Meet Camelot Expert…Pete King, previously Managing Director, Central and Eastern Europe for AIG and now Chief Financial Officer for Press Room and Managing Director of Balkan Xchange. Pete has 20+ years’ experience in the insurance industry, holding various leadership positions Read below to find out more! What is your role now since leaving corporate life? Balkan Xchange – working with companies to develop their proposition for entering new markets and helping them understand global risks. Are you a leader or a member of a Camelot Think Tank? I am a member of the Sustainability Think Tank. It’s interesting to look at it from an insurance perspective. I mentor some sustainable startups - understanding how people are thinking about this topic in different ways really inspires me and makes me realise insurance still has some way to go. Areas of expertise? Global Insurance Programmes Proposition development Entering new markets Highest/proudest/most recognizable previous role? Managing Director, Central and Eastern Europe (CEE) at AIG. How long have you been doing this subject/area? I have 20 years insurance experience, and I have been entering new markets with new strategies for 10 years. Please can you provide some examples of recent projects that you’ve worked on? I have been working with a Croatian startup on their proposition including, fundraising, developing their strategy to help them scale across the markets, and most importantly their go-to-market strategy. Insurtech in CEE is a relatively new concept. There is a lack of disruption from tech and there are still tied agents that dominate with traditional insurers and little innovation. What is your unique selling point? I have a unique combination of London Market experience combined with expertise in launching propositions across Europe, plus connections and the ability to provide local insight. Can you name one professional high point from the last 12 months and what made it so good? I brought someone onboard to help support me - in only six months they have developed exponentially; with no insurance background, they have picked up so much in such a short space of time. We need to talk about…? Investment bias - whether it’s female founders or founders in CEE. Gender bias investment is a BIG thing (I have lots of stats - always happy to share and discuss over coffee!) We see that same bias across CEE. Do you have any words of wisdom? Live life without regrets - take risks. Short and simple. Do you have a favourite quote? Just do it!! Any professional goals for the upcoming year? Make an impact. This comes in many forms - whether through my mentoring of sustainability startups or working with organisations such as Lumus Collective and Women of Impact. Why are you such an asset to the industry & The Camelot Network? I took a risk and spent a lot of my time in the Western Balkans and CEE to build out my own network and create connections from the CEE (a region that has a varied view on the UK) to the UK. I want to use that knowledge to create opportunities for others. Why does your area of expertise need to be spotlighted? The UK is seen as a world leader in the insurance space - it’s so easy to just focus on business development in the UK, but you could be missing out on opportunities. We should ask ourselves - how can we make the most out of the UK being a leader in the insurance space? How can we extend and maximise opportunities by thinking outside of the UK? Most importantly what are 2 or 3 tips or give-aways that you can offer the following types of businesses? Solution providers to the insurance industries Qualify the right prospects that fit your solution Make sure you understand how your solution fits the specific needs of the prospect Insurance businesses - startup/scale ups Stay focused on the execution Keep it simple - don’t over complicate, as successful businesses are those that successfully execute on their strategy Insurance businesses – established Make sure you have the right people who really understand innovation Consider what simple, low-cost tech is out there that could benefit your business. Expensive, large-scale tech projects often do not meet objectives, and can mean lots of effort and money spent without delivery of results. Other consultants You may work on your own but collectively we are a network and we are all in this together. Others will have gone through the highs and lows, so don’t be frightened to share your challenges and ask for advice. Last but not least, how does being a member of The Camelot Network help you/or add value to your business? It gives me a sense of being part of something. I have learnt so much and I get to experience so many different perspectives - I am thankful to be part of such a wonderful community. If you’d like to network with our members, register for our next Camelot Connect

The insurance industry has the tremendous opportunity to be innovative and dynamic in meeting the needs of its customers. Traditionally it is sometimes known for being stable and perhaps a little bit dusty and old fashioned which is exactly why the right innovative project could set your business ahead of the competition in what is a crowded marketplace.   Five Steps to Innovation Being innovative can be as simple as a single idea but developing that idea into something that will be viable takes a little bit of work. Here are five steps to getting the discussions started on innovative projects. 1. Viable Proposition – Being truly innovative doesn’t need to be a big gesture, it just means doing something that your competitors aren’t doing and that your clients want. This is where data analytics is needed to gain insight into both market trends and customer behaviour. This data can be used to guide future products, policies, and innovations. 2. Embrace Technology – We are at an exciting time in regard to technology and you could stay one step ahead of the competition by investing in AI, machine learning or data analytics as a means of streamlining underwriting, speeding up claims processing or making your risk assessment processes more robust. 3. Digital Transformation – Improving online platforms and apps can make it easier for clients to purchase policies, submit claims as well as access up-to-date information on their policies. This as a project could improve the overall customer experience and aid retention. 