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Hello and welcome to
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the Markel Meets podcast,
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brought to you by Markel,
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the people powered global
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specialist insurer.
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In this series will be getting to know
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colleagues from Markel's
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wholesale business
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through a series of simple 1 to 1 chats
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where our guests reveal
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a bit about what's happening
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in their respective roles and markets,
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and share their opinions on topics
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such as attracting new talent,
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the future of the London Market
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and responding to emerging risks.
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We hope that Markel Meets will offer
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our listeners
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interesting insight, fresh perspectives
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and an honest introduction
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to our most valued asset,
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which is our people.
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Our guest today is Chris O'Shea.
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Chris joined
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Markel in 2017 and has held various Claims
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leadership roles,
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including Director of Wholesale Claims,
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which he started in 2019
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before taking on the role
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of Managing Director
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of International Claims
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in February of 2024.
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Chris joined the insurance
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industry straight
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from school in 1999,
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so around 25 years ago and worked at Guy
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Carpenter, QBE, Montpellier and Ariel Re
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prior to joining Markel.
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Chris, welcome to the podcast.
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Great to have you on as a guest today.
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Thank you for having me.
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I've given our listeners a brief overview
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of your career to date,
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but with not much detail included.
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So can I ask you to just fill
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in some of the blanks of the last
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25 years? Sure.
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25 years sounds a long time so.
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so I'm kind of that
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epitome of falling
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into the insurance industry
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and falling into claims itself,
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which, was with,
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a local broking house at the time.
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Guy Carpenter,
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spent 3 or 4 years
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there as a claims technician.
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but found myself wanting to move over
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to the claims adjustment
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side of the fence.
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So I moved into the London,
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specifically into London Market,
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joined QBE, spent eight, years at QBE,
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when my claims mentor at the time
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moved over to a company
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called Montpellier -
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which no longer exists
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anymore via some, various M&A activity.
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but he needed a succession plan.
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And, thankfully
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for me, of all the people
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he could have chosen,
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he chose to bring me over to Montpellier.
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So I took over as head of claims
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of Montpellier at the age of 30,
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which was kind of a
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very quick introduction
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to claims leadership.
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and all things.
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Lloyd's and London Market,
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requirement
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wise. Built a team there at Montpellier.
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subsequently
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joined Ariel Re, did the same process,
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same role of building the claims team,
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heading up that claims function
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and then was approached by Markel
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back in 2017,
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to head up its reinsurance claims team.
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And as you mentioned, I've
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kind of
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had various roles, claims
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leadership roles at Markel.
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And today find myself
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as the wholesale claims director -
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but with additional responsibilities
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as the managing director
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of international claims.
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And you're also the outgoing chair
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of the Complex Claims Group
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and the deputy chair of the LMA
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Claims Committee aren’t you, Chris.
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So if your day job wasn't
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busy enough,
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you've also got
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those additional responsibilities.
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So what does,
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with all of those kind of hats on,
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what does a typical day, a typical week
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look like for you?
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Sure.
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So, I mean, my day job really
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is the wholesale claims director role.
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So that encompasses,
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leading a team of 75 claims individuals
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across our London,
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Singapore and Australia platforms.
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And largely
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speaking, that
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results in,
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the kind of
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strategic leadership
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meetings throughout the week,
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representing both
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the claims team in its own
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kind of operational claims function
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but also
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representing international claims
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within the wider business and then
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you mentioned
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the Complex Claims Committee
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and the LMACC, the LMA Claims Committee.
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they are kind of,
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monthly, quarterly type involvements
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engagements,
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but lots of work
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interim, in between those meetings.
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so the Complex Claims Group, the concept
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behind that is, when an event,
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or a situation - could be the
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Russian invasion of Ukraine
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or it could be inflation,
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or perhaps even Covid,
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which impacted, obviously,
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a few years back,
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where it impacts
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multiple sector groups
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and multiple class of business.
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The job of the complex claims
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group is to bring together
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the leads of each of those sectors
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and really address
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kind of, the market response
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for a cross, cross-class event.
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And that could involve,
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a natural catastrophe as well.
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The London Market remains -
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doesn't it, Chris -
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The, you know, the
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the global heart of complex
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insurance,
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underwriting and claims functions
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And I think it's fair to say that
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claims trends tend to mimic
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what's happening in the world around us.
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You touched on
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a couple of
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very significant sociopolitical events
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that are happening
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at the moment in the world.
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But in terms of those most,
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you know,
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the most impactful claims trends
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that you're seeing at the moment,
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and the most complex trends
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that you're seeing,
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Can you elaborate,
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give us a little bit of detail
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around that?
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Yeah, I mean, it's quite a wide
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range a question really,
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you know, from AI to data to,
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kind of the sociopolitical issues
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we've seen emanating
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from Russia's
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invasion of Ukraine,
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but also kind of the
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Israel-Palestine situation.
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and, you know, the impact to,
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to Markel
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within those
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those spheres really has been -
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products are designed for
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those exact situations.
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With Russia Ukraine
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we were largely impacted
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on the War on Land and the Marine
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War side of the fence.
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you know,
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those products
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are well-established products
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which are meant to respond
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to those type of situations.
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The interesting dynamics or complexity
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which comes into it
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which we found, certainly
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with the Russia Ukraine situation,
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was the investigation
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and adjustment of claims
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given you were in a war zone.
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So the use of technology in that
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sphere is very important.
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and a consistent market approach,
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is particularly important.
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We've seen the same given the
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Israeli Hamas situation.
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And that has led
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into seeing vessels targeted
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and detained in the Gulf of Aden
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and, you know,
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some instances of vessels
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being captured by Iran
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and again, the products,
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largely speaking, are designed for
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that exact type of situation,
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which lets us respond
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accordingly to our clients
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at their time of need.
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But there are always kind of intricacies
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and complexities
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with each given situation,
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which need working through.
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And
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while of course,
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you know, we would all wish that
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none of these,
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none of these conflicts
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were happening in the world,
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in terms of the practical,
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you know, the practical management
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and providing the best claims
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service possible and the best support
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possible in these instances in the claims
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handling process
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and in order to provide the best
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possible claims service
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I imagine that
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being able to refer to
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precedent and lessons
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learned and just general experience
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of handling certain type of claims
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is absolutely imperative
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and very, very valuable.
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But we see emerging risks
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coming through all the time, Chris, and,
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new challenges, new
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things like new technologies
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such as generative AI,
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which is very
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topical at the moment, that
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many industries won't
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have had a great deal of experience of
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and we haven't seen
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perhaps many claims in that area.
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So what is the
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you know,
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what tends to be the approach
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to truly emerging and new risks?
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Yeah.
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The geo and socio
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political kind of environment,
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as well as emergence of technology
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definitely bring about new challenges,
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and test our existing products
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or new products.
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and it's fair to say
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that it takes time for a product
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to evolve and or coverage
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to be defined
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or clarity provided
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perhaps on coverage
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as these issues are tested.
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We've seen the emergence
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of deepfake and copyright type claims
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and it will
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absolutely take some time for the
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clarification of exactly how products
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should respond
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and tailoring of those products
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to make them clearer
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for their coverage requirements.
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And when it comes then to data,
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you know,
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I suppose this all
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ultimately comes back to
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good data, having the right type of data,
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but arguably there's
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00:10:17,880 --> 00:10:18,160
a bit
299
00:10:18,160 --> 00:10:19,560
of a proliferation of data
300
00:10:19,560 --> 00:10:23,200
at the moment and the advent of, again,
301
00:10:24,040 --> 00:10:25,200
new technologies
302
00:10:25,200 --> 00:10:28,240
which are generating more ample data,
303
00:10:28,480 --> 00:10:30,360
there's a focus on better data,
304
00:10:30,360 --> 00:10:31,760
but is there such a thing
305
00:10:31,760 --> 00:10:34,720
as too much data?
306
00:10:34,720 --> 00:10:38,400
And in terms of how claims
307
00:10:38,800 --> 00:10:41,560
uses that data
308
00:10:41,560 --> 00:10:44,560
what are some of the pros and cons to it?
309
00:10:45,480 --> 00:10:46,840
I think it's important to say
310
00:10:46,840 --> 00:10:49,480
that I'm a huge advocate of data
311
00:10:49,480 --> 00:10:52,080
as long as it's used
312
00:10:52,080 --> 00:10:55,080
in the right, for the right reasons.
313
00:10:55,320 --> 00:10:57,600
there is, to your question,
314
00:10:57,600 --> 00:10:58,920
there's definitely a danger
315
00:10:58,920 --> 00:11:01,160
of producing too much data.
316
00:11:01,160 --> 00:11:04,440
I would argue it's where we utilise
317
00:11:04,440 --> 00:11:06,360
or who we produce that data
318
00:11:06,360 --> 00:11:08,200
for is perhaps the danger.
319
00:11:09,640 --> 00:11:10,920
And businesses can
320
00:11:10,920 --> 00:11:12,120
fall into the trap of kind
321
00:11:12,120 --> 00:11:14,000
of pumping out more data
322
00:11:14,000 --> 00:11:15,120
or pushing more data
323
00:11:15,120 --> 00:11:16,920
to make it available for, say,
324
00:11:16,920 --> 00:11:18,160
a claims handler.
325
00:11:18,160 --> 00:11:18,440
But if
326
00:11:18,440 --> 00:11:19,600
they don't have
327
00:11:19,600 --> 00:11:20,400
the time
328
00:11:20,400 --> 00:11:21,360
to really digest
329
00:11:21,360 --> 00:11:22,200
that data
330
00:11:22,200 --> 00:11:25,200
and make that data work for them, then
331
00:11:25,800 --> 00:11:27,840
it's just data.
332
00:11:27,840 --> 00:11:29,760
It just doesn't help the process
333
00:11:29,760 --> 00:11:30,680
in any shape or form.
334
00:11:30,680 --> 00:11:32,280
So it's really important
335
00:11:32,280 --> 00:11:33,800
that you
336
00:11:33,800 --> 00:11:36,480
think about what data you're producing
337
00:11:36,480 --> 00:11:38,440
and the reasons you're producing it
338
00:11:38,440 --> 00:11:41,560
and providing the right processes
339
00:11:41,560 --> 00:11:42,360
and procedures
340
00:11:42,360 --> 00:11:44,480
to utilise that data accordingly.
341
00:11:44,480 --> 00:11:45,200
And technology
342
00:11:45,200 --> 00:11:47,520
can definitely help in that space.
343
00:11:47,520 --> 00:11:49,920
So what does good data look like
344
00:11:49,920 --> 00:11:52,920
from a claim handler's perspective?
345
00:11:53,520 --> 00:11:57,680
I think good data needs to be data
346
00:11:57,680 --> 00:12:03,000
which is clear and tells the story
347
00:12:03,000 --> 00:12:04,320
of what you're trying
348
00:12:04,320 --> 00:12:08,200
to dissect, effectively.
