Modern Insurance Magazine Issue 63

ISSUE
63
ISSN 2515-3803
CREATIVITY
is the beating heart of
any successful business
Pushing the
Boundaries
with Chris Lee, Exante
Meaningful
Customer Offerings
with The Green Insurer
Creative
Moves
with Dr. Michael Bloomfield
Europcar:
Consumer Duty and
Consumer Expectations
for Replacement Vehicles
INSUR.TECH.
TALK
Insurtech Insights
2023 Contributors Media Partners

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WELCOME
Hello readers!
Welcome to Issue 63 of Modern Insurance Magazine, where
we’re talking all about the ‘New Kids on the Block’.
The insurance industry faces a crisis; not just in terms of skills and talent, but also in
relation to innovation and creativity. Businesses risk being left behind if they fail to
move forward and consider unique ways of ‘doing insurance differently’, but how do
you go about taking that first step?
We caught up with Chris Lee, Founder & CEO of Exante Parametric Insurance,
to discuss some of Exante’s latest innovations. How does Predictive Parametric
Insurance take the concept one step further, and what implications will this have for
our insurance industry moving forward? Turn to p.12 to find out…
Amelia Barlow, Editor
Our first issue of the New Year also sees Modern Insurance Magazine in
conversation with Meitav Harpaz, CEO & Co-Founder of Pattern (p.14), and Paul
Baxter, CEO at The Green Insurer (p.15), to look at some other innovative products
and services that appear to be making waves across the sector.
As ever, there’s a diverse selection of thought leadership contributions from our inhouse
Editorial Board, starting with Carpenters Group on p.17. You’ll also find several
articles from our pool of esteemed industry associations from p.31, not to mention
our collective of fraud experts writing for the very first time from p.47.
An issue of Modern Insurance Mag wouldn’t be complete without our valued INSUR.
TECH.TALK section (in partnership with Insurtech Insights), bringing you the most
up to date viewpoints from the world of insurtech through a series of captivating
interviews and thought leadership contributions.
From all the team here at Modern Insurance Magazine, I wish you all the best for a
healthy, happy and prosperous 2024!
Until next time,
Amelia
Rachael Pearson, Project Manager
Amelia Day Barlow,
Editor,
Modern Insurance Magazine.
amelia@charltongrant.co.uk
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ISSUE 63
ISSN 2515-3803
Editor
Amelia Barlow
Project Manager & Events Sales
Rachael Pearson
Modern Insurance Magazine
is published by Charlton Grant Ltd ©2023
All material is copyrighted both written and illustrated. Reproduction in part or whole is strictly
forbidden without the written permission of the publisher. All images and information is collated
from extensive research and along with advertisements is published in good faith. Although the
author and publisher have made every effort to ensure that the information in this publication
was correct at press time, the author and publisher do not assume and hereby disclaim any
liability to any party for any loss, damage, or disruption caused by errors or omissions, whether
such errors or omissions result from negligence, accident, or any other cause.
MODERN INSURANCE | 3

14
Contents
12
64
15
14
68
4 | MODERN INSURANCE

8
12
14
15
17
35
47
44
55
57
59
61
63
Insight
Creative Moves, by Dr. Michael
Bloomfield, Anthropologist,
Executive Creativity Coach and
Founder of Creative Unseen
Interview
Pushing the Boundaries, with
Chris Lee, Founder & CEO, Exante
Parametric Insurance
Introducting FlexIt, with Meitav
Harpaz, CEO and Co-Founder,
Pattern
Meaningful Customer Offerings, with
Paul Baxter, CEO, The Green Insurer
Editorial Board
Find out what our editorial board
panel of industry experts have to say
in this edition of Modern Insurance
Magazine.
Associations
Assemble
Modern Insurance’s panel of resident
associations outline the burning
issues in insurance.
Fraud Board
Don’t miss our inaugural instalment
of The Fraud Board, where our
collective of fraud experts convene
to discuss the key factors affecting
the fight against fraud in our
industry today.
Features
FMG: Simplicity, Transparency,
& Speed
I Love Claims / ARC 360: Skills
Stalling Business Growth
Best Practice and Use of
Technology: Q&A with Ian Carman,
Sedgwick International UK
The New Kids on the Block,
by Michael Lewis, CEO, Claim
Technology
Just a Thought… with Eddie
Longworth: Living in a Parallel
Reality
Learning from Leaders: How C-Suite
Thought Leadership Promotes
Business Growth, by Flo Powell,
Joint Managing Director, Midnight
Communications
64
67
Europcar: Consumer Duty and
Consumer Expectations for
Replacement Vehicles
10 Mins with...
10 minutes with... Ellie Webster,
Former Chair of the Next Generation
Insurance Network (NGIN)
Insur.Tech.Talk
Interviews
69 Welcome
Megan Kuczynski, President,
Insurtech Insights
70
71
360 Digital Immersion
Lisa Wardlaw, President and Founder,
360 Digital Immersion
Insurtech Groups
Jeff Shi, Founder, Insurtech Groups
72 FINEOS
Chuck Johnston, Chief Marketing
Officer, FINEOS
73 PLRB
Bryan Falchuk, President & CEO,
PLRB
74
75
76
77
78
79
Alchemy Crew
Sabine VanderLinden, CEO, Alchemy
Crew
Roloff Consulting
Ema Roloff, Co-Founder, Roloff
Consulting
Google Cloud
Nigel Walsh, Managing Director –
Insurance, Google Cloud
Adrian Jones
Adrian Jones, Insurance Investor and
Advisor
Nassau Re
Paul Tyler, Chief Marketing Officer,
Nassau Re
Insur.Tech.Talk
Editorial Board
Experts from the insurtech sector
join us once more to share their
unique insights!
INSUR.TECH.TALK BOARD
Disclaimer: Our publications contain advertising material submitted by third parties. Each individual advertiser is solely responsible for the content of its advertising
material. We accept no responsibility for the content of advertising material, including, without limitation, any error, omission or inaccuracy therein. We do not endorse,
and are not responsible or liable for, any advertising or products in such advertising, nor for any any damage, loss or offence caused or alleged to be caused by, or in
connection with, the use of or reliance on any such advertising or products in such advertising.
MODERN INSURANCE | 5

Editorial Board
17
NEW KIDS ON THE
BLOCK
Sarah Pickerill, Head of People,
Carpenters Group
REINVENTING THE
INDUSTRY THROUGH
DATA
Will Prest, Product Manager,
ParaCode
19 REVOLUTIONISING
PROCESSES AND
OPERATIONS WITH DATA
ANALYTICS
21
23
Jim Loughran, CEO, e2e Total Loss
Vehicle Management
EMBRACING NEW
INSIGHTS
Andrew Ballard, product principle,
LexisNexis Risk Solutions
EDAM GROUP: A PLACE
FOR CONTINUOUS
LEARNING
Rebecca Chappell, Head of HR,
EDAM Group
THE FUTURE IS BRIGHT
Simon Hunt, Commercial & Services
Director, National Windscreens
ARE APPRENTICESHIPS
THE SOLUTION TO THE
REPAIR INDUSTRY’S
SKILLS CRISIS?
Danielle Chruszcz, People Director,
Activate Group
25
27
29
31
QUICKFIRE QUESTIONS
Natalie Wong, BASF Automotive
Refinish UK & Ireland
NEW AND BETTER
THINKING
Chris McKie, Managing Director,
Vizion Network Limited
REVOLUTIONARY
PROCESSES AND
OPERATIONS AT RGI
SOLUTIONS
Sarah Glenn, Commercial Director,
RGI Solutions
LEARNING FOR THE JOB
Lisa Bartlett, President, UK & Ireland,
Crawford & Co.
CREATE THE NEW,
TRANSFORM THE OLD
Andrew Chander, Sales Director,
FMG
THE FUTURE LEADERS OF
ACCIDENT REPAIR
Dave Sargeant, Managing Director,
Gemini Accident Repair Solutions
CREATING PATHWAYS
TO ATTRACT NEW
TALENT
Mick Jennings, Managing Director,
Nationwide Vehicle Assistance
(NWVA)
Editorial Board Contributors
6 | MODERN INSURANCE

EUROPCAR
NEW BRAND BLOCK
Color gradient background
File: 20151645E
Date: 7/10/2015
AC/DC validation :
Client validation :
33
NAVIGATING THE
JOURNEY TO DIGITAL
Marc Holding, Managing
Director, The Vella Group
Insur.tech. talk and
Editorial Board
SHAPING OUR
WORKFORCE FOR THE
FUTURE
Tom Rumboll, UK Managing
Director for IAA, and CEO of
SYNETIQ
The Fraud Board
47 WELCOME
Mark Allen, Head of Fraud and
Financial Crime, Association of
British Insurers (ABI)
49
51
SYNECTICS SOLUTIONS
Richard Daley, Insurance Director,
Synectics Solutions
FRISS
Martyn Griffiths, Sales Manager
UKISA, FRISS
53 MARSHMALLOW
Ash Jackson, Head of Fraud,
Marshmallow
66
67
68
69
70
71
72
73
41
75
Welcome - Bradley Collins, Chief
Commercial Officer, Insurtech
Insights
AXA Retail - Tara Foley, CEO of AXA
Retail
Munich Re - Dr. Fabian Winter, Group
Chief Data Officer at Munich Re
EIS - Anthony Grosso, CMO of EIS
37 BIBA
Zego Even - Sten Regulators Saar, CEO Have of to Zego Adapt
Vannessa Young, Compliance,
Sustainability and Advisory Boards’
Aon Manager, - Marguerite British Soeteman-Reijnen,
Insurance Brokers’
Chairman Association Executive (BIBA) Board, Aon
Holdings
MGAA
Arma MGA Karma sector - set Ben to Smyth, push ahead CEO, in 2024
Arma Mike Karma Keating, CEO, Managing General
Agents’ Association (MGAA)
Revolut - Balázs Gáti, Global Head of
Insurance, Revolut
APIL: Rebuilding Shattered Lives
BIMA
Mike
- Mathilda
Benner, Chief
Strom,
Executive,
Co-Founder
& Deputy
Association
CEO,
of
BIMA
Personal Injury Lawyers
(APIL)
WTW - Pardeep Bassi, Global
Proposition CHO Leader – Data Science,
WTW
Stewart McCulloch appointed
Independent Chair of the GTA
Anthony Hughes, Chair and CEO, Credit
Insur.Tech.Talk
Hire Organisation (CHO)
39 APIL
Editorial Board
NBRA
Digital Skills enhance the Automotive
Experts
Industry
from within the Insurtech
sector Thomas and Hudd, beyond National share their Technical unique
insights. Manager, In this Nationwide issue, we Bodyshop look at Repair
balancing Association automation (NBRA) with customer
satisfaction, the concept of ‘digital
transformation’, FOIL and how new signals
point FOIL to Members technology elect as a Pete solution Allchorne to as
address President economic concerns.
Pete Allchorne, President of the Forum
of Insurance Lawyers (FOIL) and
INSUR.TECH.TALK
Partner, DAC
BOARD
Beachcroft
43 MASS
Flaws Persist in the OIC
Sue Brown, Chair, Motor Accident
Solicitors Society (MASS)
CII
The Tide is Turning
Dr Matthew Connell, Director, Policy
and Public Affairs, Chartered Insurance
Institute (CII)
MODERN INSURANCE | 7

INSIGHT
Creative
Mo
ves
The ‘counter intuitive rationality’
of Mikhail Tal shows us how
to think about creativity in the
financial sector.
8 | MODERN INSURANCE

INSIGHT
Dr. Michael Bloomfield
Dr. Michael Bloomfield is an Anthropologist, Executive
Creativity Coach and Founder of Creative Unseen, a
platform which provides tools and training to help
organisations increase their creativity.
We all now know (or think we know) that creativity is
at the beating heart any successful business in the 21st
Century, because it serves as the driving force behind
all innovation. The World Economic Forum’s Future
of Jobs Report 2023 concludes that today, creative
thinking is second only to analytical thinking as a vital
skill in the world of work.
But what of insurance? It’s not uncommon for the
insurance industry to be viewed as conservative and
routine-bound, given its risk-mitigating nature. Yet to
stay relevant and competitive, companies and their
leaders need to shift their approach from hyperconventional
to more imaginative, and even perhaps
experimental, if they are to satisfy the WEF’s vision.
However, for creativity to be truly and wholeheartedly
embraced in such a sector, a change is required in how
creativity is understood as a phenomenon at a much
deeper level than the standard platitudes afford.
So, what is creativity really, and how can it apply to
insurance?
Two of the biggest misconceptions about creativity
are that (a) it is exclusively for ‘creative’ people like
designers or artists, and (b), that the outputs of
creative thinking are obviously ‘creative’ ideas like
designs, inventions or stories.
This is simply wrong. As I explain in my book Creative
Being, creative ideas are, at root, any ideas in any field
of human endeavour that are valuable (or useful), new
(or unique), and counter intuitive (or non-obvious). All
three factors need to be present for something to truly
count.
Let’s look at an example of highly creative thinking in
an apparently uncreative context by considering the
case of Henry Ford. In 1914, he took the administrative
decision to double all his workers’ wages overnight in
order to address high staff turnover and low morale.
Within two years, profits had doubled at the Ford
Motor Company, staff turnover was slashed, and
his workers were able to buy the very product they
were making, which unsurprisingly made them all far
happier. His decision was clearly a valuable one, not to
mention unheard of at the time. In other words, it was
a new and unique idea.
How about the third criterion of counter intuitiveness?
You need only look at the response from the supposed
economic experts. The Wall Street Journal responded
with a fulminating editorial that read, “To inject ten
millions into a company’s factory, and to double the
minimum wage, without regard to length of service,
is to apply Biblical or Spiritual principles into a field
where they do not belong. [Henry Ford] in his social
endeavour has committed economic blunders, if not
crimes.”
Such outrage and contempt point to just how counter
intuitive Ford’s decision really was. But their intuition
was wrong, and Ford was not only right, but creatively
so.
As someone who writes and speaks about creativity,
my focus tends to be on counter intuitiveness, simply
because that is the hardest kind of thinking to achieve.
But why?
It all comes down to the natural way our minds
work, including so-called cognitive biases. These are
tendencies which arise from our categorising brains
which may help us to think more efficiently in general,
but which can often cause significance problems or
errors in how we make decisions, perceive things,
remember things and reason about things. What’s
important to grasp is that such biases often lead us to
irrational conclusions.
MODERN INSURANCE | 9

THE
FUTURE
OF NOW
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INSIGHT
Take the cognitive bias called the Semmelweis reflex. It
describes the tendency to reject (as if by reflex) new ideas
or new evidence because they contradict established beliefs,
conventions or paradigms. Ignaz Semmelweis was a Hungarian
physician who in 1847 discovered that when doctors washed
their hands between seeing patients – many of whom would
die – childbed fever mortality rates among birthing women fell
tenfold. Yet his conclusion (that the doctors themselves were
the cause of childbed fever) was rejected by fellow doctors,
many of whom felt that a ‘gentleman’s hands’ simply could not
possibly transmit disease. Others just viewed the idea as not
fitting the theories of the day, and thus plain incorrect.
To cite an even more relevant case for the insurance industry,
a common cause or exacerbating factor in disasters of various
kinds is the normalcy bias. This is the refusal to adequately
plan for, or react to, a disaster because it hasn’t happened
before. The Titanic’s sinking in 1912 was almost inconceivable,
which led to inadequate planning by White Star Line and illjudged
behaviour on the day by many of those on board.
Such biases are interesting because they are both irrational
and intuitive – by which I mean natural, automatic, instinctive
or default. They guide our assessment, decision making
and recall to such an extent that it often makes little or no
difference whether we consciously apprehend their effects or
not.
Therefore, being rational very often means overcoming what
feels and seems right or intuitive to us even when it’s wrong. In
other words, it means thinking in a counter intuitive way, and
that is a central plank of creative thinking.
For anyone working in what you could call a rational sector,
like insurance, it is therefore important to understand that to
be creative really means being rational in a counter intuitive
way. Counter intuitive rationality is the key concept that I think
can and should make those working in the financial world
realise that they need creativity, and need it now.
Among the very best examples of rationality going hand in
hand with creativity comes in the form of counter intuitive
chess moves that work. Latvian grandmaster and former
world champion Mikhail Tal was famed for his daring, bold and
imaginative attacking play. He was known for decisions that
seemed crazy, like sacrificing his queen, which soon proved
to be the height of shrewdness. In Tal’s case, what seemed
irrational because it went against the intuitive reading (e.g.
that you must hold your queen at all costs) was in fact rational
because it afforded him a superior position and, in the end,
victory.
‘‘to be creative
really means
being rational
in a counter
intuitive way’’
So how can creativity make an impact in insurance? From an
organisational and mindset perspective, fostering creativity
starts at the leader’s desk. Whether this falls to the C-suite
or managerial teams, leaders must create a culture that
encourages innovative thinking at all levels. Google’s famed
‘20% Project’ policy allows employees to spend 20% of their
time on side projects that may or may not lead to creative new
contributions. Gmail emerged this way when developer Paul
Buchheit used this time to explore the idea.
In the insurance industry specifically, a startup like Lemonade,
one that leverages AI and behavioural economics, has
substantially reimagined the traditional insurance model.
Their creative approach to digital automation and customer
experience helped them do something interesting and
noteworthy, eventually leading to a successful IPO in 2020.
Practically, there are several steps that can be taken to foster a
more creative culture.
Relax your staff.
Scientific research shows that anxiety and stress can damage
creative performance. When under pressure and highly
concentrated, the brain exhibits fast beta wave activity which
is known to be associated with less creative idea generation
than when slow alpha waves (or even slower theta waves) are
present during a relaxed state.
Temporarily suspend hierarchy.
Whenever new ideas are needed, people typically turn to the
well-worn brainstorming approach. Yet the fact that numerous
studies demonstrate that on average, more ideas and better
ideas emerge when people generate concepts alone has so far
failed to kill off the practice.
There are, however, many ways to make brainstorming work.
One way is to anonymise people’s contributions. For example,
the chat-based online platform Creative Unseen enables teams
to use tactical anonymity to encourage a freer and more
expressive atmosphere, as well as a more democratic sharing
context that rewards good ideas on their merits, rather than as
a function of deference to seniority.
Be open to openness.
The only one of the ‘big five personality traits’ that is
consistently found to positively correlate with creativity is
‘openness to experience’. Being willing to listen to alternative
views and consider alternative ways of doing things,
welcoming outside experts to come along to your company
and teach or train you in unusual ways, and simply being more
curious and tolerant of change, are all surefire ways of making
your culture more creative.
In each case, these strategies might seem counter intuitive,
especially in the staid world of insurance. But believe you me,
they are rational.
So, while technological advancements and data-driven
strategies are often at the forefront of today’s insurance
market, we mustn’t forget the power of creativity. As
pioneering retail advertising executive Bernice Fitz-Gibbon
once said, “Creativity often consists of merely turning up
what is already there”. By fostering creativity at every level,
insurance companies can truly turn up the dial on innovation,
competitiveness, and overall success.
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MODERN INSURANCE | 11

INTERVIEWS
Pushing
the Boundaries
with Chris Lee, Exante
Modern Insurance
Magazine recently
had the pleasure of
sitting down with Chris
Lee, Founder and CEO
of Exante Predictive
Parametric Insurance,
to discuss some of their
latest innovations.
How does Predictive
Parametric Insurance
take the concept one
step further, and what
implications will this
have for our insurance
industry moving
forward?
Q
Hi Chris, thanks so much for joining
me today! Let’s start by talking
about your mission at Exante.
How are you pioneering innovation in the
insurance industry?
A
I guess our mission has changed
somewhat from the very beginning,
but our initial mission – and the
thing that motivates me – is something
I really want to get back to, and that’s
addressing the insurance gap, specifically
the insurance gap relating to people that
need to get paid quickly. Some people
aren’t able to wait for their payout; perhaps
they’re in a financial crisis themselves,
or they could be business owners facing
some kind of commercial interruption.
Aidan and I both came into the industry
through working together at Hannover
Re, and as part of our respective roles
there, we dealt a lot with parametric
insurance. We discovered this mechanism
that had long been in existence for
governments and enterprises which
delivered fast funding to countries affected
by catastrophe, and we thought that
was fantastic. Why weren’t we doing this
for people on a more widespread basis?
I think a lot of people in the insurance
industry have forgotten what it’s like to live
paycheque to paycheque, and for those
who are struggling financially, the time
spent waiting for a claim to be paid can be
extremely distressing.
With this in mind, we questioned how we
could eliminate these delays, especially
when we know that a claim is legitimate.
This is where the concept of Predictive
Parametric Insurance comes in. By paying
people who are about to experience a
catastrophe before it actually happens,
our hope was to help people make better
decisions and change their behaviour.
By doing this, we can really do a lot to
change the outcome of their claim further
downstream.
We started with the idea of Predictive
Hurricane Insurance, in the hope that if we
paid people to drive out of the way of the
hurricane, this would enhance policyholder
safety and mitigate the extent of the claim.
Since then, our mission has pivoted a
little bit. We’re still focused on changing
behaviour and analysing how we can
encourage policyholders to make better
decisions, but we’ve altered our direction
slightly by looking at how we can promote
Net Zero and solar.
Q
How does the concept of Predictive
Parametric Insurance push the
principles of parametric insurance
further? What advantages does this bring
to the policyholder?
A
There are two primary advantages
to Parametric Insurance, and
that’s speed and transparency.
Transparency also changes people’s
behaviour, because when an insurance
policy is extremely reliable, they can act on
the basis of this very product existing in
the first place. With Predictive Parametric
Insurance, we’re taking this one step
further by looking at intervention and
behavioural economics - finding a way to
marry insurance with human behaviour to
intervene in a proactive instead of reactive
way to create better outcomes.
Hurricane Protection became our very
first use case; extending the philosophy
of insurance by acknowledging that
we have a trustworthy data source for
12 | MODERN INSURANCE