4. Eco-Friendly Initiatives – With many businesses looking to be more sustainable introducing eco-friendly initiatives could not only be beneficial to the planet and your brand but also for attracting new eco-conscious clients. Such initiatives could be products like green insurance policies which reward certain behaviours. 5. Never Stand Still – In order to remain innovative and ahead of the industry curve it’s important to keep moving. It’s vital to have a team continually assessing performance, market changes, and feedback from clients to maintain your position as market leader. people within your local industry. Through conversation you can get initial impressions as to whether they would be a fit with your business in general or your project in particular. Finding the Right Team No matter where you are on the journey or how small or complex your innovative project may be, having the right team around you can be the difference between a resounding success or a limping failure. There are four primary ways of finding the right skills: · Linked In – Linked In can be a great place for finding skilled industry specialists. Through networking and making connections you can get those vital conversations started. · Networking – Face to face networking can be a great way of meeting skilled people within your local industry. Through conversation you can get initial impressions as to whether they would be a fit with your business in general or your project in particular. · Consultancy Services – Consultancy Services are a popular way of getting a project off the ground as they provide a ready-made team and offer advice on what your company needs to get moving. Unfortunately, you can’t always choose your team or the level of expertise you will be provided which can be challenging. · Camelot Marketplace – This platform brings together insurance professionals each with a minimum of five years C-Suite level experience. This means that you will meet like-minded individuals who have been in the position you are in and offer sound practical advice on the next steps. You could meet the entire skillset required for you to get your new project off the ground all in one place. And if you’re all about innovation, more than 33% of our members are Innovation Experts, and 30% of our experts are skilled in Customer Experience. Just the skillsets you need. If you are ready to get your innovative project off the ground and have identified the skills gaps within your team, then contact Camelot Marketplace . Take the risk out of engaging the skillsets you need for innovation by letting us put you in touch with the people you need for your innovative project to be a success.

All modern businesses like to present as dynamic, cutting edge and innovative in their branding and marketing but this can be a difficult balance to strike with the UK insurance industry. An old industry, it is steeped in tradition and does things the “way they have always been done,” as well as being controlled by compliance and legislation, but this does not mean that it is impossible to be innovative. In fact, this very conservative image is the very reason innovation is important. It’s time to make insurance appealing. Not only would having innovative ideas give your business a competitive edge, and give you market expansion, but it would also improve the customer experience, making them want to engage with you rather than it being a tedious necessity. More importantly, a company willing to be innovative is more likely to be adaptable to changing markets and changing trends which will give you long-term viability. “Innovation enables your business to continue to be relevant to your customers; it must future-proof your organisation, creating a successful and sustainable future.” So what does it mean to be innovative? In such a heavily regulated industry this doesn’t necessarily mean throwing out the rule book and starting from scratch. It means embracing new ideas which will streamline the business and make it more appealing to potential clients. Data Analytics – One clear path to providing innovations which appeal to your potential clients is through careful data analytics to gain insight not only into market trends but also into customer behaviour. This can then be used to guide future products, policies and innovations. Embrace Technology – By investing in cutting-edge technology, AI, machine learning and data analytics you can streamline underwriting, speed up claims processing and have more robust risk assessment processes. Digital Experience – By improving online platforms and apps you can enhance the customer experience, and make it easier for clients to purchase policies, submit claims as well as access up-to-date information on their policies. All potentially outside the traditional 9-5 constraints. Eco-Friendly Initiatives – In today’s changing climate clients are more discerning about who they do business with, so make your business more appealing by developing products which cater to environmentally friendly solutions such as green insurance policies which reward certain behaviours. Employee Engagement – New ideas will never be successful without having the full team on board and this means ensuring staff are fully trained in the new innovations and initiatives, understand the value and are encouraged to share their concerns. Never Stand Still – The key element in being a leader in your industry is to never stand still. Continuously assess performance, market changes, and feedback from clients, and make adjustments to the business to keep ahead of the curve. Breaking the traditions of an age-old industry is not an overnight project, and in order to remain innovative it is also not a one-and-done activity. However, consistency and encouraging discussion of fresh ideas can ensure your business can continue to grow in leaps and bounds. However, making such changes is not something that can be done in isolation and that is why Camelot Marketplace is here to help you get started. In our next much anticipated Innovation Hour hosted by Harvey Wade, on September 29, we bring you Dr Ralph Kerle who will motivate you as well as provide some great starting points. Dr Kerle is a Creative Leadership Coach, a Creativity and Innovation Behavioural Strategist and an Artist and will be discussing the role of creativity in insurance today, as well as the U Theory which is a way for people to think about a blueprint for creative thinking. We also have a network of experts, partners, insurers, brokers and insurtechs who are specialists in innovative ideas and who would be able to offer you the advice you need to get started. To find out more head over to the .