349
00:12:09,360 --> 00:12:10,920
Just giving
350
00:12:10,920 --> 00:12:15,160
broad data, years’ worth of data,
351
00:12:15,160 --> 00:12:18,600
perhaps, doesn't really provide
352
00:12:18,720 --> 00:12:21,360
a claims handler with much information.
353
00:12:21,360 --> 00:12:23,640
Really what we're looking for,
354
00:12:23,640 --> 00:12:24,720
there is data
355
00:12:24,720 --> 00:12:26,960
which is going to help that handler
356
00:12:26,960 --> 00:12:28,680
adjust that claim
357
00:12:28,680 --> 00:12:32,720
or really identify indicators
358
00:12:32,880 --> 00:12:34,960
which suggest
359
00:12:34,960 --> 00:12:36,960
they should take either a certain strategy
360
00:12:36,960 --> 00:12:38,680
and approach with that claim.
361
00:12:38,680 --> 00:12:41,680
or it stands out for some reason.
362
00:12:41,880 --> 00:12:42,120
you know,
363
00:12:42,120 --> 00:12:44,280
perhaps that's the lifecycle of a claim.
364
00:12:44,280 --> 00:12:46,240
And there's a particular claim
365
00:12:46,240 --> 00:12:47,840
where its, kind of,
366
00:12:47,840 --> 00:12:51,120
life cycle peaks out of the norm.
367
00:12:51,600 --> 00:12:53,160
and that probably
368
00:12:53,160 --> 00:12:54,360
should drive a claims team
369
00:12:54,360 --> 00:12:55,880
to look at that claim,
370
00:12:55,880 --> 00:13:00,600
and assess why or why that has happened.
371
00:13:00,840 --> 00:13:02,040
Now, we've talked
372
00:13:02,040 --> 00:13:02,520
a fair bit
373
00:13:02,520 --> 00:13:05,520
there about data and analytics
374
00:13:06,040 --> 00:13:07,200
and the importance of that, Chris.
375
00:13:07,200 --> 00:13:07,960
Absolutely.
376
00:13:07,960 --> 00:13:11,280
But claims and the insurance market
377
00:13:11,480 --> 00:13:13,000
in general remains
378
00:13:13,000 --> 00:13:15,000
a very people and relationship
379
00:13:15,000 --> 00:13:17,000
driven industry.
380
00:13:17,000 --> 00:13:18,200
And you've got a great team at Markel.
381
00:13:18,200 --> 00:13:19,200
You’ve got a great claims
382
00:13:19,200 --> 00:13:21,040
team reporting in to you.
383
00:13:21,040 --> 00:13:24,320
What in your view is key to what
384
00:13:24,440 --> 00:13:25,240
what first of all,
385
00:13:25,240 --> 00:13:28,240
what makes a good claims handler?
386
00:13:28,760 --> 00:13:31,560
And what do you think is key to retaining
387
00:13:31,560 --> 00:13:33,080
and attracting
388
00:13:33,080 --> 00:13:35,440
top talent in the claims industry?
389
00:13:35,440 --> 00:13:35,640
Yeah.
390
00:13:35,640 --> 00:13:37,520
So I mean, there's many characteristics
391
00:13:37,520 --> 00:13:38,760
to a good claims handler.
392
00:13:38,760 --> 00:13:41,520
And with the advantage
393
00:13:41,520 --> 00:13:43,080
of having quite a large claims
394
00:13:43,080 --> 00:13:45,680
team, I need a broad,
395
00:13:45,680 --> 00:13:47,720
diversification of those,
396
00:13:47,720 --> 00:13:49,560
those attributes.
397
00:13:49,560 --> 00:13:52,320
but definitely at the heart of
398
00:13:52,320 --> 00:13:54,320
a good claims handler in my mind is
399
00:13:54,320 --> 00:13:55,200
is hard working,
400
00:13:55,200 --> 00:13:58,200
an inquisitive kind of approach.
401
00:13:58,560 --> 00:14:00,640
Definitely needs to have those technical
402
00:14:00,640 --> 00:14:02,520
capabilities.
403
00:14:04,560 --> 00:14:07,880
and, you know, question the norm.
404
00:14:08,760 --> 00:14:13,160
I'm a big advocate for
405
00:14:13,160 --> 00:14:15,520
making sure you understand, and question
406
00:14:15,520 --> 00:14:17,360
where you don't.
407
00:14:17,360 --> 00:14:20,440
With regards to
408
00:14:20,920 --> 00:14:24,120
retaining top talent and
409
00:14:24,320 --> 00:14:28,280
attracting top talent, you, you know,
410
00:14:28,880 --> 00:14:30,000
retention of top talent.
411
00:14:30,000 --> 00:14:33,000
I've always kind of said that,
412
00:14:33,680 --> 00:14:36,680
unfortunately, I will lose good staff.
413
00:14:36,680 --> 00:14:40,920
because of a variety of reasons.
414
00:14:41,520 --> 00:14:42,960
you know, whether that be personal
415
00:14:42,960 --> 00:14:44,440
or industry led.
416
00:14:44,440 --> 00:14:46,240
I'd be kidding myself
417
00:14:46,240 --> 00:14:48,480
if I said I wouldn't lose good staff.
418
00:14:48,480 --> 00:14:51,360
Hopefully I retain the vast majority,
419
00:14:51,360 --> 00:14:52,880
but as long as those staff
420
00:14:52,880 --> 00:14:54,840
who I don't want to lose
421
00:14:54,840 --> 00:14:58,320
go out into the market and sing
422
00:14:58,320 --> 00:15:00,560
the praises of Markel or Markel’s
423
00:15:00,560 --> 00:15:01,080
claims team
424
00:15:01,080 --> 00:15:02,080
then I kind of feel
425
00:15:02,080 --> 00:15:03,480
like I've already won,
426
00:15:03,480 --> 00:15:04,560
in that regard.
427
00:15:04,560 --> 00:15:07,400
From an attraction perspective,
428
00:15:08,560 --> 00:15:09,440
we all need
429
00:15:09,440 --> 00:15:12,440
to do more, for
430
00:15:12,560 --> 00:15:15,560
the claims industry specifically.
431
00:15:16,880 --> 00:15:19,080
There are too many people like myself
432
00:15:19,080 --> 00:15:20,040
who have found themselves
433
00:15:20,040 --> 00:15:21,560
falling into the
434
00:15:21,560 --> 00:15:22,720
insurance industry
435
00:15:22,720 --> 00:15:24,360
and falling into claims
436
00:15:24,360 --> 00:15:25,920
and we need to change that dial
437
00:15:25,920 --> 00:15:27,600
turn that dial up to
438
00:15:27,600 --> 00:15:29,720
people wanting to join the industry.
439
00:15:29,720 --> 00:15:31,440
and there's,
440
00:15:31,440 --> 00:15:33,880
you know, huge opportunities,
441
00:15:33,880 --> 00:15:36,480
and great careers to be made
442
00:15:36,480 --> 00:15:39,240
and we need to connect those dots
443
00:15:39,240 --> 00:15:41,000
better to
444
00:15:41,000 --> 00:15:44,040
make universities and school leavers
445
00:15:44,040 --> 00:15:47,000
and so forth want to join the industry.
446
00:15:47,000 --> 00:15:49,120
We need to sell these careers
447
00:15:49,120 --> 00:15:50,400
better. These are.
448
00:15:50,400 --> 00:15:51,400
are careers
449
00:15:51,400 --> 00:15:53,680
we should be singing the praises of.
450
00:15:53,680 --> 00:15:54,600
Absolutely.
451
00:15:54,600 --> 00:15:56,640
I completely agree with you.
452
00:15:56,640 --> 00:15:59,880
And do you think that there is, you know,
453
00:15:59,880 --> 00:16:01,440
is there anything that you identify
454
00:16:01,440 --> 00:16:03,360
as being something that could be done
455
00:16:03,360 --> 00:16:04,840
better or differently
456
00:16:04,840 --> 00:16:10,000
within the London Market to promote,
457
00:16:10,000 --> 00:16:13,400
the, the benefits of a of a career
458
00:16:13,400 --> 00:16:14,280
in insurance?
459
00:16:15,280 --> 00:16:15,840
Yeah,
460
00:16:15,840 --> 00:16:16,720
as I say, I
461
00:16:16,720 --> 00:16:18,680
think I think we all individually
462
00:16:18,680 --> 00:16:20,040
have our responsibilities,
463
00:16:20,040 --> 00:16:21,480
but as a collective marketplace
464
00:16:21,480 --> 00:16:23,440
we have responsibilities as well.
465
00:16:23,440 --> 00:16:25,880
we're a big advocate at
466
00:16:25,880 --> 00:16:26,160
Markel
467
00:16:26,160 --> 00:16:27,520
of
468
00:16:27,520 --> 00:16:30,120
attracting and training our own talent.
469
00:16:30,120 --> 00:16:32,680
So our, claims grad scheme and claims
470
00:16:32,680 --> 00:16:33,360
apprentice scheme
471
00:16:33,360 --> 00:16:34,680
has been extremely successful
472
00:16:34,680 --> 00:16:35,920
in the last few years
473
00:16:35,920 --> 00:16:37,360
and we will continue to drive
474
00:16:37,360 --> 00:16:41,400
that success. As a market place
475
00:16:43,200 --> 00:16:45,920
we need to explain the industry better
476
00:16:45,920 --> 00:16:48,560
people kind of hear ‘claims’
477
00:16:48,560 --> 00:16:50,320
and they think call centre
478
00:16:50,320 --> 00:16:52,040
and that's not what we are.
479
00:16:52,040 --> 00:16:55,240
The LMA actually are doing
480
00:16:55,240 --> 00:16:57,200
a huge amount of work
481
00:16:57,200 --> 00:17:00,200
leveraging their next gen
482
00:17:00,200 --> 00:17:03,280
which is looking at that -
483
00:17:04,160 --> 00:17:07,160
connection points between the career
484
00:17:07,160 --> 00:17:10,680
forums and the insurance industry
485
00:17:11,040 --> 00:17:14,200
and, and really kind of,
486
00:17:15,680 --> 00:17:18,560
explaining the intricacies of the claims
487
00:17:18,560 --> 00:17:21,120
insurance market
488
00:17:21,120 --> 00:17:24,120
as well as
489
00:17:24,200 --> 00:17:26,520
simplifying the terminology
490
00:17:26,520 --> 00:17:27,400
that we use
491
00:17:27,400 --> 00:17:29,040
and explaining that to the layperson
492
00:17:29,040 --> 00:17:30,440
on the street. Insurance
493
00:17:30,440 --> 00:17:32,240
does love an acronym doesn’t it
494
00:17:32,240 --> 00:17:33,800
So that could we do
495
00:17:33,800 --> 00:17:35,960
absolutely need to be mindful of that.
