

Sterling launches cover for legal services

BPS renamed as Bluefin Network

terling Insurance has launched Executive Professions for Law, aimed at the legal services sector. Kevin Donoghue, head of commercial, says, “Our highly successful Professions product has proved ideal for many businesses, but feedback from our broker partners indicated that their clients in the legal sector had more specific requirements and would benefit from a more tailored offering.” Adding to the cover provided in Sterling’s current Professions product are: deeds and document cover up to £250,000 at the premises or any third party storage site, including transit; billable hours included within gross revenue definition; up to £250,000 for residential property in course of conveyance; nondamage denial of access up to £25,000; key personnel business interruption extension following death or disablement; increased limits for computer breakdown, property damage and business interruption extension limits.

luefin Insurance’s broker network, previously known as Broker Partnership Services, is renamed Bluefin Network. David Hopwood, managing director of Bluefin Network, says, “Our new name is a better reflection of the business and what we do. Our philosophy of partnership will, of course, remain the same. We will continue to work closely together with our partner brokers and support the continued success of their businesses. Bluefin Network gives brokers across the country the opportunity to continue to develop their own businesses, and we hope to be able to help many more broking businesses as the network continues to expand.”

Sheilas’ Wheels Facebook distribution for brokers

he Sheilas’ Wheels Facebook distribution channel has been extended by esure to offer premiums for Sheilas’ Wheels Broker. In March Sheilas’ Wheels began offering cover via Facebook. It has since worked with CDL to link the Facebook app to the Strata platform and enable access for Sheilas’ Wheels Broker.

Ageas UK profit up 38%

Hiscox GWP up 12.3%

n the first three months of 2013, Hiscox Ltd had gross written premiums of £506.1 million, an increase of 12.3% over the first quarter of 2012. The company reports that this was driven by local E&O business in all regions, and internationally traded property and reinsurance, plus a “very benign” first quarter for claims.

Bronek Masojada, chief executive, comments, “Fortune has favoured the industry this quarter. For Hiscox, the absence of any catastrophes and growth in profitable lines has delivered a very good start to the year. We are in a good position to benefit from rate rises in the US casualty market and it is pleasing to see substantial growth here.”

eporting on results for the first quarter of 2013, Ageas UK says that net profits were up 38.0% at £19.4 million, with the overall combined ratio improved from 102.3% in the same period of 2012 to 99.9%. Total income was down 0.3% to £511.3m, in an “ ... increasingly competitive market”. Non-life GWP was 0.7% down at £442.4m; total inflows from retail businesses down 8.9% at £47.7m; and protection GWP up 41.3% at £21.2m. Andy Watson, chief executive of Ageas UK, says,“It’s very pleasing to see the strong rise in our profits and an overall improving performance in our combined ratio, in what is typically a tough first quarter for the industry. Our acquisition of Groupama Insurances is beginning to have a positive impact on our result and the integration process is going well. There are some market-wide challenges, particularly in Motor where premiums are reducing, which is having an impact on income. Our focus continues to be on disciplined underwriting, creating long term, sustainable returns for Ageas and our brokers, clients and partners.” JUNE 2013 insurancepeople 25

News

insurancepeople

Sterling broker survey reveals confidence in future

Charles Taylor “in line with market expectations”

he Sterling Insurance Group Annual Broker Survey reveals that brokers are feeling confident about meeting the growth challenge. Asked to state whether they thought business would change over the coming year, almost twothirds responded that their business would improve overall. The outlook for commercial lines also appears positive, with 60% believing that business from these lines will improve while almost half believe that personal lines business will improve. David Sweeney, Sterling Insurance director, personal lines and commercial, comments, “I think that the overall response demonstrates the true resilience of the broking sector. These are hard times to weather, but those that have continued to market their businesses proactively and focused on

David Sweeney

improving the skills of their people are coming through the storm and see a brighter future ahead.” He concludes: “In challenging times, businesses need partners they can rely on to help them meet their financial goals and continue to grow. We’re committed to doing all we can to support our broker partners and I’m delighted to say that the feedback we’ve received through our survey indicates we’re on the right track. 83.4% of our broker partners are very satisfied with the relationship they have with us.”

harles Taylor plc reports that in the period from January 1 to May 8 2013, the group performed “in line with market expectations”. The company says that the mutual insurance companies it manages continue to perform strongly, and that the new marine hull insurance it launched in the period has been well received. Regarding the group’s adjusting services, Charles Taylor reports initial indications that work levels on larger, more complex

claims have started to rise, while cash collections and activity to reduce working capital levels remain on target. David Murock, group chief executive officer, says, “Charles Taylor has had a steady first quarter and we continue to make progress in delivering our business strategy for growth. Our efforts to reduce operating costs across the business and initiative to drive down the Group’s debt continue to make headway.”

