What is your role since leaving corporate life? A former multi-year C-Suite operator in a £350m UK insurtech, as Simon Hughes Advisory Ltd, I’m passionate about helping insurtech start-ups navigate the UKGI space and turn their ideas into money. I’m equally dedicated to helping established insurance companies fix the operational problems they face that are getting in the way of growth. I do this through consultancy, mentoring and non-exec engagements. Have you been a panel expert on any Road Tests? If so, which and can you remember what the themes were and how you enjoyed helping them? It was a pleasure to be part of the Camelot Road Test expert panel helping Cloudsoft to validate and refine their go-to-market proposition and strategy. Cloudsoft’s proposition is, by its nature, a technically complex one. The panel helped Cloudsoft to consider how its benefits could be clearly and crisply articulated to the UKGI market, with focus on specific areas of market relevance and messaging. Area of expertise? Business Transformation Setting and Executing Strategy Coaching and Mentoring Employee and Customer Engagement Highest/proudest most recognisable previous role? COO of Open GI. Please can you provide some examples of recent projects that you’ve worked on? In 2019 and 2020 I led the business in its understanding as to what  the real drivers of performance were. I was able to support the operational leadership to redesign how processes, people, and systems were interacting to deliver more predictably, quickly and with better quality. That resulted in a 15% cost reduction and a 24% revenue uplift, adding £2m to the bottom line inside the first year. What is your unique selling point? What makes your business approach unique? 14 years spent at Board level in one of the UK’s largest insurtech businesses.Spanning both sales and operational roles has given me a 360o set of experiences, both from directly facing into customers, but also from then running operational delivery and support to the same businesses and people. Can you name one professional high point from the last 12 months and what made it so good? You never stop learning and the last 12 months were a huge one for me in that regard. Through a hands-on exposure to Systems Thinking, I came to realise that the performance a business is getting is because of the “systems” within it. A combination of roles and people, but also processes and technologies. How all these parts interact will determine performance. It is generally the non-people aspects that create the most headwind in terms of performance. Talent is often constrained by the conditions “imposed”. The experience changed the way I think, behave and lead. We need to talk about…? What is, or what should be, hot on the industry’s lips in your view? Trust…the public’s trust in the industry, both private individuals and corporate entities, but also the trust relationship between insurance businesses and their staff, during and in the wake of the pandemic. Please describe a challenging work scenario and how you resolved it. Successful transformation and leadership of a large, 50-strong sales organisation. Reinvented an outdated and under-performing function to become a more data-led, consistently successful business unit that met or exceeded annual sales targets and developed stronger relationships with its clients over consecutive years. Consistently secured new sales capital contract values of £5m annually, protecting and growing annualised total client revenue value of £18m year-on-year. What should everyone be reading/listening to? “The Practice of Adaptive Leadership” by Ronald Heifetz, Alexander Grashow and Marty Linsky is a book all leaders, at all levels, should read in my opinion. And it’s never been more relevant. Do you have any words of wisdom for us or a short phrase that sums up your ethos? Understand your business and its performance using data, not opinion and anecdote. Coach and encourage individuals to also understand without giving them the answers. Encourage innovation and experimentation through trust. The perfect is too often the enemy of the good. Do you have a favourite quote? This in the context of leadership: “Be in the work, but not in the way.” Any professional goals for the upcoming year? To see the 18 years of experience gained in corporate life translated into practical and demonstrable help for other businesses. Helping people to turn their ideas into money, and to fix the operational problems that are stopping business from growing will be genuinely rewarding for me. My goal is to give something back to the industry that’s been so good to me for so long. Why are you such an asset to the industry & the network? I have a proven track record, through multiple roles of “fix, grow and accelerate” strategic execution. I’ve evidenced an ability to influence, help set and communicate top-down strategy, but to also get into the work to support bottom-up delivery to ensure it connects. And to help people think and behave differently for themselves to support sustainable and long-lasting transformation. Why does your area of expertise need to be spotlighted? In a less-certain and more changeable world, adaptive leadership and systems thinking will play a significant role for those businesses and individuals who thrive. Both have shaped my thinking, behaviours and approach to leadership and transformation since 2017. Any stats/results to show off your proud moments? 4 years leading 300 people across 3 countries, delivering to and supporting 27,000 end users (2017 – 2021) Consistently delivered £5m in annualised new sales (2007 – 2017) Grew annualised revenue year-on-year to £18m (2007 – 2017) Improved delivery and increased revenue by 24% and reduced operating expenses by 15% (2017 – 2018) Supporting operational leaders in their ability to understand performance, redesign systems, structures, and processes to deliver better outcomes for their customers. Through revenue improvement and operational expense reduction, delivered business benefit of £2m in first year and a measurable increase in customer advocacy (2020 – 2021) Supported multiple business sale processes as a key member of Executive teams. Played an active role in due diligence with acquiring parties through application of knowledge and experience of both the business and the industry. Including an initial £172m Private Equity-backed MBO (2006), subsequent private sale (£272m in 2007) and further repurchase by Private-Equity (£300m+ in 2014). Most importantly what are 2 or 3 tips or giveaways that you can give to 1 or more of the following types of businesses? Solution providers to the insurance industries Be clear on value and the role you can play in creating it. That said, don’t fall into the trap of thinking UKGI is “different”. You do need to understand some of the fundamentals of distribution and market dynamic, but many of the challenges it faces are not unique. If you can clearly articulate value, you don’t need intimate knowledge (but the basics are a table-stake). Know what matters to the participants and ensure your proposition and messaging is aligned. Insurance businesses – startup/scale ups Don’t let your business model or strategy be constrained by what you think the market needs today, or even 5 years from now. The pace of change, and impending change, is accelerating. Start with consumer need, or the future thereof, both personal and corporate, and ensure it’s reflected, Insurance businesses – established Beyond strategy, be sure you understand what the real drivers of performance are. Use objectivity and data, not opinion and anecdote. Listen to the people who actually do the work. Then understand it. And take time to listen to what actually matters to your customers. Then connect the two and let the people who do the work also improve the work for the benefit of your customers through innovation and experimentation based on trust. And you’ll win and so will your customers. Other consultants Be genuine and authentic. Know and be honest about what you’re good at, and what you’re not so good at. But be clear that you have experiences and skills that are valuable. Anything else you think Insurers, solution providers to the insurance industry or potential members would find useful? Camelot provides unique access to a resource pool of experienced UKGI Senior Leaders with experience that I suspect is unprecedented. And the value of that experience is exponential based on its diversity. And… Last but not least, how does being a member of The Camelot Network help you/or add value to your business? “In simple terms, Camelot has given me access to a wide and diverse resource base of experience, skill and knowledge.