INTERVIEWS
hurricane weather forecasts, and paying
out on the basis of the fact that we can
receive a forecast percentage from the
National Hurricane Center. The big extension
from a regulatory point of view considers
the insurable interest there. We know that
someone evacuating their home in the
event of a hurricane will have expenses, but
could we persuade a regulator to allow us to
provide the costs upfront?
That particular extension of the principles of
insurance was a tough sell, and to overcome
this, we had to come up with a managed
distribution format. We settled on issuing
pre-paid cards with spend controls which was
really cutting edge, pushing the boundaries
of insurance much further than they’d gone
before. I’d really like to see other companies
take that and run with it, asking themselves
how we can use insurance to add value and
get the customer experience to the point
where the end customer is never out of
pocket. If they’re never out of pocket, we
can make insurance far more valuable to
financially vulnerable customers than ever
before.
Q
The ability to launch new products
within hours, not months, is a
true sign of how innovation is
transforming. In terms of what you have
launched to date, what has been the most
successful offering?
A
Our Parametric Sunshine Guarantee
insurance is a perfect example of a
product that we have been able to
launch in hours. We’ve been engaging with a
large insurance company and workshopped
this idea for Parametric Sunshine Insurance in
order to increase consumer trust in the sale
of solar panels. When a solar installer tries
to sell solar panels to a home owner, they’re
often a sole trader, part of the gig economy
or a small business. There’s been misselling
of solar before which has since resulted in
mistrust, but the fact is, switching to solar
energy can result in so many benefits, not just
for the environment but for home owners too.
Part of the sales pitch guarantees home
owners a certain number of hours of sunlight
per year. Every hour of sunlight has monetary
value, so we developed our Sunshine
Guarantee which takes the predicted
number of sunlight hours from the installer
and guarantees this to the policyholder.
In terms of being able to innovate quickly,
we came up with that product on the
Friday and had the data source, tracking
and all relevant historical Grid rates by the
Tuesday. Every other element of building an
insurance product still takes a lot of time,
but parametrically, we were able to get the
historical pricing and live triggers active
within a matter of hours.
Q
A
What new products can we expect to
see from Exante in 2024, and which
of these are you most excited for?
Sunshine Guarantee will be our big
scaling product in 2024, so that’s very
exciting. We’ve also built a product
called a ‘Business Continuity Indicator’
which takes daily volumes of global debit
card transactions, maps them on a grid, and
provides a heat map of business activity all
across the developed world. We’ve since
used that to create a dashboard for insurance
companies which can quickly verify business
interruption claims. This means that they
can input a location, input a date, and see if
fewer card transactions than expected were
put through the business in that day.
We’re hoping to move that from a claims
verification tool to something that looks a
little bit more like a claims notification tool,
and eventually something that looks like a
parametric insurance product. It’s a really
cool data set and we’re really excited for
that roadmap in 2024.
Q
A
What about elsewhere in the
market? What other innovations
excite you?
On LinkedIn, I talk a lot about the
insurance benefits that I see built
in to my challenger banking apps,
brands like Revolut who are offering better
embedded insurance options year on year.
I’ve personally seen the benefits from
parametrically triggered lounge access
when faced with travel delays; it’s totally
pro-consumer, and I’m really excited to
see it roll out across the board. Insurance
is on a journey towards becoming more
embedded and connected to everyday life,
so seeing companies work towards those
customer needs is wonderful to witness.
Q
Creativity and forward thinking
are both vital components
when it comes to launching
groundbreaking solutions. In your
experience, why do so many companies
fail when it comes to getting their
solutions past the ideas stage? How do
you prevent the same from happening
within your own teams?
A
In the 1800’s, there was a really
big industry around cutting
ice out of frozen lakes in North
America, and shipping the blocks
down to the South in the spring
months to utilise for refrigeration.
When technology developed and
fridges became commonplace
domestic appliances, none of
those ice companies evolved.
They all thought that their ice
shipping business was going
to remain dominant, and big
companies often fall victim
to this mentality. They don’t
tend to identify the risks that
are coming at them in their
peripheral vision; Yahoo had a
chance to buy Google, Kodak
had a chance to buy digital
cameras. It takes a lot of selfawareness
and introspection to
identify your own weaknesses,
and these qualities aren’t often
rewarded for juniors moving up
through the ranks of a company.
Single mindedness and confidence
is, and perhaps the way we choose
our leaders as a society needs to
change slightly in that regard.
In insurance specifically, creativity
and forward thinking will always
be tricky without the backing
of a giant. You just can’t
launch an insurance
product without
the backing of someone huge. Insurtechs
will always fall into the capacity gorge,
where you’ve got a new product, it’s really
interesting, you want to test it, but you
can’t get capacity to do so because it’s
not big enough. Then you flip into scale
up mode; you’ve got a cool product, it’s
working well, you want capacity, but all of
the nimble companies that could work with
you have their own preoccupations and
unique reasons not to. Not everyone can be
Lemonade!
I think this is going to be a problem in our
industry for a long time. Incumbents are
great, they’re welcoming and generous
with their time, but they move at their
own speed and you just can’t do anything
without them. Perhaps we need to focus on
attracting innovators from outside of the
industry in order to see things change in
this area.
We probably do fail to be creative in our
own teams sometimes. It’s a strange one as
a start-up, because you want to be focused
on a single goal but you also want to be
open to other opportunities and ideas at
the same time. At the moment, we’ve got
to be focused on perfecting what we’ve
already got in the pipeline. We always have
to question what the products look like to
the end user, and that’s always been our
test. So long as we continue to question
that, we’ll continue to be creative.
Chris Lee,
Founder & CEO,
Exante Parametric Insurance
MODERN INSURANCE | 13

INTERVIEWS
Introducing
FlexIt
with Meitav Harpaz,
CEO and Co-Founder of Pattern
Modern Insurance Magazine recently sat
down with Meitav Harpaz, CEO &
Co-Founder of Pattern, to discuss FlexIt, an
innovative new protection service in travel
insurance that aims to improve cancellation
flexibility for non-refundable bookings.
Hi Meitav, thanks so much for your time today!
Q2023 saw the launch of Pattern’s new product, FlexIt.
What is FlexIt, and how is it going to impact the wider
market?
A
FlexIt is an innovative protection service that turns any
non-refundable booking into a refundable one. FlexIt takes
the guess work out of refundable rates and turns it into
science, constructing the refundable rate based on factors such as
the brand selling it, the type of booking, the time of year, profile of
traveler, and so on. This allows brands that leverage FlexIt to offer
a highly robust refund program at affordable prices.
In recent years, especially following COVID-19, we’ve seen a
huge demand for refundable bookings. Traditionally, online travel
agencies could only offer rates that the suppliers (eg. hotels and
airlines) provided to them. FlexIt changes that by allowing each
selling entity to create their own refundable rates program.
Q
A
So, how long did FlexIt take to create from idea to
launch, and what key challenges did you face along the
way?
2023 was a huge innovation investment year for Pattern.
The result of this investment is our ability to release new
products to market that address protection gaps at a
more rapid pace, and we were able to get FlexIt out onto the
market in under three months.
FlexIt has a highly sophisticated Machine Learning algorithm
that has the ability to operate based on small datasets, versus
typical Machine Learning which requires big data. This was a big
obstacle that we were delighted to be able to overcome.
What other customer demands are you hoping to fulfil
by bringing FlexIt to market?
Q
With FlexIt, we do not just provide a refundable rate. We
also create an entire refund program for our customers
A based on their specific needs and objectives, whether
that is to increase ancillary revenues, increase conversion,
increase customer satisfaction, and more.
Q
A
How do you foster a culture of innovation at Pattern,
and how does this differentiate Pattern from the rest of
the market?
Truth is, we innovate organically out of necessity. We
have a relatively small development team, serving very
demanding customers in a higly regulated industry. This
is a survivability problem for any company who cannot innovate.
Our team, besides being very good at their job, understand
that they must be creative and highly innovative to solve the
challenges we face with the limited resources we have. This
understanding, together with a ‘can do’ attitude, created a strong
problem solving DNA for the company that is hard to replicate.
It continues to drive and foster innovation in everything we do.
Q
A
Meitav Harpaz,
CEO & Co-Founder, Pattern
Tell me about some other recent developments and
partnerships at Pattern. What can we expect from
Pattern in 2024?
Unfortunately, I cannot disclose much of our newer
partnerships and innovation just yet. What I can share is
that in 2024, our customers will be able to benefit from
more ways to increase the attach rates of different protections,
and will be able to add more channels to sell protections very
easily, with no (or nearly no) code development. For the time
being, stay tuned…
14 | MODERN INSURANCE

MEANINGFUL CUSTOMER OFFERINGS WITH
THE GREEN
INSURER
Paul Baxter,
CEO, The Green Insurer
Modern Insurance Magazine recently caught
up with Paul Baxter, CEO of The Green Insurer,
to discuss their recent launch and eco-friendly
offerings to the UK car insurance market.
Hi Paul, it’s great to catch up!
Q The Green Insurer is the UK’s first
environmentally-focused car insurance
broker. Would you like to tell me a little
more about the aims of this, and what
implications your work will have for the UK
car insurance market?
When we looked into consumer
attitudes and behaviours towards the
A environment, we found that the vast
majority of people are concerned (or very
concerned) about environmental issues and
global warming. Many are taking small steps
to address these concerns, but feel they
could do more with the right support and
guidance in order to achieve their specific
climate related goals.
When a customer takes out a policy from
us, we use technology to calculate a
policyholder’s fuel efficiency based on how
they drive, and the distances they drive. We
then measure their carbon outputs for every
journey, and offer reward points for driving in
a greener way. It encourages people to drive
in a more fuel-efficient manner and we also
offset their emissions, bringing three primary
benefits; a reduced carbon footprint, a saving
in fuel expenditure, and a safer way of driving.
Q
A
How are you negotiating with
insurers in order to offer better deals
for customers?
We have a range of insurers that we’re
already working with, or soon to be
working with. Big insurance companies
all have their own environmental objectives
and agendas, and it’s natural that many want
to find partners to help them achieve these
goals.
They also like the fact that fuel efficient
driving is safer, and there are positive
selection benefits associated with
policyholders who are environmentally
conscious. Ethically-minded policyholders are
likely to be more responsible drivers, and this
is also important to insurers when it comes to
measuring risk. These factors all work in our
favour when it comes to collaboration with
the industry.
What about collaboration
elsewhere? How are you partnering
Qwith other well-known brands to
deliver consumer rewards?
First of all, we want to address the
everyday help needed for the costof-living
crisis. People are struggling A
to make ends meet at the moment, so
anything we can do to provide a way of
making their pounds stretch further is
great. We’ve struck deals with all major
supermarkets for example, where we can
offer discounts through pre-buy vouchers.
This goes a long way in terms of customer
appreciation, offering a helping hand in
tough times.
We also wanted to add a range of
conservational benefits, and so we continue
to partner with environmentally conscious
businesses to offer ‘greener’ solutions for
policyholders. This could be through deals
with clothes swap businesses, eco-friendly
washing detergents, natural deodorants,
or encouraging the use of public transport
and Eurostar where possible to travel in
a more environmentally-efficient way.
Instead of taking a commission on those
deals, we pass savings and discounts back
to the customer, and we’re eager to keep
expanding this range of partners as part of
our ‘work in progress’ approach to building
on our existing foundations.
Q
A
So, how does effective use of data
and technology factor into all of
this?
Much of our use of data and
technology lies around monitoring
a whole range of activity. We’ve
got the insurance system, which allows
customers to review, make changes or
cancel their policy. Then we’ve got carbon
offsets and the allocation of reward points;
we communicate with customers every
two weeks to let them know how much
carbon they’ve offset in the last fortnight,
and how many reward points they have
earned. Then there’s the telematics side,
and there’s different businesses behind
all of these services who are tasked with
collecting and delivering this data to inform
our customers.
We’ve built a front-end system to all of this
via an app, which becomes our consumer
interface and shows everything the
customer needs to know, all in one place.
There are still improvements to be made,
but the framework is there now. Investing
time in getting this right from the very
beginning has been incredibly worthwhile
and has built us a truly meaningful
customer offering.
Q
A
How else have you amended your
company processes and operations
to adopt a greener approach?
We absolutely need to practice
what we preach! All of our
employees work from home, and
there are no plans for us to change this
in the foreseeable future. When we repair
customers’ cars, part of our terms and
conditions also state that they must be
repaired using green parts where available.
When you go onto our website, you can
see how much carbon has been used to
generate that webpage and how much
is being offset in this process. We buy
refurbished computer equipment for our
staff instead of new, and our business is
completely paperless, too.
Finally, we’re going through the B-Corp
accreditation process at the moment.
We’re less than one year old, which means
Corp Pending accreditation, and we’re
committed to becoming full B-Corp
members once we’re old enough! It’s
a really exciting time to be a forwardthinking
newcomer to the insurance
industry, and we’re really looking forward
to seeing where this journey takes us.
MODERN INSURANCE | 15

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EDITORIAL BOARD
New Kids on the Block
Attracting and investing in young people within
the insurance industry is crucial for our future. We
have seen the landscape shift with the huge growth
in apprenticeship programmes and social mobility
initiatives to attract mainly young and diverse people
into our profession.
Diversity of thought, background and lived experience brings fresh
perspective and innovative ideas to an industry that is continually
evolving. By exploring the topic of ‘new kids on the block’, we would
be wise not to neglect the vast wealth of talent and experience that
late career changers can bring; perhaps those who have had a taste
for retirement and a different lifestyle during the pandemic, but still
wish to seek fulfilling employment.
Inspiring a new and diverse generation of talent in insurance ensures
an effective transition of knowledge and expertise. Closely aligned
with reverse mentoring, both new and established employees can
learn from each other in an environment where psychological safety
and trust is key.
We are now operating in organisations where we can have five
different generation categories employed alongside each other. It is
not difficult to appreciate the importance that diversity of thought
can bring; engagement factors for a 16-year-old apprentice is likely to
be very different to those nearing the end of their career. It’s widely
recognised that organisations where autocratic decision making from
older leaders around engagement, technology, and what they believe
people will want is likely to be less successful - certainly culturally and
undoubtedly financially, too - than those committed to listening to the
outputs of Employee Resource Groups (ERGs).
At Carpenters Group, we facilitate ERGs; actively listening to our
employees’ ideas, wants and needs in order for them to feel and
become personally invested in organisational goals. We provide
training programmes, both formal and informal, as well as strong and
clear progression routes. Our successful apprenticeship programme
has brought over 50 people into roles where the skills and education
developed within their apprenticeships have been recognised. These
initiatives benefit us as Carpenters Group continues to grow, and by
having a more skilled and engaged workforce, we can nurture people
who are motivated and engaged to deliver successful outcomes to a
diverse range of clients.
Supporting the development of ‘new kids on the block’ will help to
address the talent shortage that our sector currently faces. People
have ’just fallen’ into the insurance profession for too long! Thankfully,
we have seen this change over recent years as organisations start
to recognise the importance of selling the opportunities, benefits
and excitement of working within insurance. This makes the industry
stand out as a place where people genuinely want to work and play
their part.
Investing in new kids on the block is undoubtably essential for
fostering innovation, developing a positive culture, ensuring diversity
of thought, aiding technological advancement, and addressing talent
shortages. By recognising and nurturing the potential of any new kid
on the block, the insurance sector ensures its continued advancement
in a modern world. The real question is, can you afford to ignore
them?
Sarah Pickerill,
Head of People, Carpenters Group
Reinventing the
Industry through Data
Several technological trends have come together in
the last few years to improve the client experience,
giving greater power to insurers and MGAs when
it comes to assessing and pricing risk. The key
trend is “big data”, where insurance businesses
can create and access very large data sets from
multiple sources, and use this data to derive
insights that are useful to the insurance market.
Off the back of this trend, there has been a step change in the
exploitation of data. This often occurs through commercial data
enrichment providers, who do the heavy lifting when it comes to
the compilation, aggregation, and presentation of the data. Data
enrichment has allowed insurers and MGAs to take the limited
amount of data provided by the client, and build a much richer
picture of the risk in question, with the aim of more accurately
pricing the client’s insurance policy. The most sophisticated insurers
and MGAs have been able to take this a step further, building
machine learning algorithms that update risk and pricing models in
real time. These have been most effective in lines of business where
large data sets exist, such as home and motor.
The Internet of Things (IoT) represents an adjacent trend to big data,
whereby physical devices and software are combined in a manner that
allows the devices to sense the environment around them, and return
data generated by the sensors to a central hub. These sensors include
accelerometers in vehicles that are used in telematics insurance
products, as well as flood and fire detection systems in buildings.
The combination of physical devices and the network behind them
allows insurers and MGAs to price risk and respond to claims in real
time, as well as providing usage-based insurance products.
From the perspective of client experience, the journey has been
streamlined by enabling the client to supply a limited amount
of information, such as postcode or car registration. Further risk
information can then be inferred from this. We all take the humble
postcode lookup for granted in our insurance software, but it was
really the first data enrichment service that made a difference to the
client experience of buying insurance.
At the point of claim, clients have reaped the benefits of IoT through
immediate response to claim incidents, and even forewarning that
a claim is about to occur in some cases. Some clients have also
benefitted from automated settlement of claims, sometimes within
seconds of claim submission. Claims payment automation relies on
big data to infer whether the claim should be paid based on the
specific circumstances of the claim in question and fraud risk of the
client.
Looking to the future, many of us have dabbled with ChatGPT and
have been captivated by the potential of Artificial Intelligence when
it comes to revolutionising the industry, not to mention absorbed by
worries about the future of our jobs. One can only imagine what an
article such as this might look like in five years’ time.
Will Prest,
Product Manager, ParaCode
MODERN INSURANCE | 17

EDITORIAL BOARD
Revolutionising Processes and
Operations with Data Analytics
e2e has transformed the way insurer clients
can interrogate and apply total loss data to
inform business decision making, setting a new
data enabled benchmark in the total loss claims
marketplace.
The total loss market represents untapped commercial opportunities
for insurers. Access to high quality data enables them to identify,
evaluate and act on those opportunities. Traditional, static, periodic
reporting cannot provide the in-depth business insights they
need. The creation of e2e’s data platform and data and analytics
solution, providing a visual dashboard and interactive approach
to management information [MI] reporting, is set to positively
revolutionise insurer processes and operations. Collaborating
with clients enables us to tailor the analytics capabilities to their
commercial model and specific business needs. This gives them the
power to dynamically explore and interrogate their data to identify
competitive advantage.
e2e’s MI and reporting function delivers insurers interactivity with
their total loss data, which is refreshed every 24 hours and accessible
via a secure, self-service web portal. Clients are able to drill down
into the data, select their own data ranges for time series comparison
analytics, monitor KPIs, and much more.
The modern Lake House architecture of e2e’s data platform, built
by Incited, delivers high quality data governance. This enables well
managed data from multiple sources to be validated, joined, modelled
for business consumption, and delivered in a user-friendly format. In
November 2023, taking full advantage of the solution’s capabilities,
e2e has added additional data to the service from SalvageMarket,
its online auction. This new data stream incorporates vehicles sold
at auction, and puts clients in control of interrogating and exploring
their salvage auction sales volumes, average PAV values, and
hammer price values. Filters can be applied further, for example, to
look specifically at insurer sub-brands and salvage code categories
as required. Supporting the supply chain to work to optimum
performance, a seller’s report has also been added to the auction
data stream, providing granular details to sellers in real time. This also
helps to inform sellers’ sales strategy and improve returns.
Adding further value, reclaimed parts data is set to be added to
the solution in the New Year, giving insurers an overview of their
availability, cost and use in their motor claims repairs. Clients will be
able to dynamically interrogate and cross analyse all this data on the
single e2e platform, gaining a truly holistic overview of their total loss
motor claims and reclaimed parts use. This also enables strategic
reviews, benchmarking against anonymized aggregated market data,
process engineering, cost reductions, and improved efficiencies.
e2e has plans to disrupt the market even further in 2024 by
collaborating with insurer clients to understand their predictive
analytics needs. Developing and delivering this functionality is the
next stage of the road map for its data and analytics solution.
Jim Loughran,
CEO, e2e Total Loss Vehicle Management
Embracing New Insights
Vehicle technology is growing at a rapid rate i ,
generating additional data that is vital for
providing fair and accurate insurance products.
Advanced Driver Assistance Systems (ADAS)
features ii can help create safer driving though
warnings, as well as reducing fatigue through
the intervention of braking and steering.
Analysis of vehicle data shows that 17% of
cars from 2014 have some form of ADAS
equipment, jumping to 98% for cars registered
in 2022 iii .
Whilst this advanced technology is helping to reduce claim frequency
by over 30% iv , the cost-of-living crisis means that cars are staying on
the road for longer. The average car is now close to 9 years old v . Add to
this the fact that a third of drivers vi have skipped an essential service on
their car due to financial restraints, and it is clear that the gulf between
the newest cars and the ageing UK car parc is widening.
These diverging trends have driven the need for solutions such as
LexisNexis® Vehicle Build, which reveals the presence and performance
of ADAS and its effectiveness in reducing claims at a VIN (Vehicle
Identification Number). Together with LexisNexis® Vehicle Insights
(which offers real-time information on a vehicle’s status, value and
history, including how well it’s been maintained), motor insurance
providers are able to understand a vehicle’s status as it left the
production line, and build a ‘story’ for every day since.
To really complete the picture, insurance providers should also know
about a vehicle’s claims history. Those facts will soon become clear
through LexisNexis® Precision Claims, the first claims contributory
database to offer a cross market view of home and motor claims
history for both the person and the asset.
Finding these new insights and working out how they can be
integrated easily into workflows has been a challenge for the market.
This is why LexisNexis Risk Solutions has invested in creating
LexisNexis® Informed Quotes – a single gateway to a whole host of
data solutions. This means that the right data can be injected at the
right points in the customer journey to help make swift, accurate and
fair decisions for customers, at a time when this has never been more
important.
Andrew Ballard,
Product Principle, LexisNexis Risk Solutions
i LexisNexis Research - Our analysis of over 16million cars, shows the average ADAS Feature Counts per year.
Our analysis of over 3.6million cars, policy details, and claims, shows the average car has at least seven
Advanced Driver Assistance Systems (ADAS) features and claims frequency is cut by up to 31%
ii LexisNexis Research - Our analysis of over 16million cars, shows the average ADAS Feature Counts per year.
Our analysis of over 3.6million cars, policy details, and claims, shows the average car has at least seven
Advanced Driver Assistance Systems (ADAS) features and claims frequency is cut by up to 31%
iii LexisNexis Risk Solutions research
iv Our analysis of over 3.6million cars, policy details, and claims, shows the average car has at least seven
Advanced Driver Assistance Systems (ADAS) features and claims frequency is cut by up to 31%
v https://www.ibisworld.com/uk/bed/average-age-of-motor-vehicles/44067/
vi https://customer.vwfs.co.uk/volkswagen-financial-services-uk/media/cost-of-living-compromises-safetyof-GB-roads.html
MODERN INSURANCE | 19

EDITORIAL BOARD
EDAM Group: A Place for
Continuous Learning
In an era where Next Generation talent is
demanding more from their employer, EDAM
Group recognises that to stand out from
the crowd and attract the right people, our
employee value proposition needs to be
unique, with a core focus on development.
Investment in people has never been more integral to the success
of a business. We understand that our People strategy must provide
clarity of purpose, strong leadership, and personal growth.
At the heart of EDAM’s personal development strategy is our ‘GROW’
framework. ‘GROW’ ensures employees at all levels are each clear
on our Goals, that we are Recognised for our contributions, that we
understand and support Opportunities for personal growth, all whilst
taking care of our Wellbeing.
A strong focus on continuous learning enables us to offer entry level
opportunities, where tailored support is provided from the very first
day of employment. Our clear and transparent job grading framework
ensures that when new talent joins the organisation, they are
provided with ‘GROW’ job role material clearly outlining role-specific
and company-wide competencies. Our ‘Learning Hub’ is a centralised
learning and development platform where employees can access a
range of training to support their development (such as technical or
skills training to develop role-specific knowledge), or our ‘One Team
Talks’, a place to provide opportunities for improved commercial
awareness.
For our current leaders, aspiring leaders and professional roles,
our leadership development programme equips future talent with
the skills and knowledge required to evolve naturally towards
the next stage of their career. Our ‘Trusted Leader’ programme
empowers our best talent to develop their skills in areas such as
values, accountability and communication; change management;
performance management and coaching; strategic thinking and
business acumen.
Finally, we recognise that Next Generation talent regards their
wellbeing and work-life balance with as much value as renumeration.
With nearly 20% of the organisation benefitting from some sort of
flexible working, we recognise that supporting work-life balance
attracts and retains talent whilst making our teams feel valued.
Our hybrid working model allows a 50/50 split of office and home
working, allowing employees to benefit from the flexibility of working
without a commute.
We also understand the passion that Next Generation talent has
around supporting positive mental health. This is why we have trained
Mental Health First Aiders in our business, as well as a first-class
Employee Assistance Programme and the provision to encourage
wellbeing days for our staff.
Rebecca Chappell,
Head of HR, EDAM Group
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MODERN INSURANCE | 21

