We managed to catch up with Euros Jones, our new Commercial Lines Director ahead of him joining us on the 1 February. Take a look to see what he had to say about the industry, LV= Broker and his family.
What are you looking forward to most about your new role?
Working with great people and being given the opportunity to lead a successful team to become a market leading business in the commercial lines market.
What direction do you see the commercial lines industry taking in 2016?
The 2015 financial results will have been impacted by the floods, but, half year commercial lines results were improving on 2014. Whilst the underlying outlook may have improved, the continuing competitive market and the flood claims at year end reinforces the need for successful insurers to execute more sophisticated strategies to improve the balance sheets in 2016 through:
- Increased investment in IT and operational re-design to improve operational efficiency and reduce future operating costs
- Increased focus on better underwriting results and risk assessment through increased usage of data and analytics
- Improving depth of relationship with their target broker segments and customers to develop better propositions aligned to their specific needs
- Improved focus on business leadership and talent management
- Better claims management.
What do you think will be the biggest challenges in 2016?
- Increased impact of technology and automation on SME business
- Adapting to the next generation of brokers and customers
- Pricing accuracy and underwriting in an unpredictable weather climate
- The acceleration of advanced analytics and wide range of data sources utilised by competitors to improve results
- Ongoing regulation and adapting to requirements of the Insurance Act
- A continuous competitive trading market.
Tell us a bit more about you and your career before coming over to LV=?
I grew up and went to school in Wales and left to do a degree in engineering at Brookes University.
I have over 27 years commercial insurance experience and have previously worked for RSA, NIG and was instrumental in setting up Arista as part of the original executive team. I have a business development, underwriting and financial management background. I really enjoy building and developing high performance teams and helping people around me develop their own careers.
I’m married and have seven year old twin boys who keep me young and bring me down to earth on daily basis!
What drew you to LV= as a company?
The people, culture and the refreshing approach in the Insurance market.
What do you like to do in your spare time?
I have become a MAMIL (middle-aged man in Lycra) over the last few years after rediscovering a love for cycling. I enjoy watching any sport and this passion has been embraced by my twins, so Sky Sports is rarely off the TV in our house! I also enjoy travelling and eating good food – Friday night wouldn’t feel right without a Balti and bottle of Cobra!
If you had 3 magic wishes, what would they be?
- To retire early and visit the 7 wonders of the world
- Eradicate homelessness and poverty
- Wales to win the UEFA European Championship this summer
(But not necessarily in that order!)
If we asked your previous co-workers to describe you in a few words, what do you think they would say?
Passionate, hardworking and tenacious with a strong desire to succeed.
Categories: Commercial Lines