What is your role now since leaving corporate life? For the last 10 years, Sarah is an expert in advising companies in Hyper Growth phase on how to achieve their Pareto’s Principle AKA 80-20 Rule. Helping them find the 20% to focus on that will achieve 80% of their 100% Year-on-Year growth results. She helps firm align their activities across marketing, sales, CRM & product to achieve their targets in the most effective way. Previous roles - Ex-Head Growth for Coverly & Chief Marketing Officer for Social Value Portal. How long have you been an expert of Camelot? She has been an Camelot Expert for coming up 5 years. Have you been a panel expert on any Road Tests? Yes, many and she was even on the first one Camelot hosted. Key themes: When you’re so close to the business, It’s easy to focus and all the features and functionality you’ve worked so hard to develop & miss obvious things prospects need to know What problem you solve for the sector & for the job title of the decision maker/ ideal customer The need to quantify the value of the problem you’ve solved for others, make it easy for the prospect to work out what the investment will achieve for them. Case Studies & Testimonials are critical & much more valuable that your biased opinion Demonstrate you understand what the industry wants/needs, ask your prospects or get expert insights from groups like Camelot. Refine your value proposition, ideal customer profile into a succinct few lines, so anyone would be able to explain what you do or identify your ideal client. Keep the initial slide deck short, and aim to ask more questions and find out about them Minimise use of buzz words low-code / no-code… so what, how much do you save or improve a business? Area of expertise? Scale-up Growth including B2B SaaS, insurance and other sectors. She provides ongoing advisory/consultancy & Mentoring services to CEOs, Founders, head of marketing & Sales. She’s your go-to person in Helping firms achieve 100% year-on-year growth, By helping them find which are the areas/strategies the businesses need to focus on to achieve their targets. She helps them find “What 20% of activity to focus on… that will achieve the 80% of Results” and… Achieve targets faster Achieve more with less resource, effort and time Achieve more with the same budget Highest/proudest most recognisable previous role? Ex-Head Growth for Coverly & Chief Marketing Officer for Social Value Portal. How long have you been doing this subject/area? For nearly 25 years Sarah has been helping all sizes of business achieve their growth ambitions. From big brands like Honda, EA Games, Callaway Golf, to recently funded scale-ups. A big portion of her career has been in digital marketing, but the last 10 years she’s realised to be effective product and sales functions need to be aligned with marketing. She hates wasting money and resources. What is your company name?  Sterling Bright Ltd. Do you have a website? www.sterlingbright.co.uk Unique Camelot link for google tracking: https://www.sterlingbright.co.uk/?utm_source=Referral&utm_medium=Referral&utm_campaign=Camelot_spotlight_referral What is your LinkedIn profile URL? https://www.linkedin.com/in/sarahjoyuk/ Do you have a blog? https://www.sterlingbright.co.uk/blog?utm_source=Referral&utm_medium=Referral&utm_campaign=Camelot_spotlight_referral Please can you provide some examples of recent projects/professional high point that you’ve worked on? ESGTech - B2B SaaS measurement platform. Post Series A funding. Audi and strategy development to Growth. Achieved 68% YoY growth, 108% target, ARR 62% to 100+% increase, 401% increase in organic traffic in 2yrs, 7,000+ MQLs & business doubled in value in 1 yr. Coverly B2B / D2C - InsurTech Growth Strategy & implementation - Achieved Growth targets and Reduced cost of acquisition (CPA) by 72%, Growth achieved 4x greater than nearest competitor in 25% of time.🏅Brand of the Year Award finalist & 🏅InsurTech of the Year award finalist. What is your unique selling point? What makes your business approach unique? I help businesses find their 80:20 rule. Where to focus their efforts & the easiest way for the business to achieve their goals in the most cost-effective way. I help them balance working towards the 5 year strategy whilst achieving the short-term financial targets. I look at their team’s processes, what they’ve achieved & find the opportunities. She’s passionate about businesses spending time and money wisely, focusing on solving customer problems and making sure your budget and plan focus on short term & long term objectives. Do you have a Favourite quote? Before you scale, make sure you’ve maximised the conversion potential at each stage of the sales cycle first. Why waste money on finding new leads & knowingly putting them through a leaky sieve! Any professional goals for the upcoming year? To achieve more work-life-balance. And… Last but not least, how does being an expert of Camelot help you/or add value to your business? Being part of the Camelot Network is so valuable to me. I’m able to collaborate with other like-minded experts in their field enabling me & add value to my clients. It’s also great to have a network to bounce ideas off.