In the modern world, it is easy to become complacent and to do things the way they have always been done, and this seems to apply even more to the very traditional, tightly regulated insurance industry. But, if you want your insurance company to stay ahead of the curve, and to smash your competition you need to be innovative and imaginative. Being innovative doesn’t have to be a major overhaul of your business, it could be the introduction of an app or some new tech that will make the customer experience easier, or it could be to introduce eco-friendly initiatives in order to attract and retain a new group of clients. However, once the viability analysis, market research, budget, and skills gap analysis have been carried out it’s up to you to ensure the right skills, expertise, and advice are available from the initiation of the project through to the launch. The process of outsourcing should be well-planned and managed in order to assure you partner with the right people whose goals and values align with your own. There are some key steps to ensuring you identify the right people to include for the project to be successful. 1 – Define the Objectives Knowing you need to outsource certain skills is just the first step, as this leads to defining the specific outsourcing objectives; are you outsourcing an entire function like customer support or claims processing or is it a project-based function like data analysis or software development which will have a short-term life-span? 2– Collaborations Some projects may be better served by building partnerships with insurtech start-ups, technology distributors, or data providers which can boost your team’s skills and give the project a head start. Collaborations with industry associations or research institutions can also add extra weight and skill to your project. 3 - Referrals from Industry Peers The theory of six degrees of separation is an important one when trying to make connections with the skills and partners you need, as it is likely that someone in your network can make referrals for just the right people. Speak with industry peers, especially those who are working through or have completed a similar project. This can be a valuable means of meeting who you need just when you need them. 4 – Communities The other option is to find a community like the Camelot Marketplace which specialises in the insurance industry and can introduce you to exactly the people you need, with the desired skills without the element of chance associated with traditional networking. When looking to work with others and outsource certain skills, getting started can feel like looking for a needle in a haystack but that is why your first collaboration should be with Camelot Marketplace. We love innovative insurance industry ideas and have a network of just the right people who can provide you with the help, guidance, and skills you need to get started from experts, partners, brokers, and insurtech specialists. Our members have been in your position and come out the other side and are perfectly placed to partner with you.

This article is offered to Camelot members to help you partner with tech/solution providers who are submitting a response to an RFI/P. It is based on input from David Clamp and then this was built on by other Camelot members. All feedback is very welcome - as usual. Context: The vendor typically thinks this is a fairly easy task and underestimates the effort and time needed and also thinks they can "cookie-cutter" the last one to save time. The vendor does not typically do their homework and certainly does not read the questions Due to pressing timelines, small typos or schematic errors are introduced at the final stages RFPs are often submitted late, with additional requested documents submitted even later Vendors never want to say "no" to a requirement Vendors often make comments in initial business development meetings that may be hard to deliver on (i.e. we can build a new product in X weeks, we can integrate into your platform, etc.). Need to be careful not to oversell as you may be asked to contract to your promises further down the process. Buyers often have unrealistic timelines (the world does not actually centre around them) and they often issue the RFP later than they had planned, but with no change to the "reply by" date. Buyers often have a predetermined scorecard/rating system, run by their Procurement dept (depending on the size of the deal). Buyers have internal governance guidelines to follow and many will have a defined risk appetite Larger organisations can be expensive to deal with (contracting, financial stability, due diligence requirements). On a recent call to a major insurer, their digital director advised me that their governance has the potential to ‘bankrupt smaller businesses and start-ups’. Worth considering as a start-up if you are looking to engage with larger companies. Best practice: 1. Strategically: Has the vendor actually worked out what they are selling to their target market i.e. Is this the right opportunity for the vendor or are they just going for anything they can ? Makes a big difference How much do they know about the buying company, the individual's, the rationale/business case, the selection criteria - have they done their homework ? (Often I have found a sales person is overly optimistic and sometimes ill informed) Are they making false or "made up" assumptions (consciously or subconsciously) ? Are the strategies of the Buyer and Vendor aligned? Is there an organisational ‘fit’? Who are your major competitors? What makes your service different? Who do you know within the Vendor? Reach out and see if they are prepared to give you additional context (assuming the process doesn’t preclude you from doing so) 2. Process: Fully understand the rules/conditions of the RFP - e.g. You may no longer be able to contact anyone else from the prospect company apart from one person from the Procurement department Agree upfront who are the stakeholders needed to be involved, especially those needing to sign off the final version of the RFP before it is submitted. Allow sufficient time to construct the response - especially for the last minute "Cookie Cutter" pre-prepared elements of the response are fine and do save time - as long as they are checked that they are correct, answer the question and do not need amending – make sure to remove any references to companies from where you have last used the pre-prepared elements – Check that you haven’t got any marked revisions hidden in the view, I remember receiving one document where the name of the last company they used the section for was still all over the document when you selected the ‘show all revisions’ view. Use the stated naming conventions - e.g. file names, formats of documents Always allow plenty of time for QA activities, rework, stakeholder approvals etc.. Always plan to submit the response early (at least 2 days in advance) and never submit it later than the deadline Put yourself in the position of the buyer and consider what you think their objections may be and think about how you can overcome them throughout your proposal. Focus on positive comments and turn points around to provide positive context (e.g. 80% of customers were satisfied v 20% of customers were unhappy) If you have the resources, bring in someone external to act as an independent QA who can put themselves into the position of the buyer. 