Episode description
Welcome to the latest edition of the Leadership in Insurance Podcast where we were fortunate to be joined by Joel Pridmore
Joel is MD and Co-Founder of Frontier Global Underwriting a UK-based MGA operated out of London and Australia that focuses on the D&O market.
We have wanted to get an MGA entrepreneur on for some time and having only started Frontier in 2020 we were keen to hear about Joel's experience of launching a traditional MGA mid pandemic!
In this episode we talk about:
- The good foundations of working at a global corporate
- Why now is time for an MGA?
- Unique distribution and unique products - the MGA golden rules
- Knowing your niche - the value of an MGA
- How intrusive can we be to truly assess D&O risk?
- Utilizing AI tools to better understand the risk
- The MGA platform- the opportunities and limitations for you and your capacity providers
- Why did Joel decide to raise investment vs plug into an existing MGA platform?
- Build vs buy - why did Joel decide to build?
- Configuration as a hindrance? can you have too much choice? soft market vs hard market perceptions of the MGA model
- Does criticism of MGA ultimately fall back on capacity providers? are they complicit?
- Is the capacity relationship inefficient? Should there be longer-term deals?
- Why does Frontier only have one capacity provider?
- The state of the D&O market in 2021
- The importance of giving people opportunities into the insurance market
- The benefits of joining a small company as a grad - you see the whole business
- Syndicate in a box
- Should insurance ever be a competition on price?
- Volume vs Value
- Can we do better in attracting talent to the insurance market?
This podcast was brought to you by FinPro an executive recruitment business that works in the Insurance and Instech space
Our host is FinPro Director, Alex Bond
Please like and subscribe if you enjoyed this podcast
Hosted on Acast. See acast.com/privacy for more information.