496
00:17:35,960 --> 00:17:37,000
You clearly are a passionate
497
00:17:37,000 --> 00:17:39,960
advocate Chris, of
498
00:17:39,960 --> 00:17:41,240
careers in insurance
499
00:17:41,240 --> 00:17:43,320
and more specifically of careers
500
00:17:43,320 --> 00:17:44,760
within claims,
501
00:17:44,760 --> 00:17:46,200
but what is it for you
502
00:17:46,200 --> 00:17:47,880
personally that still fires
503
00:17:47,880 --> 00:17:49,240
you up, still gets you out of bed
504
00:17:49,240 --> 00:17:50,960
in the morning?
505
00:17:50,960 --> 00:17:51,440
Yeah.
506
00:17:51,440 --> 00:17:52,560
I mean, I'm in the privileged,
507
00:17:52,560 --> 00:17:54,240
privileged position
508
00:17:54,240 --> 00:17:57,560
of being a senior leader
509
00:17:57,560 --> 00:18:00,560
in a business which is looking to grow
510
00:18:01,040 --> 00:18:04,000
and open up new opportunities
511
00:18:04,000 --> 00:18:05,280
which brings challenges
512
00:18:05,280 --> 00:18:08,280
fresh challenges, which need
513
00:18:08,840 --> 00:18:10,440
tackling on a day to day basis,
514
00:18:10,440 --> 00:18:11,920
but strategically thinking
515
00:18:11,920 --> 00:18:13,120
mid and long term.
516
00:18:14,440 --> 00:18:15,520
But I also have
517
00:18:15,520 --> 00:18:16,440
the, the
518
00:18:16,440 --> 00:18:18,480
privilege of leading a 75
519
00:18:18,480 --> 00:18:21,920
strong claims team, who
520
00:18:23,480 --> 00:18:26,280
apply themselves to the role,
521
00:18:26,280 --> 00:18:27,880
passionate about claims
522
00:18:27,880 --> 00:18:29,760
and the service that we provide.
523
00:18:29,760 --> 00:18:32,400
And that's just something
524
00:18:32,400 --> 00:18:35,560
which motivates me in my daily job.
525
00:18:36,720 --> 00:18:37,680
And it's an award
526
00:18:37,680 --> 00:18:38,920
winning claims team as well.
527
00:18:38,920 --> 00:18:39,560
It is yeah
528
00:18:39,560 --> 00:18:42,800
And a recent recipient of the Gracechurch
529
00:18:43,040 --> 00:18:44,200
Marque of Excellence as well.
530
00:18:44,200 --> 00:18:46,080
So congratulations to,
531
00:18:46,080 --> 00:18:47,760
to all involved on that,
532
00:18:47,760 --> 00:18:49,480
which is absolutely brilliant.
533
00:18:49,480 --> 00:18:51,560
We’ve talked a bit about the people,
534
00:18:51,560 --> 00:18:51,720
you know,
535
00:18:51,720 --> 00:18:53,280
the people that make up this team,
536
00:18:53,280 --> 00:18:56,280
the characteristics, the,
537
00:18:56,280 --> 00:18:58,240
the technical abilities that they have.
538
00:18:58,240 --> 00:18:58,560
Chris.
539
00:18:58,560 --> 00:19:00,640
But overall,
540
00:19:00,640 --> 00:19:01,320
what is it
541
00:19:01,320 --> 00:19:04,800
that makes a really great claims service?
542
00:19:06,360 --> 00:19:08,960
Yeah, it's a very topical question
543
00:19:08,960 --> 00:19:11,240
because I would say
544
00:19:11,240 --> 00:19:13,240
claims hasn't changed
545
00:19:13,240 --> 00:19:15,120
massively in the 25 years
546
00:19:15,120 --> 00:19:16,320
I've been in the industry,
547
00:19:16,320 --> 00:19:19,520
obviously, kind of new products emerge,
548
00:19:19,520 --> 00:19:20,880
and new technologies emerge
549
00:19:20,880 --> 00:19:21,720
and that kind of changes
550
00:19:21,720 --> 00:19:23,400
process and, and so forth.
551
00:19:23,400 --> 00:19:25,200
But a claim is still a claim.
552
00:19:25,200 --> 00:19:27,960
What has changed over that time
553
00:19:27,960 --> 00:19:28,920
is the prominence
554
00:19:28,920 --> 00:19:31,120
of a quality claims service.
555
00:19:31,120 --> 00:19:32,280
And really the definition
556
00:19:32,280 --> 00:19:34,800
of what quality means.
557
00:19:34,800 --> 00:19:38,440
The placing broker
558
00:19:38,440 --> 00:19:40,480
environment has definitely
559
00:19:40,480 --> 00:19:41,640
turned the dial
560
00:19:41,640 --> 00:19:44,360
on the importance of a claims service
561
00:19:44,360 --> 00:19:46,120
when they're considering what markets
562
00:19:46,120 --> 00:19:47,800
they wish to place business with
563
00:19:47,800 --> 00:19:48,560
and rightly so,
564
00:19:48,560 --> 00:19:49,320
I think, you know,
565
00:19:49,320 --> 00:19:51,400
that should have happened years ago.
566
00:19:51,400 --> 00:19:52,120
We are,
567
00:19:52,120 --> 00:19:54,400
after all, kind of the products
568
00:19:54,400 --> 00:19:55,800
which we are selling.
569
00:19:55,800 --> 00:19:58,640
So I think the definition of a quality
570
00:19:58,640 --> 00:20:01,080
claims service is very prominent
571
00:20:01,080 --> 00:20:02,080
right now
572
00:20:02,080 --> 00:20:04,160
and that really goes
573
00:20:04,160 --> 00:20:06,200
to the technical expertise
574
00:20:06,200 --> 00:20:06,960
which you touched on
575
00:20:06,960 --> 00:20:10,640
but also the communication element,
576
00:20:10,640 --> 00:20:12,120
the supportive element
577
00:20:12,120 --> 00:20:14,480
to the client and the broker,
578
00:20:14,480 --> 00:20:16,600
to have candid conversations
579
00:20:16,600 --> 00:20:18,400
when those conversations are required
580
00:20:19,960 --> 00:20:20,880
and, you
581
00:20:20,880 --> 00:20:23,200
know, at the heart, speed is still,
582
00:20:23,200 --> 00:20:24,720
of course, still important
583
00:20:24,720 --> 00:20:26,080
but in the wholesale world,
584
00:20:26,080 --> 00:20:26,640
we're talking about
585
00:20:26,640 --> 00:20:28,480
complex risks, largely.
586
00:20:28,480 --> 00:20:31,280
and there's a recognition that that that
587
00:20:31,280 --> 00:20:34,040
those complex claims can take time.
588
00:20:34,040 --> 00:20:37,040
So really
589
00:20:37,320 --> 00:20:39,720
approaching those complex
590
00:20:39,720 --> 00:20:42,240
claims and complex situations
591
00:20:42,240 --> 00:20:43,800
hand in hand with the broker
592
00:20:43,800 --> 00:20:47,080
and the client, are really important
593
00:20:47,080 --> 00:20:48,360
And the proof
594
00:20:48,360 --> 00:20:50,040
is in the pudding in the sense of
595
00:20:50,040 --> 00:20:51,520
we like to use buzzwords
596
00:20:51,520 --> 00:20:53,080
in the insurance industry.
597
00:20:53,080 --> 00:20:54,720
Rightly so,
598
00:20:54,720 --> 00:20:57,960
brokers are challenging those buzzwords
599
00:20:57,960 --> 00:21:00,120
and one can see the evidence
600
00:21:00,120 --> 00:21:01,480
within the claims service.
601
00:21:01,480 --> 00:21:02,760
I don't think anyone would
602
00:21:02,760 --> 00:21:06,280
deny, Chris, that the efficiency,
603
00:21:06,280 --> 00:21:09,280
the speed, the application of technical
604
00:21:09,800 --> 00:21:12,720
ability and ultimately, you know, the
605
00:21:12,720 --> 00:21:14,040
the demonstration
606
00:21:14,040 --> 00:21:16,880
that there is a desire to pay a claim is
607
00:21:16,880 --> 00:21:17,880
absolutely paramount.
608
00:21:19,200 --> 00:21:20,280
However, do
609
00:21:20,280 --> 00:21:22,680
you think it's fair to say that the
610
00:21:22,680 --> 00:21:23,760
the human aspect
611
00:21:23,760 --> 00:21:24,440
you know, the
612
00:21:24,440 --> 00:21:27,440
the person to person consideration
613
00:21:27,600 --> 00:21:29,360
is also a really important
614
00:21:29,360 --> 00:21:32,360
factor given how -
615
00:21:32,760 --> 00:21:34,040
given the kind of the emotions
616
00:21:34,040 --> 00:21:35,520
that can be involved
617
00:21:35,520 --> 00:21:39,160
in a claims experience for a company.
618
00:21:39,840 --> 00:21:41,600
Yeah, I think it's right at the heart
619
00:21:41,600 --> 00:21:44,600
of the service we're providing.
620
00:21:45,320 --> 00:21:47,400
Whether it's an individual
621
00:21:47,400 --> 00:21:48,560
or a business,
622
00:21:48,560 --> 00:21:51,560
it's still a human-led business,
623
00:21:51,840 --> 00:21:55,360
people led business, which, on
624
00:21:55,360 --> 00:21:56,760
both sides,
625
00:21:56,760 --> 00:21:59,120
it is people to people interaction
626
00:21:59,120 --> 00:22:01,040
and the impact that that may have
627
00:22:01,040 --> 00:22:01,880
and the stresses that,
628
00:22:01,880 --> 00:22:05,760
that may cause, are really important
629
00:22:05,960 --> 00:22:07,520
to identify, and dynamics
630
00:22:07,520 --> 00:22:08,600
which need to be dealt
631
00:22:08,600 --> 00:22:10,440
with very sensitively.
632
00:22:10,440 --> 00:22:12,240
So, yeah,
633
00:22:12,240 --> 00:22:13,600
right at the heart of the claims
634
00:22:13,600 --> 00:22:14,800
service really,
635
00:22:14,800 --> 00:22:18,240
really important to understand the impact
636
00:22:18,240 --> 00:22:20,080
of an individual claim
637
00:22:20,080 --> 00:22:21,960
or a series of claims
638
00:22:21,960 --> 00:22:24,680
and how the response to that claim
639
00:22:24,680 --> 00:22:25,800
can impact that
640
00:22:25,800 --> 00:22:27,480
that person at the end of the chain.
641
00:22:27,480 --> 00:22:29,200
And on that note then of,
642
00:22:29,200 --> 00:22:30,840
remembering, you know, the person
643
00:22:30,840 --> 00:22:32,280
behind the behind
644
00:22:32,280 --> 00:22:33,800
the job, behind the title,
645
00:22:33,800 --> 00:22:35,840
you have a life outside of work.
646
00:22:35,840 --> 00:22:39,480
Are there certain passions
647
00:22:39,480 --> 00:22:39,960
- are there certain
648
00:22:39,960 --> 00:22:42,480
things that you would have pursued
649
00:22:42,480 --> 00:22:45,520
were it not for your career in claims?