What is your role now since leaving corporate life? After +30 years working on the solution provider side of insurtech, I am now an independent advisor to insurance organisations and solution providers. I am genuinely excited to be able to use my years of experience of what works and what doesn’t to guide businesses to success faster and more reliably. It is proving to be immensely fulfilling and I feel I am giving back something to an industry which has been extremely good to me over my career to date! How long have you been a member of Camelot? I left corporate life in the summer of 2021 and immediately joined Camelot. I have known some of the existing members for many years so it was a great opportunity to re-establish connections, as well as meet new people with a variety of different skills and backgrounds. Have you been a panel expert on any Road Tests? I have been a panel expert and I’ve critiqued go-to market plans and given guidance and insight to insurance organisations and individuals which took me decades of hard fought experience to learn. Area of expertise? Strategy, Sales and Marketing in insurance technology. Highest/proudest most recognisable previous role? Director of Insurance EMEA at Pegasystems for almost a decade working with virtually every major insurer in Europe. How long have you been doing this subject/area? I started work as the marketing manager of an insurance broker software house that dominated the commercial lines broker market in the late 1980s. Since then, I have worked in technology, management consulting and outsourcing, but it has always been focussed on the insurance industry. Please can you provide some examples of recent projects that you’ve worked on? Working at Pega when it grew from 1,500 staff to 6,000 staff globally and broke through the Unicorn $1billion turnover ceiling. The Digitalisation of the Motor Insurer’s Bureau. The transforming of Vivat from a traditional to a digital, customer centric,future-proof insurer. What is your unique selling point? What makes your business approach unique? I listen well, communicate clearly and can apply a deep understanding of how to successfully transform insurance organisations, leveraging technology. I also mentor people to avoid making the same mistakes I have learned from. Can you name one professional high point from the last 12 months and what made it so good? When I left Pega, I was frankly staggered at the number of people who got in touch to thank me for the help I had given them, some going back decades. I have never had to approach anyone for work since, it has all come from relationships, recommendations and referrals. We need to talk about…? What is, or what should be, hot on the industry’s lips in your view? Ethical data and AI transforming the industry’s reputation from a bunch of boring, untrustworthy brands to an industry generating recognition and incredible brand loyalty through proactively protecting people and their assets every second of every day in a highly personalised way. What should everyone be reading/listening to? Black Box Thinking by Matthew Syed – Absolutely brilliant! Do you have a Favourite quote? “Efficiency is doing the right thing. Effectiveness is doing things right” – Peter Drucker Effectiveness always has more impact than efficiency. Why are you such an asset to the industry & the network I have been there, done it, made the mistakes and learned the lessons. As one customer said to me “I am standing on one side of a minefield and I want to be on the other side. You are the only guy who knows how to get me there without blowing up” I’m also a lot of fun! Why does your area of expertise need to be spotlighted? Vendors need to do a better job of selling technology. Insurers need to do a better job of deciding who can help them in the huge challenges ahead. Most importantly what are 2 or 3 tips or give aways that you can give to 1 or more of the following types of businesses. Solution providers to the insurance industries Stop talking about how your widgets and gadgets are better than the next guy – nobody cares! Fall in love with the problem you are solving. Don’t fall in love with your solution. You need to start listening to and acting on the art of the possible and pushing your boundaries. First mover advantage is building up to tsunami proportions in insurance right now. Someone will come along and break your industry if you wait too long to act. And… Last but not least, how does being a member of Camelot help you/or add value to your business? Connections, personal support, professional advice from very competent people and a lot of fun along the way!

Being innovative doesn’t require new technology, new infrastructure, extensive staff training and a large initial outlay. What it does require is a change in thinking. Thinking about how to use technology, which is already out there, already in our clients’ homes, on their phones and on their wrists.   It’s time to introduce the Internet of Things (IoT) into your customer experience, claims processing and general business processes.   What is the Internet of Things?   The Internet of Things comprises the interconnected devices that many people already have in their homes, from Alexa, to dashcams to Fitbits. All these things are gathering untold data about the users, which often are ultimately our clients and can make data collection for claims processes easier, quicker, and more reliable.   How can IoT be used in Insurance?   On a very simplistic level IoT can be used to collect data about clients’ driving behaviour, their health and the level of home security which can be used not only in customising insurance policies but also for verifying claims and generally improving the customer experience. However, there is more to the benefits of IoT than that.   Risk Mitigation  - IoT devices such as smart sensors can be used to monitor and collect data on insured properties, vehicles, or individuals. This real-time data can be used for more accurate risk assessments, leading to better underwriting decisions. By analysing IoT data, insurers can identify patterns and trends that help predict potential risks such as early signs of water damage or fire which can help insurance underwriters make better informed decisions.   Usage-Based Insurance  – Telematics devices in vehicles can provide data on driving behaviour, including speed, distance, and braking patterns. This can be used to provide personalised usage-based insurance policies taking their specific behaviour into account and reducing risk to the insurers.   Claims Processing  - IoT can provide real-time data on incidents which can speed up claims processing as well as providing more accurate data.   Preventative Maintenance  – It is possible to use IoT devices to monitor the condition of insured assets such as machinery or buildings which can help with highlighting preventative maintenance opportunities. This can reduce the number of claims due to equipment failures and breakdowns.   Health and Wellness Programmes  – With more and more people wearing devices to monitor different aspects of their health it is possible to use this data to offer personalised health insurance plans and incentivise policy holders to adopt healthier behaviours.   Fraud Detection  – IoT devices can also be used to identify unusual patterns which could be an indication of fraudulent activities. For example, if a connected home security system reports a break-in, insurers can then cross-verify the claim with other data sources to detect potential fraud.   Customer Engagement  – Using IoT data makes it possible to offer incentivised discounts to clients, for example for those who use smart home devices for security and safety. Not only will it reduce risk, but it will also improve customer relations.   Environmental Monitoring  - IoT data can monitor environmental conditions and provide early warnings for natural disasters which can be used by insurers to manage risks associated with weather events, as well as promoting proactive risk management.   In many cases the actual hardware is already in place in people’s homes, cars and businesses which means there is limited outlay for your organisation to use this data which is already being collected.   It’s also not necessary to put all these IoT innovations in place at once, and instead you could focus on one aspect of your business that could be improved and start there.   However, it can be difficult to know how to get started, which is where Camelot Marketplace can help. We can put you in touch with people who have already introduced IoT into their business practices. Camelot ensures all our members are all C-suite level executives with years of experience within the insurance business meaning they will be able to provide you with exactly the support and guidance you and your business need. For more information speak to a member of the Camelot Marketplace team today.