3. Content: Answer the question - not what you think the question is - make no false assumptions. But show where you can provide added value. Be specific - less waffle, more details/fact-based responses focused on positive outcomes Use plenty of pictures/graphics/schematics - a picture tells a thousand words - and looks much better than a page of text If, like me, you are not good with pictures, use a specialist designer to help improve how your response looks. 4. Look and Feel: The first page "Exec Summary" must completely nail it - first impressions count so much here. Make sure it is short, sharp, in their language, it says how much you are committed to this and excited by it, you understand their challenge "We get you" etc... Use the prospect's language and naming conventions (for example, I won a marine RFP which included subtle use of marine words, like "navigating the future", "anchoring the business case" etc..) Make sure the covering letter is not rushed at the end....first impressions It is key to give the impression (at least) that the RFP response has been written from scratch, personalised and fully tailored to this opportunity Absolutely no spelling mistakes, different heading formats, odd formatting issues, bad wording - at all (especially in excel sheets where spelling correction is not automatic) Promptly checking that the response has been received ok, any issues, confirming next steps, offering to explain anything that might be unclear etc.. always goes down well (i.e. don't fire and forget) ____________________________________________

An Amazing Way to Deal With Change In Your Work and In Your Life By Dr. Spencer Johnson The Who Moved My Cheese? (20th-anniversary edition) book cover .Credit: Vermilion. The book in three words? Powerful - Playful - Profound What is it about? International bestselling author, Dr. Spencer Johnson’s Who Moved My Cheese? is a short read that packs a punch. Smart principles are written in a beautifully simple and humorous way, eradicating confusion and allowing for light-hearted but life-changing enlightenment. The story follows four distinctive characters that scavenge through a maze for cheese. This ‘cheese’ represents what each character views as success. During the parable, we witness how the characters react differently to the cheese-related incidents that take place. Seeing ourselves in these characters provides many moments for reflection on how we approach change. So, who did move my cheese? Despite being the title question, the book teaches us that, ‘who moved my cheese?’ is not an important question to be focusing on when change comes about. Johnson directly lays out that we should focus on who we want to be in moments of change rather than finding who we can blame for ‘moving our cheese’. We are reminded that we shouldn’t take ourselves too seriously and embrace what change can bring. Who is this book for? Who Moved My Cheese? has a very wide appeal because it deals with one of life’s inescapable certainties - change. The values of the parable can be applied to many situations - so if you are a human who has to face changes (spoiler alert - you are) it is worth a read. What do members of The Camelot Network think? “A fantastic book introduced to me many years ago. It’s a quick and simple read but the power of the message about how we approach change is incredibly strong” - Marisa Murton, Director and Principal Data Scientist of Solvlab- Analytics “Who Moved My Cheese? uses the metaphor of collecting cheese to illustrate the challenges of changing from the “norm” and the reaction of people with different ways of thinking. It explores ways of recognising, understanding, and embracing change in all aspects of your life. This is a good book for those faced with external change, it’s short, fun, and understandable, but may lack depth for experienced change practitioners.” - James Downes, Founder and CEO of House of Insurtech To sum it up: The simplicity of the story and the messages it contains, leave you feeling refreshed and ready for whatever life has to throw at you. So what are you waiting for? Go give it a read! Want to know more? Go to http://spencerjohnson.com/books/ Or contact me at chloecopywriting@gmail.com Written by Chloe Allison

A Little Story About A Powerful Business Idea By Bob Burg and John David Mann The GO-GIVER book cove. Credit: Portfolio. The book in three words? Authentic - Unforgettable - Inspiring What is it about? Written by popular conference speaker, Bob Burg, and successful entrepreneur, John David Mann, THE GO-GIVER, teaches the cruciality of giving in the form of a fictional story. We are taken on a journey with Joe, a go-getter, as he is guided by Pindar, a successful businessman, through the ‘Five Laws of Stratospheric Success’, meeting interesting characters and seeing the ‘Five Laws’ in action along the way. What are the ‘Five Laws of Stratospheric Success’? 1) The Law of Value 2) The Law of Compensation 3) The Law of Influence 4) The Law of Authenticity 5) The Law of Receptivity The GO-GIVER not only tells us about these laws but teaches them through examples in the narrative. The result? Lasting impact that enables you to enrich your own and others’ lives. Who is this book for? Honestly, THE GO-GIVER is a gift to everyone because of its universal teachings. No matter your age or if you are in the business world or not, this book will provide you with lessons you can use at work and in other areas of your life. What do members of The Camelot Network think? “A book I wish I’d read at the start of my career. A page-turner that gently imparts knowledge in ways that mentally and emotionally connect. There are some great characters in this book, I find myself looking out for them in the people I meet. I also recommend the other books in the series” - Mark Simpson, Founder and Director of Resilient Changing "Very simple but incredibly powerful business idea - told in a short story format, that turns the classic corporate model on its head. This simple idea encapsulates the founding ethos of the Camelot Network - Helping others first - and the world sure does have a funny way of going around in circles. An excellent, short but very impactful read." - David Clamp, Founder and Managing Director of Merlin Digital Consulting and The Camelot Network To sum it up: THE GO-GIVER is a life-altering book with an important message on the power of giving. Want to know more? Go to https://thegogiver.com/ Or contact me at chloecopywriting@gmail.com Written by Chloe Allison