650
00:22:46,440 --> 00:22:47,320
Yeah, I,
651
00:22:47,320 --> 00:22:50,640
I mean, now I'm in the claims industry.
652
00:22:51,560 --> 00:22:54,560
I feel that my career will remain in
653
00:22:54,560 --> 00:22:56,160
claims, had various
654
00:22:56,160 --> 00:22:57,040
opportunities to move
655
00:22:57,040 --> 00:22:58,400
to the underwriting side of the fence -
656
00:22:58,400 --> 00:23:00,080
wasn't really for me.
657
00:23:00,080 --> 00:23:03,720
And I had a member of my, claims
658
00:23:03,720 --> 00:23:05,160
leadership team charged me recently
659
00:23:05,160 --> 00:23:07,000
around kind of my career aspirations.
660
00:23:07,000 --> 00:23:08,080
And, you know,
661
00:23:08,080 --> 00:23:08,720
the question
662
00:23:08,720 --> 00:23:09,760
kind of led to, well, surely
663
00:23:09,760 --> 00:23:11,920
you want to be a CEO.
664
00:23:11,920 --> 00:23:13,800
and my answer was no.
665
00:23:13,800 --> 00:23:16,800
You know, I, I love the claims space.
666
00:23:16,800 --> 00:23:18,600
And that's where I see my career.
667
00:23:19,640 --> 00:23:20,480
If I hadn't have
668
00:23:20,480 --> 00:23:22,200
found myself, 25 years ago,
669
00:23:22,200 --> 00:23:23,760
kind of falling into insurance
670
00:23:23,760 --> 00:23:26,760
and claims, at the time, I was studying
671
00:23:26,880 --> 00:23:28,560
to look into kind of sports
672
00:23:28,560 --> 00:23:30,640
science and physiotherapy,
673
00:23:30,640 --> 00:23:31,680
that's probably
674
00:23:31,680 --> 00:23:33,000
if I had gone to university
675
00:23:33,000 --> 00:23:36,480
that’s the route I would have taken,
676
00:23:36,480 --> 00:23:37,840
I found myself in the industry
677
00:23:37,840 --> 00:23:39,800
without that further education.
678
00:23:39,800 --> 00:23:41,520
You do see quite a lot of lawyers
679
00:23:41,520 --> 00:23:43,320
in the, in the claims space.
680
00:23:43,320 --> 00:23:44,080
I think
681
00:23:44,080 --> 00:23:45,400
a healthy blend of lawyers
682
00:23:45,400 --> 00:23:48,120
and non-lawyers is the right balance.
683
00:23:48,120 --> 00:23:49,280
I don't have that
684
00:23:49,280 --> 00:23:50,400
that legal background.
685
00:23:50,400 --> 00:23:54,080
So I decided relatively early in my career
686
00:23:54,080 --> 00:23:56,240
decided to train as a mediator.
687
00:23:56,240 --> 00:23:59,400
so, qualified as a mediator,
688
00:23:59,720 --> 00:24:01,120
knowing full
689
00:24:01,120 --> 00:24:02,760
well I wasn't planning
690
00:24:02,760 --> 00:24:04,720
on becoming a mediator
691
00:24:04,720 --> 00:24:07,200
- it's a useful string to
692
00:24:07,200 --> 00:24:09,000
add to your bow. Yeah.
693
00:24:09,000 --> 00:24:10,240
I mean, claims,
694
00:24:10,240 --> 00:24:11,800
claims
695
00:24:11,800 --> 00:24:13,400
about paying valid claims
696
00:24:13,400 --> 00:24:15,800
and paying them efficiently and quickly.
697
00:24:15,800 --> 00:24:17,560
But we will always find ourselves
698
00:24:17,560 --> 00:24:19,440
in those more complex situations
699
00:24:19,440 --> 00:24:21,120
where coverages
700
00:24:21,120 --> 00:24:22,960
perhaps needs more consideration.
701
00:24:22,960 --> 00:24:24,560
and
702
00:24:24,560 --> 00:24:25,960
we will certainly find ourselves in
703
00:24:25,960 --> 00:24:28,320
certainly as a leader of the claims team,
704
00:24:28,320 --> 00:24:29,960
in those negotiation type
705
00:24:29,960 --> 00:24:30,720
scenarios
706
00:24:30,720 --> 00:24:32,640
where I think the skills of the mediator
707
00:24:32,640 --> 00:24:33,840
are really important.
708
00:24:33,840 --> 00:24:34,920
Clearly, you know,
709
00:24:34,920 --> 00:24:37,440
excellent communication skills.
710
00:24:39,240 --> 00:24:40,320
are at the heart of
711
00:24:40,320 --> 00:24:41,520
good mediation, Chris.
712
00:24:41,520 --> 00:24:43,640
So let's put that to the test right now.
713
00:24:43,640 --> 00:24:44,400
This is my final
714
00:24:44,400 --> 00:24:47,400
the final question of the day.
715
00:24:47,640 --> 00:24:49,760
So it's your opportunity
716
00:24:49,760 --> 00:24:52,760
to give your elevator pitch,
717
00:24:52,760 --> 00:24:54,600
you're coming down in the lift
718
00:24:54,600 --> 00:24:56,080
from the 27th floor
719
00:24:56,080 --> 00:24:58,280
of 20 Fenchurch Street.
720
00:24:58,280 --> 00:25:00,760
And the person who is in that lift
721
00:25:00,760 --> 00:25:01,560
with you
722
00:25:01,560 --> 00:25:02,120
is someone
723
00:25:02,120 --> 00:25:04,760
you are seeking to convince that
724
00:25:04,760 --> 00:25:07,560
Markel is the place for you
725
00:25:07,560 --> 00:25:10,560
to place your business based on the value
726
00:25:10,680 --> 00:25:11,760
of the claims,
727
00:25:11,760 --> 00:25:13,000
of the claims
728
00:25:13,000 --> 00:25:15,480
team, the claims proposition.
729
00:25:15,480 --> 00:25:17,080
So
730
00:25:17,080 --> 00:25:18,160
use some of those
731
00:25:18,160 --> 00:25:19,600
communication skills to,
732
00:25:19,600 --> 00:25:22,600
to tell me why Markel
733
00:25:22,800 --> 00:25:23,040
Yeah,
734
00:25:23,040 --> 00:25:25,040
I mean, I would challenge that person
735
00:25:25,040 --> 00:25:27,320
to find a better claims service
736
00:25:27,320 --> 00:25:29,000
in the marketplace.
737
00:25:29,000 --> 00:25:31,960
Markel stands on its own two feet
738
00:25:31,960 --> 00:25:33,920
in the service that we provide.
739
00:25:33,920 --> 00:25:35,720
The communication
740
00:25:35,720 --> 00:25:37,320
is, as you rightly pointed to
741
00:25:37,320 --> 00:25:39,200
there, is critical
742
00:25:39,200 --> 00:25:41,240
to every kind of interaction
743
00:25:41,240 --> 00:25:42,920
within that claims experience.
744
00:25:44,280 --> 00:25:46,640
We understand
745
00:25:46,640 --> 00:25:49,280
the impact on the individual,
746
00:25:49,280 --> 00:25:50,800
and the service
747
00:25:50,800 --> 00:25:53,440
that we provide is vitally important.
748
00:25:53,440 --> 00:25:56,400
and Markel's technical expertise,
749
00:25:56,400 --> 00:25:59,800
which we have, the control framework
750
00:25:59,800 --> 00:26:01,160
we put around to ensure
751
00:26:01,160 --> 00:26:02,400
that those service levels
752
00:26:02,400 --> 00:26:04,240
are absolutely there
753
00:26:04,240 --> 00:26:05,880
and really the supportive
754
00:26:05,880 --> 00:26:07,520
nature of the team
755
00:26:07,520 --> 00:26:08,920
in supporting the broker
756
00:26:08,920 --> 00:26:09,680
and the client through
757
00:26:09,680 --> 00:26:10,560
that process
758
00:26:10,560 --> 00:26:13,480
is paramount to that decision.
759
00:26:13,480 --> 00:26:15,840
I think you've convinced me, Chris.
760
00:26:15,840 --> 00:26:16,840
Certainly.
761
00:26:16,840 --> 00:26:17,520
Listen,
762
00:26:17,520 --> 00:26:18,720
it's been an absolute pleasure
763
00:26:18,720 --> 00:26:20,680
to have you on the podcast today.
764
00:26:20,680 --> 00:26:22,520
Thank you so much for joining us.
765
00:26:22,520 --> 00:26:24,200
you're welcome back any time.
766
00:26:24,200 --> 00:26:25,680
We wish you the very best of luck
767
00:26:25,680 --> 00:26:27,680
in your new expanded role.
768
00:26:27,680 --> 00:26:29,040
Thank you. Thanks.
769
00:26:29,040 --> 00:26:30,760
That's it for today's episode.
770
00:26:30,760 --> 00:26:33,760
Thanks so much for listening.
771
00:26:34,040 --> 00:26:34,480
00:00:00,240 --> 00:00:01,320
Hello and welcome to
2
00:00:01,320 --> 00:00:03,080
the Markel Meets podcast,
3
00:00:03,080 --> 00:00:04,440
brought to you by Markel,
4
00:00:04,440 --> 00:00:05,680
the people powered global
5
00:00:05,680 --> 00:00:07,760
specialist insurer.
6
00:00:07,760 --> 00:00:09,200
In this series will be getting to know
7
00:00:09,200 --> 00:00:10,160
colleagues from Markel's
8
00:00:10,160 --> 00:00:10,920
wholesale business
9
00:00:10,920 --> 00:00:13,400
through a series of simple 1 to 1 chats
10
00:00:13,400 --> 00:00:14,280
where our guests reveal
11
00:00:14,280 --> 00:00:15,360
a bit about what's happening
12
00:00:15,360 --> 00:00:17,520
in their respective roles and markets,
13
00:00:17,520 --> 00:00:19,040
and share their opinions on topics
14
00:00:19,040 --> 00:00:21,080
such as attracting new talent,
15
00:00:21,080 --> 00:00:22,800
the future of the London Market
16
00:00:22,800 --> 00:00:25,680
and responding to emerging risks.
17
00:00:25,680 --> 00:00:27,680
We hope that Markel Meets will offer
18
00:00:27,680 --> 00:00:28,680
our listeners
19
00:00:28,680 --> 00:00:31,360
interesting insight, fresh perspectives
20
00:00:31,360 --> 00:00:32,680
and an honest introduction
21
00:00:32,680 --> 00:00:34,160
to our most valued asset,
22
00:00:34,160 --> 00:00:37,160
which is our people.
23
00:00:41,680 --> 00:00:44,080
Our guest today is Chris O'Shea.