Law Society president at DAS

he president of the Law Society, Lucy Scott-Moncrieff, visited DAS at its premises in Bristol recently, accompanied by Matthew Still, Law Society south-west regional manager, and Samantha Gallagher, Law Society ABS manager, to mark the recent launch of DAS Law and to hear about their experience of the ABS licensing process.

Exclusivity key, shows survey

survey conducted by Barbican at the BIBA conference indicates that brokers see exclusivity as a key attribute of insurers in terms of helping them retain their independence; 69% of those interviewed saw this as the most important factor. The importance of products offered was highlighted by 24%, while 5% cited the insurer’s distribution channels. Asked about the factors regarded as most important in building a partnership with an insurer, 36% ranked sustainability top, followed by quality of communication (31%) and differentiators ((21%). 26 insurancepeople JUNE 2013

Pictured: Lucy Scott-Moncrieff (left) and Kathryn Mortimer, MD of DAS Law.

On the move Who’s going where? ProSight

Helen Andrews

Open GI Open GI appoints Helen Andrews as group head of marketing and PR. With over twelve years’ experience, she was previously head of marketing at Powerplace and also held senior marketing roles at Business Link.

Argo Argo International appoints David Harris as managing director of Syndicate 1200 at Lloyd’s. With over 25 years’ experience, he was international development director, syndicate managing director and chief operating officer at Amlin and has also held senior roles at AXA Insurance and RSA.

ProSight Specialty Underwriters appoints Colin Smith as operations manager. With over twenty years’ experience, he joins from Mitsui Sumitomo where he was syndicate operations manager and has also worked as a programme manager for Lloyd’s with roles at Aspen Re, Equitas and Bowring Insurance Brokers.

Daniel Tatam

Barbican Barbican Insurance appoints Daniel Tatam as UK property & casualty underwriter. He joins from

VEHICLE SERVICES Collection, storage and sales

NIG where he was technical trade underwriter and previously held roles at Aviva, Sterling Insurance, and First Light Underwriting Agency. Christopher White joins as a professional indemnity underwriter. He previously held the same position at CNA Insurance, also worked at First City Partnership as a broker/account manager and Dickson Manchester & Co as a placing broker.

Pioneer Junction Junction appoints Sharon Stephen as corporate partnerships director. She was previously Junction’s associate director, corporate partnerships. Sharon Stephen

Pioneer Underwriting appoints Jonathan Matthews as chief operating officer. He joins from Ryan Specialty Group Europe where he was group chief operating officer and has also held roles at Liberty Syndicates and Beazeley.

Towergate Towergate appoints Tony O’Gara as retail broking regional managing director for the North. Joining from Willis where he was regional director for their corporate and commercial operations in the North, he has also worked at Griffiths & Armour and Marsh. John Neill is appointed as managing director of broking business for Newcastle. He joins from UK Warranty and worked for Towergate from 2003 to 2012, most recently as head of business development within Broker Network, and has also held roles at Aon and Lycetts Insurance Brokers.

Bluefin

David Harris

In association with

Bluefin Professions appoints Bobby Payne as broking director. He was previously operations manager at Jelf Professions and team manager at Alexander Forbes/Lockton. Adam Burton is appointed as account manager. He previously worked at Heath Lambert, Blackmore Borley, and as team leader of affinity renewals at Lockton. Nick Wakefield is appointed as account broker and he previously worked at RBS Insurance. Alison Pugsley is appointed as account broker and she previously worked for Aon in the UK and Australia.

Bhavik Desai

Markel Markel International appoints Bhavik Desai as an underwriter in its professional and financial risks division. He joins after seven years at AIG where he was most recently an underwriter and team leader in their professional indemnity division. JUNE 2013 insurancepeople 27

On the move Who’s going where?

Andrew Elliott

Purple Partnership Purple Partnership appoints Andrew Elliott as development manager for the South. He joins after 30 years at NIG where he was most recently a business development manager.

Towers Watson

DUAL

Towers Watson appoints Michael Murphy as managing director of its risk consulting and software business in Europe, Middle East and Africa. With over twenty years’ experience, he previously led Towers Watson’s RCS operations in continental Europe, Ireland and South Africa and has also held roles at Aviva Insurance Europe, Aviva Ireland (formerly Hibernian), Canada Life Europe and Watson Wyatt (now Towers Watson).

DUAL appoints Jennifer Martin as underwriting and binder management officer at DUAL International and will also lead the After the Event Insurance division as managing director. She was previously DUAL’s underwriting director of financial lines for the UK. Jeremy Isaacs is appointed as underwriting

Marsh Marsh appoints Richard Moxon as leader of its private client services division. He joined Marsh in 2009 as a senior client manager and previously worked at Zurich as an appraisal manager.