What is your role now since leaving corporate life? I am a Business and Leadership Coach specialising in helping… 1. Managers and leaders in the insurance sector deal with the challenges of transitioning into a new role, building confidence and presenting the best version of themselves. 2. Entrepreneurs building their businesses, strategy, managing time, prioritising and delegating. 3. People at the beginning of their careers working out what they might be best suited to. Area of expertise? Coaching and Mentoring. Highest/proudest most recognisable previous role? Leader of the Insurance Groups at three City law firms, RPC, Eversheds and Waltons & Morse. How long have you been doing this subject/area? Five years. Please can you provide some examples of recent projects that you’ve worked on? Working with the CEO of a new specialist MGA on how to prioritise, recruit a COO and restore some work life balance. Helping a broker develop his management and leadership skills following his recent promotion to lead a team of 40. Supporting an underwriter following promotion to lead his class in Europe. Steering a head of IT away from doing and towards delegating and making time for himself and his own growth. Supporting a senior broker with the transition to leading a team of 800 people Helping a finance director appreciate some drawbacks of his communication style and helping him develop an interested, inclusive and less challenging approach What is your unique selling point? What makes your business approach unique? I combine positivity, warmth, humour, experience and empathy with challenge and support – whatever it is, it seems to work! Can you name one professional high point from the last 12 months and what made it so good? Receiving the following feedback from a client who, when we started, was thinking of leaving his job. By having conversations with his boss he realised that promotion was possible and a few months later he got what he wanted. “When I first spoke to David I was treading water career-wise, unsure of which path to take next. Within 6 months I had a new motivation, a new energy, and I had been promoted to management. David’s coaching played an instrumental role. David’s coaching focused on discovering my strengths and then listening intently to my complicated mess of mixed thoughts before sculpting out a credible plan of action. David has an ability to cut through complexity like a surgeon with a scalpel, which meant that together we turned my mess of ideas into a coherent career plan which played itself out over the course of a few months. David’s coaching style is receptive and personal – a light touch which keeps revealing and re-revealing its value in your day-to-day career when you least expect it.” We need to talk about…? What is, or what should be, hot on the industry’s lips in your view? What we can do to support individuals’ mental health. Please describe a challenging work scenario and how you resolved it? It’s not just about business…The feedback one of my clients received from his superiors following his promotion to Head of Underwriting indicated a need to improve the way he behaved at board and management meetings. He often came across as disengaged, not interested and slightly embarrassed; he would fidget and mumble. My client understood how he came across (unintentionally) when under pressure and that this was due in part to a lack of confidence, understanding and focus. Underlying the lack of confidence was his home life, which was unravelling and contributing to a torrid time. We had to walk this elephant round the room and, although uncomfortable at times, by doing so it helped unlock the block. After three sessions he had transformed his performance and presence at board meetings. Do you have any words of wisdom for us or a short phrase that sums up your ethos? Camelot members are in a privileged position to have the independence, time and experience from our prior corporate lives to help others in all sorts of different ways that weren’t available to us before. So let’s use it! Do you have a Favourite quote? Don’t sweat the small stuff. Any professional goals for the upcoming year? To get repeat business from three more insurers or brokers. To help young people and continue to provide free coaching to charity leaders and those less fortunate than me. Why are you such an asset to the industry & the network? Having worked in the Market all my professional life I understand how it works. I am very lucky to be a very good listener with high empathetic skills which, combined with my experience, wisdom and insight, enables me to offer solutions, support and guidance that unblocks my clients’ blocks. Why does your area of expertise need to be spotlighted? Coaching  should be available to everyone at the various testing points of their careers, whether at the start, mid point or at the top of their working life. It pays dividends to provide coaching to junior and middle management. A few sessions can save months of anguish and wasted energy – the cost benefit is off the scale. Most importantly what are 2 or 3 tips or giveaways that you can give to 1 or more of the following types of businesses? Play to your strengths and manage your weaknesses. Don’t kid yourself about what you’re good and bad at. Get real and then work out how to focus on your strengths and what you enjoy and delegate your weaknesses. CliftonStrengths Assessment is a quick and easy way to get a look at yourself. All of my clients find it very helpful. Insurance businesses – startup/scale ups I have seen start ups fail as a result of the founder working all hours and not being able to get perspective and seeking support and challenge Coaching is one very good way for founders to test their priorities, review their strategy, maintain focus and achieve a good work life balance – and it’s more fun than going to the gym! Check out my website for examples of my work and some testimonials. Insurance businesses – established Coaching also provides support and learning when your people take on a managerial or leadership role and need to learn to thrive at doing the stuff they have never been trained to do. Moving from being a high quality technician to a leader is not easy for some. And… Last but not least, how does being a member of The Camelot Network help you/or add value to your business? It’s wonderful to be part of an insurance sector network where all the members are keen to help and support each other. I joined in June 2021 and wished I joined eighteen months ago, when I was starting my business.