24
00:00:44,080 --> 00:00:44,880
Chris joined
25
00:00:44,880 --> 00:00:48,960
Markel in 2017 and has held various Claims
26
00:00:48,960 --> 00:00:50,000
leadership roles,
27
00:00:50,000 --> 00:00:52,560
including Director of Wholesale Claims,
28
00:00:52,560 --> 00:00:55,200
which he started in 2019
29
00:00:55,200 --> 00:00:56,840
before taking on the role
30
00:00:56,840 --> 00:00:57,760
of Managing Director
31
00:00:57,760 --> 00:00:58,800
of International Claims
32
00:00:58,800 --> 00:01:01,640
in February of 2024.
33
00:01:01,640 --> 00:01:02,720
Chris joined the insurance
34
00:01:02,720 --> 00:01:03,360
industry straight
35
00:01:03,360 --> 00:01:05,560
from school in 1999,
36
00:01:05,560 --> 00:01:09,400
so around 25 years ago and worked at Guy
37
00:01:09,400 --> 00:01:12,400
Carpenter, QBE, Montpellier and Ariel Re
38
00:01:12,440 --> 00:01:14,280
prior to joining Markel.
39
00:01:14,280 --> 00:01:15,720
Chris, welcome to the podcast.
40
00:01:15,720 --> 00:01:17,680
Great to have you on as a guest today.
41
00:01:17,680 --> 00:01:18,960
Thank you for having me.
42
00:01:18,960 --> 00:01:21,920
I've given our listeners a brief overview
43
00:01:21,920 --> 00:01:23,120
of your career to date,
44
00:01:23,120 --> 00:01:25,880
but with not much detail included.
45
00:01:25,880 --> 00:01:28,160
So can I ask you to just fill
46
00:01:28,160 --> 00:01:29,400
in some of the blanks of the last
47
00:01:29,400 --> 00:01:31,800
25 years? Sure.
48
00:01:31,800 --> 00:01:34,680
25 years sounds a long time so.
49
00:01:36,160 --> 00:01:38,880
so I'm kind of that
50
00:01:38,880 --> 00:01:39,840
epitome of falling
51
00:01:39,840 --> 00:01:41,480
into the insurance industry
52
00:01:41,480 --> 00:01:43,360
and falling into claims itself,
53
00:01:43,360 --> 00:01:46,400
which, was with,
54
00:01:46,720 --> 00:01:48,720
a local broking house at the time.
55
00:01:48,720 --> 00:01:49,720
Guy Carpenter,
56
00:01:49,720 --> 00:01:51,720
spent 3 or 4 years
57
00:01:51,720 --> 00:01:54,080
there as a claims technician.
58
00:01:54,080 --> 00:01:56,960
but found myself wanting to move over
59
00:01:56,960 --> 00:01:58,040
to the claims adjustment
60
00:01:58,040 --> 00:02:00,000
side of the fence.
61
00:02:00,000 --> 00:02:01,960
So I moved into the London,
62
00:02:01,960 --> 00:02:04,320
specifically into London Market,
63
00:02:04,320 --> 00:02:09,080
joined QBE, spent eight, years at QBE,
64
00:02:09,480 --> 00:02:12,560
when my claims mentor at the time
65
00:02:12,560 --> 00:02:14,720
moved over to a company
66
00:02:14,720 --> 00:02:15,880
called Montpellier -
67
00:02:15,880 --> 00:02:18,480
which no longer exists
68
00:02:18,480 --> 00:02:21,520
anymore via some, various M&A activity.
69
00:02:21,880 --> 00:02:23,920
but he needed a succession plan.
70
00:02:23,920 --> 00:02:25,880
And, thankfully
71
00:02:25,880 --> 00:02:27,400
for me, of all the people
72
00:02:27,400 --> 00:02:28,200
he could have chosen,
73
00:02:28,200 --> 00:02:30,040
he chose to bring me over to Montpellier.
74
00:02:30,040 --> 00:02:32,320
So I took over as head of claims
75
00:02:32,320 --> 00:02:34,040
of Montpellier at the age of 30,
76
00:02:34,040 --> 00:02:35,240
which was kind of a
77
00:02:35,240 --> 00:02:36,560
very quick introduction
78
00:02:36,560 --> 00:02:38,320
to claims leadership.
79
00:02:38,320 --> 00:02:40,440
and all things.
80
00:02:40,440 --> 00:02:42,480
Lloyd's and London Market,
81
00:02:42,480 --> 00:02:43,480
requirement
82
00:02:43,480 --> 00:02:46,880
wise. Built a team there at Montpellier.
83
00:02:47,240 --> 00:02:48,120
subsequently
84
00:02:48,120 --> 00:02:51,120
joined Ariel Re, did the same process,
85
00:02:51,120 --> 00:02:53,360
same role of building the claims team,
86
00:02:53,360 --> 00:02:55,160
heading up that claims function
87
00:02:55,160 --> 00:02:56,640
and then was approached by Markel
88
00:02:56,640 --> 00:02:58,320
back in 2017,
89
00:02:58,320 --> 00:03:00,600
to head up its reinsurance claims team.
90
00:03:01,640 --> 00:03:02,520
And as you mentioned, I've
91
00:03:02,520 --> 00:03:03,200
kind of
92
00:03:03,200 --> 00:03:04,640
had various roles, claims
93
00:03:04,640 --> 00:03:06,680
leadership roles at Markel.
94
00:03:06,680 --> 00:03:08,240
And today find myself
95
00:03:08,240 --> 00:03:10,240
as the wholesale claims director -
96
00:03:10,240 --> 00:03:12,360
but with additional responsibilities
97
00:03:12,360 --> 00:03:13,200
as the managing director
98
00:03:13,200 --> 00:03:15,000
of international claims.
99
00:03:15,000 --> 00:03:17,400
And you're also the outgoing chair
100
00:03:17,400 --> 00:03:19,320
of the Complex Claims Group
101
00:03:19,320 --> 00:03:21,640
and the deputy chair of the LMA
102
00:03:21,640 --> 00:03:23,960
Claims Committee aren’t you, Chris.
103
00:03:23,960 --> 00:03:26,800
So if your day job wasn't
104
00:03:26,800 --> 00:03:28,120
busy enough,
105
00:03:28,120 --> 00:03:28,600
you've also got
106
00:03:28,600 --> 00:03:30,000
those additional responsibilities.
107
00:03:30,000 --> 00:03:31,480
So what does,
108
00:03:31,480 --> 00:03:34,760
with all of those kind of hats on,
109
00:03:35,120 --> 00:03:38,080
what does a typical day, a typical week
110
00:03:38,080 --> 00:03:39,680
look like for you?
111
00:03:39,680 --> 00:03:40,120
Sure.
112
00:03:40,120 --> 00:03:43,320
So, I mean, my day job really
113
00:03:43,320 --> 00:03:44,680
is the wholesale claims director role.
114
00:03:44,680 --> 00:03:46,880
So that encompasses,
115
00:03:46,880 --> 00:03:50,480
leading a team of 75 claims individuals
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across our London,
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Singapore and Australia platforms.
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And largely
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speaking, that
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results in,
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the kind of
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strategic leadership
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meetings throughout the week,
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representing both
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the claims team in its own
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kind of operational claims function
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but also
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representing international claims
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within the wider business and then
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you mentioned
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the Complex Claims Committee
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and the LMACC, the LMA Claims Committee.
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they are kind of,
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monthly, quarterly type involvements
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engagements,
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but lots of work
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interim, in between those meetings.
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so the Complex Claims Group, the concept
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behind that is, when an event,
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or a situation - could be the
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Russian invasion of Ukraine
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or it could be inflation,
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or perhaps even Covid,
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which impacted, obviously,
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a few years back,
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where it impacts
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multiple sector groups
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and multiple class of business.
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The job of the complex claims
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group is to bring together
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the leads of each of those sectors
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and really address
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kind of, the market response
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for a cross, cross-class event.
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And that could involve,
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a natural catastrophe as well.
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The London Market remains -
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doesn't it, Chris -
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The, you know, the
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the global heart of complex
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insurance,
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underwriting and claims functions
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And I think it's fair to say that
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claims trends tend to mimic
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what's happening in the world around us.
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You touched on
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a couple of
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very significant sociopolitical events
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that are happening
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at the moment in the world.
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But in terms of those most,
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you know,
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the most impactful claims trends
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that you're seeing at the moment,
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and the most complex trends
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that you're seeing,
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Can you elaborate,
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give us a little bit of detail
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around that?
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Yeah, I mean, it's quite a wide
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range a question really,
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you know, from AI to data to,
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kind of the sociopolitical issues
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we've seen emanating
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from Russia's
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invasion of Ukraine,
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but also kind of the
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Israel-Palestine situation.
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and, you know, the impact to,
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to Markel
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within those
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those spheres really has been -
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products are designed for
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those exact situations.
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With Russia Ukraine
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we were largely impacted
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on the War on Land and the Marine
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War side of the fence.
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you know,
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those products
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are well-established products
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which are meant to respond
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to those type of situations.
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The interesting dynamics or complexity
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which comes into it
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which we found, certainly
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with the Russia Ukraine situation,
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was the investigation
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and adjustment of claims
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given you were in a war zone.
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So the use of technology in that
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sphere is very important.
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and a consistent market approach,
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is particularly important.
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We've seen the same given the
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Israeli Hamas situation.
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And that has led
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into seeing vessels targeted
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and detained in the Gulf of Aden
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and, you know,
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some instances of vessels
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being captured by Iran
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and again, the products,
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largely speaking, are designed for
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that exact type of situation,
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which lets us respond
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accordingly to our clients
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at their time of need.
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But there are always kind of intricacies
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and complexities
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with each given situation,
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which need working through.
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And
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while of course,
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you know, we would all wish that
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none of these,
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none of these conflicts
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were happening in the world,
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in terms of the practical,
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you know, the practical management
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and providing the best claims
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service possible and the best support
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possible in these instances in the claims
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handling process
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and in order to provide the best
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possible claims service
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I imagine that
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being able to refer to
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precedent and lessons
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learned and just general experience
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of handling certain type of claims
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is absolutely imperative
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and very, very valuable.
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But we see emerging risks
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coming through all the time, Chris, and,
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new challenges, new
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things like new technologies
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such as generative AI,
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which is very
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topical at the moment, that
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many industries won't
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have had a great deal of experience of
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and we haven't seen
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perhaps many claims in that area.
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So what is the
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you know,
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what tends to be the approach
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to truly emerging and new risks?
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Yeah.
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The geo and socio
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political kind of environment,
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as well as emergence of technology
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definitely bring about new challenges,
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and test our existing products
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or new products.
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and it's fair to say
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that it takes time for a product
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to evolve and or coverage
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to be defined
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or clarity provided
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perhaps on coverage
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as these issues are tested.
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We've seen the emergence
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of deepfake and copyright type claims
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and it will
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absolutely take some time for the
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clarification of exactly how products
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should respond
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and tailoring of those products
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to make them clearer
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for their coverage requirements.