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EDITORIAL BOARD
The Future is Bright
National Windscreens nurtures a learning
culture that encourages our staff to increase
their knowledge. We appreciate that digital
technology plays an important part of blended
learning in education, and so we provide our
employees with training and information in
an easy-to-understand style, all via an online
learning system.
Data from a 2021 Deloitte survey reveals Gen Z priorities. It showed
that sustainability is crucial when Gen Z consider their employer,
with 49% of respondents stating that they chose their career path
and potential employers based on the values and ethics of the
organisation. Our Sustainability Report supports this, demonstrating
the transparency needed to attract environmentally conscious young
people to join National Windscreens.
The team work in a friendly and engaging setting which helps
to create a skilled and professional service for the customer. The
technicians begin their career at our dedicated fitting, calibration and
training site, which is a perfect environment for specialist ongoing
training. Here, they learn the techniques and skills that lead towards
qualifications in Automotive Glazing at NVQ Level 2 and 3.
For entry level employees, we offer a comprehensive learning journey
for new starters in the business. The pipeline for progression within
National Windscreens is well established; all 14 of our Regional
Operations Managers (ROM) were previously fitting centre managers,
and 70% started their career as windscreen technicians.
A dedicated training team and knowledgeable mentors work with
all new starters to offer the practical experience required to begin a
career in the repair and replacement of automotive glazing. However,
we know there is no substitute for roadside experience. Therefore,
when the technicians complete their training, they continue to work
alongside an experienced colleague in branch or at the roadside.
In terms of technology, the mainstream adoption of ADAS (Advanced
Driver-Assistance Systems) is having a dramatic impact on how
windscreens are fixed and replaced. ADAS are developed to automate,
adapt, and enhance vehicle technology for improved safety and
driving. The shift towards autonomous driving is changing the way
that repairs are being conducted, and the calibration equipment is
constantly evolving, with new features being added to vehicles all the
time.
ADAS and vehicle complexity is changing at a fast pace. We are
working continuously in order to educate, update, and train our staff
on the developing legislation, technology and standards regarding
glass replacement and calibration equipment. Our training team has
created a programme to ensure that we can deliver best-in-class
service when working on ADAS related jobs. The technicians then
complete an ADAS-specific NVQ as a follow-on qualification, with
every aspect of our training designed to ensure that our technicians
have the knowledge to provide the highest level of customer service in
the sector.
Simon Hunt,
Commercial & Services Director, National Windscreens
Are Apprenticeships the
Solution to the Repair
Industry’s Skills Crisis?
Anyone working in the repair industry will know
about the high demand for skilled technicians.
Competition for the best people drives increased
wages, which in turn plays a part in pushing up
repair costs.
According to the Institute of the Motor Industry (IMI), this challenge is
set to continue. Over the next ten years, they predict an employment
requirement of more than 110.000 jobs in UK motor; of these, a
staggering 41% will be vehicle technicians. This requirement is driven
by people leaving the sector to migrate, change career or retire,
although the forecast also includes the creation of around 8,000 new
jobs.
These figures demonstrate that we need a significant focus on
training, and apprenticeships can be the ideal way for new entrants
to gain hands-on experience and theoretical knowledge. Through
apprenticeships, we have a fantastic opportunity to attract a more
diverse group of workers to our industry as we train the next
generation of automotive professionals.
At Activate Repair, we advertise our apprenticeships as widely as
possible, and run a rigorous and fair recruitment process that includes
assessment days and a chance to meet existing apprentices. We also
love sharing the success stories of our greatest assets – the people
that already work for us – to showcase the flexibility and professional
development on offer.
We take great pride in the apprentice scheme across our Activate
Repair sites, and were delighted to see it shortlisted for both the
British Bodyshop Awards and the ABP Bodyshop Excellence Awards
in 2023. Our objective is to create a diverse community of apprentices,
with the skills they need to build a successful career in the automotive
industry. From recruitment onwards, we ensure that apprentices
clearly understand what to expect, have the right support in place to
succeed, and get rewarded for their contribution.
We recruit apprentices annually, so each cohort starts at the same
time. They take part in an induction and get to know one another
during this time. We also set up a group chat so they can support
each other throughout the duration of the programme. A support
network is very important – mentors, bodyshop managers and tutors
communicate regularly in order to tailor the programme towards each
learner’s specific needs.
We currently have almost 40 apprentices across nine sites, and all are
on track or ahead of expectations thanks to the dedicated support in
place.
We won’t close the skills gap by doing what we’ve always done.
We need to demonstrate the fantastic automotive careers on offer
to people of all genders and backgrounds – and make sure that
established people in the industry are brought along with us. The more
we all shout about what our industry has to offer, the better chance we
have of attracting the best people to fill the skills gap.
Danielle Chruszcz,
People Director, Activate Group
MODERN INSURANCE | 23

THE VELLA GROUP
FORWARD THINKING.
While vehicles are becoming increasingly complex to repair,
customer expectations are evolving rapidly too.
To meet these challenges, we’re making sure we’re
ready to repair all types of damage by delivering
consistently outstanding, digital customer service,
minimising claim cycle times, and controlling costs.
The Vella Group is one of the largest accident repair
groups in the UK. Our highly skilled, electric/hybrid
trained technicians and experienced support teams
are committed to delivering a consistently outstanding
claims experience to your customers, getting them
back on the road quickly and safely.
Future-focused, we’re investing in the latest repair and
calibration equipment, alongside in-house training and
apprenticeship programmes which, coupled with our
digital customer platforms, ensure that we’ll be there
to support owners of the current and next generation
of vehicles.
For more information, get in touch today and see how The Vella Group can support your customers’ needs.
Tom Hadfield M: 07867 332696 E: thadfield@thevellagroup.co.uk
www.thevellagroup.co.uk

EDITORIAL BOARD
Quickfire Questions with
Natalie Wong, BASF
Automotive Refinish
UK & Ireland
Q. Natalie, how is BASF nurturing Next Gen talent
in order to guide and influence the workforce of
the future?
A. At BASF, we are proud of our strong history of innovation,
which has helped make us who we are today – the world’s
leading chemical company.
Every day, our global team of over 100,000 individuals work
together to turn visions for sustainable solutions into reality
by connecting with one another and sharing their knowledge.
We aim to form the best team by bringing together people
with unique backgrounds, experiences, and points of view. Our
differences make us stronger and more vibrant.
I’ve been in the automotive refinish business for two years,
and in that time, we’ve had four Commercial Sales Graduates
join our team for 6-month rotations. This has allowed them
to really support the business whilst experiencing everyday
marketing, communications, portfolio and sales activities
firsthand at a commercial level. With developing talent joining
the organisation each year, not only can they get a taste of the
automotive refinish industry from the get-go, but they can also
inspire fresh ideas in respect of ongoing projects, and see their
creations come to life.
Q. What mentoring opportunities exist to support
Next Generation talent at BASF, and what does
this look like in practice?
A. At BASF, we love connected minds. Ment4Me is our global
mentoring program that connects people for the purpose of
knowledge sharing, creating a diverse network and fostering a
supportive and inclusive learning culture.
mentorship from those outside of our business units, offering
new perspectives to both mentors and mentees within
BASF. I’ve personally felt like being a part of this has been
an incredible opportunity. I’ve built professional connections
to a wide variety of individuals, both within and outside of
my industry, which has enabled me to gain new insight and
support the path that I want my own career to take.
Q. In your opinion, what skills should someone
new to the industry develop to be successful in
the future?
A. Networking has been crucial in my role within the
organisation. At BASF, we have an Early Career Network as
well as an Early Sales Network, which allows us to proactively
utilise these skills even within the organisation. We are
lucky at BASF, because we have already established certain
values in our corporate culture that differentiate us from our
competitors. These are values that all employees experience
and live every day – and one of them is connectedness.
Connectedness means good relationships, among ourselves
but also with our customers and partners. This is reflected in
interdisciplinary and international projects, at customer events,
through social commitments and further initiatives, where one
thing is always the focus - bringing individuals together with
all their knowledge, solving global problems and creating a
sustainable future for us all.
BASF – we create chemistry for a sustainable future.
Dr. Natalie Wong,
Marketing & Portfolio Management Lead,
BASF Automotive Refinish UK & Ireland
With the diversity of the network of colleagues that we
hone within the UK & Ireland teams, we’re also able to seek
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MODERN INSURANCE | 25

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EDITORIAL BOARD
New and Better
Thinking
Leading with new thinking and innovative
strategies, products, and a business blueprint of
ethical and sustainable trading has made us not
only the partner of choice, but the right partner of
choice.
Vizion have always kept a watchful eye on the horizon; embracing
the need for change and taking these opportunities to evolve whilst
respecting the disruption that change can bring. This philosophy
of ‘proactive, not reactive’ change through understanding and
collaboration has delivered many firsts for Vizion and the wider sector.
With solutions and processes that are constantly evolving, we ensure
that we are at the forefront of new technology, embracing the digital
evolution whilst ensuring that customer and end user needs are held
in perfect balance with comprehensive solutions.
Consistency in system compatibility provides better ways of
working and greater operational efficiencies, propagating open
collaboration and empowering limitless users to confidently engage
with our solutions. In turn, this increases responsiveness, interaction,
productivity, and customer retention.
Combining our repair and service solutions with our digital platforms
(not to mention our proven technologies via agile connections)
delivers greater scalability, higher availability, superb resilience, world
class security, and limitless opportunities.
In a world of infinite problems and finite resources, we bring infinite
solutions together. The Vizion team has decades of industry and
digital experience with expertise in all areas, working in symmetry to
understand and deliver cutting edge solutions which are specific to
our partner and customer needs.
Vizion prides itself on the application of new and better thinking to
change and improve processes, delivering required outcomes for a
newer world that expects and deserves better.
We have been able to collaborate to make changes sustainable and
increase profitability, adding other commercial benefits for all parties,
such as the reduction of admin costs through better systems and
thinking. This provides lasting support, not just support tailored for
short-term disruptions.
We have made it our priority to support our repairers, customers,
and the industry. Whether through technology, knowledge, or
partnerships, Vizion has risen to the challenge, and has continued to
expand in network solutions and product offering through its honest
collaboration.
Chris McKie,
Managing Director, Vizion Network Limited
Revolutionary Processes and
Operations at RGI Solutions
In the dynamic landscape of Document
Validation, RGI Solutions recognises the
pivotal need to transform and invest in
processes by harnessing cutting-edge
technologies that reshape traditional
approaches and revolutionise our operations.
We are pioneering new methods in
collaboration with cybersecurity professionals,
merging their expertise in Artificial Intelligence
(AI) with our investigative prowess to establish
powerful partnerships in the ongoing fight
against fraud across the insurance industry.
Our commitment to innovation finds expression in the development
of our automated document validation system. This groundbreaking
technology streamlines and enhances the efficiency of our
operations. Through advanced algorithms and Machine Learning
(ML), we’ve empowered our system with our partners to recognise
patterns, detect anomalies, and validate documents with
unprecedented accuracy.
Collaborating with cybersecurity experts, we’ve extended our
capabilities further to deep mine the internet for deleted adverts.
Leveraging databases and specialised tools, we actively seek patterns
and connections that could indicate fraudulent activities. Moreover,
our partnerships with specialists enable us to interrogate in-car
systems, ensuring the validity of claims by accessing data embedded
in vehicle software.
continuously, adapting to emerging fraud patterns and staying
ahead of potential threats. The proactive approach facilitated by this
collaboration allows us to identify and prevent fraudulent activities in
real-time, contributing to a more resilient insurance industry.
Our commitment to combatting fraud extends beyond individual
organisations. Through strategic partnerships, we aim to create
an industry-wide impact by sharing insights, best practices, and
innovative solutions. These collaborative efforts foster a collective
approach to fraud prevention, strengthening the insurance industry’s
resilience against fraudulent activities.
As we navigate the ever-evolving landscape of fraud prevention,
our commitment to technological innovation remains unwavering.
Through continuous collaboration and the integration of cutting-edge
technologies, we are not only shaping the present but also laying
the foundation for a future where fraud in the insurance industry is
mitigated more effectively.
Our dedication to staying ahead of emerging threats marks a
significant leap forward in the quest for a more secure and fraudresistant
insurance industry. In a constantly evolving digital landscape,
our proactive and collaborative approach ensures that RGI Solutions
remains at the forefront of technological innovation, safeguarding the
integrity of insurance operations and contributing to a more secure
future for all of us.
Sarah Glenn,
Commercial Director, RGI Solutions
The integration of Artificial Intelligence fortifies our fraud detection
capabilities. This dynamic synergy enables our system to evolve
MODERN INSURANCE | 27

Be a part of
something bigger
Helping people. Innovating an industry.
At Crawford, employees are empowered to grow, emboldened to act and inspired to innovate.
Our industry-leading team pioneers new solutions for the industries and customers we serve.
We’re looking for the next generation of leaders to take this journey with us.
You’ll be empowered to help people when they need it most, to work on things that you’re
passionate about and your ideas will matter.
To create the future you want, look at the careers available at Crawford:
www.crawco.co.uk/about/careers or contact recruitment@crawco.co.uk
www.crawco.co.uk
Crawford & Company is an equal opportunity employer.

EDITORIAL BOARD
Learning for the Job
Andrew Collins is proof that no matter what
your experience, there’s always more to learn.
As someone who thrived in the Crawford
Academy and is now a mentor for other
participants, he is a clear advocate for the need
to grab every opportunity to advance your
skills.
Andrew started his loss-adjusting career in 1995 after working as
a broker. “I’d say a career as a loss adjuster found me,” he recalls.
“We had regular dealings with loss adjusters and it seemed like an
interesting career, where you didn’t have to always sit behind a desk -
every day was different.”
Andrew started his career as a trainee adjuster in 1995, and joined
Crawford almost 23 years later. Since then, he has blazed a trail and
is now a major & complex loss specialist. This year, he also helped
Crawford to win the coveted Major Loss Award at the British Insurance
Awards.
The multi-million-pound claim related to a huge fire at a multi-use
premises in Southwark in 2020, consisting of commercial units,
leasehold flats and social housing, plus car parking.
Andrew was on top of developments from the FNOL, assessing
damage and helping those affected despite lockdown restrictions at
the time. The speed of restoration – completed in just six months – and
care shown to victims led Crawford to secure the award.
The successful claim outcome was in part due to Andrew’s
involvement in the Crawford Academy. He had always wanted to work
in major loss, and Crawford was his opportunity.
The Academy sees senior team members mentor more junior
employees. It also helps adjusters to link up with other specialists.
Andrew points out: “I’m not a buildings expert, but I can always go
to my building specialist for support. No matter the situation, you’ve
always got that expertise to call upon.”
All new starters in major loss go through the Crawford Academy;
they are also assigned a dedicated mentor. While experienced,
these mentors no longer have caseloads, so their time is devoted to
developing up-and-coming employees.
Participants progress by dealing with larger claims, starting with
£250,000. Claims above that are overseen by more experienced
adjusters – eventually becoming a tier-one adjuster capable of
dealing with £5 million plus claims without oversight. According to
Andrew, this ensures that Crawford is “a better loss adjuster” overall.
Individuals see their skills develop with precision, while potential
mistakes are curtailed before they occur.
Lisa Bartlett,
President, UK & Ireland, Crawford & Co.
Create the New,
Transform the Old
When it comes to missed opportunities, the likes
of Kodak, Blockbuster and Saab are etched in
business leaders’ memories for their infamous
inability to adapt to changing market conditions.
And whilst the insurance industry is not typically
considered a bastion of innovation, change is,
thankfully, everywhere.
New start-ups, new tech and Next Gen support are pushing boundaries
and redefining the playing field, successfully breaking down the industry’s
strong barriers to entry and promising a refreshing blend of novelty,
superior customer experience, increased functionality and better pricing.
As more new companies and new propositions are developed, it raises the
question of whether a slow demise is inevitable for incumbent companies.
Standing still is not an option. Kodak et al taught us that, but if long
established companies are willing to adopt a new mindset, they can use
their strategic advantage to create new opportunities.
Innovation is not just about creativity and generating unique ideas. It’s
about identifying and addressing unmet needs and untapped markets.
As Vehicle Recovery Assistance - one of the core strategic pillars of
our business - turns 30, we look at how this incumbent has successfully
evolved its offerings to continually address customers’ changing needs.
Always here. Our customers don’t operate on a 9-5 working day,
and neither do we. We provide a 24/7 response when cars, vans and
commercial vehicles require recovery assistance, often as part of an
accident. Our response is the same night and day; from managing livelane
breakdowns to full motorway closures, HGVs to EVs and everything
inbetween, we resolve over 310,000 roadside recoveries per year
whenever or wherever they occur.
A trusted advisor. Our wealth of data is ready to be sliced, diced and
analysed to create vision, insight, and cost-saving opportunities for our
customers. We identify accident hotspots, evolving and innovating to
solve complex recoveries and predict market trends, always supported by
class leading recovery operators.
Strong customer relationships. We have deep conversations to
understand evolving needs. FMG Vehicle Recovery Assistance has
been part of a wider solution within our core business operations for
some 30-years. More recently, the solution was honed and replicated in
response to an insurer client’s need for visibility and cost control when
policyholder vehicles are recovered to storage post incident.
Better visibility. We recover vehicles even faster since investing in
automation and connectivity with our recovery partners’ systems. This
ensures speed, precise information sharing and transparency at every
stage in the vehicle recovery process, quickly identifying each caller’s
breakdown location and leading to faster and safer vehicle recovery.
Strategic partner relationships. We proactively plan in tandem with
our partners, whether that’s for winter’s extreme weather or for other
year-round incident hotspots. We work together behind the scenes to
strategically position recovery vehicles at key locations, ready to respond
to incidents quickly to protect our customers’ safety and keep all other
road-users moving.
The industry is changing faster than ever before, and it’s perfectly
possible that some of us will ‘hang tough’ through creating the new
whilst transforming and optimising the old. Success lies in combining the
strategic advantage of incumbents with the vision and agility of start-ups,
and through this ‘step by step’ approach, we will continue to deliver the
‘full service’ that our customers have grown accustomed to.
Andrew Chandler,
Sales Director, FMG
MODERN INSURANCE | 29

INVESTIGATION WITH
REAL INSIGHT
It’s not by chance that RGI Solutions
has grown to become one of the UK’s
leading independent insurance
investigation specialists. When we set
out in business back in 1990, our
mantra was simple: ‘to provide
integrity, reliability, insight, value
and quality in everything we do’.
TAILORED SOLUTIONS
AT YOUR SERVICE
About Us
Today, with leading insurance
companies, solicitors, self-insurers
and claims handling companies
among our clients, our founding
principles remain just as important to
us as they did all those years ago.
Proud of our heritage, clear fixedprice
services and outstanding fraud
savings rate, we deliver exceptional
value.
Believing that being ‘good’ really
isn’t good enough, we view the
service level agreement we establish
with each client as the absolute
minimum standard we must achieve.
0161 486 0100
Our portfolio of services is regularly
reviewed to ensure we provide
comprehensive, up-to-date and
effective investigation solutions. Most
importantly, each service is tailored to
clients’ specific needs and fully
compliant with the jurisdiction in
which we operate.
THE INTELLIGENT CHOICE
With highly experienced, qualified and
licensed investigators, sophisticated
information databases and a
management team made up of leading
counter-fraud specialists, we offer
true insight, capability and expertise.
Understanding that speed is always of
the essence, we offer a rapid
response.
The Intelligent Choice
Integrity, reliability, insight, value and quality
Address : The Chambers, 44 Station Road,
Cheadle Hulme, SK8 7AB
Mailbox : sales@rgisolutions.co.uk

EDITORIAL BOARD
The Future Leaders of
Accident Repair
At Gemini Accident Repair, we focus on the growth
of talent, making it a central aspect of our efforts.
This has been evidenced further by our award
wins in Learning and Development categories
throughout the years.
Back in 2017, our growth journey kickstarted our efforts to advance a
skilled and dynamic workforce, with an emphasis on bridging the gap in
both workforce and industry skills. Our approach involved the creation
of a dedicated training department and investment in apprenticeships,
welcoming the next generation of talent through the doors. This can be a
scary time for many young individuals entering the industry, and finding
opportunities that align with their ambitions can be challenging. This is
where businesses like us come in - playing a pivotal role in providing entrylevel
positions and apprenticeship programmes that focus on delivering
investment to the individual and providing a career for life.
Recognising the potential pitfalls of an aging workforce and a workforce
that was also perhaps restricted to specific skill sets, we understood the
importance of bridging the skills gap and branching out to a multiskilled
offering. A failure of any business to adapt to evolving industry demands
could lead to a workforce unable or unwilling to refresh qualifications. To
avoid this, we initiated our apprenticeship offering to current and new
individuals, and also offered personal development pathways. Our training
team built from the ground up included trainers in all fields relevant to
the bodyshop. These initiatives attracted fresh, talented individuals who
are eager to learn, as well as injecting new perspectives, motivation,
and a highly important understanding of innovation, technological
advancements, and modern-day methodologies.
Beyond the immediate advantages of growing a skilled workforce, our
investment in Next Gen talent sets the stage for enduring benefits. It instils
a culture of continuous learning, fresh expectations and adaptation. Whilst
this does present a temporary gap in the current qualified workforce, we
take pride in our ongoing recruitment efforts and partnerships, particularly
with the likes of the AutoRaise charity and EMTEC college. Currently
embarking on cohort 10 of apprentices, Gemini has successfully onboarded
over 100 individuals to date, with 30 now qualified and in full time
employment across the group. These individuals have been with us during
periods of flexibility, undergoing experiences markedly different from
those of other employees at the beginning of their careers.
We recognise that workforce development is a mutual journey. By
investing in our people, we can secure a future for our business and
actively contribute to the industry’s collective growth. At the same time,
individuals recognise this commitment, investing in their own professional
development. I firmly believe that these dedicated individuals will emerge
as the future leaders of our industry.
Dave Sargeant,
Managing Director, Gemini Accident Repair Solutions
Creating Pathways to
Attract New Talent
Nationwide Vehicle Assistance are committed
to develop young people strategies across
all of the businesses within our group. This
further enhances the company’s training
and development culture for all of our own
staff, including our teams of recovery agents
who are also at the heart of delivering
excellent service to our customers. All
employees are enrolled in an ongoing training
programme provided through in-house and
external trainers, including government
courses. Training continues throughout
their employment, resulting in a variety of
qualifications including NVQ’s.
Network agents are trained to comply with independently assessed
PAS43. In addition, our network managers visit regularly to audit
our recovery partners. Any operations outside of standard recovery
requirements are assessed by Nationwide Vehicle Assistance, so you
can be confident that trained, qualified team members are employed
throughout the customer experience. However, like many areas within
the automotive market, we continue to be faced with the growing
issue around attracting and keeping qualified recovery operator
personnel.
Having recently formed a partnership with leading apprentice
recruitment and retention specialists Apprenticeship Central, we
are actively looking at ways to create new opportunities for young
people to develop and thrive, both in our organisation and within the
general recovery sector. Creating a future pool of qualified young
talent can only be a good thing for our industry.
There is currently no dedicated apprenticeship standard for vehicle
recovery operators, and as such, we have started the process of
engaging with a number of leading industry figures to understand
employer concerns and needs. We acknowledge that there are no
quick fixes and it will take time, effort, and some dedicated resource,
but as one of the largest recovery agents in the UK and increasingly
in Europe, we feel it’s important to invest in trying to find solutions for
our network of agents and the wider industry.
The increasing importance of our industry – especially with the
growth of the EV market and ever-changing technology in the
modern motor vehicle – means it can be a really attractive, exciting
and lucrative career for young people. We are committed to the
process of creating pathways to attract young people and develop
them as multiskilled recovery operatives, also capable of handling
light mechanical repair processes too.
We look forward to developing this strategy and would be happy to
engage with other industry stakeholders who have a shared passion
for creating apprenticeship opportunities in our sector. Please get in
touch by contacting the team at sales@nwva.co.uk or by calling us on
01621 730039.
Mick Jennings,
Managing Director, Nationwide Vehicle Assistance (NWVA)
MODERN INSURANCE | 31