In a real time economy, technology failure means business failure. In uncertain times it can lead to ruin. During these times of uncertainty it is more crucial than ever for organisations to use the very latest technology to underpin the safety and security of their business. Setting a protective technology wrap around business resilience and getting this firmly entwined into your business DNA as a joined up approach is critical. Companies will need to place IT at the very centre of their Operational Resilience Planning. The purpose of this article is to take you through some of the key technology ingredients that should feed into resilience planning. Some of these ingredients are just plain obvious, but others have moved into the spotlight as a result of our remote new world. Key considerations for successful Operational Resilience Planning should include: 1. Knowing your IT estate inside out- Mapping what you have, knowing your outsourced support agreements inside out and being ahead of the game. Knowing for example those applications that are end of life and need decommissioning, or those that require upgrades to remain safe, simple and current is key. Many legacy estates become fragile over time, particularly when there is a lack of proper integration. This can lead to security issues. Let's face it mopping up the sins of the past is pretty dull compared to growing the brilliance of the future. Remediation needs to be tackled head on to remain secure and current. The situation we are in now may be putting additional strain on those firms who made recent acquisitions, but hadn't got round to integrating back office systems. Whilst it's not easy trying to manage this remotely, now is the time to consider making those integrations happen. 2. Having a tried and tested Disaster Recovery Plan- Technology keeps businesses running and ensures organisations return to a steady state once disruption ends. Whether you have traditional or Cloud based, building DR into your planning is crucial to ensure your business returns to steady state. End to end Software can help with this and often includes Business Impact Analysis, Risk Assessments, DR testing and even automated notification as an early warning system. What is crucial is this is managed holistically. There is no point just IT practising this in isolation and the business having the assurance everything's covered. Everyone is in this together. All business areas must play their part. 3. Ensuring Security is everything: We all cringe when Social Media headlines a company under attack. We all breathe a sigh of relief that it hasn't happened to us. Financial Services for example are a desirable target for cybercriminals due to the vast amounts of personal and commercially sensitive data it holds. It is an amazing fact that more data has been produced in the past two years than in the entire history of the human race. Keeping this data secure will only become more challenging as businesses move away from offline, back office functions to leverage digital channels that require an automated, speedy, round the clock customer offering. The key elements of your Cyber Security model such as data loss software, privileged access management, network containment and overall employee awareness of governance all need to be carefully considered and included. As social media continues to grow security will continue to become a hallmark of your business. Planning and replanning the “what ifs” needs to be at the forefront of your planning. 4. Building the right Infrastructure- The IT Resilience Plan will be used to protect data and ensure companies can provide confidence to their customers. Backup and recovery solutions will be even more crucial. Having one support software that you know really well, with your people having “least privileges” is much more effective than having to manage this across multiple providers. 5. Remote really doesn’t mean being cut off- Prior to COVID-19 less than a 1/5 of the UK workforce had the flexibility in place to work from home. Although confidence in technology to maximise productively remotely has been on the ascendant, only a mere 27% of staff had been fully briefed on HOW to work from home. If businesses continue to encourage this as a regular long term option, it is expected there could see a whopping 85% increase in overall productivity across the business as a direct result. So having the right remote collaboration suite of tools that compliment your estate and your customers, with the right anti virus devices, the right end point security wrap, encryption, phishing, version controlled, audited etc are all crucial in terms of planning. These together with softer training in software your teams actually want to use and maintaining overall trust are key ingredients to make planning a long term success. 6. Ensuring everyone is involved- It is imperative planning is led from the top with everyone in the company, whether internal or outsources are playing their part. The Board must lead & own operational resilience, with the right maturity assessments and the right levels of tolerance and risk reported on a regular basis. In IT for example this will be outlined in The Policy Framework. However it is crucial each department carries out their own planning, not just IT and there is a clearly defined holistic overview. It is surprising how little Operations Resilience Planning makes it up to Board Level as part of the risk/ ORSA discussion. How many companies just assign it with the controls as a simple traffic light reporting all is Green? Now is the perfect time to take a good look at what went wrong (if anything) on the IT side and to strengthen or fix existing controls. This includes adding new controls where things didn’t go smoothly and to provide the Board of Directors (and regulators) extra visibility and the confidence the estate is fit for purpose and operations are being managed appropriately. Let's face it no one could have predicted Covid-19. Thinking outside the box at future threats should be regular and reported. Summary Planning may sound daunting but making your business automatically resilient shouldn’t be overwhelming. The best way is to do this incrementally, knowing what you can achieve and by when. Dividing your approach into manageable bite sized chunks is key. It’s completely achievable running your approach simultaneously alongside BAU. Having a well-rehearsed business continuity plan at the centre of your operations will compliment ensuring your business is ready to face any crisis head on. It will adapt as the success story of the future. And running this planning across the business whether inward or with your Outsourced partners at all stakeholder levels is crucial. "Resilience is accepting your new reality, even if it's less good than the one you had before. You can fight it, you can do nothing but scream about what you've lost, or you can accept that and try to put together something that's good". Drop me a message if you would like to discuss ways to ensure technology resilience and remote working sits at the very centre of your Operating Model.