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And when it comes then to data,
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you know,
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I suppose this all
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ultimately comes back to
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good data, having the right type of data,
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but arguably there's
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a bit
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of a proliferation of data
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at the moment and the advent of, again,
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new technologies
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which are generating more ample data,
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there's a focus on better data,
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but is there such a thing
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as too much data?
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And in terms of how claims
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uses that data
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what are some of the pros and cons to it?
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I think it's important to say
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that I'm a huge advocate of data
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as long as it's used
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in the right, for the right reasons.
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there is, to your question,
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there's definitely a danger
315
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of producing too much data.
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I would argue it's where we utilise
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00:11:04,440 --> 00:11:06,360
or who we produce that data
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for is perhaps the danger.
319
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And businesses can
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00:11:10,920 --> 00:11:12,120
fall into the trap of kind
321
00:11:12,120 --> 00:11:14,000
of pumping out more data
322
00:11:14,000 --> 00:11:15,120
or pushing more data
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to make it available for, say,
324
00:11:16,920 --> 00:11:18,160
a claims handler.
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But if
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they don't have
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00:11:19,600 --> 00:11:20,400
the time
328
00:11:20,400 --> 00:11:21,360
to really digest
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that data
330
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and make that data work for them, then
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it's just data.
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It just doesn't help the process
333
00:11:29,760 --> 00:11:30,680
in any shape or form.
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So it's really important
335
00:11:32,280 --> 00:11:33,800
that you
336
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think about what data you're producing
337
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and the reasons you're producing it
338
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and providing the right processes
339
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and procedures
340
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to utilise that data accordingly.
341
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And technology
342
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can definitely help in that space.
343
00:11:47,520 --> 00:11:49,920
So what does good data look like
344
00:11:49,920 --> 00:11:52,920
from a claim handler's perspective?
345
00:11:53,520 --> 00:11:57,680
I think good data needs to be data
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00:11:57,680 --> 00:12:03,000
which is clear and tells the story
347
00:12:03,000 --> 00:12:04,320
of what you're trying
348
00:12:04,320 --> 00:12:08,200
to dissect, effectively.
349
00:12:09,360 --> 00:12:10,920
Just giving
350
00:12:10,920 --> 00:12:15,160
broad data, years’ worth of data,
351
00:12:15,160 --> 00:12:18,600
perhaps, doesn't really provide
352
00:12:18,720 --> 00:12:21,360
a claims handler with much information.
353
00:12:21,360 --> 00:12:23,640
Really what we're looking for,
354
00:12:23,640 --> 00:12:24,720
there is data
355
00:12:24,720 --> 00:12:26,960
which is going to help that handler
356
00:12:26,960 --> 00:12:28,680
adjust that claim
357
00:12:28,680 --> 00:12:32,720
or really identify indicators
358
00:12:32,880 --> 00:12:34,960
which suggest
359
00:12:34,960 --> 00:12:36,960
they should take either a certain strategy
360
00:12:36,960 --> 00:12:38,680
and approach with that claim.
361
00:12:38,680 --> 00:12:41,680
or it stands out for some reason.
362
00:12:41,880 --> 00:12:42,120
you know,
363
00:12:42,120 --> 00:12:44,280
perhaps that's the lifecycle of a claim.
364
00:12:44,280 --> 00:12:46,240
And there's a particular claim
365
00:12:46,240 --> 00:12:47,840
where its, kind of,
366
00:12:47,840 --> 00:12:51,120
life cycle peaks out of the norm.
367
00:12:51,600 --> 00:12:53,160
and that probably
368
00:12:53,160 --> 00:12:54,360
should drive a claims team
369
00:12:54,360 --> 00:12:55,880
to look at that claim,
370
00:12:55,880 --> 00:13:00,600
and assess why or why that has happened.
371
00:13:00,840 --> 00:13:02,040
Now, we've talked
372
00:13:02,040 --> 00:13:02,520
a fair bit
373
00:13:02,520 --> 00:13:05,520
there about data and analytics
374
00:13:06,040 --> 00:13:07,200
and the importance of that, Chris.
375
00:13:07,200 --> 00:13:07,960
Absolutely.
376
00:13:07,960 --> 00:13:11,280
But claims and the insurance market
377
00:13:11,480 --> 00:13:13,000
in general remains
378
00:13:13,000 --> 00:13:15,000
a very people and relationship
379
00:13:15,000 --> 00:13:17,000
driven industry.
380
00:13:17,000 --> 00:13:18,200
And you've got a great team at Markel.
381
00:13:18,200 --> 00:13:19,200
You’ve got a great claims
382
00:13:19,200 --> 00:13:21,040
team reporting in to you.
383
00:13:21,040 --> 00:13:24,320
What in your view is key to what
384
00:13:24,440 --> 00:13:25,240
what first of all,
385
00:13:25,240 --> 00:13:28,240
what makes a good claims handler?
386
00:13:28,760 --> 00:13:31,560
And what do you think is key to retaining
387
00:13:31,560 --> 00:13:33,080
and attracting
388
00:13:33,080 --> 00:13:35,440
top talent in the claims industry?
389
00:13:35,440 --> 00:13:35,640
Yeah.
390
00:13:35,640 --> 00:13:37,520
So I mean, there's many characteristics
391
00:13:37,520 --> 00:13:38,760
to a good claims handler.
392
00:13:38,760 --> 00:13:41,520
And with the advantage
393
00:13:41,520 --> 00:13:43,080
of having quite a large claims
394
00:13:43,080 --> 00:13:45,680
team, I need a broad,
395
00:13:45,680 --> 00:13:47,720
diversification of those,
396
00:13:47,720 --> 00:13:49,560
those attributes.
397
00:13:49,560 --> 00:13:52,320
but definitely at the heart of
398
00:13:52,320 --> 00:13:54,320
a good claims handler in my mind is
399
00:13:54,320 --> 00:13:55,200
is hard working,
400
00:13:55,200 --> 00:13:58,200
an inquisitive kind of approach.
401
00:13:58,560 --> 00:14:00,640
Definitely needs to have those technical
402
00:14:00,640 --> 00:14:02,520
capabilities.
403
00:14:04,560 --> 00:14:07,880
and, you know, question the norm.
404
00:14:08,760 --> 00:14:13,160
I'm a big advocate for
405
00:14:13,160 --> 00:14:15,520
making sure you understand, and question
406
00:14:15,520 --> 00:14:17,360
where you don't.
407
00:14:17,360 --> 00:14:20,440
With regards to
408
00:14:20,920 --> 00:14:24,120
retaining top talent and
409
00:14:24,320 --> 00:14:28,280
attracting top talent, you, you know,
410
00:14:28,880 --> 00:14:30,000
retention of top talent.
411
00:14:30,000 --> 00:14:33,000
I've always kind of said that,
412
00:14:33,680 --> 00:14:36,680
unfortunately, I will lose good staff.
413
00:14:36,680 --> 00:14:40,920
because of a variety of reasons.
414
00:14:41,520 --> 00:14:42,960
you know, whether that be personal
415
00:14:42,960 --> 00:14:44,440
or industry led.
416
00:14:44,440 --> 00:14:46,240
I'd be kidding myself
417
00:14:46,240 --> 00:14:48,480
if I said I wouldn't lose good staff.
418
00:14:48,480 --> 00:14:51,360
Hopefully I retain the vast majority,
419
00:14:51,360 --> 00:14:52,880
but as long as those staff
420
00:14:52,880 --> 00:14:54,840
who I don't want to lose
421
00:14:54,840 --> 00:14:58,320
go out into the market and sing
422
00:14:58,320 --> 00:15:00,560
the praises of Markel or Markel’s
423
00:15:00,560 --> 00:15:01,080
claims team
424
00:15:01,080 --> 00:15:02,080
then I kind of feel
425
00:15:02,080 --> 00:15:03,480
like I've already won,
426
00:15:03,480 --> 00:15:04,560
in that regard.
427
00:15:04,560 --> 00:15:07,400
From an attraction perspective,
428
00:15:08,560 --> 00:15:09,440
we all need
429
00:15:09,440 --> 00:15:12,440
to do more, for
430
00:15:12,560 --> 00:15:15,560
the claims industry specifically.
431
00:15:16,880 --> 00:15:19,080
There are too many people like myself
432
00:15:19,080 --> 00:15:20,040
who have found themselves
433
00:15:20,040 --> 00:15:21,560
falling into the
434
00:15:21,560 --> 00:15:22,720
insurance industry
435
00:15:22,720 --> 00:15:24,360
and falling into claims
436
00:15:24,360 --> 00:15:25,920
and we need to change that dial
437
00:15:25,920 --> 00:15:27,600
turn that dial up to
438
00:15:27,600 --> 00:15:29,720
people wanting to join the industry.
439
00:15:29,720 --> 00:15:31,440
and there's,
440
00:15:31,440 --> 00:15:33,880
you know, huge opportunities,
441
00:15:33,880 --> 00:15:36,480
and great careers to be made
442
00:15:36,480 --> 00:15:39,240
and we need to connect those dots
443
00:15:39,240 --> 00:15:41,000
better to
444
00:15:41,000 --> 00:15:44,040
make universities and school leavers
445
00:15:44,040 --> 00:15:47,000
and so forth want to join the industry.
446
00:15:47,000 --> 00:15:49,120
We need to sell these careers
447
00:15:49,120 --> 00:15:50,400
better. These are.
448
00:15:50,400 --> 00:15:51,400
are careers
449
00:15:51,400 --> 00:15:53,680
we should be singing the praises of.
450
00:15:53,680 --> 00:15:54,600
Absolutely.
451
00:15:54,600 --> 00:15:56,640
I completely agree with you.
452
00:15:56,640 --> 00:15:59,880
And do you think that there is, you know,
453
00:15:59,880 --> 00:16:01,440
is there anything that you identify
454
00:16:01,440 --> 00:16:03,360
as being something that could be done
455
00:16:03,360 --> 00:16:04,840
better or differently
456
00:16:04,840 --> 00:16:10,000
within the London Market to promote,
457
00:16:10,000 --> 00:16:13,400
the, the benefits of a of a career
458
00:16:13,400 --> 00:16:14,280
in insurance?
459
00:16:15,280 --> 00:16:15,840
Yeah,
460
00:16:15,840 --> 00:16:16,720
as I say, I
461
00:16:16,720 --> 00:16:18,680
think I think we all individually
462
00:16:18,680 --> 00:16:20,040
have our responsibilities,
463
00:16:20,040 --> 00:16:21,480
but as a collective marketplace
464
00:16:21,480 --> 00:16:23,440
we have responsibilities as well.
465
00:16:23,440 --> 00:16:25,880
we're a big advocate at
466
00:16:25,880 --> 00:16:26,160
Markel
467
00:16:26,160 --> 00:16:27,520
of
468
00:16:27,520 --> 00:16:30,120
attracting and training our own talent.