Helping businesses
make better decisions
“The Digilog Solution is a key tool for us as it
enables us to ‘fast track’ many truthful
customers whilst we can have more detailed
discussions with those where the technology
detects high risk.”
Machine Learning Artificial Intelligence to analyse and
validate risk in a Telephone or Video conversation.
Right Choice Insurance Brokers
Our unique software enables the fast & accurate validation of
genuine customers whilst identifying key risk issues associated
with a claim, application or dispute, irrespective of the
customers past, profile or geographic location.
Find out more:
Email: enquiries@digiloguk.com / Call: +44 208 087 2724
www.digiloguk.com / https://www.linkedin.com/company/digilog-uk-ltd

EDITORIAL BOARD
Navigating the
Journey to Digital
At The Vella Group, we recognise that technology
and change are critical to how our business remains
competitive. Over the last two years, we have
witnessed a significant change in expectations
around data and the sharing of information, with
customers and clients requesting live, accurate data
in a secure and digital format.
Historically, our core IT services have been maintained as an internal
business function, which has allowed us to respond quickly to
changes. In 2022, we recognised that technology was evolving
rapidly, and made the strategic decision to expand our IT function to
create the Technology and Change team. Setting up this department
included hiring four new team members: our Technology and Change
Director, two Business Analysts and a Senior Developer.
The team are responsible for building bespoke software solutions,
solutions which have allowed us to customise our internal applications
to business needs and create a product-based strategy in
microservices, rather than SAAS solutions. We are currently reviewing
customer experience and related processes, using digitalisation
and automation for omni-channel communication to deliver a more
seamless customer journey.
Having this expertise in-house has allowed us to make more informed
decisions on new software, as well as improving data security through
regular network penetration testing. Our Learning and Development
team now actively use an online bespoke training platform, which has
improved employee experience and reduced administration within the
team.
Our Technology and Change Director, Dave Jones, has 30 years of
experience within the software sector and leads the Technology
and Change team. Dave has experience working across industries,
including the public sector, pharmaceutical, and most recently,
major automotive retail groups. The team recently launched their
first software application with a focus on data security, with further
launches planned through 2024. Looking forward, our Technology
and Change department will continue to grow and augment the team
with new skills, specifically focusing on AI and creating minimum data
transfer with maximum value for the business.
Five years ago, employing a six person IT and software team in
an accident repair business would have been difficult to imagine.
However, looking into 2024 and beyond, we see the team as a critical
element of our strategy and growth plans, and understand the
benefits of investing in our software systems and solutions. Not only
does the team help us deliver information quickly and safely to clients
and policy holders, but they also align accident repair with technology
and software in a way we would otherwise be incapable of.
Marc Holding,
Managing Director, The Vella Group
Shaping our Workforce
for the Future
We recognise that times are changing. As
such, we need to futureproof ourselves as a
business to remain one step ahead, ensuring
that our sites, equipment and workforce also
move with the times.
The skills gap is a hot topic within the industry at the moment, with
the main causes being the introduction of new technologies and of
course, electric vehicles. Such changes have brought with them a
whole host of necessary skills and new ways of working.
Concerning results from a recent Department of Education
Employee Skills Survey reveal an increasing skills gap within the UK
in comparison to previous years (5.7%, up from 4.4% in 2017). The
survey also showed an increase in the number of employers reporting
that they had at least one employee who was not fully proficient
in their role. Now is the time to upskill and invest in development
opportunities, identifying training needs and preventing the skills gap
from growing.
This is what we’ve set out to achieve at SYNETIQ. Our colleagues are
our most valuable asset, and we recognise the need to upskill them
from within - not just for business needs, but for their own personal
growth.
We’ve put a big focus on developing our current workforce by
analysing what skills they need for the future. For example, we
recently rolled out our Leadership and Development Programme,
where our monthly training modules are designed to give our
colleagues the tools, skills and knowledge to do their jobs to the very
best of their abilities. This ensures that we’re doing the very best for
our clients and customers.
We are also the first UK vehicle recycler to complete an Institute of
Motor Industry-accredited course in EV dismantling. Produced and
written by Salvage Wire, the series of training sessions were our next
step in preparing our workforce for the future of electric vehicles.
Preparation is key, and we acknowledge that we must also attract
new talent to strengthen our workforce further. Apprenticeships form
an integral part of our people strategy, which includes a strong focus
on offering learning and development opportunities for the next
generation as well as for our existing colleagues.
We were the first in our industry to introduce a Metal Recycling
General Operative Apprenticeship, and we’ve found it to be a great
solution for preventing any potential skills gap.
Change doesn’t have to be difficult - it can be positive and exciting.
Yes, it is different and requires time and investment, but the future
opens doors to new ways of working and offers the means to work
more efficiently. It also provides colleagues with the opportunity
to learn new skills, which leads to an empowered and motivated
workforce.
Tom Rumboll,
UK Managing Director for IAA, and CEO of SYNETIQ
MODERN INSURANCE | 33

EDITORIAL BOARD
ASSOCIATIONS
ASSEMBLE
Welcome to Associations Assemble!
Modern Insurance Magazine is delighted to be joined by some of the leading
names from our industry associations, organisations and institutes!
This issue voices the thoughts of:
Vannessa Young
Compliance, Sustainability and
Advisory Boards’ Manager
British Insurance Brokers’ Association
(BIBA)
Anthony Hughes
Chairman & CEO
Credit Hire Organisation
(CHO)
Mike Keating
CEO
Managing General Agents’
Association
(MGAA)
Sue Brown
Chair
Motor Accident Solicitors Society
(MASS)
Mike Benner
Chairman and CEO
Credit Hire Organisation
(CHO)
Thomas Hudd
National Technical Manager
Nationwide Body Repair Association
(NBRA)
Pete Allchorne
President of the Forum of Insurance
Lawyers (FOIL) and Partner, DAC
Beachcroft
Dr Matthew Connell
Director of Policy and Public Affairs
Chartered Insurance Institute (CII)
MODERN INSURANCE | 35

ASSOCIATIONS ASSEMBLE
Vannessa Young
Title: Compliance, Sustainability
and Advisory Boards’ Manager
Association: British Insurance Brokers’ Association (BIBA)
Even Regulators
Have to Adapt
Our sector knows a thing or two about
regulation. Insurance brokers see every
aspect of their business scrutinised by the
Financial Conduct Authority (FCA). That’s
nothing new, but as the world we operate
in changes, so too do the good practices,
rules and regulations that we need to abide
by. Keeping on top of changing regulations,
rules and advisories can be tricky, time
consuming and complex.
The FCA’s Consultation Paper 23/20 looks at
improving Diversity and Inclusion (D&I) across the
financial sector by developing a high-level regulatory
framework. This is intended to give firms the flexibility
to devise strategies that most effectively deliver the
outcomes that the regulator wants to see, all while
taking account of their own needs and operating
environment. Recognising the differences between
firms large and small, organisations with fewer than 250
employees will be exempt from many of the proposed
requirements. There is no denying that greater data
regulatory reporting on D&I is coming, and firms
will have to design ways of requesting the required
information sensitively and compliantly from their
employees.
Similarly, the consultation considers new expectations
in respect of non-financial misconduct, clarifying
and enhancing its expectations around issues such
as bullying and racial and sexual harassment with
proposed new guidance.
Though not targeted at the insurance broking sector,
the FCA recently published findings from its multifirm
review of authorised fund managers’ approach
to embedding its Guiding Principles in Environmental
Social & Governance (ESG). It is entirely feasible,
therefore, that other regulated firms might have to
show their own good practice in the design and
delivery of ESG. A topic that is not so much a new
kid on the block, but one that is becoming firmly
embedded into our corporate psyche!
Guidance for brokers on
ESG is available on the
BIBA website.
Mike Keating
Title: CEO
Association: Managing General Agents’
Association (MGAA)
MGA sector set to
push ahead in 2024
This year has been another very successful
year for the MGA sector, which once again
showcased its resilience and ability to
deliver high levels of service in the face of
a very challenging external environment.
Whilst many of the economic and geopolitical
challenges impacting business, from the struggling
economy to ongoing global conflicts, are likely to
continue through to 2024, the outlook remains positive
for MGAs. Brokers and insurers are increasingly likely
to turn to them and view them as vital partners in
their mission to support their own customers in
managing risk.
However, the MGA sector cannot rest on its laurels.
It must maintain its laser-like focus on delivering
consistent value to capacity providers, particularly in
terms of profitability and the level of service they offer.
The broking community also needs MGAs to
remain focused, flexible, innovative, approachable and
service-focused as they and their clients try to manage
their way through the challenging economic headwinds
to come.
2024 will bring new opportunities to market as capacity
providers seek out reliable, professional MGAs that
can deliver consistent underwriting earnings through
product innovation and distribution, which they cannot
readily access or build themselves.
Regulation will, as always, play a major role in 2024.
It is hoped that the regulatory environment will shift
its focus to governance and policing, as opposed to
the introduction of further regulation which more often
than not inhibits the industry’s ability to concentrate
on its main job - meeting the insurance needs of our
customers.
Going into 2024, we expect to see an overall
continuation of the
development we’ve seen
this year. MGAs will continue
to grow in importance for
insurers and brokers as they
continue to provide agile
and innovative solutions in
challenging times.
MODERN INSURANCE | 37

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ASSOCIATIONS ASSEMBLE
Mike Benner
Title: Chief Executive
Association: Association of Personal Injury
Lawyers (APIL)
APIL: Rebuilding
Shattered Lives
Ensuring fairness and redress for injured
victims of negligence is the cornerstone
of our work at APIL. It’s what our flagship
campaign, Rebuilding Shattered Lives, is all
about.
The campaign received a significant boost recently in
the form of recognition from the Association Excellence
Awards. A short film produced for Rebuilding Shattered
Lives, entitled ‘Victoria’s Story’, scooped gold in the
‘Best Blog, Podcast, or Video’ category.
Victoria Lebrec was lucky to survive when the
driver of a skip lorry knocked her off her bicycle in
central London and dragged her along the road. She
suffered life-changing injuries and had to have her leg
amputated. In the film, she explains how the law on
personal injury has helped with the process of putting
her life back on track. The aim of the film was to put the
experiences and needs of victims of negligence into the
consciousness of the wider public, evoking empathy
and challenging perceptions of personal injury law.
We know from focus group research, as well as the
film’s reach online, that it is having a profound impact
on audiences. Focus group participants reported an
emotional reaction to the film, and most expressed
how getting a picture of a real victim’s experience of
needless injury challenged their perceptions of personal
injury law. The award judges noted that the “powerful
story” had been handled with sensitivity, with the film
being seen online by more than 600,000 people so far.
At the time of writing, the APIL team is preparing
to take issues affecting victims of negligence to
Parliament at a special reception. This campaign is for
the whole sector, as well as for the injured people it
serves. Readers can support the
campaign by searching for
‘Rebuilding Shattered Lives’
on social media and
sharing the content.
Anthony Hughes
Title: Chair and CEO
Association: The Credit Hire Organisation
(CHO)
Stewart McCulloch
appointed
Independent Chair
of the GTA
The new independent chair of the GTA
will be Stewart McCulloch, who has been
appointed to the role jointly by the CHO
(Credit Hire Organisation). Representing
credit hire companies and motor insurers
who subscribe to the GTA, Mr McCulloch
took up his new role on 1st Dec 2023.
The GTA is a set of industry-agreed principles, rules
and guidelines that insurers and credit hire companies
voluntarily agree to in order to manage replacement
vehicle motor claims.
Since 1999, the agreement has been the benchmark
and basis for the operation of the UK credit hire sector.
The appointment of Mr McCulloch is the latest step
towards evolving a revised GTA - accounting for industry
developments since the initial launch, as well as present
day challenges in the motor claims supply chain.
Commenting jointly on the appointment, Anthony Hughes,
Chair and CEO of the Credit Hire Organisation (CHO), and
James Driscoll, senior claims manager at Aviva and Chair of
the Insurer Technical Committee, said:
“We’re pleased that someone with Stewart’s deep
understanding of the credit hire industry will be overseeing
the GTA through the latest series of revisions. He has the
full support of insurers and credit hire companies (CHCs)
who subscribe to the GTA, and will play an integral role
in the next stage of our negotiations. We are confident
that Stewart’s leadership will enable us to make smooth
progress towards a revised GTA that will meet the needs of
insurers and CHCs now and into the future.”
Stewart McCulloch said: “Credit hire is a unique, some
would say esoteric, element within the motor claims value
chain. However, being part of this sector for many years
has given me great passion for the issues and for the
industry in all its forms. The GTA is a vital means of selfregulation,
which most stakeholders believe is a far better
means of managing replacement vehicle motor claims than
the blunt instrument of legislation”.
He continues, “I’ve been impressed by the businesslike
approach taken to the latest round of negotiations,
and look forward to playing my part in effecting the
compromises that
will be required to
get a successful
result”.
MODERN INSURANCE | 39

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ASSOCIATIONS ASSEMBLE
Thomas Hudd
Title: National Technical Manager
Title: National Technical Manager
Association: National Body Repair Association
Association:
(NBRA)
Nationwide Bodyshop Repair
Association (NBRA)
Digital Skills enhance
the Automotive
Industry
In the wake of a new era, today’s digitally
savvy youth are ready for the kind of
change that the automotive industry so
desperately needs. This shift is particularly
evident in the realm of ADAS calibrations,
steering rack reprogramming, and the
evolving landscape of EV components.
Remote completion of vehicle diagnostics, component
programming and calibrations has become possible
through two core developments; the use of appropriate
equipment, and a digital link to experts. These experts
are not only proficient in the aforementioned tasks, but
they are also well-versed in digital security, ensuring the
safety of consumer vehicles and restoring them to the
intended position that the vehicle manufacturer had
envisioned.
One company at the forefront of this digital revolution
is ‘Core Diagnostics’. Their pioneering approach
involves the recruitment of young talents from schools
and colleges - individuals whose expertise may not
necessarily lie in hands-on automotive work, but whose
digital skills bring a wealth of talent to the table.
Through a dedicated training programme that marries
theoretical knowledge with practical experience, ‘Core
Diagnostics’ also nurture a cadre of competent Subject
Matter Experts (SMEs).
For a deeper exploration of this approach, the NBRA
recently hosted a webinar featuring Neil Hilton, a
representative from ‘Core Diagnostics’.
The webinar is available for anyone to view for for free.
Just go to the ‘Technical’ tab of the NBRA website.
Pete Allchorne
Title: President and Partner
Association: Forum of Insurance Lawyers (FOIL)
and DAC Beachcroft
FOIL Members elect
Pete Allchorne as
President
Pete Allchorne, Partner at international
law firm DAC Beachcroft, has been elected
President of the Forum of Insurance
Lawyers (FOIL), taking over from Nicola
Critchley, Partner at DWF Law.
Pete previously chaired FOIL’s Motor SFT, and has
worked with insurance clients for more than 20 years.
His strategic focus is on civil justice reform, the legal and
regulatory issues impacting the future of road transport,
and the impacts of digitisation across the sector.
The insurance industry has a challenging year ahead,
with geopolitical, financial and environmental instability
characterising the nature, volume and frequency of
claims. The continuation of the Ukraine invasion (and
now a new crisis in the Middle East), coupled with
the cost-of-living crisis and Environmental, Social &
Governance (ESG) considerations, are just some of the
issues insurers and their lawyers are grappling with
today.
With stubbornly high inflation and the anticipation of a
general election during 2024, Pete’s appointment comes
at a time when FOIL needs to offer thought leadership
more than ever, helping insurers and insurance lawyers
adapt to a fast-changing environment and providing a
sounding board to its members, as well as a campaign
for change.
Equally, FOIL also recognises what matters to its
members as businesses themselves. Diversity & Inclusion,
ESG, and the mainstreaming of Artificial Intelligence are
all issues with particular impacts for insurance lawyers
and insurers. Under Pete’s direction, FOIL will continue
to provide a safe space for members to be open about
these issues, and discuss how they and their clients are
impacted.
Looking to the future, FOIL will also be focusing on
talent, as well as the need to espouse the benefits of
a career in insurance and risk to younger generations
of lawyers. Tomorrow’s FOIL will play a vital role in
showcasing this.
MODERN INSURANCE | 41

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Sue Brown
Title: Chair
Association: Motor Accident Solicitors Society
(MASS)
Flaws Persist
in the OIC
In September, the Justice Committee
unexpectedly published a report into the
Official Injury Claim service and whiplash
reform. The Ministry of Justice has now
published a defence, unsurprisingly
dismissing most of the criticism from the
Committee and other stakeholders.
Apparently, the assumed 30% proportion of
unrepresented claimants using OIC (the actual figure is
around 10%) was always “an assumption, not a target”,
and increasing the number of unrepresented claimants
“has never been an objective of the reforms”. The
assertion that this was never an objective flies in the
face of years of ministerial statements, not to mention
the structure and language of the OIC and the rules as
they are written.
There is a welcome commitment from the MoJ to
investigate the reasons behind an increasing backlog
of 349,000 unresolved cases in the OIC Portal. As the
Committee noted, one of the primary objectives of the
OIC was to simplify and speed up the claims process.
The MoJ claims that this is now working well “following
the resolution of some technical issues”. However,
while gradual progress has been made to resolve
these problems, claims management is still slow, time
consuming and expensive for professional users - both
claimant and defendant.
The time that claims take to settle supports the fact
that the OIC is not working as an efficient system. The
reality is also likely to be worse than the published
figures, because data counts only those claims that
have eventually settled, not those currently sitting
in limbo. The only explanation must be that the
system does not enable professional users to work
as efficiently as they could in the Claims Portal.
Regrettably, there is little evidence of anything being
done to address this fundamental flaw.
Jonathan Dr Matthew Drake Connell
Title: Director, Policy and Public Affairs
Association: Chartered Insurance Institute
(CII)
The Tide is Turning
For the last five years, I have had the
privilege of heading up the CII’s New
Generation Programme, which has been
running since 2011. Each year, four groups
of CII members, usually with around
5-10 years of experience of working in
insurance, undertake a project that aims to
further the CII’s purpose of promoting trust
and professionalism in the sector.
The groups are divided into claims, broking,
underwriting, and the London Market. They have a year
to prepare a presentation on their project. The only
requirement is that the project should comply with the
fundamental expectations set out in the CII’s ‘Code of
Ethics’.
In the meantime, they complete a course that has
sessions on strategic planning, dealing with the media,
as well as parliamentary and regulatory affairs.
I am always amazed at how much variety there is in
the groups’ work – from key topics such as technology,
vulnerability, fostering talent in the profession and ESG,
right through to mental health for claims professionals
when dealing with complex claims, flood resilience
guidance for communities, innovation and working
practices during lockdown, to fracking or even
guidance for the police in the aftermath of riots.
In this list, I still haven’t done justice to the breadth of
work that has been done, much of which we still use
today for its insights and example of good practice.
We receive a more diverse group of applicants every
year, reflecting the progress that has been made by
many parts of the profession. But there is still more
that can be done to attract and retain a wider range of
people, and that means making insurance more than a
profession that people ‘fall’ into.
Our 2022-23 Broking
Cohort produced
brilliant materials for
setting out the benefits
of insurance to new
recruits. If you read this
and know anyone who
can strengthen the next
generation for insurance,
please send them a link to
our website.
MODERN INSURANCE | 43

VEHICLE RECOVERY ASSISTANCE
Simplicity,
transparency,
& speed
Solving the recovery and storage headache
When it comes to managing the cost of motor claims,
the insurance world leaves nothing to chance. With
repair costs ghtly controlled, third pares captured,
losses recovered, and income closely monitored, it
seems every head of claim has been streamlined and
honed to near perfecon.
Yet vehicle recovery and storage remain the hidden
costs that seem impossible to predict and even harder
to budget. A roadside recovery request from a
policyholder in the small hours can reveal holes in an
otherwise waterght process, creang a challenge to
unravel – establishing the policyholder’s welfare,
incident circumstances, vehicle locaon and
repairability, not to menon costs. We understand
these challenges, and can say with certainty, it
doesn’t have to be that way.
Here at FMG, our Roadside Repair and Recovery
Management (RRRM) department have been
managing high volume recoveries and storage and
total losses involving cars, vans and commercial
vehicles for over thirty years, in hours, out of hours,
for any vehicle, at any me and in any UK locaon.
We manage over 310,000 roadside incidents per year
on behalf of major insurance underwriters, blue-chip
corporate fleets, 10 Police Forces and Naonal
Highways. We’ve invested, innovated and expertly
honed this soluon to provide insurers and
policyholders with greater support to solve their
recovery and storage headaches.
A seamless service aligned
to each customers’ service
FMG Vehicle Recovery Assistance is our unique
end-to-end soluon for accident recovery and storage.
Created in collaboraon with insurers, it delivers a
seamless service perfectly aligned to each customers’ in
hours service, designed with the greatest customer
care, full cost control and speed of selement in mind.
And the highlight for insurers, a dedicated portal
provides full transparency, updates and images every
step of the way and with every move a vehicle makes.
FMG Vehicle Recovery Assistance collaborates with our
insurer customers, be that night, day or
round-the-clock. It begins with an FNOL call or
instrucon which is seamlessly and automacally
diverted to our specialist 24/7 VRA customer support
team. No handover is required, our team know exactly
what’s needed to get things resolved quickly in line with
each customer’s specific instrucons. They make sure
the driver is safe, then our intelligent system
automacally allocates the recovery to the nearest and
most appropriate recovery operator from our network
of over 250 UK-wide PAS-43 accredited partners with
operaons spanning over 450 UK locaons.
The highest standards in
vehicle recovery and efficiency
With a policyholder waing at the roadside, me is off
the essence and our support team stay in touch via
customer’s choice of telephone or text message to
monitor their wellbeing and share updates of the
vehicle recovery operator’s esmated me of arrival on
the scene. We’re proud to work in close and
long-standing partnerships with the UK’s highest quality
vehicle recovery operators who understand and commit
to our customer service promises. We have every
vehicle type covered, from motorbikes to Maseras, the
largest HGV to an out-of-charge EV, equine, livestock
and every complex incident type too, from rural
breakdowns to major motorway closures, John O’Groats
to Lands’ End or Enniskillen. Our Supply Partners are
PAS-43 accredited and IVR-cerfied, the highest quality
standards in vehicle breakdown, recovery and removal
operaons, whether a recovery requires emergency
services, motorway lane closures, forensic preservaon
or specialist liing equipment.
markeng1@fmg.co.uk
0344 243 8888

Transparency
& imagery at
every stage
A picture tells a thousand words, and vehicle
recovery operators upload real-me images to our
online customer portal when they arrive on scene
and throughout the recovery, to help the insurer
accurately visualise the scene and to validate the
type of recovery, equipment deployed and all
associated charges.
The welfare of the policyholder and any passengers
remains paramount throughout, and whilst vehicle
recovery is underway, we arrange their onward travel
to their intended desnaon if included within the
policy wording endorsement. With another me
stamp on the customer portal upon successful
clearance of the scene, the vehicle is recovered to a
bodyshop or overnight storage. We demysfy vehicle
storage with a dedicated portal dashboard detailing
each insurers’ vehicles in storage, their locaon,
duraon and detailed vehicle images.
KEEPING STORAGE COSTS TO A MINIMUM
Our inhouse image engineers inspect those vehicle
images to assess damage remotely, helping to make
liability decisions more quickly and triage the vehicle
for repair or salvage to speed up the claim. We closely
monitor vehicles in storage to keep storage costs to a
minimum. Salvage can be arranged swily in line with
the insurer’s instrucons, with onward transportaon
to the salvage company without delay. Repairable
vehicles are booked in for repair and remain in storage
unl parts are available and the repair can begin.
Reuning the policyholder with their repaired vehicle
marks another portal update, and the final piece in a
full and complete picture of the enre end to end
service from FNOL through to vehicle return. Insurers
can revisit call logs, vehicle images, the recovery
meline and contact details of each vehicle locaon at
any me to support the progress of the claim.
A refreshing simplicity
for vehicle recovery and storage
FMG Vehicle Recovery Assistance brings a refreshing
simplicity to out of hours vehicle recovery and
storage. It provides insurers with cost control,
visibility and connuity of service around the clock.
It’s a seamless soluon perfectly aligned to their own
brand, their values, their customer promises and
their specific instrucons.
For us, FMG Vehicle Recovery Assistance delivers even
greater customer value from the resources and
relaonships we’ve developed over the past three
decades - rock solid UK-wide supply chain
partnerships, a vastly experienced and dedicated
round the clock support team and our significant
investment in supply chain process automaon and
elaborate connecvity.
Ulmately it provides peace of mind and confidence in
the smoothest experience for policyholders whenever
they may call. In essence, there is no such thing as
hidden costs, process blackholes or complex recoveries
- it’s service excellence as standard with FMG Vehicle
Recovery Assistance.
Andrew Chandler
Sales Director,
FMG
www.fmg.co.uk