What is IR35? HMRC is changing the rules affecting how businesses (i.e. your clients) engage with contractors like you. Onus (and risk) is shifting to the client rather than the contractor – if they get it wrong, they (rather than you) are liable for tax and NI that would/should have been paid. It will now be your clients’ choice HMRC will now come to the employer UK only/UK employers only HMRC will be testing to see whether you fall inside of the payroll, or outside of it There are tools you can use But, the people setting the policy are not relying on the source, so some of these tools can be complicated Here are some questions you might want to test yourself with: Is the job you’re doing for your client, could you do it on a temporary contract? Is there a mutuality obligation? Who’s direction are you working under? Right to substitution, is the contract personal to you? Do you have a degree of control over how you work? Is the client providing you with any equipment? If yes, this may suggest an employment relationship Do you take financial risk? Are you in business on your own account? Does the way you operate suggest you’re running a business? How are you paid? Do you work with other clients? Are you entitled to benefits that may come across as Employee-type benefits There are no firm rules Position statement How the employer decides You have the right to object Look at factors and how you work in practice to put together a case There is no template contract It changes every time But, look for it to mirror the obligations that you’re giving to your client But HMRC will be looking for personal service companies A limited company that’s made up of just you Going forward you might need to find clients that will want to work with you, such as smaller clients Bigger firms may have more procurement Also, might have a lot more hoops to jump through You might also want to think about how you frame yourself, how do you engage with clients? Some of the Key QuestionsAnswers from Andy and Kim Will you have to pay NI and tax?Yes, if you’re under there payroll What’s the actual difference between being an employee and going within the IR35? Contract of employment Would be very different to your contract as an independent contractor Some contracts prevent you from working for multiple organisations, will this stop me from spreading my time across different clients? It will depend firm by firm and you will have to check over the contractCan I get IR35 insurance?The risk is now with the employer, so it will fall on them. But yes, you can get insurance. What about if I get an office?No, this wouldn’t count/wouldn’t be enoughIf it’s a small entity, will you be liable?You won't be liable because you won’t be subjected to it, as you’re outside the catchment Key outputs from the workshop Tools: Use of various available assessment tools (such as CEST and Contractorcalculator.co.uk ) Right of Substitution - Associate model: Sharing experiences and potentially wording. A pooling approach to help with the right of substitution and ability to substitute another Camelot member. Camelot helping each other in terms of substitution - what could this look like (annual pre-vetting, pre-validation/endorsement/accreditation, 'yes this person does work as an independent consultant' ? - Build on Mark Simpson's successful "Associates" model (mirroring the contract you have in place with the client with the contract you put in place with the associate, plus any necessary due diligence checks) Pre-vetting done by Camelot? DBS checks, employment checks etc. Then every year we would have people that are accredited and ready to go. Camelot Hit Squad: How to easily form a Camelot HIT squad to pitch and then deliver a specific project for a client LinkedIn: Camelot members including membership of Camelot on their LinkedIn profiles (to help provide evidence) Contract templates: A template contract (or set of contracts) available for members Insurance: Availability of suitable insurance against IR35 (e.g. Kingsbridge Insurance ) - Bulk discount for Camelot members ? IR35 intel page: for the collation and sharing best practices - setting up a discourse group to give the space for discussion and sharing of documents/best practice for latest changes/trends and hints and tips (Discourse or the Camelot Resource Bank ? Procurement Process: Join forces in helping each other go through a client's arduous procurement process (hints and tips guides, templates etc..) - Could Camelot even be put on their PSL list ? Camleot taking a leadership role: Friendly corporate organisations that would validate the camelot members as to how they are using their contracts and also share awareness and help in educating clients/prospects, could/should Camelot take on the role of lobbyist/campaigner ? Useful links and suggestions: Kingsbridge CEST tool - https://www.kingsbridge.co.uk/blog/contractors/ir35/5-simple-tips-for-how-contractors-can-prepare-for-ir35.html https://www.netlawman.co.uk/ia/ir35 https://www.qdoscontractor.com/ https://www.contractorcalculator.co.uk/ https://www.kingsbridge.co.uk/ir35_and_legal.html https://www.gov.uk/guidance/check-employment-status-for-tax Some thoughts from our Camelot Members: Gary Burke A brief explanation of the key factors of IR35/off-payroll: There are some key things that a company needs to do primarily around the ‘part and parcel’ aspect of IR35. This element looks at whether someone is treated by the company in the same way as employees are treated, for example: Having a staff pass that looks the same as that of an employee (they should have a 'contractor’ / visitor pass) Being invited to staff events (summer & xmas parties) ie don't go! Being allocated a job title that is