469
00:16:30,120 --> 00:16:32,680
So our, claims grad scheme and claims
470
00:16:32,680 --> 00:16:33,360
apprentice scheme
471
00:16:33,360 --> 00:16:34,680
has been extremely successful
472
00:16:34,680 --> 00:16:35,920
in the last few years
473
00:16:35,920 --> 00:16:37,360
and we will continue to drive
474
00:16:37,360 --> 00:16:41,400
that success. As a market place
475
00:16:43,200 --> 00:16:45,920
we need to explain the industry better
476
00:16:45,920 --> 00:16:48,560
people kind of hear ‘claims’
477
00:16:48,560 --> 00:16:50,320
and they think call centre
478
00:16:50,320 --> 00:16:52,040
and that's not what we are.
479
00:16:52,040 --> 00:16:55,240
The LMA actually are doing
480
00:16:55,240 --> 00:16:57,200
a huge amount of work
481
00:16:57,200 --> 00:17:00,200
leveraging their next gen
482
00:17:00,200 --> 00:17:03,280
which is looking at that -
483
00:17:04,160 --> 00:17:07,160
connection points between the career
484
00:17:07,160 --> 00:17:10,680
forums and the insurance industry
485
00:17:11,040 --> 00:17:14,200
and, and really kind of,
486
00:17:15,680 --> 00:17:18,560
explaining the intricacies of the claims
487
00:17:18,560 --> 00:17:21,120
insurance market
488
00:17:21,120 --> 00:17:24,120
as well as
489
00:17:24,200 --> 00:17:26,520
simplifying the terminology
490
00:17:26,520 --> 00:17:27,400
that we use
491
00:17:27,400 --> 00:17:29,040
and explaining that to the layperson
492
00:17:29,040 --> 00:17:30,440
on the street. Insurance
493
00:17:30,440 --> 00:17:32,240
does love an acronym doesn’t it
494
00:17:32,240 --> 00:17:33,800
So that could we do
495
00:17:33,800 --> 00:17:35,960
absolutely need to be mindful of that.
496
00:17:35,960 --> 00:17:37,000
You clearly are a passionate
497
00:17:37,000 --> 00:17:39,960
advocate Chris, of
498
00:17:39,960 --> 00:17:41,240
careers in insurance
499
00:17:41,240 --> 00:17:43,320
and more specifically of careers
500
00:17:43,320 --> 00:17:44,760
within claims,
501
00:17:44,760 --> 00:17:46,200
but what is it for you
502
00:17:46,200 --> 00:17:47,880
personally that still fires
503
00:17:47,880 --> 00:17:49,240
you up, still gets you out of bed
504
00:17:49,240 --> 00:17:50,960
in the morning?
505
00:17:50,960 --> 00:17:51,440
Yeah.
506
00:17:51,440 --> 00:17:52,560
I mean, I'm in the privileged,
507
00:17:52,560 --> 00:17:54,240
privileged position
508
00:17:54,240 --> 00:17:57,560
of being a senior leader
509
00:17:57,560 --> 00:18:00,560
in a business which is looking to grow
510
00:18:01,040 --> 00:18:04,000
and open up new opportunities
511
00:18:04,000 --> 00:18:05,280
which brings challenges
512
00:18:05,280 --> 00:18:08,280
fresh challenges, which need
513
00:18:08,840 --> 00:18:10,440
tackling on a day to day basis,
514
00:18:10,440 --> 00:18:11,920
but strategically thinking
515
00:18:11,920 --> 00:18:13,120
mid and long term.
516
00:18:14,440 --> 00:18:15,520
But I also have
517
00:18:15,520 --> 00:18:16,440
the, the
518
00:18:16,440 --> 00:18:18,480
privilege of leading a 75
519
00:18:18,480 --> 00:18:21,920
strong claims team, who
520
00:18:23,480 --> 00:18:26,280
apply themselves to the role,
521
00:18:26,280 --> 00:18:27,880
passionate about claims
522
00:18:27,880 --> 00:18:29,760
and the service that we provide.
523
00:18:29,760 --> 00:18:32,400
And that's just something
524
00:18:32,400 --> 00:18:35,560
which motivates me in my daily job.
525
00:18:36,720 --> 00:18:37,680
And it's an award
526
00:18:37,680 --> 00:18:38,920
winning claims team as well.
527
00:18:38,920 --> 00:18:39,560
It is yeah
528
00:18:39,560 --> 00:18:42,800
And a recent recipient of the Gracechurch
529
00:18:43,040 --> 00:18:44,200
Marque of Excellence as well.
530
00:18:44,200 --> 00:18:46,080
So congratulations to,
531
00:18:46,080 --> 00:18:47,760
to all involved on that,
532
00:18:47,760 --> 00:18:49,480
which is absolutely brilliant.
533
00:18:49,480 --> 00:18:51,560
We’ve talked a bit about the people,
534
00:18:51,560 --> 00:18:51,720
you know,
535
00:18:51,720 --> 00:18:53,280
the people that make up this team,
536
00:18:53,280 --> 00:18:56,280
the characteristics, the,
537
00:18:56,280 --> 00:18:58,240
the technical abilities that they have.
538
00:18:58,240 --> 00:18:58,560
Chris.
539
00:18:58,560 --> 00:19:00,640
But overall,
540
00:19:00,640 --> 00:19:01,320
what is it
541
00:19:01,320 --> 00:19:04,800
that makes a really great claims service?
542
00:19:06,360 --> 00:19:08,960
Yeah, it's a very topical question
543
00:19:08,960 --> 00:19:11,240
because I would say
544
00:19:11,240 --> 00:19:13,240
claims hasn't changed
545
00:19:13,240 --> 00:19:15,120
massively in the 25 years
546
00:19:15,120 --> 00:19:16,320
I've been in the industry,
547
00:19:16,320 --> 00:19:19,520
obviously, kind of new products emerge,
548
00:19:19,520 --> 00:19:20,880
and new technologies emerge
549
00:19:20,880 --> 00:19:21,720
and that kind of changes
550
00:19:21,720 --> 00:19:23,400
process and, and so forth.
551
00:19:23,400 --> 00:19:25,200
But a claim is still a claim.
552
00:19:25,200 --> 00:19:27,960
What has changed over that time
553
00:19:27,960 --> 00:19:28,920
is the prominence
554
00:19:28,920 --> 00:19:31,120
of a quality claims service.
555
00:19:31,120 --> 00:19:32,280
And really the definition
556
00:19:32,280 --> 00:19:34,800
of what quality means.
557
00:19:34,800 --> 00:19:38,440
The placing broker
558
00:19:38,440 --> 00:19:40,480
environment has definitely
559
00:19:40,480 --> 00:19:41,640
turned the dial
560
00:19:41,640 --> 00:19:44,360
on the importance of a claims service
561
00:19:44,360 --> 00:19:46,120
when they're considering what markets
562
00:19:46,120 --> 00:19:47,800
they wish to place business with
563
00:19:47,800 --> 00:19:48,560
and rightly so,
564
00:19:48,560 --> 00:19:49,320
I think, you know,
565
00:19:49,320 --> 00:19:51,400
that should have happened years ago.
566
00:19:51,400 --> 00:19:52,120
We are,
567
00:19:52,120 --> 00:19:54,400
after all, kind of the products
568
00:19:54,400 --> 00:19:55,800
which we are selling.
569
00:19:55,800 --> 00:19:58,640
So I think the definition of a quality
570
00:19:58,640 --> 00:20:01,080
claims service is very prominent
571
00:20:01,080 --> 00:20:02,080
right now
572
00:20:02,080 --> 00:20:04,160
and that really goes
573
00:20:04,160 --> 00:20:06,200
to the technical expertise
574
00:20:06,200 --> 00:20:06,960
which you touched on
575
00:20:06,960 --> 00:20:10,640
but also the communication element,
576
00:20:10,640 --> 00:20:12,120
the supportive element
577
00:20:12,120 --> 00:20:14,480
to the client and the broker,
578
00:20:14,480 --> 00:20:16,600
to have candid conversations
579
00:20:16,600 --> 00:20:18,400
when those conversations are required
580
00:20:19,960 --> 00:20:20,880
and, you
581
00:20:20,880 --> 00:20:23,200
know, at the heart, speed is still,
582
00:20:23,200 --> 00:20:24,720
of course, still important
583
00:20:24,720 --> 00:20:26,080
but in the wholesale world,
584
00:20:26,080 --> 00:20:26,640
we're talking about
585
00:20:26,640 --> 00:20:28,480
complex risks, largely.
586
00:20:28,480 --> 00:20:31,280
and there's a recognition that that that
587
00:20:31,280 --> 00:20:34,040
those complex claims can take time.
588
00:20:34,040 --> 00:20:37,040
So really
589
00:20:37,320 --> 00:20:39,720
approaching those complex
590
00:20:39,720 --> 00:20:42,240
claims and complex situations
591
00:20:42,240 --> 00:20:43,800
hand in hand with the broker
592
00:20:43,800 --> 00:20:47,080
and the client, are really important
593
00:20:47,080 --> 00:20:48,360
And the proof
594
00:20:48,360 --> 00:20:50,040
is in the pudding in the sense of
595
00:20:50,040 --> 00:20:51,520
we like to use buzzwords
596
00:20:51,520 --> 00:20:53,080
in the insurance industry.
597
00:20:53,080 --> 00:20:54,720
Rightly so,
598
00:20:54,720 --> 00:20:57,960
brokers are challenging those buzzwords
599
00:20:57,960 --> 00:21:00,120
and one can see the evidence
600
00:21:00,120 --> 00:21:01,480
within the claims service.
601
00:21:01,480 --> 00:21:02,760
I don't think anyone would
602
00:21:02,760 --> 00:21:06,280
deny, Chris, that the efficiency,
603
00:21:06,280 --> 00:21:09,280
the speed, the application of technical
604
00:21:09,800 --> 00:21:12,720
ability and ultimately, you know, the
605
00:21:12,720 --> 00:21:14,040
the demonstration
606
00:21:14,040 --> 00:21:16,880
that there is a desire to pay a claim is
607
00:21:16,880 --> 00:21:17,880
absolutely paramount.
608
00:21:19,200 --> 00:21:20,280
However, do
609
00:21:20,280 --> 00:21:22,680
you think it's fair to say that the
610
00:21:22,680 --> 00:21:23,760
the human aspect
611
00:21:23,760 --> 00:21:24,440
you know, the
612
00:21:24,440 --> 00:21:27,440
the person to person consideration
613
00:21:27,600 --> 00:21:29,360
is also a really important
614
00:21:29,360 --> 00:21:32,360
factor given how -
615
00:21:32,760 --> 00:21:34,040
given the kind of the emotions
616
00:21:34,040 --> 00:21:35,520
that can be involved
617
00:21:35,520 --> 00:21:39,160
in a claims experience for a company.
618
00:21:39,840 --> 00:21:41,600
Yeah, I think it's right at the heart
619
00:21:41,600 --> 00:21:44,600
of the service we're providing.
