Business Development Manager, Bristol
Here at Tokio Marine HCC, we have great people in our teams across London and the regions with valuable experience and expertise. To get to know our experts a bit better, we profile them in our Q&A series. This edition is the turn of Ian McFadyean, Business Development Manager, Bristol, who joined Tokio Marine HCC earlier this year.
1. What do you think the insurance industry will look like in 2028?
That’s a very interesting question and one which I think we can only speculate as to the extent of how rapid the change will be and where it will ultimately lead. It is already happening around us. Who saw the red telephone coming in the 1980s? The changes that are happening today will only accelerate and, ultimately, provide a much better and tailored customer experience which is where the insurance industry must improve. Whether it be Artificial Intelligence, Blockchain, Big Data, Insurtech, or continued broker and insurer consolidation, all of which will impact insurance in some way, I think the future looks very exciting. Insurers have historically struggled to change with the modern world, but with technological advancements and new start-ups looking to solve inherent legacy issues within the insurance value chain, there is a certainty that change is coming. I do also believe that the insurance industry must not lose sight of the things that we have always done well, and that is the value of relationships and face-to-face communication. So, in 2028, I think we will see a new and advanced market, but one that still heavily relies on traditional face-to-face deals too.
2. What do you bring to Tokio Marine HCC in your role?
Enthusiasm, knowledge of the local market, communication skills, as well as a sense of humour too! Having started my insurance career back in 1997 in Bristol, I have worked in the South West and South Wales Market pretty much exclusively since then. This has enabled me to meet many different brokers, many of whom I still know. These relationships are essential to the Business Development Manager role which is a completely new role for the Bristol office and one that I am enjoying shaping.
3. How important do you think market awareness is for carrying out your job?
It is essential and something I try to make sure I stay on top of by keeping abreast of market trends, not only in terms of our direct competitors but also market developments as a whole and personnel changes too.
Seeing brokers regularly means that you will often pick up market updates, new products or developments which come up regularly in conversation and are extremely useful to know.
I also do take time to keep up with market developments by reading Insurance publications, so that I have a good awareness of current trends and the competition. You never know what else may come up in conversation with brokers, which makes each day different to the one before and each meeting fresh and interesting. This also means that it is always extremely helpful to be aware of what is happening in the market, to sound credible and professional in conversation and of course, to come up with solutions to specific problems.
4. What does an ideal Saturday afternoon look like for you?
An autumn Saturday afternoon is my ideal day. Long walks with our Golden Retriever, Benson and spending time with my daughter doing outdoor activities. I’m particularly looking forward to the Rugby World Cup in Autumn 2019, where I’ll be spending a lot of time watching the games. It is lucky that I have a sense of humour, as I can’t see England winning next year….
For anyone attending Broker Expo in November, Ian will be with us on stand 107 – visit our stand for an introduction.
Business Development Manager – Professional Risks South
+44 (0)117 372 7287
This article does not represent personal advice or any recommendation. Please seek advice from your Insurance Broker who will be happy to look at your individual business needs and circumstances.
Tokio Marine HCC is a trading name of HCC International Insurance Company plc, which is a member of the Tokio Marine HCC Group of Companies. HCC International Insurance Company plc is authorised by the Prudential Regulation Authority (PRA) and regulated by the UK Financial Conduct Authority (FCA) and Prudential Regulation Authority. Registered in England and Wales No. 01575839 with registered office at 1 Aldgate, London EC3N 1RE.