also used on org charts e.g. programme manager (rather than being identified as a consultant) Having line-management responsibilities is a no-no ie appraisals etc (managing a programme and programme resources is different) However, ‘part and parcel’ is a lesser aspect of IR35, the key determinants from an HMRC perspective being Control, Substitution and Mutuality of Obligation (these are known as the principal ‘tests of employment’): Control: what degree of control does the client have over what, how, when and where the worker completes the work? Substitution: is the personal service by the worker required, or can the worker send a substitute in their place? Mutuality of obligation: mutuality of obligation is a concept where the employer is obliged to offer work, and the worker is obligated to accept it. Employees have this, consultants (or anyone on a contract basis) usually doesn't. Court cases have focused heavily on this aspect. Also, if it's a BAU role it will be inside IR35. Project based work, where there are outcomes and objectives to deliver, has a better chance of being outside IR35. It's important to be able to show that you operate as a consultant i.e. marketing yourself, multiple (or trying to get) clients, insurances, websites etc. Fyi, an IR35 assessment using a proper tool (not CEST). contractcalculator.co.uk gives a thorough explanation of each area... it's algorithm is based on results from actual court cases etc. This one is based on an agency contract for my RSA contract. Contracts (find in folder) that I had drafted in 2019 that are 'IR35 compliant'. There are two flavours: between an end-client and the company providing services i.e. the independent consultant's limited company (RFH in my case) [...providing services to client] between e.g. RFH and associates ie people that I would engage to work on assignments that needed additional resource etc. [...providing services TO consultancy] I had these drawn up by a solicitor who works in the IR35 space so they should be appropriate, however, they do need to be updated to reflect changes since 2019 e.g. working time directive as now doesn't apply (there may be other minor tweaks). ______________________________________

At some point, hopefully soon, the Corona Virus pandemic will start to become a thing of the past: the mobility restrictions will start to be lifted and economic and social activities will start to return to normal. The experience of China suggests that this would be a process in its own right and that reactivating disrupted supply chains will not take place overnight. The strength of the shock to economic conditions is such that commentators are also suggesting that the return to normal may well include a re-definition of what is normal. One of the features of Enterprise Risk Management (ERM) Frameworks is learning from events, in this case, with a view to enhance operational resilience. At the same time, UK regulators are consulting on their proposals for operational resilience, which also include learning from events.1 Learning lessons would also support the exploration of the impact on existing business conditions and whether a new “normal” is emerging to drive business strategy. We believe that the process of learning lessons does not need to wait for the full resolution of the pandemic. This note sets out our thoughts on the process. There are three aspects of the lessons learnt process: • a stock-take of what was in place in terms of operational resilience; • a consideration of what worked / did not work well; and • the identification of potential impact on future operating conditions. We have developed a structured questionnaire to support a conversation that covers these points. We would be interested to discuss this with industry contacts in financial services over a conference call which would last no more than 90 mins. The intended benefit of this process for participants would be: • the identification of specific measures that can be adopted to enhance resilience for future events; • firming up the understanding of the potential changes to the business environment that should be considered to ensure future business strategy remains sustainable. We offer a write up of the discussion which could contribute to the formalisation of an internal lessons-learnt exercise. The views would also feed into a paper with industry lessons (without attribution) which we will share with those that have contributed to the process. We envisage the paper helping with the recovery process and the implementation of regulatory requirements on operational resilience. 6 April 2020

What is Blockchain? Blockchain is a technology platform, the features and how it works varies between platforms. ● Blockchains can be a shared source of information ● There are many different blockchain protocols ● There’s no ‘central authority’ needed ○ Meaning that there is no single party that controls the data unilaterally ● The information can be trusted ○ There’s a consensus/agreement ○ The data can’t be changed ○ Cryptography is built in ensuring privacy ○ Has provision for ‘smart contracts’ What Blockchain is not ● There are a lot of misconceptions around blockchain technology ● What blockchain is not? ○ Bitcoin is an example of a use of a blockchain but bitcoin is not itself ‘blockchain’ Types of Blockchain ● Several types of blockchain platforms ○ Public/Unpermissioned - anyone can join Decentralised ○ Data can’t be changed ■ Currencies ■ Betting ■ Video gaming ● Supply chain ● Government financial records ● Corporate earning statements ○ Private/Permissioned - restrictions on who is allowed to participate ○ Use of identity management ■ Voting ■ Voting records ■ Whistleblower ● Insurance/reinsurance ● National defence ● Tax returns ● For the purpose of insurance most are using private and permissioned blockchain Distributed Ledger Technology (DLT) ● “Is a glorified information messaging system” ● Information drives ○ Trade ○ Commerce ○ Government ● All about streamlining process ● Have to be using DLT for a solution ● Manage expectations The terms Blockchain and Distributed Ledger Technology are often used synonymously although they’re not quite the same thing but are intrinsically linked. Distributed Ledger Technology describes how parties have identical copies of a database of transactions. Blockchain is the software protocol used by the network of computers that ensures that the data is synchronised, secured and immutable. Examples of it’s uses ● Digital Asset Register ● Microinsurance ● Medical Prescriptions ● Death certificates ● Trade finance ● Supply chain ● Food safety ● Fashion ● Governance ○ Voting systems ○ Land registry ○ Customs control ○ Identity and e-signature ○ Benefit payment ○ Charitable giving ○ Taxation ○ Digital legal advice It’s all about privacy, transparency, speed, quality and trust. Examples of live production blockchain implementations in insurance: 1. Blocksure – Renters insurance (Covea) , Indonesia group policy, Japanese property 2. B3I – Reinsurance – Unity – Global Risk Transfer 3. ChainThat – Bermuda Reinsurance 4. Insurewave – MS-Amlin, WTW, XL Catlin – Marine Hull 5. Etherisc – AoN, Flight Delay, Crop Protection 6. Immediate (Singapore) – “Smart Insurance platform” 7. Skyline Partners (London) - index-based parametric insurance 8. iChain (Tokyo) – Risk placement platform 9. Piprate (Ireland) – Insurance data 10. VouchForMe – Motor 11. Teambrella – p2p mutual small item insurance 12. Nexus Mutual – p2p mutual smart contract cover 13. Poleecy (Italy) – micro insurance 14. Medishares/MutualDAO – p2p DAO DeFi insurance 15. Safeshare – sharer insurance 16. Surety Bond (Zurich Insurance) – Benelux 17. Evident - Gig proof of insurance – Marsh 18. Critical Illness – Huatai P+C 19. Xiang Hu Bao – Medical Claims Useful links and resources: Miro Board on cross-industry DLT projects : https://miro.com/app/board/o9J_kolgjJE=/ Insureblocks podcasts (lots of listening material on DLT use, predominantly in insurance) https://insureblocks.com/ Blockchain Explained (CII) https://www.cii.co.uk/learning-index/articles/blockchain-explained/43588

A Leader’s Guide To The Management Of Change At Scale By Jane Logie The Purposeful People book cover. Credit: KMD Books The book in three words? Practical - Advantageous - Clear What is it about? Written by Transformation Specialist and Camelot’s own, Jane Logie, Getting Transformation Right is an unmatched guide for making essential business changes. The book identifies and gives you an understanding of the how’s and what’s of change that is key to business survival and success . Getting Transformation Right, shows you the key skills and abilities required for making successful change and teaches you how to encompass them. You are guided on a journey through specific capability areas where information is detailed but broken down into bite-size chunks. Filled with illustrative examples, the useful points that are made are digestible and clear. Throughout the reading experience, your knowledge can gradually build and build productively, resulting in a strong understanding of transformation by the end. How do you get transformation right? It’s clear from the book that there isn’t one simple answer to getting transformation right. But, as Logie shows us, there are many skills and abilities to employ to truly get transformation right. There are skills needed such as utilising the power of a team, thinking strategically, and embedding coaching, amongst many more. Do not fear though! There are handy checklists at the end of each chapter that you can use as a guide for whatever business transformation you are leading! Who is this book for? Getting Transformation Right is ideal for leaders, especially business leaders. The book will be useful to a leader working in any industry and any size company. Terms, strategies, and skills are explained quickly but clearly, and you are guaranteed to learn something new. So, no matter how long you have been a business leader this book will be a great addition to your reading list. A moment with the author: “It's sad to say but the majority of transformation programmes fail to meet executive expectations. Over the last 30 years, I have helped many organisations to deliver large scale transformational change and had the opportunity to work with some of the best people in the change profession and I believe that we have enough insight into the common causes of failure to help others to avoid making the same costly mistakes.” “I decided to write Getting Transformation Right because I wanted to help busy executives that are engaged in transformation activities to be more successful. If my book can help just one person to get set up for success and deliver a great business outcome without failure then I will be happy. " - Jane Logie, Author of Getting Transformation Right and Transformation Specialist To sum it up: Getting Transformation Right, is an invaluably useful read for business leaders. It will equip you with a thorough understanding of what is required to bring about great change and how to deliver that transformation as well as avoid errors. You’ll come out of the book ready to make transformation happen! Want to know more? Contact the author at jane.e.logie@icloud.com Or buy the book at https://w ww.amazon.co.uk/Getting-Transformation-Right-leaders-management-ebook/dp/B0 99SDRLSL/ Or contact me at chloecopywriting@gmail.com Written by Chloe Allison