620
00:21:45,320 --> 00:21:47,400
Whether it's an individual
621
00:21:47,400 --> 00:21:48,560
or a business,
622
00:21:48,560 --> 00:21:51,560
it's still a human-led business,
623
00:21:51,840 --> 00:21:55,360
people led business, which, on
624
00:21:55,360 --> 00:21:56,760
both sides,
625
00:21:56,760 --> 00:21:59,120
it is people to people interaction
626
00:21:59,120 --> 00:22:01,040
and the impact that that may have
627
00:22:01,040 --> 00:22:01,880
and the stresses that,
628
00:22:01,880 --> 00:22:05,760
that may cause, are really important
629
00:22:05,960 --> 00:22:07,520
to identify, and dynamics
630
00:22:07,520 --> 00:22:08,600
which need to be dealt
631
00:22:08,600 --> 00:22:10,440
with very sensitively.
632
00:22:10,440 --> 00:22:12,240
So, yeah,
633
00:22:12,240 --> 00:22:13,600
right at the heart of the claims
634
00:22:13,600 --> 00:22:14,800
service really,
635
00:22:14,800 --> 00:22:18,240
really important to understand the impact
636
00:22:18,240 --> 00:22:20,080
of an individual claim
637
00:22:20,080 --> 00:22:21,960
or a series of claims
638
00:22:21,960 --> 00:22:24,680
and how the response to that claim
639
00:22:24,680 --> 00:22:25,800
can impact that
640
00:22:25,800 --> 00:22:27,480
that person at the end of the chain.
641
00:22:27,480 --> 00:22:29,200
And on that note then of,
642
00:22:29,200 --> 00:22:30,840
remembering, you know, the person
643
00:22:30,840 --> 00:22:32,280
behind the behind
644
00:22:32,280 --> 00:22:33,800
the job, behind the title,
645
00:22:33,800 --> 00:22:35,840
you have a life outside of work.
646
00:22:35,840 --> 00:22:39,480
Are there certain passions
647
00:22:39,480 --> 00:22:39,960
- are there certain
648
00:22:39,960 --> 00:22:42,480
things that you would have pursued
649
00:22:42,480 --> 00:22:45,520
were it not for your career in claims?
650
00:22:46,440 --> 00:22:47,320
Yeah, I,
651
00:22:47,320 --> 00:22:50,640
I mean, now I'm in the claims industry.
652
00:22:51,560 --> 00:22:54,560
I feel that my career will remain in
653
00:22:54,560 --> 00:22:56,160
claims, had various
654
00:22:56,160 --> 00:22:57,040
opportunities to move
655
00:22:57,040 --> 00:22:58,400
to the underwriting side of the fence -
656
00:22:58,400 --> 00:23:00,080
wasn't really for me.
657
00:23:00,080 --> 00:23:03,720
And I had a member of my, claims
658
00:23:03,720 --> 00:23:05,160
leadership team charged me recently
659
00:23:05,160 --> 00:23:07,000
around kind of my career aspirations.
660
00:23:07,000 --> 00:23:08,080
And, you know,
661
00:23:08,080 --> 00:23:08,720
the question
662
00:23:08,720 --> 00:23:09,760
kind of led to, well, surely
663
00:23:09,760 --> 00:23:11,920
you want to be a CEO.
664
00:23:11,920 --> 00:23:13,800
and my answer was no.
665
00:23:13,800 --> 00:23:16,800
You know, I, I love the claims space.
666
00:23:16,800 --> 00:23:18,600
And that's where I see my career.
667
00:23:19,640 --> 00:23:20,480
If I hadn't have
668
00:23:20,480 --> 00:23:22,200
found myself, 25 years ago,
669
00:23:22,200 --> 00:23:23,760
kind of falling into insurance
670
00:23:23,760 --> 00:23:26,760
and claims, at the time, I was studying
671
00:23:26,880 --> 00:23:28,560
to look into kind of sports
672
00:23:28,560 --> 00:23:30,640
science and physiotherapy,
673
00:23:30,640 --> 00:23:31,680
that's probably
674
00:23:31,680 --> 00:23:33,000
if I had gone to university
675
00:23:33,000 --> 00:23:36,480
that’s the route I would have taken,
676
00:23:36,480 --> 00:23:37,840
I found myself in the industry
677
00:23:37,840 --> 00:23:39,800
without that further education.
678
00:23:39,800 --> 00:23:41,520
You do see quite a lot of lawyers
679
00:23:41,520 --> 00:23:43,320
in the, in the claims space.
680
00:23:43,320 --> 00:23:44,080
I think
681
00:23:44,080 --> 00:23:45,400
a healthy blend of lawyers
682
00:23:45,400 --> 00:23:48,120
and non-lawyers is the right balance.
683
00:23:48,120 --> 00:23:49,280
I don't have that
684
00:23:49,280 --> 00:23:50,400
that legal background.
685
00:23:50,400 --> 00:23:54,080
So I decided relatively early in my career
686
00:23:54,080 --> 00:23:56,240
decided to train as a mediator.
687
00:23:56,240 --> 00:23:59,400
so, qualified as a mediator,
688
00:23:59,720 --> 00:24:01,120
knowing full
689
00:24:01,120 --> 00:24:02,760
well I wasn't planning
690
00:24:02,760 --> 00:24:04,720
on becoming a mediator
691
00:24:04,720 --> 00:24:07,200
- it's a useful string to
692
00:24:07,200 --> 00:24:09,000
add to your bow. Yeah.
693
00:24:09,000 --> 00:24:10,240
I mean, claims,
694
00:24:10,240 --> 00:24:11,800
claims
695
00:24:11,800 --> 00:24:13,400
about paying valid claims
696
00:24:13,400 --> 00:24:15,800
and paying them efficiently and quickly.
697
00:24:15,800 --> 00:24:17,560
But we will always find ourselves
698
00:24:17,560 --> 00:24:19,440
in those more complex situations
699
00:24:19,440 --> 00:24:21,120
where coverages
700
00:24:21,120 --> 00:24:22,960
perhaps needs more consideration.
701
00:24:22,960 --> 00:24:24,560
and
702
00:24:24,560 --> 00:24:25,960
we will certainly find ourselves in
703
00:24:25,960 --> 00:24:28,320
certainly as a leader of the claims team,
704
00:24:28,320 --> 00:24:29,960
in those negotiation type
705
00:24:29,960 --> 00:24:30,720
scenarios
706
00:24:30,720 --> 00:24:32,640
where I think the skills of the mediator
707
00:24:32,640 --> 00:24:33,840
are really important.
708
00:24:33,840 --> 00:24:34,920
Clearly, you know,
709
00:24:34,920 --> 00:24:37,440
excellent communication skills.
710
00:24:39,240 --> 00:24:40,320
are at the heart of
711
00:24:40,320 --> 00:24:41,520
good mediation, Chris.
712
00:24:41,520 --> 00:24:43,640
So let's put that to the test right now.
713
00:24:43,640 --> 00:24:44,400
This is my final
714
00:24:44,400 --> 00:24:47,400
the final question of the day.
715
00:24:47,640 --> 00:24:49,760
So it's your opportunity
716
00:24:49,760 --> 00:24:52,760
to give your elevator pitch,
717
00:24:52,760 --> 00:24:54,600
you're coming down in the lift
718
00:24:54,600 --> 00:24:56,080
from the 27th floor
719
00:24:56,080 --> 00:24:58,280
of 20 Fenchurch Street.
720
00:24:58,280 --> 00:25:00,760
And the person who is in that lift
721
00:25:00,760 --> 00:25:01,560
with you
722
00:25:01,560 --> 00:25:02,120
is someone
723
00:25:02,120 --> 00:25:04,760
you are seeking to convince that
724
00:25:04,760 --> 00:25:07,560
Markel is the place for you
725
00:25:07,560 --> 00:25:10,560
to place your business based on the value
726
00:25:10,680 --> 00:25:11,760
of the claims,
727
00:25:11,760 --> 00:25:13,000
of the claims
728
00:25:13,000 --> 00:25:15,480
team, the claims proposition.
729
00:25:15,480 --> 00:25:17,080
So
730
00:25:17,080 --> 00:25:18,160
use some of those
731
00:25:18,160 --> 00:25:19,600
communication skills to,
732
00:25:19,600 --> 00:25:22,600
to tell me why Markel
733
00:25:22,800 --> 00:25:23,040
Yeah,
734
00:25:23,040 --> 00:25:25,040
I mean, I would challenge that person
735
00:25:25,040 --> 00:25:27,320
to find a better claims service
736
00:25:27,320 --> 00:25:29,000
in the marketplace.
737
00:25:29,000 --> 00:25:31,960
Markel stands on its own two feet
738
00:25:31,960 --> 00:25:33,920
in the service that we provide.
739
00:25:33,920 --> 00:25:35,720
The communication
740
00:25:35,720 --> 00:25:37,320
is, as you rightly pointed to
741
00:25:37,320 --> 00:25:39,200
there, is critical
742
00:25:39,200 --> 00:25:41,240
to every kind of interaction
743
00:25:41,240 --> 00:25:42,920
within that claims experience.
744
00:25:44,280 --> 00:25:46,640
We understand
745
00:25:46,640 --> 00:25:49,280
the impact on the individual,
746
00:25:49,280 --> 00:25:50,800
and the service
747
00:25:50,800 --> 00:25:53,440
that we provide is vitally important.
748
00:25:53,440 --> 00:25:56,400
and Markel's technical expertise,
749
00:25:56,400 --> 00:25:59,800
which we have, the control framework
750
00:25:59,800 --> 00:26:01,160
we put around to ensure
751
00:26:01,160 --> 00:26:02,400
that those service levels
752
00:26:02,400 --> 00:26:04,240
are absolutely there
753
00:26:04,240 --> 00:26:05,880
and really the supportive
754
00:26:05,880 --> 00:26:07,520
nature of the team
755
00:26:07,520 --> 00:26:08,920
in supporting the broker
756
00:26:08,920 --> 00:26:09,680
and the client through
757
00:26:09,680 --> 00:26:10,560
that process
758
00:26:10,560 --> 00:26:13,480
is paramount to that decision.
759
00:26:13,480 --> 00:26:15,840
I think you've convinced me, Chris.
760
00:26:15,840 --> 00:26:16,840
Certainly.
761
00:26:16,840 --> 00:26:17,520
Listen,
762
00:26:17,520 --> 00:26:18,720
it's been an absolute pleasure
763
00:26:18,720 --> 00:26:20,680
to have you on the podcast today.
764
00:26:20,680 --> 00:26:22,520
Thank you so much for joining us.
765
00:26:22,520 --> 00:26:24,200
you're welcome back any time.
766
00:26:24,200 --> 00:26:25,680
We wish you the very best of luck
767
00:26:25,680 --> 00:26:27,680
in your new expanded role.
768
00:26:27,680 --> 00:26:29,040
Thank you. Thanks.
769
00:26:29,040 --> 00:26:30,760
That's it for today's episode.
770
00:26:30,760 --> 00:26:33,760
Thanks so much for listening.
771
00:26:34,040 --> 00:26:34,480
