The Voice of Insurance Ep 39 Slaying the myths of Legacy with Tom Booth of Darag
Today’s episode is all about legacy. Legacy used to be called run-off and run-off conjured up slightly negative connotations of difficult old greyhairs in dusty out of the way offices eking out a dwindling pot of claims until retirement.
I used to think that its keenness to rename itself was a sign that it wanted to rehabilitate itself in some way and that the change was merely cosmetic or aesthetic.
But over the years it has become obvious that the words run-off had themselves to be put into run-off.
This is because legacy has developed into a sophisticated capital management tool and is far more about adding value and operational efficiency than the handling of intractable old claims.
Today’s guest is the embodiment of that leap in sophistication over the past two decades.
Tom Booth is the CEO of Darag, a legacy player with access to capital and global growth ambitions.
His background is high finance and I think it really shows through in this encounter.
Legacy is becoming a very useful long-term partner of the industry and people like Tom are only going to make it more relevant in the future.
We slay a lot of myths in this episode, so stay tuned.
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We thank Claims Direct Access (CDA) for their support today.
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