What is your role now since leaving corporate life? I sit at the intersection of operations, emerging technology and data in the Lloyd’s and London Market. That unique combination enables me to help organisations create future focused operating models using new technology and data solutions, including sensor technology to make more data-informed decisions that (most importantly) supports the human. How long have you been an Expert of Camelot? 2 years. Have you been a panel expert on any Road Tests? I have supported 3 road tests.  I enjoy being able to help organisations refine their pitch and go-to-market offerings by providing honest feedback that is not corporately dressed up.  This transparency is far more helpful to organisations as they make their way in the insurance market. Area of expertise:- Underwriting Operations and Emerging Technology - Internet of Things and sensor technology, London Market transformation and Blueprint Two Highest/proudest most recognisable previous role:- VP, Global Head of Technology Innovation at AXA XL How long have you been doing this subject/area? Because I’ve had roles across several different functions, I’ve got a good end-to-end experience of all parts on the insurer value chain - 29 years and counting! What is your company name? HMLS Consulting Ltd What is your LinkedIn profile URL? https://www.linkedin.com/in/helene-stanway Please can you provide some examples of recent projects/professional high points that you’ve worked on? Gap analysis of three technology solutions who want to enter the Lloyd’s Market & Blueprint Two Supporting a corporate partner in their Blueprint Two journey Helping Brokers and Carriers navigate Blueprint Two Driving the adoption of IoT in the Commercial Property market Market scan & supporting the discovery phase for a new Outwards Reinsurance application Market research into the data & technology pain points for delegated arrangements What is your unique selling point? What makes your business approach unique? I’m a continuous learner and a proud generalist so I know a little about a lot of subjects! That means that I can strategically assess operating models and technology solutions across people, process and data – how these connect, where the gaps are and how to transform. Do you have a favourite quote? Never change to be accepted by others.  Stay weird. And… Last but not least, how does being an expert of Camelot help you/or add value to your business? When you leave corporate life, you no longer have a ‘work family’, Camelot brings that work family and a network of people you can ask for help and that support you.  We all lift each other up which is important when you’re all independent.

Context A prominent international insurer approached one of our ‘experts’ as they sought to enter the UK SME marketplace.   Our expert, an experienced COO and CEO with great market insight, knew that by harnessing the collective expertise of Camelot, he could deliver a high quality, market leading piece of work that the client desired. Impressed with the experience within the Camelot team, the client commissioned a project to look at the ROI on a potential investment of up to £75m. Problem Statement A major commercial and specialty insurer aspired to rank among the top 10 most profitable insurers globally. Their goal was to enter the UK SME market, aiming for a 6% market share within 5 years, despite lacking prior experience or market presence in this sector. What We Did Once the project started it took 4 weeks to mobilise a team of Camelot experts. They then spent 5 weeks producing a detailed market study (400 pages) and presented it to the Exec team and agreed on the best strategic options to 'build out' in the Design Phase. The team included: Ex Head of Pricing Ex CIO Ex Marketing Director Ex SME Product Head Professional Insurance consultant with specialist experience in market disruption All goals and deadlines were met, and the global CEO acknowledged that the engagement of experienced practitioners at Camelot had helped save them from an investment of between £35-75 million that had no guarantees of success. Resulting Business Benefits. The detailed research, data and strategy guidance delivered what the Insurer needed and concluded that the level of investment needed did not meet their current plans.  The project work has provided the Insurer with the guidance needed for their ongoing UK strategy, which they are continuing to implement today. See how Camelot helped a re-insurer with a digital strategy here

2023 was another year of global turmoil. But turbulent times spark innovation. As the industry rises to meet these challenges, it is forced to innovate to find new and exciting ways to mitigate the impacts on end customers (and the bottom line). We’ve seen great leaps in innovation in the last year, particularly in Generative AI. And new products, solutions, and businesses emerge committed to driving the industry forward. Nevertheless, underwriters have been under extreme pressure to carefully select and manage the risks on their books, as well as looking ahead to predict what might happen next. They can’t afford missteps in the current market cycle, which although shows signs of softening across some specialty lines of business, remains hard in areas such as property reinsurance. Insurers aren’t quite out of the woods yet. The key to adapting and responding to these challenges is data, and the ability to access insurance and risk information in real time. Smarter use of data will unlock untold potential for underwriters, enabling them to stay ahead of the market and remain competitive. Data underpins many of the 9 insurance industry trends Send technologies expect to see over this year. We share a summary here, but for the full report visit Send here Trend 1: AI is the norm now, what’s next? It wouldn’t be a trends article without the mention of Generative AI (Gen AI), a buzzphrase of 2023 that shows no signs of disappearing any time soon. But we must acknowledge that AI in insurance isn’t a new phenomenon, it’s here and has been for a long time. AI is already a game-changer for commercial and specialty underwriters with practical uses ranging from machine learning to spot patterns in claims data, optical character recognition (OCR) to interpret data from various sources, and natural language processing (NLP) to read documents and contracts. Trend 2: The year of the API Underpinning many of the trends, and the bonds that hold the insurance ecosystem together, the Application Processing Interface (API) will become more important than ever in 2024. Trend 3: Talent – the rise of the generalist The acceleration of technology, the application of AI, and the increased prevalence of digital underwriting will inevitably lead to a shift in the skills needed to be an underwriter. This is part of a wider cultural shift in how we think about and transact insurance. Trend 4: Collaboration is the new competition Collaboration and partnership will be key to success in