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THE FRAUD BOARD
THE
FRAUD
BOARD
As the inaugural Chair of Modern Insurance Magazine’s
Fraud Panel, I’d like to welcome you to the very first
instalment of The Fraud Board.
In my role as Head of Fraud and Financial Crime at the Association of British
Insurers (ABI), and as a member of the General Insurance Fraud Committee
(GIFC), I help to inform and oversee the industry’s counter fraud strategy,
founded in collaboration and partnership with the Insurance Fraud Bureau
(IFB) and the Insurance Fraud Enforcement Department (IFED). Issues on the
GIFC’s radar in 2024 include raising consumer awareness of the fraud threat
and supporting victims of fraud; improving controls to prevent data theft;
leveraging technology and information sharing; and promoting a more joinedup
approach between general insurance and other insurance sectors.
Insurance fraud is of course part of a broader UK fraud epidemic, with fraud
accounting for more than 40% of all reported crime. At a macro level, I
work closely with the UK Government on policy issues. I’m encouraged by
the current focus on combatting economic crime and fraud, including the
commitments made in the Fraud Strategy published last May. In February, the
Government will launch its overarching fraud awareness campaign, and will
host a Global Fraud Summit to forge partnerships which aim to mitigate the
transnational fraud threat.
The Government acknowledges that to combat fraud successfully, it must
harness the resources, capabilities and experience of both the public and
private sectors. Indeed, this is the approach that the insurance sector is
adopting in working with the Home Office to develop an Insurance Sector
Fraud Charter – a series of insurance and government commitments to make
the UK more resilient to insurance fraud. We will publish the Charter later this
year.
It is incumbent upon all within the insurance counter fraud community to
play their part in fighting fraud. In this publication, you’ll read about some
of the excellent work that the industry is doing to stay ahead of increasingly
sophisticated fraudsters.
Until next time,
Mark
Mark Allen,
Assistant Director, Head of Fraud and Financial
Crime, Association of British Insurers (ABI)
MODERN INSURANCE | 47

THE FRAUD BOARD
DOING ‘MORE WITH
LESS’: DRIVING
EFFICIENCY IN
COUNTERING FRAUD
As the leading provider of fraud solutions to
the insurance industry, Synectics Solutions is
committed to achieving ‘more with less’ for
its customers. We’ve witnessed a substantial
transformation in insurers’ strategies, resulting
in heightened effectiveness and efficiency in
countering fraud.
The following are some of the strategies and
techniques we’ve incorporated to deliver on this
commitment.
1. Data Sharing for Comprehensive Insights
In the ongoing battle against fraud, effective data sharing
stands as a cornerstone, even in the face of persistent
data quality challenges. The industry’s reliance on
syndicated data emphasises the importance of widespread
membership, fostering collaboration to offer comprehensive
insights to insurers. Recommending insurers to review and
maximise the data items shared is essential to enabling
the identification of patterns and fraud networks, thereby
bolstering fraud detection and streamlining operational
processes with efficiency.
4. Document Verification for Security Amidst
Deep Fakes
Traditional identification of false documents relied on a
trained eye and access to the original document. With the
persistent threats posed by generative AI and deep fakes,
the landscape of insurance fraud through falsified or altered
documentation is rapidly evolving.
In response to these challenges, Synectics Solutions has
developed advanced document verification techniques.
These include facial recognition, text extraction,
manipulated evidence detection, similarity scoring, and
reverse image searching, automating the authentication
process. This enhances operational efficiency and ensures
a thorough evaluation of potential fraud, significantly
reducing reliance on resource-intensive manual
investigations. Crucially, this capability expedites the
settlement of genuine claims amidst the ever-evolving
landscape of deceptive practices.
2. Real-Time Data Processing for Proactive
Prevention
Meeting customer expectations in the digital age requires
real-time data processing. The shift from traditional batch
processing to dynamic, real-time data analysis marks a
significant leap in fraud prevention. A seamless strategy
from the Point of Quote to Claim Settlement (demonstrated
in a recent proof of concept) captured an impressive 68% of
potential fraud instances at the quote stage. Incorporating
fraud prevention and detection as early as possible in
the customer journey boosts operational efficiency and
empowers insurers to proactively address fraudulent
activities from the outset, reallocating resources effectively.
3. AI-Driven Revolution with Machine Learning
and Predictive Analytics
Integrating machine learning, predictive analytics, and
artificial intelligence (AI) has revolutionised fraud detection.
The introduction of predictive analytics for some insurers
has seen a 31% increase in fraud detection compared to
syndicated data alone. Simultaneously, there’s been a
significant 43% reduction in fraud referrals, highlighting the
transformative impact of technology in streamlining fraud
management processes. This enables fraud teams to focus
more intently on high-risk cases, significantly increasing
investigator productivity, fraud savings, and enabling the
swift processing of genuine claims for good customers.
Richard Daley,
Insurance Director, Synectics Solutions
MODERN INSURANCE | 49

THE FRAUD BOARD
A JOINED UP
APPROACH
When fraud is on the increase and budgets do not
scale accordingly, doing more with less is a common
challenge faced by insurance fraud departments. At
FRISS, we are fortunate to work in partnership with
customers all over the world, extracting the most
value from their counter fraud assets.
We see some common themes for success in the following:
1. A Challenger mindset. Question processes and striving for
better outcomes.
2. No more silos. Co-operation between underwriting and
claims fraud teams is a must. A single view of the customer
base is essential in order to adopt an enterprise-wide
approach, linking suspicious entities together. The most
progressive insurers are adopting networking technologies
that work in real time to inform the underwriter or adjuster in
the moment.
3. One size does not fit all; there are many techniques or
models in place to detect fraud. AI is an increasingly used
technique; think of network analytics and anomaly detection.
But, you can’t ignore good old-fashioned rules either,
otherwise how do you train the AI? An additional benefit
would be that with the rules you get a head start with proven
prevention from day one, only to become better over time.
4. Insurers have access to so much data. The challenge lies
in how they extract this data and feed their counter fraud
models. Insurers should consider using OCR technology
to render the entities from claims documents for use in
detection, or using the document text to spot patterns of
language associated with previous proven fraud. There is also
image or document manipulation, voice analytics and thirdparty
data sources. Together, these should form an effective,
cohesive counter fraud defence, surfacing the output in real
time to inform decisions.
5. Don’t forget the investigator! A saving is only made when
the fraud is proven. Better case management technology will
help the investigator in their efficiency, and provide more
granular feedback to improve detection modules.
Put together, these tactics provide a virtuous circle
of improvement. Better detection means better
investigations, and better investigations provide more
feedback, leading to better detection. At
FRISS, we believe in a joined-up approach to countering
insurance fraud. This is why we have developed our endto-end
Trust Automation platform - capable of detecting
fraud across underwriting and claims, right through to
case management and intelligence handling.
Martyn Griffiths,
Sales Manager UKISA, FRISS
MODERN INSURANCE | 51

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MEET THE JUDGES!
We are delighted to introduce this year’s esteemed panel of judges!
CHAIR - David J Williams - Chair of the Fire Protection Associations (FPA), Former MD
of Claims & Underwriting at AXA Insurance
VICE CHAIR - Suneeta Padda - Director, Padda Consulting
Anthony Hughes - Chairman & CEO, The Credit Hire Organisation (CHO)
Chris Payne - EMEIA Insurance Technology Leader, (EY)
Claire McDonald - Member of the Board – HDI Global SE, Chair of iWIN Insurance
Women Inclusivity Network
Denise Garth - Chief Strategy Officer, Majesco
Donna Scully - Joint Owner/Director, Carpenters Group
Dr Renu Ann Joseph - Founder & CEO, Luminant Analytics
Eddie Longworth - Director, JEL Management Consultancy Ltd
Helena Evans - Head of Specialist Services at Criterion and Immediate Past
President of the Chartered Institute of Loss Adjusters (CILA)
Huw Evans - Partner, Insurance, KPMG in the UK
John McQuater - President, Associations of Personal Injury Lawyers (APIL),
Director & Joint Head of Personal Injury at Switalskis Solicitors
John Thompson - Chairman, British Damage Management Association (BDMA)
Julia Graham - CEO, AIRMIC
Kirsten Mitchell-Wallace - Director of Portfolio Risk Management, Lloyd’s of London
Laurence Besemer FCII - CEO, Forum of Insurance Lawyers (FOIL)
Matthew Maxwell Scott - Executive Director, The Association of Consumer Support Organisations (ACSO)
Michael Keating - CEO, Managing General Agents’ Association (MGAA)
Rory Pyke - Global Partnerships Manager, Insurtech Insights
Rory Yates - CSO, EIS Ltd
Sabine VanderLinden - CoFounder & Managing Partner, Alchemy Crew
Sue McCall ACII - Chartered Insurer, Past Chair of Society of Claims Professionals & Panel Member
of the CII General Insurance Learning Advisory Panel, Senior Manager - Claims Management
at MS Amlin Underwriting Limited
Susan Brown - Director and Chair, Motor Accident Solicitors Society (MASS)
Ursula Jallow - Director, Insurance Fraud Bureau (IFB)
Nominations close Wednesday 31st January!
When: Thursday 18th April 2024
Where: The Rum Warehouse, Liverpool
Dress code: Black Tie
Event enquiries please contact: millie@charltongrant.co.uk
Sponsorship enquiries please contact: rachael.pearson@charltongrant.co.uk
Sponsors
Media Partners

THE FRAUD BOARD
Introducing...
MARSHMALLOW
In celebration of Modern Insurance Magazine’s launch
of The Fraud Board, Modern Insurance Magazine sat
down with Ash Jackson, Head of Fraud at Marshmallow,
to further discuss the intricacies of the insurance fraud
landscape in 2024 and beyond.
Q
Hi Ash, it’s great to have Marshmallow join us as a founding
contributor of our brand-new panel of industry fraud
experts!
Tell me about your present approach to fraud at Marshmallow.
How are you leading the way in this area of the industry?
A
Here at Marshmallow, our approach to fraud isn’t simply to
‘go after the bad guys’ and ‘fight fraudsters’. Instead, we
use advanced techniques in validation to gain an in-depth
understanding of our customers to facilitate growth in exciting
market segments.
Our ability to excel is spearheaded by our in-house Technology,
Data Science and Analytics teams. They support our investigation
and decision-making processes in developing solutions that provide
unique user experiences at every stage of the customer journey.
The longevity of our strategy is underpinned by an organisational
culture to continually challenge how we operate. Bold decision
making and our ability to act with agility ensures we are able to stay
ahead of evolving risks.
Q
Which trends have you witnessed in insurance fraud
recently, and how are Marshmallow hoping to combat these
risks in 2024?
As will always be the case, fraud continues to evolve across
opportunistic and organised threats.
A
Alongside the current cost of living crisis, rising premiums
have not only increased the propensity for applicants to
misrepresent themselves in search of cheaper prices, but also fuelled
the market for Ghost Brokers to prey on those in need.
Q
Finally, how do you collaborate with other aspects of
the industry to address issues around fraud in insurance?
What does a proactive fight against fraud look like to
you?
At Marshmallow, we have a bias for creating our own
solutions. However, we are unable to achieve this alone.
A
We leverage and contribute to a number of industry
datasets. Recently becoming members of the Insurance Fraud
Bureau (IFB) is an exciting step for us, where we look forward to
collaborating with their teams and other insurers over industry
wide threats.
Positive steps have been made in how data is shared, particularly
with the IFB making great strides in modernising their platforms.
However, this type of collaboration should not be the only aspect
of a ‘proactive fight’.
As insurers, we should challenge ourselves to raise a better
culture of fraud awareness and its impacts, nurturing a change
in behaviour towards insurance. The foundation of this must
come from us building a higher level of trust in the industry,
demonstrating that we are always here to fight for the genuine
customer.
Ghost Broking has become progressively more sophisticated in
recent years, with online platforms providing a rich market of victims
to target. When coupled with an increasing use of Identity theft, the
task of identifying the genuine customer is harder than ever.
In claims, a rise in bent metal fraud is evident, and the line between
credit hire ‘fraud’ vs. ‘sharp business practice’ is becoming
increasingly blurred. Many attribute this development to recent
Personal Injury reforms, driving a change in behaviour from claimants
and their representatives, a picture we will continue to see develop
over the months and years ahead.
Ash Jackson,
Head of Fraud, Marshmallow
Evidence of links to other organised crime, such as county lines
drugs operations, remain a stark reminder of the wider impacts of
application and claims frauds.
Whilst these fraud types will remain evolving, the constant at
Marshmallow is our customers. As such, our focus is to continue
to provide comprehensive fraud protection through a blend of
technology and investigation in a way that compliments the
customer journey at all stages.
MODERN INSURANCE | 53

2024 Upcoming events...
19/01
Motor Claims
Networking
Lunch
14/02
I Love Claims
ILC Day
07/03
Home & Property Claims
Specialist
Subsidence
Conference
25/04
Claims Essentials
New
Generation
17/05
Home & Property Claims
Networking
Lunch
06/06
I Love Claims
Partner Day
27/06
Conference
03/07
(early afternoon finish)
Claims Essentials
ClaimsTech
07/11
MGA Claims
Conference
03/10
Motor Claims
Exclusive
Conference
28/11
Home & Property Claims
Conference
Further events dates to be confirmed soon.
iloveclaims.com
I Love Claims

FEATURES
Skills Stalling Business Growth
More than one in five SMEs believe a lack of skills will stifle growth in 2024. According to a survey
carried out by The Federation of Small Businesses, 22% of respondents believe the challenges
around recruitment and retention will have an adverse impact on trading in the next 12 months.
That figure rises to 28% for the manufacturing sector, and 23% in technical industries.
Within motor claims, the crisis is severe. The IMI identified an
existing shortfall of 18,000 technicians capable of handling
repairs to Advanced Driver Assistance Systems (ADAS) repairs,
something that will only increase as ADAS becomes more
mainstream.
Some forward-thinking businesses within the sector have been
addressing the issue independently for a long time, rather than
relying on wider industry or governmental strategies.
For example, Gemini Accident Repair Centres, which introduced
its own apprenticeship programme in 2017, has recently
celebrated Platinum Membership status of The 5% Club,
becoming one of just three per cent of all members to do so.
Building on that, it has now attained approval to deliver GQA
National Qualifications.
Meanwhile, Steer Automotive has placed a greater focus on
apprenticeships, with a dedicated awards event and plans to
nearly double numbers over the next 12 months, Meanwhile,
LKQ Euro Car Parts has just launched its first Graduate Scheme,
supporting new starters on their career path into the finance
sector.
Competition
However, with the skills gap widening across all industries, the
long-term challenge remains to attract the ‘Next Generation’
to the sector. Dedicated apprenticeship charity AutoRaise
has been promoting the industry during a series of visits to
apprentice and school-leaver events, showcasing the tools
and technology in the sector and highlighting the full scope of
career opportunities.
However, the stubborn perception that apprenticeships are a
poor relation to university degrees is working against them.
Research carried out by UCAS - which has been helping school
leavers progress into Higher Education for more than 30 years,
and has spent the last 18 months updating and developing its
advice and guidance around apprenticeships - revealed that
only 57% believe an apprenticeship can lead to a good job,
and just four per cent associate the word ‘prestigious’ with
apprenticeships.
by the pandemic and the global trend towards remote working,
enabling employees to consider a much wider net of potential
employers.
Continuous training is therefore critical to retaining top talent.
However, in practical terms, this is easier said than done.
Digitalisation and other technological developments demand
investment, and business owners can only spend a pound
once. This has created a conflict between investing in talent or
technology, yet a recent session held at ILC’s Exclusive Motor
Claims Conference addressed this directly, where Crescens
George (CEO of Wiser Academy) and Manjit Rana (GM
Insurance, UK, EMEA & APAC at Clearspeed) agreed that it was
not an either/or debate.
Crescens said, “You can’t have one without the other.
Technology is good at the mundane processes that humans
don’t want to do, but insurance is often an emotional
experience and technology won’t be able to provide that level
of interaction in our lifetime. It works best when it augments
what humans do, but it can’t do everything. There will always be
times when humans add more value, so you have to continue to
invest in people”.
Manjit agreed, saying, “Technology
can replace so many jobs, but
the jobs it can’t replace are those
that require human-to-human
interaction and human empathy.
Insurance relies on those roles,
so investment in technology and
people should go hand in hand.
We need to equip the right people
with the right knowledge, skills and
behaviours”.
Pete Milsom, Partnerships Manager – Apprenticeships, at UCAS,
said, “There is a lot of work to do to make apprenticeships
a credible option for people; awareness is low, and there
are many negative misconceptions associated with
apprenticeships. Compared to those entering university,
the apprenticeship journey isn’t well supported. There
is no single source of truth for anyone trying to find out
more about it.”
However, the benefits are obvious. Milsom continued,
“Having apprentices as part of the workforce allows
employers to shape how their team is trained, so the skills
relevant to their organisation are developed and a pipeline of
talent is created for the future”.
Culture
But even if businesses do manage to attract new talent,
retaining that talent is no easy task. This has been exacerbated
MODERN INSURANCE | 55

FEATURES
BEST
PRACTICE
AND USE OF
TECHNOLOGY
Q&A with Ian Carman, Sedgwick
International UK
Ian Carman.
Director - Head of
Investigation
Services, Sedgwick
International UK
Lior Koskas.
CEO, Digilog UK
Lior Koskas, CEO at Digilog UK, catches up with Ian
Carman, Director - Head of Investigation Services
at Sedgwick International UK, to discuss fraud
detection and prevention technology, automation,
and a multi-layered approach to tackling fraud risks.
Q
A
Ian, Sedgwick are proud of their procurement process
when considering new counter fraud technology. Can you
tell us more about this?
Our counter fraud strategy consists of three key pillars:
Technology, People and Insight. We place equal reliance
on each of those pillars to ensure that our response is
robust, delivering on the counter fraud ambitions of our clients.
The technology we use allows us to make rapid, accurate and
explainable assessment decisions without unnecessary interference
in the customer’s claims experience. Importantly, the technology
represents a proportionate and ethical approach to the diverse
variety of fraud risks we’re tasked with assessing.
Is there a silver bullet when it comes to fraud detection
and prevention technology?
Q
A
No, and if there was, it would probably only represent a
silver bullet for a few hours! Assessing and combatting
fraud isn’t about a single piece of technology, however
sophisticated it claims to be. It’s about effective risk evaluation,
together with the right technology and layers of human expertise
combined. The solutions we have in place allow us to identify
emerging patterns and trends almost as they occur, and the insight
pillar of our strategy plays a key role in our fight to be one step
ahead of the fraudsters who constantly evolve their tactics.
When we tackle a specific threat, predicting how that will change
a fraudster’s behaviour or modus operandi can be like predicting
the weather. Difficult, but not impossible with the right data and
human analysis. A good example of this is an emerging side effect
of claims automation. A digital claims journey provides a platform
to automate many effective fraud checks – those around KYC and
document/image validation, for example. As a TPA, we’re already
seeing committed fraudsters choosing telephony over digital based
interactions with our business to attempt to circumvent strong
digital controls. Being alive to that changing behaviour - and better
still, predicting it - allows us to ensure our control measures are
equally robust across each customer channel.
Q
A
Automation is a ‘buzz’ word in the industry right now when
it comes to claims handling. What are your thoughts on
this new trend?
Ten years ago, the thought of claims automation scared me!
However, there are obvious benefits for both the insurer
and the customer when you recognise the opportunities to
deploy highly effective tools, tools that can validate the identity
of the customer, understand their claims history, accurately assess
the level of fraud risk, and validate any documentation or images at
scale without unconscious bias, all in a matter of seconds. Speed,
consistency, and accuracy of decision making is much improved,
and the customer experience is enhanced as a consequence.
Success, however, takes a deep and holistic understanding of
the opportunistic and organised fraud risks presented by digital
automation. Of course, talented counter fraud practitioners are still
required to tackle risks and ensure that controls are continually
optimised.
Q
You talk about a multi-layered approach to tackling
fraud risks. Taking technology in isolation, how does that
manifest itself?
Often, technology solutions will play a primary role in
assessing risk at scale and pace. It will also play a role in
A situations where our people simply can’t compute industrial
levels of historic data, or spot document amendments that remain
invisible to the human eye.
We also use technology to aid efficiency when we’re assessing
what appears to be a suspect claim. One example is our partnership
with a leading provider of voice risk analysis software. We’ve seen
a decrease in call handling time since its adoption in 2021, allowing
us to get to the crux of the matter much sooner, fraud or otherwise.
We’ve also seen increases in admitted fraud rates and decreases in
complaint volumes. The technology allows us to rapidly pin-point
areas of concern and focus our investigative efforts there.
Early next year, we’ll be launching a highly sophisticated
voice-to-text fraud identification solution which will further support
our mission to protect our clients’ honest customers from the cost
of fraud.
MODERN INSURANCE | 57