IFB The Insurance Fraud Bureau appoints John O’Roarke as chairman. Currently managing director of general insurance at LV=, he was a founder of ABC Insurance (acquired by LV= in 2006) and has also

John O’Roarke

28 insurancepeople JUNE 2013

Michael Murphy

been chief operating officer at RBS Insurance and managing director at Churchill Insurance. IFB appoints Danny King as business development manager. He was previously strategic relationship manager at AXA Insurance where he had also been head of bespoke, strategic key account manager, strategic partnership manager, area development manager and account manager, and before that was a senior commercial underwriter for Guardian Royal Exchange.

In association with

VEHICLE SERVICES Collection, storage and sales

Jennifer Martin

director – commercial. He was previously Dual’s directors’ & officers’ underwriting manager.

Xchanging

FSCP

Xchanging Claims Services appoints Paul Bermingham as executive director of claims. With 25 years’ experience, he joins from Crawford & Company where he was vice president, global markets and has previously worked at Claims Management Group and The Insurance Service. Samantha Oliver is promoted to the role of acting chief adjuster for professional and financial lines. She joined in 2012 as a senior claims adjuster and replaces Dennis McEleney who leaves the business.

The Financial Services Consumer Panel appoints Sue Lewis as the new chair. She is currently the consumer advocate member on the Chartered Insurance Institute’s Professional Standards Board and is a trustee of the Personal Finance Education Group and debt advice charity Stepchange.

IFoA The Institute and Faculty of Actuaries has appointed Nick Salter as president-elect for 201314. Currently the senior partner at Barnett Waddingham, he has also held various volunteer roles at the IFoA including assistant examiner and chairman of the support executive committee.

Jasan Fitzpatrick

Premium Credit Premium Credit appoints Jasan Fitzpatrick as general counsel. He joins from Northern Rock where he was general counsel and company secretary.

by Andrew Newman

‘Alarums & excursions’ in the night J

une is the month when the annual BIBA gettogether produces enough anecdotal fodder to fill this column, and allow the writer to blatantly reprise stories that posterity deserves. But, “Enough, no more! ‘Tis not so sweet now as it was before” as Shakespeare coined it. ●

So, with that resolution, and staring at a blank page waiting for words, there’s nothing for it but to seek inspiration from the news sheets. And there it was straight away! Durham CC romped home with six wickets to spare against Nottingham at Trent Bridge on 2 May. But it was the headline that really caught the eye – “Durham escape hotel fire and steal victory”. It seems the Durham cricket team were woken around 4am and had to find alternative beds. Some slept in another hotel while others kipped down in the team bus for the rest of the night. H’m… hotel fire… Nottingham… May-ish… Worth a reprise? No, I’ll never get away with it. ●

Just for the record, I looked back to see “wot I wrote” about the 1980s BIBA

Nottingham hotel fire, and memories of the unnerving sight of delegates and spouses trudging down the staircase at 2am in nightwear of every shape and hue. I can promise that was a vision not readily forgotten, and still indelibly imprinted on the mind. And, as one delegate said to me afterwards, it was very

interesting to see who was coming down the stairs with whom. So words like ‘fire’, ‘alarm’, and ‘Nottingham’ went into the PC search facility. No dice. Further delving using ‘pyjamas’, ‘negligee’ and ‘nightshirt’ were equally negative. I even tried ‘nightcap’, a mode of nocturnal headwear

here was a time when BIBA Conferences took place under one roof, with delegates and guests herded together in a hotel for the whole three days (it may even have been four days then). This was, I think, BIBA’s first visit to Nottingham. (The later infamous Nottingham Robin Hood epic was some way off in the future). A rather pompous CEO had taken time out of the office with his lieutenants to attend the Nottingham bash. He’d grabbed a top floor suite for himself and his wife, while his team and their spouses slummed it on a lower floor. Part of his pomposity was to always carry around a large briefcase – one of

in association with:

favoured by former London & Edinburgh man Ralph Tilbury. * See footnote below So the following tale has never apparently appeared in print, shoving Shakes’s fine words at the outset down the drain. My final unsuccessful throw on the word search was ‘briefcase’, for reasons now to be revealed:-

those big ones with curved sides. No one knew exactly what he kept there, but “important board papers” was the usual answer he gave. It was heavy, and while the team were happy to oblige when they were in his company, the sight of him entering a hotel foyer with his wife following two paces behind with the briefcase was a familiar sight. When the alarm went off, and with the smell of smoke wafting up the stairwell, the team had time to grab their important belongings and join the fancy dress procession down the stairs. Alas, the CEO, being on the roof, chose an external fire escape which unfortunately took him and his wife over the rooftops across the block and deposited them, alone, into another street, among late-night passers-by amused by their night attire. In this garb they then had to walk the whole block to regain entry to the hotel, and ring the door bell long after all the other pyjamaclad guests were back in their rooms fast asleep. And his poor wife carried the briefcase the whole way in her fluffy slippers!

* More details of this nocturnal fashion statement and the manner in which it came to knowledge will be revealed next month… unless Mr Tilbury replies to my blackmail note JUNE 2013 insurancepeople 29

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