the coming year. The underwriting evolution can’t happen if disparate groups of people and businesses work on their own pockets of innovation. This will only lead to systems and technologies that don’t talk to each other or drive holistic benefits for the wider insurance industry. Trend 5: Market softening: Cyber in 2024 Despite a number of high-profile cyber incidents at the beginning of 2023, the tide appears to be turning on the cyber market. Last year saw stabilisation in rates and the return of capacity to a market that has been beleaguered with challenges as underwriters and their clients struggled with how to manage the growing, complicated risk. Trend 6: Emerging risks – what’s next? It’s unlikely we’ll see too much change to the top risks in 2024. Geopolitical conflict, interest rate volatility, regulation, cybersecurity and ESG are all likely to feature high on the risk radar. But how can insurers predict and manage the next big emerging risks? And what should risk managers be on the lookout for? There is no doubt that rapidly evolving threats ( and opportunities ) are on the horizon. However, how insurers identify and respond to these greatly differs as they consider their risk tolerance thresholds. Trend 7: A proactive approach to managing climate change risk We continue to be surprised by the rate of climate change and the natural disasters it sparks. In 2023 we witnessed some of the costliest catastrophes around the world including Hurricane Idalia in the US, wildfires in Canada, Typhoon Doksuri in the Philippines and the devastating earthquake impacting Turkey, Lebanon and Syria. We’re likely to see more of the same in 2024, and with losses surpassing hundreds of billions of dollars globally, the industry must begin to adopt a more proactive response to extreme weather events. Trend 8: The hard insurance market persists While 2023 saw easing conditions for certain lines of coverage, the overall market remains hard. Aside from CAT losses and the wider economy, several factors contribute to the hard market. These include inconsistent underwriting profits, mixed investment returns, inflation and the cost of reinsurance. Trend 9: Investment in underwriting Finally, we’re experiencing a tangible shift in investment from claims and post-bind to pre-bind technologies that improve the underwriting experience, facilitating profitable growth and increased efficiencies. Conclusion 2024 is set to be another busy year for underwriters, and we expect to see intention turn to action as the industry embraces solutions to some of the biggest challenges it faces from AI, to the economy, to climate change. To read more detail about the above trends, please visit Send now

Gary Burke, an expert in Transformational Change, is a very active Expert of Camelot and was a key speaker at our first ever Camelot Live event on Innovation. In 2023 he published ‘A Transformation Lens’ which became a #1 bestseller on Amazon and has received dozens of 5-star reviews – the below give an idea of what people think of it: "The most practical guide to successful transformation I have read" "A must have for both exec teams sponsoring transformations and those embarking on a transformation lead role" If you’re in the UK you can read more or buy a copy here - https://www.amazon.co.uk/dp/1781337845. If you’re outside the UK just search for ‘A Transformation Lens’. Gary’s broad ranging industry expertise and his engagement in Camelot are both widely appreciated. Read on to learn more about the man who rings in the changes… So, in a nutshell: what do you do, and enable your customers to do? The point of any transformation (be it business, digital or any other flavour of transformation) is to bring about a step change in a company’s operation and performance to deliver different and better outcomes. It’s complex stuff and can involve significant changes to the company’s business model and/or its operating model (both of which are sometimes poorly understood) so the challenges and complexities involved, and the impact transformational change has across all parts of the organisation are often underestimated. This can easily lead to costly failures, both financially and reputationally, so I help companies deliver transformational change successfully, and there are two main aspects to what I do. Firstly, I work with leadership teams to help them better understand what’s really involved so the decisions that are made at the outset of any transformation programme regarding strategy, direction, prioritisation and investment etc are informed decisions. This helps to ensure that transformation programmes can be approached and subsequently executed in the right way, avoiding the common pitfalls and reducing programme risk and cost. Secondly, I get involved with the execution and delivery of transformation programmes. This may be in a leadership role (eg programme director) or in an advisory role, acting as a critical friend, providing guidance, support, oversight and challenge to the programme sponsor or board. I also work with solution providers and insurtechs to help them better understand how their products impact their clients’ business operation (not just their IT) and, since publishing ‘A Transformation Lens’, I’ve been invited to speak at various corporate events and conferences – most recently at the British Computer Society and The Insurance Network (TIN London Market). What are some recent projects you’ve worked on? Alongside the speaking events, recent activity has included working with an insurance broker helping them re-platform and introduce new ways of working (expanding their digital offering etc) and with an insurer to review their operating model as they scale their business. Outside of the insurance sector, I’ve been helping a health care company develop their change capability and improve their business planning process. What is your unique selling point? What makes your business approach unique? I’ve worked across a number of sectors although a lot of my career has been spent in the insurance industry. Although starting my career as a student actuary, I’ve been working in the transformation and change space since the mid-1990s in a variety of project, programme and head of change roles, for companies, consultancies and solution providers – so I’ve seen things from all side of the fence. It’s this rounded experience and the ability to keep the big picture in view whilst also appreciating the detail, an innate curiosity, a pragmatic common-sense approach, and the confidence to ask the stupid questions and challenge the status quo, coupled with a desire to establish clarity and ‘make things work better’ that gives me my USP. What is, or what should be, hot on the industry’s lips in your view? It’s impossible not to mention AI…. however, alongside all the talk of what it is, isn’t, and may or may not be able to do now and in the future, we need to remember that lots of hard work has gone into developing the products and solutions being discussed – they didn’t just magically appear!  