FEATURES
6
ARTICLE
The New
Kids on
the Block
This article marks the final contribution to my ‘Thinking Upside Down’ column in 2023. In each issue,
I’ve penned a counter-intuitive idea that opposes accepted wisdom. I’ve done so not to be contrary
for its own sake, but as a device for looking at the world of insurance from the opposite perspective,
yielding better business outcomes in doing so.
Over the last year, I’ve questioned how we can change the
perception of insurance. If we want to lead banking rather than
vice-versa, then we have to stop telling ourselves that we’re
all about the customer, and be more open and honest about
the fact that we’re anything but. We need to move from selling
empty, grudge-based products we hope customers will never
use, to its opposite; creating products that customers value and
therefore want to buy.
I’ve looked at how we could lift the insurtech sector as a whole,
by changing our mindset from thinking in terms of competition
to defaulting to its opposite, collaboration. We stand more to
gain as an industry when we are open to ‘co-opt’ with those
that we think of as our competitors, or adopt an insurtech that
we think could be a future challenger.
In the Social Mobility issue, I suggested that the path to
meritocracy was to be found not in the pyramid-like corporate
hierarchies that are designed to keep employees in check, but
by introducing its opposite – a flat, zero-hierarchy company
where all team members are encouraged to see themselves as
leaders, an idea currently being scaled at Claim Technology.
As we consider what 2024 may hold, it seems timely to reflect
again on ideas that are opposite to what we believe to be true,
but which counter-intuitively may hold the key to growth.
Claim Technology has been the ‘new kid on the block’ from
insurtech 1.0. From being the first insurtech to offer a
Claims-as-a-Service model, where claims processes could be
re-imagined and re-designed in the cloud as a wrapper over
legacy systems, to being the first insurtech in 2.0 to offer an
Insurtech Marketplace with plug&play solutions that could be
deployed with a single click, Claim Technology has a proud
history of thinking differently and re-defining how we approach
technology to achieve the change we seek. I’ll therefore end the
Thinking Upside Down series on a technology note.
Over the past few years, we’ve become accustomed to the
term ‘build or buy’, questioning whether it is better to build
solutions in-house or buy-in technology from elsewhere. Almost
universally, we now default to the latter, yet whether you
choose to own the tech or not, it seems that you’re still left
with the complexity of managing these systems.
The same relationship holds with automation and productivity.
Despite 30 years of business process automation, where
we were meant to be relieved of burdensome admin and
re-assigned to focus on more value-added tasks, employee
productivity hasn’t improved much at all. In fact, it may have
fallen, and if GenAI follows the same trend, we should expect
more of the same.
Thinking upside down, perhaps we have focused on the means
rather than on outcomes? Have we all been seduced by the
promise of the latest technology as a silver-bullet cure for all
ills? Sucked into cycles of replacing whatever we had before
with newer technology, but with the same results? What if
instead of focusing on the inputs, we focused on the output, or
said differently, switch from the need to create to the desire to
simply consume?
The rise of embedded insurance is a positive step in this
direction, to the extent that you don’t have to create or even
know anything about insurance in order to sell it. You just
consume a snippet of code that you can embed on your
website, or inside your point of sale. This simple idea is
enabling banks, retailers and anyone else to knock out the
direct relationship between insurers and consumers.
In a similar vein, Claim Technology is leading the way with
‘embedded claims’, or in other words, the idea that you don’t
have to build your own claims
processes at all. You can simply
embed a claims resolution
capability into any channel,
enabling customers to self-serve
the resolution of their claims
within seconds. To me, taking
five minutes to achieve the Holy
Grail of claims transformation by
consuming nothing more than a
snippet of code is far preferable
to the opposite strategy we’ve
all been working with for the
last 30 years. Hopefully, the new
kids forming the Next Gen of our
insurance workforce will agree
with me.
Michael Lewis,
CEO, Claim Technology
MODERN INSURANCE | 59

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LIVING IN A
FEATURES
Just a
Thought
from Eddie Longworth
In the last decade, perhaps one of the least surprising aspects of the
much-proclaimed revolution in the provision, management, and delivery of insurance is that
the over-hyped and over-promised outputs of new business models has not been forthcoming.
Ultimately, successful insurance financial models depend
on only three factors – underwriting, pricing, and claims
management. Everything else is just the fluff that goes around
the edges. Should you fail in one or more of these elements,
then the marketing, the bean bags in Reception, and a
willingness for older people (who should know better) to dress
in chinos and ragged t-shirts, will all count for nought.
The ‘new kids on the block’ have come and gone, with barely
a ripple on the surface of a glacier-like sector renowned for
its resistance to change (but which has somehow survived for
centuries). Those that have looked even remotely successful are
simply acquired by their much larger brethren, where the subbrands
will surely disappear (along with the original founders of
the so-called disruptor insurtech) in a labyrinth of new rules, red
tape, and risk avoidance committees designed to strangle the
entrepreneurial spirit.
However, if you, the reader, thinks me too cynical in my
assessment, then let me pause awhile and mention my favourite
(and obsessive) subject, one that may serve to assuage some of
your fears.
Claims Management
In the world of claims, there are also only three elements
that truly matter. Most importantly, the insurtech world has
developed a greater understanding of the role these elements
must play in helping to develop new answers… but more of that
later.
The three undeniably critical and all-consuming factors are,
of course, indemnity spend, operational expenses, and the
customer experience. The claims department is constantly
seeking the right balance within this Holy Triangle, with
occasional forays into one or other extreme corner (usually
by abandoning anything remotely resembling a half-decent
customer experience), before a cautious equilibrium is restored.
New tools to detect fraud, extensive use of imagery and
3D modelling, intelligent use of a new ability to auto-read
documentation; these are just a few of the more innovative,
useful applications with stickability that have found their way
into the mainstream of claims handling. By and large, they have
also been developed by external players. Insurers may still have
been a little slow to adopt and adapt to these new tools, but
nevertheless, the trend is welcome and set to embed itself in
future developments.
Destination Failure
But let me finish, if I may, with a cautionary tale of how not to
implement new technology solutions in the claims department
– particularly around automation.
I know of an organisation (not one of my clients I hasten to
add!) who is seeking to replace a relatively small scale, old and
dying claims management system. To determine their needs,
the IT department (non-claims and supply chain specialists)
have asked the claims operations team to describe the existing
manual processes, workarounds, and all other idiosyncrasies
that prevail today. That same IT department is now seeking
to automate those same processes with the help of external
suppliers who are also not specialists in the claims and supply
chain arenas, (but who are probably cheap!).
The result will, of course, be a stunning ability to do the same
(wrong) things as they were doing previously, but now even
faster. And the claims
system that looked cheap
in the first instance? You
guessed it…
If you think me too
cynical, dear Reader, may
I refer you to the opening
paragraphs of this article!
Eddie Longworth,
Director, JEL Consulting
MODERN INSURANCE | 61

SHAPING THE FUTURE OF
SUSTAINABLE MOBILITY
Take charge at europcar.co.uk/business
or call 0371 384 0140

FEATURES
LEARNING FROM
LEADERS:
How C-Suite
Thought Leadership
Promotes Business
Growth
Insurance industry success is
bolstered by integrating the
C-suite into communications
strategies, helping strengthen
connections with audiences.
You don’t need me to tell you that
competition is fierce in the insurance
sector. Insurance businesses that place
effective communication at the top of
their agenda tend to be the ones that get
the most attention from target customers.
That’s because effective communication
facilitates understanding, builds trust and
strengthens relationships, establishing a
provider or broker as a sector expert.
It also helps insurance businesses to
navigate long sales cycles. Think about
the 95-5 rule 1 – the theory that around
95% of a B2B buyer’s journey (from
initial awareness to consideration and
evaluation) happens through
self-directed research, with just the
remaining 5% involving engagement with
sales representatives. In this case, having
a strong presence and making your
business highly ‘Googleable’ makes total
sense.
The idea is that high-quality, strategically
placed content fosters deeper
engagement with target audiences.
However, the challenge lies in a business
landscape that’s saturated with corporate
coverage, most of which lacks any value.
It’s crucial to think about quality, and not
just quantity or visibility.
But is it really worth the investment?
According to a LinkedIn and Edelman
report 2 , 54% of decision makers say
they’re motivated to consider new
product or service purchases based on
compelling editorial.
Keeping communications real
So, why not tap a few words into
ChatGPT and see what comes up? While
artificial intelligence (AI) is revolutionising
so many aspects of the insurance world,
we’re starting to see renewed interest in
the value of human interaction. Maybe
this comes as a result of being separated
from colleagues and peers during the
pandemic, but human involvement has
come to lend a sense of authenticity,
which creates additional value as a
consequence 3 .
Robots now lie behind so much of our
content creation, and where businesses
distinguish themselves, expressing
authentic and relatable human experience
is proving to be a successful strategy. In
fact, openness has become fundamental,
with more business leaders in the
insurance sector embracing transparency
and admitting mistakes alongside
triumphs.
With this new emphasis on humanity
and trust, the visibility of senior
leaders is becoming more important.
Executives that throw themselves into
PR initiatives – opinion articles, podcasts,
networking events – can contribute to
building internal unity as well as external
credibility. It’s a way to connect with
Fantastic ideas
and implementation
have really
helped enhance
our brand and
communications
- Elliott Wallis,
Senior Marketing Manager, Arch Insurance
employees, fostering trust and reducing
staff turnover. It also demonstrates
authenticity and expertise, strengthening
business reputations.
Understanding audience concerns
Gaining attention is only the first hurdle,
though. The true challenge for insurance
businesses lies in responding to audience
need, and then shaping thoughts and
actions on the back of this.
For example, where do you start if you
want to position yourself as the
top-of-mind insurer for SMEs? It begins
with developing a deep understanding
of the SME market, and then letting
prospects know about the tailored
services on offer that address their unique
challenges.
A robust online presence, including
active social media, engaging website
content and strategically placed thought
leadership, all helps to establish a
business as a hub of information and
resource. Plus, client testimonials and
case studies underscore credibility,
showcasing the positive impact of a
firm’s expertise.
This is something we did recently for
Arch Insurance, who asked Midnight
Communications to help position their
business as an SME specialist in the
UK broker market. We pulled together a
multi-faceted campaign that included fresh
website copy and video content for the
company’s social channels that spoke to SMEs.
Compelling thought leadership that addressed
the kinds of issues that keep SME business
leaders awake at night was activated too,
with C-suite spokespeople positioning Arch
Insurance as the go-to business.
Providing original insights
Once audience need has been identified, a
piece of thought leadership should convey
an original idea, with fresh sector insights.
This is easier said than done, not least
because it requires a continual audit of the
media to ensure insurance business leaders
aren’t simply trotting out well-worn tropes.
Again, this is where a PR strategist can prove
invaluable. They can highlight key issues, help
drill down to those unique viewpoints, and get
them in front of the right people.
A good insurance PR knows what gets media
attention, and we know how to get to the
opinions that media outlets crave. Put these
things together in a way that responds to your
insurance company’s ambitions, and you’ll
have a potent set of tools to help grow your
business.
Flo Powell, Joint Managing Director,
Midnight Communications
Midnight Communications is an award-winning
B2B PR agency, as well as a sponsor and judge
at the Insurance CX Awards 2024.
1
https://assets.foleon.com/eu-central-1/de-uploads-7e3kk3/30230/
advertising-effectiveness-and-the-95-5-rule_002.87e3217ac41e.pdf
2
https://www.edelman.com/expertise/Business-
Marketing/2022-b2b-thought-leadership-impactreport#:~:text=Decision%2Dmakers%20expect%20
high%2Dquality,their%20business%20during%20a%20downturn.
3
https://psycnet.apa.org/record/2019-34167-000
MODERN INSURANCE | 63

Consumer Duty and
Consumer Expectations
for Replacement Vehicles
The motor insurance landscape is complex. Focus on the customer experience
and retention, all while tackling big challenges like rising claims costs and fraud,
remain front of mind right now for most brands and carriers.
However, there’s another challenge at play that is
likely to attract scrutiny from the regulator. The first
few months of Consumer Duty guidance places a
fresh onus on replacement vehicle expectations,
with many elements of the supply chain fighting to
deliver their obligations under the new regulations.
We wanted to know how these changes have
impacted the insurance industry so far. What
contingency plans come into play when carriers
work on a sole supplier basis? Does the supply
chain break down, or are there fail-safes in place
to prevent dissatisfaction and complaints from
customers? With some carriers pausing electric
vehicle (EV) insurance, what are the key areas of
concern for EV cover right now? And looking to
the rest of 2024 and beyond, how are insurers
pivoting operations to service the EV market in
particular?
We sat down with a panel of industry experts to
further consider these points.
How has the new guidance
impacted the insurance sector so
far, including supply chain
requirements for replacement
vehicles?
Chris McKie, Vizion Network: Consumer Duty
Guidance should be seen as positive by intent, but
in many areas, it is also very subjective. In many
cases, insurers have been left unnecessarily
doubting themselves, their processes and their
delivery. In turn, some are taking uneven actions in
an attempt to second guess the unguessable,
ultimately causing havoc in the supply chain.
Micro management causes problems and drives
costs up for the customer as the industry wrestles
with a slowly recovering parts and vehicle supply
mechanism, still significantly wounded from Brexit,
COVID-19, semi-conductor shortages, and the
conflict in Ukraine.
The recent auditing around total loss settlement
and vehicle replacement, both in terms of new
car and mobility, has been one of the most
widely publicised areas. This has left many
insurers (and the wider supply chain) in long,
drawn-out, painful and repetitive processes,
adding huge stress to businesses and individuals
trying to restabilise post-COVID. It would be
ideal if the governing body could conclude these
processes as quickly as possible at this stage, and
focus on those with more obvious issues around
non-compliance.
Craig Budsworth, AX: It’s vital to have a full
working knowledge of the Consumer Duty issues
that apply to insurers, because each element of
the supply chain is heavily intertwined. At its heart
though, Consumer Duty is about looking after the
consumer. Technically, the Consumer Duty
requirements only apply to insurers where the
vehicle supply is part of their regulated activities;
for example, the supply of a vehicle under an
insurance product. However, it is clearly in the
insurers’ interests – in meeting consumers’ needs,
reducing complaints, increasing service levels,
and especially looking after vulnerable
clients – to review their products and service
levels. These provisions are essentially bolstering
the previous FCA requirements for treating
customers fairly.
Insurers have always been keen to ensure that,
whoever the provider, the interests of their
customers lie at the very heart of the service they
receive. We’ve known this for years at AX, and
ultimately, we act as an extension of our partners.
When we deliver our great service, this reflects
positively on other aspects of the supply chain,
too. So, I don’t think the Consumer Duty has
necessarily changed anything, but perhaps some
insurers should be thinking more about a
secondary supplier. Consider how your primary
supplier helps you to achieve those Consumer
Duty requirements, and also consider the role that
a secondary supplier can play in ensuring the
best possible customer journey.
Eddie Longworth, JEL Consulting: Consumer
Duty does not particularly impose any new
obligations around the need to hear from and
listen to your customers, communicate promptly,
and with clarity. This has been a long-standing
regulatory requirement in insurance, but Consumer
Duty does serve to highlight once again that
insurers (and their outsourced claims management
agents) cannot hide behind the so-called failure of
suppliers to deliver contracted services. The
responsibility lies fairly and squarely with insurers
to deliver the goods, and the supply chain model
must be arranged accordingly – along with robust
complaint and redress options for claimants.
“IT’S VITAL TO HAVE A FULL
WORKING KNOWLEDGE OF
THE CONSUMER DUTY ISSUES
THAT APPLY TO INSURERS,
BECAUSE EACH ELEMENT OF
THE SUPPLY CHAIN IS HEAVILY
INTERTWINED.“
- CRAIG BUDSWORTH, AX
James Roberts, Europcar: The insurer needs to
have certainty that their supply chain can deliver
against the requirements of Consumer Duty.
Although all suppliers may not be required to
comply with regulation, it is good practice for them
to follow the FCA guidelines; this means that any
insurer responsibility will flow down the chain to
the organisations that represent the insurance
brand at point of claim. What happens if the
insurer’s supply chain cannot deliver the service
expected by the policyholder? We firmly believe
that sole supply arrangements lead to
complacency, with the risk of service failure and
customer dissatisfaction. Dual or multi supply
doesn’t just promote competition; it provides the
insurer with a contingency in the event of one
partner being unable to fulfil the promise of
service provision.
64 | MODERN INSURANCE

So, how does an insurer guarantee
that the services they have sold
can be delivered when working on
a sole supplier basis? What
fail-safes are in place?
Eddie Longworth, JEL Consulting: The short
answer is that there are zero fail-safes in place if
the insurer chooses to concentrate all of their
demand into the hands of a single supplier. There
are some regionally constricted markets, such as
accident repair, where this strategy can be made
to work. But for a national supply arrangement
such as that of replacement vehicles, I would
always recommend a multi-supplier model that
creates constructive competitive tension between
the participants. The aim is to draw out the best
from each supplier and to share relevant
comparisons on a confidential basis to highlight
the necessary areas for improvement.
John Ashmore,
Acting MD of Claims,
Direct Line Group
Chris McKie,
Managing Director,
Vizion Network Limited
John Ashmore, Direct Line Group: From our
perspective, Direct Line Group own 23 Auto
Repair centres nationwide, with one of the largest
externally qualified Engineering Field and
Desk-based Engineering teams. They are
responsible for managing repair quality and
control indemnity to the benefit of all our
customers. That being said, it is vital for us to have
a robust resilience plan in place. I have full
confidence in our motor repair services at Direct
Line Group, but there is also a secondary supplier
in place for us to call upon if required.
Chris McKie, Vizion Network: ‘Guarantee’ is a
very big word! I think there is a bigger underlying
question within this that asks, how does the insurer
and the supplier provide the customer with the
correct expectations in the first place? There are a
number of mitigating factors that can interfere with
this ‘promise’ long before a sole supplier becomes
a risk. However, in relation to the supplier, the
obvious element is scale, measured on a
worst-case scenario basis by volume and
specialism. This is not a particularly difficult
exercise, but historically, insurers are not fantastic
at providing their suppliers with their policy
numbers or claims numbers. So, there can be a
certain amount of guesswork going on based, on
average, on both sides of the equation. We are
no longer in an historically average world, and
this hasn’t been so for a while. Better information
and more innovative processes will significantly
reduce risk in this scenario, particularly around the
issues of mobility.
Craig Budsworth,
Group Technical Director, AX
James Roberts,
Head of Insurance Sales,
Europcar Mobility Group UK
Eddie Longworth,
Director, JEL Consulting
MODERN INSURANCE | 65

Craig Budsworth, AX: Just as good service
reflects positively on our partners, the same
applies when poor service occurs. No matter how
hard a company tries to avoid it, something will
occasionally go wrong. Having a secondary
supplier is important for insurers, particularly
during these rare occasions. If anything, this also
highlights another key component in Consumer
Duty relating to communication, ensuring that
clients who are not happy with the service
received can be kept up to date and understand
what is going to happen for their needs to be met.
Insurers will no doubt be looking at their supply
chain and monitoring metrics such as complaints
volumes and NPS scores – a measure that results
in positive feedback at AX. However, this is not just
a number. The whole complaints handling process
should be communicated and assessed so the
insurer can know if this meets their own standards,
as well as the standards expected by the FCA.
“IT IS VITAL FOR
US TO HAVE A
ROBUST RESILIENCE
PLAN IN PLACE”
- JOHN ASHMORE, DIRECT
LINE GROUP
James Roberts, Europcar: Insurers can spend
significant time planning, forecasting and
onboarding a sole supplier to deliver a dedicated
service to their customers. Some organisations
may even promise a ring fenced and dedicated
team. However, the challenge arises when ‘all’
insurers want the same level of service and
preferential treatment. At this point, ‘best
endeavours’ can catch a business out, even in a
market where supply has returned and parts
availability has improved. In addition, if the
supplier services other sectors as well as insurance
(such as leisure), fluctuating demand could
inevitably cause regional or national service
uncertainty at some point in the year. It is our view
that an insurer should sacrifice the perceived
advantages of having a sole supplier for more
competition within their supply chain. They should
also challenge their supply chain to continually
develop and improve their service offering.
Given the recent press coverage
around some carriers pausing
coverage for electric vehicle (EV)
insurance, what are your present
areas of concern in relation to EV
cover?
John Ashmore, Direct Line Group: Insurance
traditionally looks to the past to predict the
possible future, so one of the immediate concerns
for the industry is that we don’t have the same
wealth of data for EV’s as we do for Internal
Combustion Engines (ICE) vehicles. In addition to
this, insurers need to consider how the switch to
electrification affects drivers who will need to
come to terms with faster acceleration,
regenerative braking (which allows for one-pedal
driving), along with charge and range anxiety, all
of which suggests that customers will drive an EV
differently to an ICE vehicle. However, Direct Line
Group are committed to the Electric Vehicle
market, and continue to offer car insurance from
major manufacturers including Tesla, Volkswagen,
and other mainstream brands, subject to individual
circumstances.
Chris McKie, Vizion Network: This is a vast
subject. Putting infrastructure issues and general
costs aside, I am mostly concerned by the thermal
runaway, residual values, and the Government’s
approach to the manufacturer’s and carbon
legislation. Thermal runaway occurring from
battery damage, sometimes weeks after the event,
is a very popular worry at the moment. I think
many are having nightmares about an EV
catching fire, or being part of a fire that
subsequently damages buildings or results in loss
of life. We have seen a catastrophic fall in the
used vehicle value of EV’s recently, as supply and
demand seesaws alongside public demand. The
government is also holding fast on the vehicle
manufacturer’s EV sales targets for 2024, which, if
not achieved, may cause manufacturers in the UK
to rethink their model, volume, or even pricing
approach to counteract sanctions and fines.
James Roberts, Europcar: As a mobility
provider, our fleet must respond to the demands of
our customers. Our fleet and our infrastructure
must be ahead of the trend. Driving an EV is
different from petrol or diesel and it’s important for
drivers to have confidence, in the driving
experience but also in battery life and charging.
Europcar has, therefore, invested in specific
practical and classroom training for our people,
who are ready to give the necessary support to
EV drivers.
We have also created a dedicated insurance
support team to offer expert advice, both before
and during hire, to ensure customers enjoy the
driving experience without any anxiety. Plus, our
delivery agents and rental station staff all have the
same level of EV experience. This means that a
customer will get the same expert level of service,
regardless of whether they are collecting a vehicle
from one of our stations or having it delivered to
their office or home.
”OUR FLEET AND
INFRASTRUCTURE
MUST BE AHEAD
OF THE TREND”
- JAMES ROBERTS, EUROPCAR
In that case, looking to 2024 and
beyond, how are insurers pivoting
operations to service the EV
market in particular?
John Ashmore, Direct Line Group: Last year,
we launched our new Technology and Training
Centre based in Birmingham, where we are able
to build an engineering understanding of
emerging technology and deliver accredited
training to help us prepare accordingly. We
currently have EV qualified technicians in every
auto services site, and have rolled out EV
awareness training in all sites across the UK.
Direct Line Group have also recently gained IMI
accreditation, which will help us to develop
learning solutions where skills gap trends might
be emerging.
Chris McKie, Vizion Network: Most insurers
appear to be adopting a range of products and
approaches to EV, but many are also exercising
targeted caution. Courtesy cars are the elephant
in the room. EV courtesy cars are problematic
because they are extremely expensive and simply
not available. Without a sensible reinvention of
the mobility model, I believe that EV will be the
straw that breaks the camel’s back in the coming
years.
James Roberts, Europcar: We believe that the
claims experience is one of the largest issues for
the insurance sector. Policyholders who have
purchased an EV expect an EV hire vehicle in the
event of an accident, irrespective of fault and
whether the replacement vehicle is to be supplied
by a credit hire company, bodyshop or vehicle
rental partner. That’s why we have a clear strategy
in place, which involves the continuous addition of
PHEV and BEV models to our fleet, doing our part
to help insurers in their fight to meet that customer
expectation.
To find out more about Europcar solutions for the
insurance sector, visit europcar.co.uk/business.
66 | MODERN INSURANCE

mins with...
What is your most memorable career achievement?
Q
A
Ellie Webster
Title: Former Chair of the Next Generation
Insurance Network
My most memorable achievement to date is chairing
the Next Generation Insurance Network (NGIN). NGIN is
an independent member-led network that organises a
calendar of events, providing insurance professionals with the
opportunity for networking and professional development.
I first came across NGIN at a speed-networking event in my
first year of insurance, and applied to join the Committee as
Newsletter Editor that summer. Over the next five years, I got
involved in almost all areas of the Committee before taking on
the role of Chair back in 2021. NGIN is one of six Inclusion@
Lloyd’s partner networks, and getting to know the other partners
has been just one of many highlights, not to mention the annual
NGIN Summer Boat party! I passed over the position of Chair
this summer, and look forward to following the NGIN in all future
successes.
Of all the advice you’ve received, what has been the
most valuable?
Q
Early on in my career, I was taught about the value of
active listening. Active listening can go a long way in
A establishing relationships and building rapport with
others. When you talk, you are repeating what you already
know, but when you listen, you can learn something new.
What has been the key positive or negative impact of
change in your area of the market?
Q
In my current role, I am an Assistant Underwriter in the
North American Property Facilities team at Brit Insurance,
A focusing on commercial and personal lines. Since joining
the industry in 2017, this area of delegated authority has been
negatively impacted by increased frequency and severity of
catastrophe weather events.
This has been a challenging period for the market. Insurance
carriers have had to carefully review their US wind exposure
and improve the adequacy of pricing. Although there have been
challenges, there has also been a focus on improving data quality
and coverholder analytics during this period. I’ve enjoyed being
a part of these developments, which allow us to better work with
our coverholder partners to build resilience in what seems to be
a new norm of weather activity.
If you were not in your current position, what would you
like to be doing?
Q
A
I would love to be doing something related to house
renovations. I can spend hours on Rightmove looking at
floorplans and rearranging room layouts! Hopefully I’ll
get to take on a big renovation project myself one day.
What three items would you put on display in a
museum of your life, and why?
Q
A
My Chicago White Sox Jersey is a great souvenir from my
first work trip to the States in September last year. I had
the opportunity to spend two weeks visiting coverholders
in their offices and learning more about how they operate day to
day, as well as attending my first WSIA conference in San Diego.
I would have to include a netball, too. I’ve been part of various
teams over the last few years, including a mixed netball team
at work. This year, we won gold at the corporate games in
Warwickshire (although only one other mixed team entered!).
It’s been lot of fun and a great way to meet new people.
Lastly, I would include a bar of Marabou chocolate from Sweden.
I have family in Sweden and spent all my summers there growing
up. Marabou is my favourite chocolate and brings back lots of
fond memories (you can buy it in IKEA).
What three guests would you invite to a dinner party?
Q
A
I would have to invite two of my oldest friends, who I no
longer get to see enough as they live so far away. I’m also
a big fan of MasterChef at the moment, so I would also
invite Monica Galetti, who would no doubt cook up something
delicious.
Market-Leading Outsourced Claims Services
www.carpentersgroup.co.uk
MODERN INSURANCE | 67

