Mastering 45-years in the insurance industry

FA NEWS: You’ve been involved in the insurance industry for a number of years. Where have you worked and how has your career unfolded?

Ken: I started my insurance career with the Yorkshire in 1968 and did stints at Guardian, Protea and Mutual & Federal before joining AIG South Africa.

I’ve never been afraid to take on different roles in the industry. As a result I’ve tackled diverse disciplines such as marine underwriting – spent some time on the life side – and accepted a variety of roles in commercial underwriting. More recently I’ve accepted a variety of management positions. This diversity advanced both my personal growth and career. My advice to aspiring insurance professionals is not to be afraid of taking on diverse roles.

FA NEWS: When did you join Chartis?

Ken: I was headhunted by Chartis (then AIG) in 1998. They approached me to set up their Durban branch operations. After creating a sizeable presence in the Durban market I moved to Johannesburg to take on a series of management roles, ending in my appointment as Commercial Lines Director about five years ago. I also sit on the board of Chartis Life South Africa.

FA NEWS: What part of the industry do you enjoy the most?

Ken: I enjoy meeting new people and working closely with brokers. In my executive role I have less opportunity to meet and interact on this level – and that’s something I miss most about my earlier roles.

FA NEWS: The concept of insurance has not changed over time – but the insurance "game” is always evolving. Do you believe this change is for the better?

Ken: Regrettably, there is much less focus on underwriting these days and more of a drive to gain market share. Whether this is sustainable or not – time will tell.

FA NEWS: It must be difficult to stay up to date with developments in the domestic insurance industry. Do you actively participate in the debate and discussion around key insurance issues?

Ken: Yes, of course. I served for some time as the President of the Insurance Institute of Kwazulu-Natal. Nowadays I sit on the boards of the Intermediaries Guarantee Facility and the Fire Protection Association of South Africa as well as being a member of the IISA Commercial Technical Committee.

FA NEWS: There is a sense that Chartis caters for larger brokers. Is there a still a place for the smaller independent brokers?

Ken: This may have been true in the past when we focused on corporate and A&H business. But in recent years we have developed significant independent broker partnerships. Since 2000 we have invested significantly to build our infrastructure and expertise in the commercial SMME segment. We have also developed strong relationships with smaller independent brokers. Chartis has singled out the SMME commercial segment as a growth opportunity and our offering to this segment in terms of product and service improvement is compelling.

FA NEWS: What makes the Chartis offering unique? Why will the smaller independent broker support you rather than the competition?

Ken: They will support us for two reasons. Firstly, we have a superior product offering, including broad form covers for SMME commercial clients. And secondly, we offer value added niche covers such as Kidnap and Ransom (K&R) consultants cover and Image Protector. Image Protector offers invaluable support to the insured (and to patrons) should the business suffer loss or trauma following a hold up, for example.

FA NEWS: How would you go about involving smaller brokers in the Chartis model?

Ken: The small broker is already accommodated in the Chartis business model. Nowadays economic growth is driven by small business and companies ignoring the commercial SMME market do so at their peril. We will develop relationships in the segment by continuous product innovation and service improvement.

FA NEWS: The New Year is a time for strategising and product innovation. What does Chartis have in store for brokers through 2012?

Ken: The service standards in the commercial SMME segment can always be improved. We have committed ourselves to take service delivery to the next level this year. Our new "Instaquote” facility allows independent brokers to quote and bind D&O cover for smaller companies. These companies face significant D&O exposures due to changes in the new Companies Act.