Companies in the insurance industry, many of which struggle with legacy technology, siloed operations and poor data, will need to address these issues to take advantage of any such solutions. Getting the basic foundations in place, particularly understanding the organisation’s operating model, is critical… there are no silver bullets! So, what’s one workplace challenge you have overcome? Programme recoveries are always interesting as in my experience a major factor is that the fundamental things just haven’t been done – akin to building a house without putting in the foundations, and then wondering why it falls down!  With the recoveries I’ve managed I’ve always taken a pragmatic approach to reset and refocus the programme – re-engaging stakeholders, getting control over costs, re-clarifying outcomes, objectives, scope and benefits, and ensuring that activity is aligned to appetite and capability. What should everyone be reading/listening to? My book of course! 😊 “A Transformation Lens: The savvy business leader’s approach to transformational change” - https://www.amazon.co.uk/dp/1781337845. “Drunk Tank Pink: The subconscious forces that shape how we think, feel and behave” by Adam Atler - https://www.amazon.co.uk/dp/1780745834 Do you have any words of wisdom for us or a short phrase that sums up your ethos? “Keep it simple” immediately springs to mind. Companies can sometimes overcomplicate things, lose sight of the big picture and end up with solutions and outcomes that don’t address the real issues and what’s really needed. There is another that I’d like to share… the scenario being a company that’s about to embark on a transformation programme, and the three questions that the exec sponsor should be able to answer before contracts are signed with solution providers and consultancies: Q1. What outcomes do you want, ie. what will the organisation look like, what experience do you want customers to have post-transformation? Q2. Why do you want these, ie. what problems are solved / opportunities taken advantage of and how do they align to the organisation’s strategy? Q3. If I asked your leadership team colleagues Q1 and Q2, would I get the same answers? Do you have a Favourite quote? “One can never consent to creep when one feels an impulse to soar” – Helen Keller “I won’t be the one to be bound by the sound of if only”.  Okay, it’s a lyric rather than a quote but I like it! It’s from the song ‘If Only’ by Hazel O’Connor from the Breaking Glass film soundtrack. Any professional goals for the upcoming year? I’m passionate about changing how transformational change is approached, executed and delivered, as programmes should be more successful than they often are. Building on the success of my book, my professional goals are to continue speaking at events to raise awareness of how to think about transformation in a more holistic way and continue to add as much value as I can to clients, whether that be in an advisory or leadership/execution capacity. And… Last but not least, how does being an Expert of Camelot help you/or add value to your business? Being an Expert of Camelot has given me the opportunity to get to know some amazingly talented people working within the insurance sector and beyond.

AI is an important part of everyday life, and is integral to many activities from algorithms on the internet to self-drive cars. This technology could be used within the insurance industry to drive innovation and to improve the overall customer experience, which will put you head and shoulders above the competition. Applications within the insurance industry If you think that introducing AI into your business has to be a big commitment to the level and impact of ChatGPT, you’d be wrong. There are many low-key ways of implementing AI which will have positive results for your business processes. There are three main areas where AI would be beneficial. Customer Experience Virtual Assistants - By introducing Chatbots or Virtual Assistants to your website customers will be able to get answers to the most frequently asked questions 24/7. They can then be guided through the insurance process, get help with common policy enquiries and receive basic trouble-shooting whenever they need it. Predictive Analysis for Pricing - Using AI-driven predictive analytics will provide easier, quicker and more accurate pricing based on customer risk and specific circumstances. For the customer this could mean quicker and more accurate quotes. Automated Underwriting - Policy approval times can be improved by introducing automated underwriting, which uses AI models meaning there will be more consistent decisions across the board. Fraud Detection Anomaly Detection – Machine learning algorithms can identify unusual data patterns and can flag them as potential fraudulent claims, quicker than could be caught manually. Social Media Monitoring – It can be surprising what fraudulent activities can be picked up on social media if you have the time and capacity to monitor it. This is where AI tools can help. They can monitor social media and help to verify claims or flag them as potential fraud. Behaviour Analysis – Often people behave according to type and with the help of AI it is possible to analyse historical customer behaviour data which could help to detect fraudulent claims. Claims Processing Automation of Routine Tasks – Not all tasks need to be carried out by a human, and by automating routine tasks like data inputting and document verification can speed up the claims process as well as freeing up your staff for more skilled work. Image Recognition – AI can be used to assess images of damaged property which automates another time consuming part of the process as well as speeding up the claims procedures. Predictive Analytics for Claims Handling – It is possible to use predictive modelling to determine claim complexity and to allocate resources accordingly. This can speed up the claims process and enable your staff to be more productive elsewhere within the business. How to get started In order to be innovative in your approach to customer service and claims processing you don’t need to implement all of these suggestions in one go. In fact introducing AI in just a couple of places can vastly improve the customer experience, enabling your business to continue growing. However, choosing the right AI tool to use, knowing how to implement it and how to ensure it is accurate can be a daunting task if going alone. Wouldn’t it be useful to speak with people who have already introduced AI into their businesses? How much do you think you could learn from their successes and more importantly their mistakes? This is where Camelot Marketplace can help. We ensure that our members are all C-suite level executives with years of experience within the insurance business. This means they will be able to provide you with exactly the support and guidance you and your business need. For more information speak to a member of the team today.