INSUR.
TECH.
TALK

INSURTECH
WELCOME
Greetings, and welcome
to Insur.Tech.Talk!
November marked the one-year anniversary of OpenAI’s release of ChatGPT,
and AI continues to unleash its potential across the industry like wildfire. A
recent Celent survey found that by the end of 2023, half of insurers will have
tested generative AI solutions, with more than 25% of insurers planning to
have solutions in production by year-end. These numbers are significantly
higher for larger insurance companies, and they are likely to keep increasing
as enterprise generative AI solutions and platforms proliferate and become
more accessible. The report also cautioned that there are still many unknowns.
Speaking of wildfires, catastrophic events are on the rise across the globe. The
average global mean temperature between January and October 2023 was
the highest on record, beating the 10-month average for 2016 by 0.1C. Those
who attended Insurtech Insights in NYC last June witnessed the orange
apocalyptic skies coming from the wildfires raging across Western Canada,
and can attest to the seriousness of climate change and its impact to P&C
insurers. The time is now for predictive and preventative climate technology to
promote climate resilience.
Speaking of predict and prevent, there are new waves of innovation arising
in the L&H space, with predictive analytics, early cancer detection, wellness
programs, devices and apps, all paving the way for people to live longer,
healthier, and happier lives. These were strong themes at the recent LIMRA
Annual Conference. We are at the dawn of a new paradigm of policy holder
engagement in their wellness. The more these technologies are leveraged, the
more the commercial impact to L&H carriers could be greater over time.
These are some of the trends I will be watching in 2024. Please enjoy hearing
from some of the top thought leaders and influencers in our industry as they
share their own unique viewpoints.
Megan
Megan Kuczynski,
President,
Insurtech Insights
MODERN INSURANCE | 69

INSURTECH
360 Digital Immersion
QLisa, you’ve had an incredible year. Your skill in
hosting ‘fireside chat’ sessions and commanding the
main stage at influential industry conferences is so
impressive!
I’ve had the pleasure of listening to your captivating podcast,
‘Insurance Unplugged,’ which is an absolute must for anyone
interested in insurance innovation. Your ability to identify
patterns and trends is remarkable, and I’m eager to hear all
about what you’re currently observing in the industry!
Thanks Megan - what a year 2023 has been for
insurance and insurtech!
ABeyond just going digital, we are fatigued with the mission
of making what we do a bit faster. I call this the ‘treadmill
approach’. We simply must extend the initiatives around
changing our business much more holistically, and I believe
strategic funding internally is now appropriately demanding
this.
Macro-economic headwinds, capacity constraints and
investments is down in insurtech overall. This is countered with
AI enablement at new levels, such as LLMs and generative AI,
boasting the ability to affect our entire insurance operational
value chain.
QWhat are your predictions for 2024, and what are the
technological, economical, and business implications
of these developments?
ALast year, I focused on dynamic vs. static. Most have
not enabled dynamism yet, so I expect this to be a
continued trend in 2024 and beyond.
I also believe that we are rapidly moving into a need to act
with everything. I call it the ‘adverb phase’ of insurtech; my
focused prediction for 2024 is that everything will need to be
‘applied’. Think of it as something beyond the PowerPoint, the
POC or R&D. 2024 will be the year of application in everything
we do!
Q
And finally, what’s next for Lisa in 2024?
AI will be focusing on applied AI as well as continuing
to support the strategy across the value chain. I’m
expanding ‘Insurance Unplugged’ seasons, and will
also be launching an additional podcast - stay tuned!
‘Authentic Identity Masterminds’ will be launching across
multiple global cities, including a bespoke virtual version
with some esteemed partners that I simply cannot wait to
unveil. Of course, I’m also looking forward to many insurance
conferences and thought leadership opportunities in 2024.
I’ll be focused intensely on combining the Lego approach
to reducing redundancies in insurtech capabilities, creating
embedded partnerships that create an integrated design,
and working to elongate the POC concept. I’m looking
forward to 2024, and there’s always room to pivot as new
patterns emerge.
Lisa is an innovative, highly-experienced insurance
executive who combines her deep decades of
experience serving as CXO (CFO, COO, CSO) for
some of the largest insurance institutions (Munich
Re, Famers/Zurich, ING/Voya, PwC) with her
entrepreneurial drive to rapidly help startups succeed in
the insurance industry in North America.
Her ability to create innovative insurance solutions
across the P&C, life and health insurance marketplace
provides targeted guidance and solutions to expedite
the global launch of insurance innovation and
insurtechs.
I also believe that we will see insurtech focus less on full
stack carriers and more on deep circular business model
components. I have finally seen the initial movement with a
few select large carriers creating enterprise iOS concepts. This
will continue to define the pioneers in 2024.
QWhat are the most important business imperatives
to focus on in 2024, for both incumbents and
insurtechs? Is there anything keeping you up at night?
AWe must get back to basics, focusing on capital and
capacity while driving change in the economics and
with our mind on innovation. Insurtechs must go
beyond an automation play. They also need to build better;
incumbents don’t need fully stand-alone verticalized solutions
(nor should the cost bear that redundancy). Incumbents need
to move away from the ‘death of the POC’ model, creating
tangible and expedited ways to quickly deploy components in
real-time to harness value.
The limited focus on OpEx perplexes me. We’ve seen that it
does not move the needle enough - we simply must leverage
our technological advances to change the way we think,
and come up with ways to make the seemingly impossible,
possible!
Lisa Wardlaw,
President and Founder, 360 Digital Immersion
70 | MODERN INSURANCE

INSURTECH
Insurtech
Groups
Q
What
are your predictions for 2024, and what are the
technological, economical, and business implications
of these developments?
AI predict that the industry will be at the mercy of
reinsurance in 2024. Reinsurance players will become
a bigger part of the Titan’s balance sheet in revenue
and profits. For smaller regional carriers and insurtech
carriers, 2024 may be a make-or-break year. We will see a
lot more in the way of acquisitions; the year of M&A will be
forced by reinsurance. We will also see more E&S players
spread their wings, with Titans diversifying their risk appetite.
QJeff, it’s great to connect with one of my favorite
online influencers!
You are prolific on LinkedIn, and I was struck by
one of your recent posts. You said, “I have started five
businesses in my life with zero experience entering the
markets I got into. Some are just mistakes that made me
better, but in some cases, I even shocked myself with the
results”.
With this in mind, what advice do you have for insurtechs
out there who are fighting their fight in a hard market?
AI really appreciate you following my content and
listening to my stories, Megan! I have had five
businesses in five sectors outside of my realm of
expertise. They are challenging and hard to navigate, but
there’s something so exciting when you put that challenge
in front of yourself as an entrepreneur, like breathing fresh
air!
We are in one of the hardest climates ever; macro level
global war, global inflation, central banks tightening up,
and rapid climate change. This screams caution, but at the
same time, fortunes are made during a time of chaos. If
you are a Founder or Co-Founder, it’s time to sit down with
your senior leadership team. Understand the tough times
we are in, ask what you are willing to sacrifice and for how
long? The environment is very different now in comparison
to just a few years ago. We raised plenty of funds and had
a lot of reserves in the form of extra team members, extra
burn rate of cash, extra mental capacity to breathe…
QWhat top trends are you currently observing in the
industry?
QWhat are the most important business imperatives
to focus on in 2024, for both incumbents and
insurtechs? Is there anything keeping you up at
night?
AInstead of building totally disruptive new platforms,
improved connectivity of embedded models is still
very much missing in our industry. We need better
reporting via embedded data, and this should be our priority
for the months and years ahead.
QAnd finally, what’s next for Jeff in 2024?
AI think I am looking for a new challenge, taking my
skillset and figuring out what that might be. I have an
amazing team that runs itself every single day. In my
current team, half of the people have been with me for 10+
years. That’s hard to find in this industry!
We are also taking a ‘cruise control’ approach to the Personal
and Commercial lines market. Before we can hyper scale, we
need to guarantee appropriate market conditions. I’m also
looking forward to growing my personal network and finding
people who challenge and better me.
Jeff has 12 years of insurance/insurtech experience
as a founder. He grew in the agency/performance
media space and has founded over five different
startups as an entrepreneur. He is passionate about
networking with like minded people.
AThe introduction of AI is one trend that continues
to affect the entire technology sector. Which big AI
do we partner with? Which do we embed
ourselves with? I think that’s pretty hard to ignore!
I suspect the big industry titans will take the lead on this
one. We still need humans to train AI, and AI will then act
accordingly based on the data it can scrap. The speed to
scale of AI implementation in insurance is very much a
‘wait and see’ game. Also, the talent war is real. Throwing
money at solutions doesn’t always work; if that truly was
the case, much of the spending in the past two decades
would’ve changed the landscape. You still need great
people to execute the vision, and great people are a
jackpot these days. Every sector is pursuing them!
Jeff Shi,
Founder, Insurtech Groups
MODERN INSURANCE | 71

INSURTECH
FINEOS
Chuck, it was so great to catch up with you recently at
the LIMRA Annual Conference!
Q
QWhat are your predictions for 2024, and what are the
technological, economical, and business implications
of these developments?
You have had an extraordinary career so far, with
leadership roles at industry giants such as Oracle and
EIS. You once wrote, “You cannot positively disrupt an
industry you do not understand. You can only destroy it.”
As disruption seems to be part of the daily vernacular in the
insurance industry, can you expand a bit more on what you
mean by this compelling phrase?
Megan, it’s always a pleasure to talk insurance industry
with you!
AAs a leading core insurance platform for LA&H, we are really
interested in the insurtech evolution at FINEOS. Our FINEOS
Platform is a foundational piece of the modern Employee
Benefits ecosystem. That phrase came from talking with
insurtech companies, attending insurtech conferences
(including Insurtech Insights), and listening to pitches. The
insurtech movement is critically important to the insurance
industry because it is an incubator for innovation. It’s hard for
incumbent insurance companies to explore edgy innovations
within their organizations that support the everyday needs
of their customer base. They look to insurtechs to develop
the ‘Next Big Thing’, but insurtechs do need to understand
insurance industry dynamics and regulations.
“The less I know about the industry, the better I am positioned
to disrupt it” is the silliest phrase I have ever heard. The
term ‘disruption’ is used constantly, and it’s usually way off
the mark from what Clayton Christensen proposed around
disruptive innovation in his book, ‘The Innovator’s Dilemma’.
Christensen understood the difference between being bound
by an industry’s common wisdom and being ignorant of the
industry itself. Budding disruptors need to understand the
current industry dynamic and value proposition, as well as
the regulatory guardrails that aren’t subject to free market
disruption. Also, disruption is not always the end game!
Innovation is OK, too.
What top trends are you currently observing in
the industry?
Q
I see insurers’ senior leadership embracing the AI wave
to a greater extent than expected. While I haven’t seen
A many groundbreaking large-scale AI projects among
insurers, I am seeing many smaller scale POCs and production
uses to augment and accelerate existing processes and
decisions. Leveraging the work that the insurance industry
has done over the last couple of decades in relation to getting
our data correct and available, there are many opportunities
to offer valuable AI projects in smaller, faster-to-deploy
packages.
AFOMO in the Generative AI space will begin to settle,
and both Gen AI and predictive AI will find their place
in the insurance organization. Both are valuable in the
proper place within the insurance process, but there’s a lot of
work to be done over the next few years to find the best path
towards maximizing AI risk/reward.
In the Employee Benefits space, there will be a trend towards
an expansion of the ecosystem as a variety of new service
providers, such as mental health and respite care services,
continue to emerge. There will also be a consolidation among
established benefits admin and data transport providers as
their offerings become more defined and industrialized.
QWhat are the most important business imperatives for
both incumbents and insurtechs to focus on in 2024?
Anything keeping you up at night?
AThe biggest challenge I see relates to striking the
balance between innovation and industrialization in
the insurtech world. Generally, most of the premium
written in the insurance industry is held by a small number
of larger insurers, and they are seeking both innovation
and scale. As an incumbent core system vendor, we have
some of the largest carriers in the LA&H space. Therefore,
innovative, industrial-strength solutions are required to meet
their needs. New insurtechs often have the luxury of working
in a greenfield which supports faster experimentation and
development, but may not scale to meet the needs of the
larger insurers.
Chief Marketing Officer Chuck
Johnston is responsible
for the global marketing
team at FINEOS, driving the
corporate brand, product
go-to-market, and in-market
product management for
North America. He is a
recognized expert in applying
new business and technology
concepts to the unique
processes, architecture and
technology of the
insurance industry.
In the LA&H space, there is more focus on health and
wellbeing for the insured. In Employee Benefits, this is
leading to an expansion of what an employee benefit
is, finding new products and services that enhance the
experience of the insured. Education and service offerings
that help people with their life change after the life
insurance check is received, the family leave begins, or the
disability payments start, are becoming a larger part of the
insurance ecosystem.
Chuck Johnston,
Chief Marketing Officer,
FINEOS
72 | MODERN INSURANCE

INSURTECH
PLRB
Q
Bryan, what top trends are you currently observing
across the industry?
A
What kind of ‘top trends’ list wouldn’t include AI?!
Of course, this is a crucial discussion item for
carriers and solution providers today, but how we
define it varies greatly.
For all the hype, I think many are playing the ‘wait and see’
game at the moment. Perhaps they see AI as a threat, driving
scope for fraudulent claims. However, I see the real value lies
in using it to find signals of patterns in behaviors before they
happen, leading us to prescribe responses or actually enact
these scenarios to result in better outcomes. This could mean
better prospecting and risk selection, pricing and coverage
development, risk prevention, claims handling, or even
product development. I just think the industry is a long way
off from embracing AI sufficiently at the moment. Our data
must be of a state where we can really put it to good use
before a genuine, disruptive step-change will occur.
In terms of underwriting profitability, I’m also seeing plenty
of industry players using blunt instruments, like pulling
out of lines or states (sometimes mixes of the two), or
dramatically increasing rates (though often not sufficiently
due to regulatory constraints or otherwise). This is fine in the
immediate term. However, I’m hoping to see the industry do
more to explore ways of making markets viable to compete
in, something I’m not seeing currently. The truth is, we cannot
simply offer the same coverage and economic models; the
dynamics have changed too much for them to be viable.
Many lines of business are facing a cliff edge, where carriers
cannot afford to offer coverage at rates insureds can afford
to buy. We need to rethink the products themselves, as well
as what coverage actually means and how we deliver it.
To that end, I’m very curious about things like parametric
products, carving out the ‘uninsurable’ parts of legacy
products in order to create something that is affordable to
offer and purchase.
I’ve talked to other leading minds in the industry, and they
are also worried that we aren’t waking up fast enough to the
fundamental shifts going on, and the profound moves we
need to make within the insurance industry in order to stay
relevant.
Q
And finally, what’s next for Bryan in 2024?
AI’m very excited for changes coming from PLRB,
starting with launching our new website. It’s a
complete overhaul of the technology we use to
deliver support to our carrier members, as they are the ones
responsible for delivering the coverage that people depend
on. This will be a huge unlock for us, one that will open the
door to some very cool and exciting developments in what
PLRB can do to help the insurance industry precisely at this
moment of fundamental change.
Bryan Falchuk is the President & CEO of insurance
industry trade group, PLRB - a dedicated resource for
insurers and their partners in the delivery of coverage
in Property and Liability lines.
He has lead growth for an insurtech, served as Chief
Claims Officer and COO for insurers, and consulted at
McKinsey & Company. Bryan is the author of the
best-selling book series, The Future of Insurance, and
hosts a podcast of the same name.
QWhat are your predictions for 2024, and what are the
technological, economical, and business implications
of these developments?
AMy basic view of 2024 is that it will be the year of the
blunt instruments I mentioned above, while the more
interesting solutions will start to receive attention as
carriers look for long-term, strategic answers to fundamental
industry challenges.
QIs there anything keeping you up at night?
AI fear that insurers may not be waking up to the
fundamental shift that has already occurred around
the core economics of the products we’ve been
offering. They are still trying to fine tune them when they’re
increasingly not fit for purpose.
Bryan Falchuk,
President & CEO, PLRB
MODERN INSURANCE | 73

INSURTECH
Alchemy Crew
QSabine, it’s so great to catch up with you, our
Insurtech Queen! You have been writing prolifically
on AI this past year. One of your insights posted
recently really resonated: “Embracing AI isn’t just about
keeping up with the times. It’s about pioneering new paths
in the insurance industry.” Can you expand a little more on
what those new paths could look like?
AIn the insurance industry, AI is moving from a novel
experiment to a core operational element, marking
the beginning of an era of transformation. As we
celebrate significant milestones like the first anniversary of
OpenAI’s ChatGPT, it’s clear that AI is reshaping the industry
landscape.
The pioneering journey with AI involves radically rethinking
business models and embracing innovative technologies
for enhanced efficiency and capabilities. This evolution is
evident in AI adoption. The industry’s proactive approach to
AI integration highlights the transition from mere adaptation
to setting new industry benchmarks. AI’s potential extends
from streamlining claims processing to enabling proactive
risk assessment, prompting insurers and insurtechs to revamp
traditional methods.
As we approach 2024, the industry will focus on key business
imperatives such as staying technologically ahead, proactively
addressing societal and economic implications, and integrating
change management into digital transformation strategies.
QWhat top trends are you currently observing in
the industry?
AIncreased AI Integration. A significant surge in AI
adoption, especially in large firms, indicates a trend
towards a more AI-integrated insurance industry in
2024. In recent months, I have seen some fascinating work
delivered by teams at IBM and Google that shows the power
of well-defined foundation models and governance structures.
Enhanced Efficiency and Automation. AI revolutionizes
risk assessment, underwriting service operations and claims
processing, offering rapid management and decision-making
capabilities. Think about the live Virtual Assistant personalized
for one single customer.
This will include advanced analytics for personalized
services, significantly boosting the efficiency of underwriting
and claims processing, as well as customizing customer
experiences.
Ethical Considerations and Societal Impact. AI’s growth
brings ethical challenges to light. The industry will focus
on transparent, bias-free AI practices, shaping societal
perspectives on ethical technology use.
Economic Evolution and Business Adaptation. The insurance
industry’s economic and business dynamics will shift towards
adaptable AI-driven models, merging traditional methods with
innovative tech to forge new revenue avenues. This evolution
will see increased collaboration between insurtechs and
traditional insurers, focusing on generative AI for inventive
solutions and enhanced risk management strategies.
QWhat are the most important business imperatives
to focus on in 2024, for both incumbents and
insurtechs? Is there anything keeping you up at night?
ANew AI technologies help us to witness a
transformative era where the insurance industry must
navigate a maze of innovation and regulation. As we
address these imperatives, it’s pivotal to prioritize robust
strategies for incumbents and insurance technology providers.
Critical Strategies for Incumbents.
For incumbents, 2024 is a call to action for digital
transformation, with a strategic imperative to integrate AI and
analytics in order to enhance performance. They must focus
on upgrading legacy systems for digital service delivery, as
well as harnessing AI for streamlined underwriting and claims.
Adherence to regulatory standards and ethical AI principles
is crucial, aiming to re-engineer business models for market
resilience.
Priority Focus for Insurtechs and Technology Providers.
Insurtechs should capitalize on their agility in 2024, crafting
innovative solutions to fill market voids and improve
customer engagement - particularly in commercial, life
and auto insurance sectors. They must seek partnerships
with traditional insurers, offering scalable tech solutions.
Proactively investing in AI and Machine Learning is vital to
boost operational efficiency and establish long-term value.
Advancements in Risk Assessment and Pricing. AI’s ability to
analyze vast data sets leads to more accurate risk profiling and
personalized pricing strategies. Again, it’s all about getting that
dynamic, personalized response to each customer’s demand
and need in real time.
QWhat are your predictions for 2024, and what are the
technological, economical, and business implications of
these developments?
AFor 2024, the insurance industry is poised for a
transformative shift, primarily driven by AI and
Machine Learning advancements. This evolution is not
just technological; it will likely reshape societal interactions,
economic models, and business strategies.
Technological Integration in Insurance. In 2024, AI and
Machine Learning will notably enhance the insurance sector.
Sabine is the CEO and
Managing Partner of
Alchemy Crew, a venture
lab using open innovation,
parallel experimentation
techniques, and ecosystem
thinking to accelerate the
curation, validation, and
commercialization of new
tech business models. She has
over 25 years of experience in
insurance and was appointed
as an Honorary Senior Visiting
Fellow of The Bayes Business
School (formerly Cass) in early
December 2020.
Sabine VanderLinden,
CEO, Alchemy Crew
74 | MODERN INSURANCE

INSURTECH
Roloff Consulting
Q
Ema, it’s so great to catch up! You are one of my
favorite influencers to follow on social media
because you expertly use platforms such as LinkedIn
and TikTok to get your messages across in a way that is
educational, entertaining, and engaging! And now, with
your new strategic consultancy, Roloff Consulting, you are
teaching others how to do the same.
In your experience, then, what top trends are you currently
observing in the industry?
I am keeping a close eye on Total Experience (TX)
and the Internet of Behavior (IoB). TX focuses on
A interlinking customer and employee experience by
actually breaking down silos and treating all experiences as
interconnected and interdependent. This type of strategy
helps to build trust and brand consistency, as well as
increasing revenue.
If the Internet of Things (IoT) met the study of human
behavior, fell in love and had a baby it would form the IoB.
With advancements in AI, Machine Learning (ML), and
predictive analytics, IoB will provide us with even more
personalized and targeted experiences.
QWhat are your predictions for 2024, and what are the
technological, economical, and business implications
of these developments?
A2024 will be a year of foundational work needed to
operationalize AI. It’s not flashy, but it’s important!
The hype from ChatGPT and the Generative AI craze
is fading a bit, and it is time for insurers, insurtechs and
regulators to start digging deep into ethics, governance, and
implementations that go beyond initial pilots.
QWhat are the most important business imperatives
to focus on in 2024, for both incumbents and
insurtechs? Is there anything keeping you up at night?
improve the adversarial dynamic with policyholders, we will
need to get creative with how and where we tell our stories
in an authentic light. This will allow others to see the true
value of our industry.
Q
And finally, what’s next for Ema in 2024?
AIn 2024, you will find me doing more of my
favorite things! I will be focused on helping Roloff
Consulting’s clients unlock the value of digital sales
strategies with our hands-on consulting and the newly
created Catalyst Community, ‘Leading Change’ through
my weekly newsletter and interview series, and grabbing
a microphone to share my thoughts through keynote
Speeches and panel discussions.
Ema is a passionate educator and digital transformation
expert with a unique background in teaching, and over
a decade of experience guiding companies through
their digital evolution. She is the Co-Founder of Roloff
Consulting and the Host of Leading Change. Ema has
received prestigious awards and accolades, including
the RISE 35 under 35 Award and recognition as an
Industry Influencer by InsurTech Hartford.
Ema’s diverse experience spans various industries,
enabling her to identify patterns and facilitate insightful
discussions that transcend industry boundaries. With
over 300 expert interviews conducted in Digital
Transformation and Innovation, Ema is a trusted voice in
the field.
AThe insurance industry’s external reputation is what
keeps me up at night. Horror stories broadcast on
the nightly news, decades of complexity and financial
stress are creating a growth in the distrust of our industry.
When you step away from the bubble of conferences and
events and move beyond the relatively civil discourse of
LinkedIn, comments made on other platforms such as
Facebook, YouTube or TikTok do not paint the industry in a
good light.
It’s time to work on sharing the ‘why’ behind the industry, and
reiterate the impact that insurance has on the communities
we live in. We need to lean into education to help us improve
the perception of our work. As we educate our customers on
the risk they are taking, how to ensure their assets are covered
and deep dive into how our industry works, we will naturally
improve our image. People don’t trust what they don’t
understand, and new talent isn’t going to seek out an industry
they don’t trust or understand, either.
If we want to improve the perception of our industry, bring
more talent into the roles we desperately need to fill, and
Ema Roloff,
Co-Founder, Roloff Consulting
MODERN INSURANCE | 75

