The Voice of Insurance

David Flandro, Head of Industry Analysis and Strategic Advisory at Howden Re, provides a deep dive into the reinsurance market's renewal trends. He discusses significant price fluctuations, driven by rising supply and geopolitical factors. The conversation highlights how catastrophic events affect the industry's landscape, and proactive broker strategies amid storms. Flandro also emphasizes the impact of innovative financial products and insurance-linked securities, showcasing the evolving dynamics of risk management and pricing in today's market.

Today’s guest is a rare breed of broker looking to build a sophisticated new intermediary operating at the higher end of the market. In the past two years the business he leads has gone from a standing start to handling around $1.6bn in premiums. Andrew Matson and Augment Risk have done this by being very targeted and very progressive, breaking insurance and reinsurance down to its core element – capital. At a fundamental level insurance is a tool for capital protection and capital management. If designed and executed well this is a tool that produces better outcomes for clients and these benefits are ultimately measurable in improved return on equity. Of course, what I have just described is about as far removed from the traditional broker model as it is possible to be. This model might not be for everyone, but that is beside the point. Augment is already demonstrating that there is an eager community of sophisticated global buyers keen to discover what a holistic client- and capital-focused broker might be able to do for them. And that’s what makes this encounter so interesting. Andrew has a singular vision for what he wants to achieve and after this podcast you’ll be in on the act too. But we don’t just talk about Augment’s plans: legacy, parametric insurance, the future of insurance securitisation and the long-term effects of the digitisation of the insurance value chain are all examined in depth. Andrew is ultra-smart and highly passionate and his ambition sears through this episode. For anyone disillusioned with siloed, product-focused and constrained broking, here is someone with a genuinely attractive and genuinely original proposition to put to you. LINKS: We thank our naming sponsor AdvantageGo: https://www.advantagego.com We also thank audio advertiser, The Insurance Network (TIN), organiser of the highly-successful TINtech events series. This week they are advertising their successful TINtech London Market event, which will be happening on 4th February 2025.

Graham Elliott, CEO of Crux Underwriting and former stockbroker, dives into the revolutionary intersection of technology and insurance. He discusses the rise of MGAs and how AI is reshaping underwriting processes for efficiency. Elliott highlights the strategic management of political risks and the importance of real-time data. The conversation also covers the evolving dynamics of insurance partnerships, data challenges, and the entrepreneurial spirit crucial for innovation in the industry.

Dieter Winkel, President of Liberty Mutual Re, brings four decades of reinsurance experience to the conversation. He shares insights on approaching the pivotal 1.1 renewal season, examining current market trends and the rise of cyber insurance. Dieter discusses the importance of risk assessment, especially in relation to natural disasters, and highlights the evolving role of parametric insurance. The podcast also touches on the transformative impact of AI in streamlining submissions and enhancing risk management in a rapidly changing landscape.

David Howden, Founder and CEO of Howden Group, reflects on his entrepreneurial journey in the insurance industry. He shares the transformation of Howden from humble beginnings to a global operator, while walking through London's historic insurance district. Topics include the challenges of the past, changes in the market post-2008, and the pivotal role of Managing General Agents in fostering innovation. Howden also discusses sustainability efforts and community engagement, emphasizing meaningful practices that attract diverse talent.

Aidan O'Neill, CEO of DOCOsoft, and Ian Summers, Global Business Leader at AdvantageGo, delve into the transformative power of technology in the London insurance market. They discuss the shift towards automated claims management and the integration of AI, emphasizing enhanced client service and productivity. Both leaders reflect on their long-standing collaboration and the evolving dynamics of the industry, showcasing an optimistic view of future innovations and the benefits of a cohesive ecosystem.

Summary This podcast features an interview with Dawn Miller, Lloyd's Chief Commercial Officer and CEO of Lloyd's Americas. Miller discusses her career, her dual roles at Lloyd's, and her strategies for modernising the market's image and operations. She highlights initiatives to improve transparency, streamline processes, and attract new business. --------- The oldest showbiz adage of them all is to always leave them wanting more and this week’s episode does exactly that That’s because it is a very short, sharp blast of energy from start to finish. Dawn Miller is Lloyd’s Chief Commercial Officer and has just taken over as its Americas CEO. Not many people have the energy to take on two huge roles, but it’s clear after this meeting that Dawn isn’t like many people. Half an hour with Dawn is worth at least an hour with someone else. So hang on as Dawn defines the essence of what her Lloyd’s roles are and she tells us her goals and strategies for presenting the best side of the marketplace to the world today. I think Dawn is the culture change at Lloyd’s of the last few years personified. Listening to someone as pro-active, positive and passionate as her, you already know the market has become the polar opposite of the venerable but slight stuffy institution it might once have been. Indeed Dawn explains that probably her biggest job is debunking all the accumulated myths and baggage that have arisen around the perceived complexity, time and expense of dealing with Lloyd’s over its long history. This one packs a huge amount into a relatively small space. You won’t have time to catch your breath. LINKS: We thank our naming sponsor AdvantageGo: https://www.advantagego.com We also thank audio advertiser, The Insurance Network (TIN), organiser of the highly-successful TINtech events series. This week they are advertising their successful TINtech London Market event, which will be happening on 4th February 2025.

Join Nick Line, Chief Underwriting Officer at Markel International, as he reflects on his dynamic insurance career from actuary to leader. He shares insights into the evolving London insurance market and the vital role of technology in underwriting. Nick emphasizes the importance of adaptability amid market fluctuations and explores new growth opportunities in climate risk and sustainable energy. The conversation also touches on the rise of cyber insurance and the need for underwriters to embrace a collaborative, client-focused approach.

In this insightful discussion, Emma Watkins, Head of Exposure Management at Lloyd's, Rupert Atkin, an esteemed underwriting veteran, and Dickie Whitaker, CEO of Oasis Loss Modelling Framework, dive deep into exposure management and catastrophe modeling. They tackle pressing questions about market dominance, the adequacy of executive knowledge, and the dire need for accurate, transferable data. The trio emphasizes the importance of adapting models to evolving climate risks and the significance of collaboration across the industry to enhance understanding and decision-making.

Today’s guest is going to be giving us a masterclass in a really specialist and relatively new class of business that most of us will have heard about over the last 15-20 years, but few will have had the chance to get to know intimately. The class is Warranty and Indemnity (W&I) which is also often known as Reps and Warranties, and the expert who is going to guide us through this fascinating world is James Dodd, founder of recently-launched specialist MGA, Devonshire Underwriting. James is an exceptional entrepreneur and this podcast will answer all the questions you had about this exciting class of business but were too scared to ask, as well as leave you in no doubt of the scale of ambition of James and his growing team. We’ll learn the ins and outs of this specialist line as well as the state of its finely-balanced markets. James is a great communicator and a patient teacher and if you give me the next half an hour, I promise you’ll learn an awful lot, as well as have some fun on the way. LINKS: We thank our naming sponsor AdvantageGo: https://www.advantagego.com We also thank audio advertiser, The Insurance Network (TIN), organiser of the highly-successful TINtech events series. They are advertising their new London-based event, Data Jam, which is focused on exploring the implications and opportunities of data, analytics, AI and automation in the insurance sector. It’s on 28th November at Convene, 133 Houndsditch, London EC3. I’m going to be there. Get 20% off using the code ‘voice’ when you sign up Here