Modern Insurance Magazine Issue 60

mins with...
Ola Jacob
Title: Independent Insurance Advisor
QWhat is your most memorable achievement whilst
working in your current role?
AMy mind still considers the creativity and
complexity of Heroes and Villains. These characters
are often born from the same tragic story, yet their
paths diverge drastically. The hero, driven by empathy
and compassion, endeavours to prevent others from
experiencing the same pain. The villain, consumed by
anger and hatred, seeks to inflict that pain on the world.
However, there are no clear distinctions between good
and evil, and the intentions of the character do not always
align with the consequences of their actions. Some villains
think they are heroes, and vice versa.
Insurance can be a murky world filled with labyrinth-style
policy wordings and elaborate claims procedures, and it
is easy for us to become villains in the eyes of the public.
I have made it my mission to transform the narrative
surrounding insurance and present us as the heroes we
are. By combining parametric and indemnity insurance,
we have the power to revolutionise the industry. I am
deeply honoured to have been named the ‘Technology
Champion of the Year’ for pursuing this goal, but there is
still so much work to be done. Together, we can transform
insurance into the hero we all need.
QWhat piece of advice has been the most valuable
to you?
AAlways remember the importance of emotional
intelligence and the need to give back to others.
Not surprisingly, all of my sponsors - Dominic
Christian, Tom Gallagher, Darren Powell, Matthew Pike,
Steve White and Jane Keilty - echo the same advice and
practice what they preach. They will all be included in the
book that I refer to later.
QWhat has been the key positive or negative
impact of change in your area of the market?
AAs someone who has covered the length and
breadth of the country, conversing with brokers
and underwriters about the potential of parametric
insurance, I have witnessed first-hand how change can
be both challenging and refreshing. However, I have been
heartened by how receptive and enthusiastic everyone
has been about embracing new ideas. The benefits of
incorporating rapid payouts into policies to help mitigate
losses have been outstanding, and we have successfully
transformed a niche concept into a mass-market
enhancement for thousands of businesses in the UK and
the US. Of course, there are still many more companies
that could benefit from parametric insurance, but the
pressures of deadlines and targets can often make it
difficult to explore new ideas. Even so, I am confident
that the willingness to adapt and innovate will ultimately
triumph in the end.
What three items would you put on display in a
museum of your life and why?
QThis is by far the hardest question, and I needed to
get help from my family and friends to come up with
Aan answer. The first item would be a ‘Gold Bar’ - not
a real one, but a white chocolate biscuit from McVities. This
seemingly insignificant biscuit holds a deep meaning for
me, as it represents my first taste of seizing opportunities.
When my classmates were risking expulsion by scaling the
school gates to visit the local shop, I had the bright idea
of bringing the shop to them, beginning my chocolate and
sweets empire at the age of thirteen. The ‘Gold Bar’ was my
bestseller.
The second item would be a globe treasure chest filled with
relics from my travels and adventures. This chest serves as
a reminder of the vast array of perspectives and insights
that different cultures offer, as well as the beauty and
diversity of our world.
The third and most important item would be a hardback
book called ‘No One Has Ever Achieved Anything Alone’.
The book will contain a personal note of gratitude to all
those who have helped me along the way. From mentors
and colleagues to teachers and my opinionated brothers,
I’m eternally grateful for their support.
What three guests would you invite to a dinner
party?
Q
A
In case my brothers are reading this, my answer
assumes they are already coming. Otherwise, they
would take the first two seats.
Julius Caesar, faced with countless obstacles and
adversities, is arguably one of the best negotiators in
history. He always had problems to solve, but he found
a way to look at the bigger picture and ultimately bring
enemies and contrasting viewpoints together.
Aurore Dupin Dudevant. She was so determined to succeed
and didn’t let anything stop her; she did the impossible,
creatively using a male pseudonym ‘George Sands’ when
female writers were not recognised at that time. This
reminds us that we can be whatever we want to be despite
what society has to say about it.
Finally, Mansa Musa. An African emperor whose wealth and
generosity is legendary. Some historians believe he was the
wealthiest man in the world. The lost stories of Africa have
always fascinated me, and who better to tell this story? It’s
an inspirational tale of good prevailing over greed.
MODERN INSURANCE | 57