INSURTECH
Google Cloud
QNigel, it’s been wonderful connecting with you
recently. I want to express my gratitude for your
unwavering support in promoting gender equality
across our industry. I recently spoke on a podcast about
your refusal to participate in all-male panels, and it truly sets
a precedent for others to follow.
Your advocacy has motivated me to ensure that all voices
are heard on the platforms I influence. How have you seen
things evolve in this regard over the past decade, and what
steps do you think we still need to take moving forward?
AMegan, it’s always a pleasure! You bring so much
passion and energy to this industry, bringing people
together which I just adore. We need more Megans
to promote how cool and fun a place this is, and to create
forums and events for us to meet and thrive. My thanks to
you!
For the last few years, we’ve done a really good job of raising
the issue of Diversity and Inclusion in insurance. We have got
better, and it’s constantly improving, but we can always do
more.
I’m very fortunate to be regularly invited to podcasts, panels,
events, interviews, keynotes, and much more. But promoting
and talking about DEI is one thing. Taking action is another,
and I’d rather lead by example. I would often look around
and see men, so for the last few years, asking who else is
on the panel has become one of my default questions. If I’m
about to be one of several men, not only do I decline, but I
also do my best to offer up a female colleague or industry
peer to ensure that all voices are heard. It’s a tiny, small act
that will have a material impact. I want my kids to grow up in
a world where the opportunities are equal for both my son
and daughter. It’s on us to be aware and to help enable the
change.
QWhat top trends are you currently observing in the
industry?
AFrom a technology perspective, the explosion of
Generative AI and our industry’s curiosity of it is an
obvious place to start. Given its ubiquitous nature
and broad understanding, there is a top-down drive to
understand it, as well as a genuine curiosity for the first
time in a long time. Couple that with so many use cases
that have emerged over the last six months alone, and now
active POC’s, combined with our platform approach and
other capabilities for documents (DocAI) and Contact Center
(CCAI). I feel that people are aware of some really quick
wins now and testing them out, but we are also at the tip of
the iceberg! 2024 will be really exciting to see how GenAI in
Insurance evolves at pace!
Over the last 12-18 months, the shift for most folks has moved
to cost optimization. With the advent of the above, it couldn’t
have arrived at a better time for the industry. Insurers and
insurtechs are driving significant cost savings from every
facet of their organization, and using technology to do
more. It’s long overdue; many parts of our industry are
unnecessarily complex and have not kept up with the mass
changes afforded by today’s technology capability, including
the move to Cloud and AI.
Finally, the climate crisis has caused insurers to rethink their
ability to operate profitability in certain states and countries
around the world. Again, a great place where collaborating
with technology companies and startups is proving to be
fruitful, combining insights from third party data sources,
sensors and more to unlock new opportunities and business
models for carriers and brokers alike.
QWhat are your predictions for 2024, and what
are the technological, economical, and business
implications of these developments?
A2024 is not going to be any easier, which just
means our focus and energy has to be critical for
incumbents and insurtech.
From an insurtech perspective, let’s break it down broadly
into B2C and B2B. On the B2B side, I firmly believe that huge
opportunities remain as we continue to collaborate with
incumbents to help drive change at pace. But how do we do
this at scale? It has a good opportunity to succeed now, as
it’s combined with the shift from central innovation teams to
Line of Business innovation, which houses responsibility and
accountability for change.
From a carrier perspective, the cost out drive above
will carry on as carriers continue to drive rate into the
market. This will no doubt be met with challenge and
resistance from customers, not helped by some folks
reducing capacity in certain lines. Driving profitability here
through better underwriting, leveraging new technology and
data sources will be the primary focus, whilst in contrast,
balancing customer and agent NPS through the use of new
capability.
Nigel is the Managing Director for Insurance at Google
Cloud, responsible for leading the company’s approach
to Insurance. Nigel helps companies in the insurance
ecosystem leverage the best-in-market capabilities
from Google Cloud to address mission critical insurance
challenges, from
claims and
underwriting through
to using its GenAI
and ML know-how to
drive better business
outcomes.
Prior to this, Nigel
was a Partner in
Deloitte, where he led
on a number of areas
for the firm including
the Global Future of
Insurance and Global
InsurTech.
Nigel Walsh,
Managing Director – Insurance,
Google Cloud
76 | MODERN INSURANCE

INSURTECH
Adrian
Jones
Adrian Jones is an investor
and advisor in the insurance
sector. Most recently, he
was a partner and cohead
of HSCM Ventures.
Previously, he was Deputy
CEO of P&C Partners at Scor,
and Head of Strategy at
RenaissanceRe. He is (or has
been) an investor or Director
of several technologydriven
companies in the
insurance sector, including
MGAs, carriers, and software
companies. He is a graduate
of Wharton and Columbia.
Adrian Jones,
Insurance Investor and Advisor
Adrian, what top trends are you currently observing in
the industry?
Q
As an investor in the sector, I’m seeing no slowdown
in the interest around insurance innovation, despite
A gloomy headlines. Based on 3Q numbers from FT
Partners, insurance companies are on track to participate in
more than 100 insurtech financings this year, up from just 16
back in 2014. Insurers are also quietly scouting the market for
keenly-priced acquisitions. A couple of notable insurers have
quietly shuttered their VC or innovation units in 2023, but
then Generali announced a €250mn commitment to insurance
VC. This looks to be more than the shut-down units ever
deployed. With Generali, 9 of the 10 largest European insurers
now have a meaningful commitment to insurance innovation,
as have most of the big US carriers.
Growth equity investors, who typically invest $50-500 million,
are also closely watching the sector, particularly looking
for break-out stars among young companies. While some
investors have sworn off carriers and MGAs, others are keen
on new businesses that underwrite. The MGA space has
been highly competitive, with financial investors, carriers,
wholesalers, and so-called ‘MGA platforms’ all looking for
MGAs with solid underwriting.
We face a much more hopeful message than we did a
year ago. However, I learned the insurance business from
underwriters, so as soon as I say something positive, I also
have to talk about what could go wrong!
Many of the young MGAs are dependent on a fronting sector
that looks shaky in places. According to one recent headline,
one third of the US fronting market is made up of companies
that are for sale. 2023 saw multiple alleged fraud scandals
in the MGA and fronting sector. The property reinsurance
markets appear to be stabilizing, heading into the 1/1 renewal,
but casualty appears to be in for more reserving challenges.
This could impact start-ups that depend on reinsurance
capacity. Life and annuity insurers are grappling with the
implications of higher interest rates, and the history of MGAs
is one of the excesses leading to painful losses.
Overall, the market is ending the year in a much better
position than the start. I speak mainly of carriers, MGAs and
distributors because they have absorbed most of the ~$50bn
of venture capital to enter insurance since 2015.
Q
What are your predictions for 2024, and what
are the technological, economical, and business
implications of these developments?
We are now three years past the peak of insurtech
public market valuations. The naysayers all got their
A ‘victory lap’, yet the momentum for more innovation
in the sector is evident. I measure this as three ingredients:
people, capital, and tech.
Regarding people, by my estimate, there are over 103,000
people working at insurtech startups, a number that hasn’t
reduced even though at least 40% of startups have had
layoffs. Capital continues to back new innovators, and market
pricing is high for nearly all lines of insurance. In tech, we
are also seeing a monumental shift in computing. It’s not
just generative AI; the basics of computing are undergoing
a massive shift as GPU-based accelerated computing
grows. The insurance implications are only just beginning to
be understood.
I’ve been predicting more M&A for a long time, and I’ve been
wrong thus far but I’ll repeat it again. The bid/ask spread
appears to be closing as founders, investors and buyers settle
in to a new normal on valuations. It may be hard to know how
much true M&A is happening, since many failures are cleverly
dressed up as successful exits.
The table is set for 2024 to be great year for insurance
innovation, at least among the firms that have viable business
models.
QFinally, what are the most important business
imperatives to focus on in 2024, for both
incumbents and insurtechs? Is there anything
keeping you up at night?
AAgencies will continue to focus on integrating their
operations - a theme I discussed heavily in 2022, which
appears to be accelerating across the industry.
For MGAs, they spend their days worried about capacity,
which means being better than average underwriters. They
spend their nights praying that God limits storms,
earthquakes, plagues, and enterprising trial lawyers…
Carriers are retooling operations for an inflationary
environment, including meaningful layoffs, tightening
underwriting rules, and cutting carrier commissions. Some
lines (like personal auto) are showing signs of recovery, while
others, particularly in casualty, are still in retrenchment.
A more stable operating environment would also benefit
the many great companies selling software, data, and
tech-enabled services into the insurance sector. Some have
struggled ever since COVID, as carriers’ attention darts from
one problem to the next.
MODERN INSURANCE | 77

INSURTECH
Nassau Re
Q
Paul, it was so great to see you at LIMRA recently and
attend your panel around ‘Harnessing the Power of AI’.
You said something so interesting; “My DevOps guys
said it best today. Imagine we all learned Spanish fluently
six months ago, and now the majority of the language has
changed.’’
Can you expand a bit more on that for our readers?
A
It’s tough for anyone to call themselves an expert for
very long in this space. LLMs, development frameworks
and platforms are emerging at an incredibly rapid
rate. For example, even the underlying syntax and prompt
templates are evolving on a monthly basis. Staying up to
date with changes is probably the biggest challenge that any
serious AI leader or developer faces right now.
What top trends are you currently observing in
the industry?
Q
A
In the insurance space, I’m not sure any other trend
comes close to the impact of AI. It may take time for
applications to actually enter production, but when
they do, they will change the fundamental process and
economics of the business.
QWhat are your predictions for 2024, and what are the
technological, economical, and business implications
of these developments?
AThe introduction of AI into insurance carriers will prove
transformative for almost every area. Every leader in
marketing, operation technology, legal, compliance and
risk management will end up taking a crash course on LLMs,
Machine Learning, cloud computing and related regulatory
concerns.
QWhat are the most important business imperatives
to focus on in 2024, for both incumbents and
insurtechs? Is there anything keeping you up at night?
AThe biggest imperatives should be focused around
creating a better experience for agents, policyholders
and employees, and it should be conducted in a way
that either increases speed, reduces costs, or improves the
nature of our products.
QAnd finally, what’s next for Paul in 2024?
AMy goal is to help lay a solid foundation for future
AI-related innovation for our company, and the
Greater Hartford insurance community overall.
Paul Tyler serves as Chief Marketing Officer for Nassau,
where he leads the Marketing and Innovation strategy.
Paul drives the branding of the insurance companies
and the affiliated asset management companies. He
built an affiliate sales channel for Nassau Financial
Group. In addition, he launched Nassau Re/Imagine, an
Insurtech-focused incubator based in Hartford.
Prior to his role at Nassau Financial Group, he worked
at Fidelity & Guaranty Life and MetLife in a variety
of roles around strategy, marketing, operations,
technology, sales, and compliance. He earned his A.B.
from Princeton University and his J.D. from Cornell Law
School.
Paul Tyler,
Chief Marketing Officer (CMO), Nassau Re
78 | MODERN INSURANCE

INSURTECH
EDITORIAL
BOARD
WELCOME to the Insur.Tech.Talk
Editorial Board.
Modern Insurance Magazine is delighted to bring our board of insurtech experts together in
this first edition of 2024, showcasing the very best thought leadership insights from the heart
of the insurtech marketplace.
This issue voices the thoughts of...
Scott Holmes,
Sales Director UK&I,
Quantee
Pavel Gertsberg,
CEO and Co-Founder,
Fluffy
Denise Garth,
Chief Strategy Officer,
Majesco
Christelle Frost
Chief of People, Genasys
Technologies
Tim Hardcastle,
CEO and Co-Founder,
INSTANDA
MODERN INSURANCE | 79

INSURTECH
Is Pet Insurance the
‘New Kid on the
Block’?
The UK has seen fantastic growth and development in the Pet
Insurance sector over the last few years. Particularly since the start
of lockdown, the market has taken on huge volumes of new policies
in this ‘new normal’, where more consumers than ever before have
chosen to enter the world of pet ownership. We are seeing more
competition, more innovation, and more new entrants to the market
as a result of this expansion, leaving Pet insurance at the top as one
of our key Insurance markets.
Scott Holmes,
Sales Director UK&I, Quantee
Pavel Gertsberg,
CEO and Co-Founder, Fluffy
To explore this further, I spoke with Pavel Gertsberg,
CEO and Co-Founder of Fluffy - a new entrant to the Pet
insurance market here in the UK.
Pavel, how has Fluffy changed the landscape in
Pet insurance?
Q
A
The transformation in Pet Insurance goes beyond
the surface, addressing fundamental shifts in
customer demographics and behaviours. Where
previous generations typically acquired pets after having
a couple of children, today’s pet owners view their furry
friends as starter children, often lacking the experience of
seasoned pet parents. This shift has resulted in a surge of
avoidable claims.
Fluffy’s mission is to support owners in navigating all
aspects of pet care, transforming them into informed
and responsible caregivers. Rather than focusing solely
on insurance, our aim is to enhance the overall pet
ownership experience.
Q
A
The Pet Insurance market seems to have exploded
in recent years, with much higher volume and
increased competition. Therefore, it must be really
important to get the pricing right?
The Pet insurance market has witnessed significant
growth, marked by increased volume and intensified
competition. The importance of accurate pricing
cannot be overstated. While some pet insurance founders
may claim that price is irrelevant, our data reveals that the
majority of pet owners are indeed price-sensitive. Achieving
the right balance in pricing is paramount, and we are
fortunate to have partners like Quantee assisting us on this
crucial journey. Omnichannel conversational AI solutions
meet the customer where they are, with proactive claim
status updates and maximum ease to get their questions
answered quickly.
There seems to be huge value in Fluffy’s
proposition, particularly through its embedded
Qservices. What was the driver for Fluffy to build the
product this way?
A
I often emphasise that people don’t wake up thinking
about insurance; rather, they yearn for their loved
ones, including their pets, to be healthy and happy.
Our mission is straightforward – ensuring the well-being of
your pets. When you view insurance in the broader context
of promoting health and happiness, it results in improved
unit economics. This alignment of interests between
the insurance company, striving for a healthier portfolio,
and pet owners, desiring healthier pets, forms the core
philosophy behind Fluffy’s unique approach.
MODERN INSURANCE | 81

INSURTECH
The “New Kids
on the Block”
What’s Old is New Again
Denise Garth,
Chief Strategy Officer, Majesco
Insurance faces headwinds today and into 2024, driven by heightened volatility in financial
markets, inflation, rising customer demands, rapidly changing technology, and increased risk.
Navigating this uncertainty is not for the faint of heart. It demands agility to remain financially
strong, relevant, and competitive in this fast-changing landscape.
Shifting insurance pressures mean shifting insurer priorities.
Our recent Strategic Priorities research found that 2024’s
top-of-mind issues are in flux. Within the top 12, seven issues
from 2023 still remain: profitability, operational costs, cyber
risk, growth, technology advancements, economic issues,
and talent. New challenges have also surged into the top
12 — rising reinsurance costs, regulatory changes, access to
reinsurance capital, legacy technology, and shifting customer
expectations.
Responding to these issues, insurers are making a significant
shift in strategic priorities for 2024. Within the top 12, five
new insurer priorities emerged and seven shifted in rank. The
priorities rising to the top include new products and services,
underwriting transformation, pricing & rating transformation,
policy, billing & claims transformation, expanding use of data
& analytics, risk prevention, loss control transformation, as
well as agent & customer experience.
Within these priorities is the focus on core business and
technology transformation. The impact of legacy technology
is coming home to roost, both in terms of increasing
operational costs and lost market opportunities due to lack
of speed to market for new or updated products and rates.
Insurers are anxious for operational stability and relief.
While most insurers have been on a continual quest
to optimize the business, their efforts have often been
incremental and with short-term impact. Many replaced
their core systems over the last 10 years as part of a
transformation strategy, but most were on-premise with
significant customization. This resulted in upgrade challenges,
increased costs, limited digital capabilities, difficulty in
launching new products, and lackluster user experiences for
employees, agents, and customers. Increasing retirements
and loss of institutional knowledge and skills, coupled with a
new generation of employees who will not work with legacy
technology, is making legacy debt a significant operational
risk.
It’s time for real investment in the future.
Insurers must aggressively transform their operating model
and technology foundation to be cost-effective and agile,
meeting the demands of buyers and employees today
as well as into the next generation. They must reevaluate
costs, looking to move from fixed to variable. They must
accelerate adoption of Next Gen cloud insurance technology
and advanced analytics, including generative AI, to drive
optimization and innovation.
Carriers slow to address challenges - or those who do not
have the means, expertise, or technological capabilities
to keep pace with market, customer, risk, and operational
changes - will increasingly face financial and ratings pressure,
something we are seeing with increased downgrades. This is
where the AM Best Innovation Rating becomes increasingly
important. Insurers must scrutinize their technology partners’
financial strength and profitability to ensure R&D investment
for continuous innovation. This will keep insurers at the
forefront of change, rather than at its mercy.
MODERN INSURANCE | 83

INSURTECH
Supporting Future
Superstars
If our industry is serious about supporting the next generation of
‘superstar’ leaders and thinkers, then it requires a proactive, creative
and tenacious approach. This means moving away from reliance on
a talent pipeline comprising young people with existing industry
connections, or those who move into this space accidentally.
Instead, we have a collective responsibility to democratise access
to our professional world and provide high-quality support to
encourage retention.
Christelle Frost,
Chief of People, Genasys Technologies
As you’d expect, Next Gen team members are tech savvy,
with an appreciation for technological innovation. They
tend to be driven by flexibility, balance and development.
They thrive in collaborative environments where there’s
seamless communication, with ongoing feedback and
recognition. With this insight, businesses can nurture their
next generation of talent while shaping their workforce to
support commercial and industry aspirations.
Think outside the box
Finding Next Gen talent requires businesses to think
differently, adopting traditional and non-traditional methods.
At Genasys, we look for ‘superstars’ from all backgrounds
and levels of experience, supporting our mission to challenge
the status quo of legacy insurance technology.
We make a point of understanding where emerging Next
Gen talent is, and we show up. Graduate fairs and social
media channels are rewarding forums to raise awareness
of insurance and insurtech careers. To really make a
difference though, we’ve implemented a range of entrylevel
programmes to attract Next Gen talent from diverse
backgrounds.
Think ‘smart’ hybrid
To nurture Next Gen talent, there’s a responsibility to provide
a working environment where long-term success is possible.
Hybrid work models create the opportunity for flexible
working arrangements while ensuring there’s opportunity for
collaboration, mentoring, and learning. This balance between
virtual and in-real-life interaction is a key driver for Next Gen
colleagues, but think smart about how you ensure hybrid
works positively for the business.
At Genasys, we know our people value face-to-face
interaction. By re-imagining our workplace practice, where
‘office-based’ days are more like ‘team days’ in which
problem-solving and discussion are actively encouraged,
we’ve created a structure so everyone’s time in the office has
the greatest impact.
Think ambition
Next Gen talent is hungry to learn and develop. To best
support younger colleagues, it’s essential to think about how
your training and development programmes take a multifaceted
approach.
Consider building in group sessions, individual learning
via peer programming, buddy systems, online interactive
modules and webinar-based training, all complemented
by access to online learning platforms as well as external,
formal training solutions. Mentoring provides incredible value
too; the opportunity to learn from talented, experienced
colleagues is hugely beneficial.
The future of insurance
There’s a temptation for industry businesses to hide behind
their tech, thinking there’s no need to focus on talent. That’s
not our style at Genasys. Our greatest strengths are our
platform and our people.
Our industry-wide Next Gen colleagues are fundamental
to the insurance revolution. Our ‘superstars’ are playing an
integral role in transforming the future of insurance, working
to re-define the user experience and, as a result, helping to
positively change the consumer perception of insurance.
MODERN INSURANCE | 85

INSURTECH
Quickfire
Questions with
Tim Hardcastle
Q
A
Tim, how are you nurturing Next Gen talent
within your business to guide and influence the
workforce of the future?
This year, we took a significant step by launching
a comprehensive Leadership Programme. This
initiative is designed to identify, develop, and
nurture emerging talent within our organisation. We
recognise that our future leaders are already among us,
and it’s our duty to help them thrive.
Our Leadership Programme offers a structured pathway
for individuals who aspire to take the next step in their
careers. We provide them with the tools, knowledge, and
experiences needed to lead in our dynamic industry. To
further strengthen this initiative, we’ve also engaged our
current leaders across the business to act as mentors
and coaches. This provides guidance, and builds strong,
lasting relationships that empower our future leaders
to excel. At INSTANDA, we understand that investing in
Next Gen talent is an investment in the future.
By offering this Leadership Programme and the support
of our seasoned leaders, we are shaping a workforce
that will drive innovation, adapt to change, and lead our
business into the future. We are dedicated to providing
opportunities for our employees to grow, ensuring that
our organisation remains at the forefront of the everevolving
technology landscape.
Tim Hardcastle,
CEO and Co-Founder at INSTANDA
What opportunities exist for entry level graduates
and apprentices within your business?
Q
We prioritise talent over formal qualifications and
recognise the value of diversity in experience.
AWhile we do not have a traditional graduate or
apprentice scheme due to our scale, we consistently look
for outstanding talent and attitude in our acquisition of
employees. Hence, we have recruited a number of people
who join INSTANDA as their first or second role posteducation,
emphasising approaches to practical mentoring
on the back of this, with proven success throughout our
organisation.
Our approach to mentoring and development is about
providing practical, on-the-job learning experiences
that empower Next Gen talent to excel in our business,
regardless of their academic backgrounds. We believe that
by focusing on talent, we can harness the true potential
of our workforce and drive innovation in our industry.
Doing things differently is at the heart of INSTANDA, and
by creating a firm where diversity of thought is embraced
and can flourish, we believe this will fuel our long-term
aspirations. There is no space for ‘group-think’ in our firm!
Our mentoring opportunities are rooted in real-world
experience and focused on developing the skills needed
to excel in our dynamic industry. In practice, this takes the
form of leaders as mentors, cross functional exposure, and
skills-based training.
86 | MODERN INSURANCE

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