What is your role now since leaving corporate life? I’m working as an independent consultant offering expertise in a number of areas; primarily Customer Experience but also marketing, comms, programme management and operational transformation. How long have you been an expert of Camelot? 10 months. Have you been a panel expert on any Road Tests? Verisk road test, refining their pitch of a new tech model. Really enjoyed helping them, like editing in real time! I also love the Insurtech clinics, of which I’ve done many. It is so interesting and I love being able to help people build on their ideas. Area of expertise Customer Experience in the widest sense, which to me includes culture change, operational transformation, programme management, internal and external comms and all kinds of data and insight to inform where to improve. Highest/proudest most recognisable previous role I am super proud that I’ve led CX at three very different insurers (Aviva, LV= and ManyPets) who were at completely different stages so required quite different approaches, from transformation of legacy to propositions to supporting rapid growth. How long have you been doing this subject/area 20 years! Please can you provide some examples of recent projects/professional high point that you’ve worked on? My most recent projects have been working with start up insurers doing discovery work to help them assess what they need to prioritise.  As always there’s so much for them to do and limited time and resources. I have really enjoyed these projects as it uses my varied skills and enables the start ups to get clarity that is sometimes hard to see from the inside when you’re so close to something. What is your unique selling point? What makes your business approach unique? My ability to improve CX and EX whilst also reducing costs and improving efficiency. People think this is a myth, but in my view it’s the only way to do it. Bad experience costs money! I take the insight from those three areas and work on what creates improvement across the board. Do you have a Favourite quote? “When we strive to become better than we are, everything around us becomes better too.” The Alchemist by Paulo Coelho Any professional goals for the upcoming year? To do interesting work with good people, that makes a difference and pays the bills plus a bit more! And… Last but not least, how does being an expert of Camelot help you/or add value to your business? Being a part of Camelot has been invaluable to me as I’ve been starting out on this consultancy path. It can be a bit overwhelming at first and I think I’d have felt quite lonely if I didn't have Camelot to connect with.

Katie Crook-Davies, Managing Director of consultancy, Tabei, tells us all about life and health insurance and her mission to protect more people through market-leading propositions and faster processes. What is your role since leaving corporate life? I’m the Managing Director of Tabei, a consultancy supporting the life and health insurance sector across proposition development, actuarial and data science and marketing. How long have you been a member of Camelot? Since mid 2019. Area of expertise? Life insurance proposition development, actuarial services, marketing and PR. Highest/proudest most recognisable previous role? National Account Manager at Vitality (possibly the first actuary to join the ‘dark side’ of sales… but don’t quote me on that 😉). How long have you been doing this subject/area? 12 years. Please can you provide some examples of recent projects that you’ve worked on? Proposition development and innovation for one of the UK’s largest insurers. Life proposition development for large UK mutual insurer operating in the advised market. Marketing support for global MarTech business supporting digital distribution for life insurers. Content marketing for UK protection advice firms. What is your unique selling point? What makes your business approach unique? Tabei combines 20+ years of actuarial expertise with a keen eye for marketing and customer experience – a combination I believe is essential in delivering life and health insurance solutions that customers really want! Can you name one professional high point from the last 12 months and what made it so good? Launching our new actuarial software, t+1, was a huge professional high point for me. It’s four years in the making and I’m so proud of what this new technology can do and the potential transformation it can bring to the actuarial modelling space. We need to talk about…? What is, or what should be, hot on the industry’s lips in your view? It has to be diversity and inclusion! We need to get uncomfortable topics on the table, normalise them and create safe spaces for everyone to discuss openly. And of course, it’s not just the right thing to do, it makes absolute business sense – it’s really time to make D&I a strategic business priority! Please describe a challenging work scenario and how you resolved it? Naturally, being self-employed, I wear many hats and am often juggling multiple work priorities at any one time. I find this situation can fix me in the ‘doing’ and the day-to-day work, sometimes taking focus away from the bigger picture and important business strategy work. I’m continuously working to better manage this but it’s certainly a work in progress. For me, it’s never easy to say ‘no’ to things! What should everyone be reading/listening to? A shameless plug, but check out https://riskymix.uk/ if you’d like to learn more about D&I and hear thoughts from experts in this field on the work we can all do to make our industry a nicer place for everyone! Do you have any words of wisdom for us or a short phrase that sums up your ethos? Do work that excites you, surround yourself with people who energise you, don’t calibrate to others’ measures of success, write your own story and, above all, never undervalue your skills and experience! Do you have a Favourite quote? “Let go of who you think you’re supposed to be; embrace who you are.” – Brené Brown Any professional goals for the upcoming year? This is an easy one – to spread the t+1 message far and wide and to continue to deliver seamless integration and exceptional service to existing clients. t+1 delivers more competitive pricing and better model cost control and we’re really excited to show everyone in the insurance industry the power that newer technology has over legacy actuarial modelling software. Why are you such an asset to the industry & the network? My 12-year tenure in life and health insurance puts me in a unique spot as an independent consultant – I’ve developed a solid actuarial grounding in the sector and specialist technical expertise yet I’m also at an early enough stage that my thoughts and behaviors flow freely – I’ve not been shaped by decades in the corporate world, and instead present with fresh ideas and approaches that haven’t been tried before. Katie’s experience and technical know-how meant that she delivered work to a high quality. Katie was a trusted pair of hands, an absolute pleasure to work with and far exceeded my expectations. Claire Kelly – Head of Protection Product, LV= Why does your area of expertise need to be spotlighted? As in many industries, I believe success comes from designing great products, pricing competitively and marketing effectively and this couldn’t be more true than for life and health insurance – products that are notoriously difficult to sell. Great proposition and customer experience, actuarial pricing capabilities and simple, jargon-free, communications will be a winning combination in this space – and it’s these three pillars that we specialise in at Tabei. Most importantly what are 2 or 3 tips or ‘give aways’ that you can give to fellow consultants? Try new things and encourage teams to think creatively and explore their curiosity. Embrace failure – see failure as a chance to learn. Step away from the pack to see brand new opportunities and apply your existing capabilities in exciting ways to develop a competitive advantage. Really put the customer at the heart of all proposition development work and never undervalue the importance of customer research. And… Last but not least, how does being an expert of Camelot help you/or add value to your business? The life of an independent consultant can be a lonely one, but Camelot has allowed me to meet so many like-minded individuals from across insurance who are facing, or have faced, very similar challenges. I’ve been able to get invaluable advice and guidance from more established consultants, which I’m extremely grateful for, and hope to be able to do the same for the fresh talent entering this space.