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A pressing issue across the industry comes under the spotlight in a new whitepaper released by reinsurtech Supercede: the silent crisis of unreliable reinsurance data and its costly implications for cedents.

The firm delved into this challenge by conducting interviews with over 30 senior global reinsurers, brokers, and cedents. The findings revealed that subpar data is more than a mere inconvenience; it is a substantial financial burden on results. Cedents are directly bearing the cost through escalated reinsurance expenses, reduced capacity, and missed opportunities for innovation.

Rewards and punishments

Across the industry, Supercede revealed unity across reinsurers in what to expect from their cedents: improvements in the standard of submission data. Those which do so stand to be rewarded, provided they continue to provide better data, while those who do not will continue to be punished.

Research cited by the whitepaper unveiled that the quality of submission data varies heavily across the market, with most of the respondents noting substantial variation even in the same regions and business lines. With poor-quality data comes consequences, which affect not only cedents but brokers and reinsurers as well.

The foremost of these is price increases, with “pricing load” becoming standard as reinsurers face more uncertainty that comes from substandard information. Brokers and underwriters, on the other hand, will see postponements for value-adding analytical activities to allow time for manual data manipulation, with this inconvenience ultimately ending in lower goodwill.

With these challenges becoming prevalent, reinsurers are looking for a rise in the bar for quality, with most keen to invest in modernised portfolio management tools that depend on accurate data to operate. Cedents and brokers are doing their parts as well, with entities using new technologies to drive a rise in submission quality.

“We want to be in a position to reward cedents for providing us with good data in our pricing; unfortunately, at the moment, we often have to include uncertainty loads for poor or incomplete data,” said Jonathan Gale, reinsurance chief underwriting officer at AXA XL.

Data distrust tax

Another standout revelation in the report is the weighty “data distrust tax” that reinsurers impose due to vague or inconsistent data. This often results in a significant 10% surge in reinsurance rates, impacting both loss and combined ratios.

That said, reinsurance protection is not better when cedents pay out more for the same coverage. Supercede noted that CEOs who are unsuccessful at equipping their ceded reinsurance teams with budgets for building better submission packs should reconsider, especially if outwards spend goes to tens or hundreds of millions a year.

“’Pricing loads’ are often implicit: actuaries and underwriters will make conservative assumptions to allow for uncertainty in the data and risk,” Liberty Mutual Re chief actuary Hetul Patel said. “This will be built into the technical price.”

Incomplete data sets

Adding complexity to the landscape, cedents providing incomplete data sets often find themselves excluded from tailored evaluations. Instead, they are grouped into broad-stroke portfolio generalisations, missing out on bespoke, more favourable terms.

In general, those easiest to work with are prioritised, while more cumbersome ones might not get the best underwriting options. Supercede said that underwriters are right to walk away from cedents who are harder to work with, as reinsurers need to build their portfolios more efficiently, even if it means that some will get left out.

“We believe high-quality data is essential for a well-functioning reinsurance market, but our research shows current practices fall far short,” Supercede president Ben Rose (pictured above) said. “By shining a light on the issue, we hope to motivate positive change across the industry.”

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Renko Dirksen (pictured above) enjoys his global responsibilities.

“I have the privilege to not only work in Germany but to work in so many different countries and experience so many different cultures and ways of doing the insurance business,” he said.  “That’s really exciting.”

Dirksen is on the board of directors for ARAG, a firm specialising in legal expense insurance (LEI). ARAG has a presence in 19 countries around the world, including the UK. ARAG regards itself as “the leading legal insurer worldwide” and is the largest privately owned insurance company in Germany.

Insurance Business met with Dirksen on his recent visit to ARAG’s Australia business. The operation Down Under was launched a few years ago and Dirksen said he was there to get a feeling for the local challenges and opportunities.

From law school to ARAG

IB asked the board member from Düsseldorf how his insurance career started?

“I remember when I graduated from law school, I found that I did not want to practice as a lawyer or work as a judge or prosecutor, but I did want to get into management and business which was everything I found interesting,” he said.

Dirksen came across a job offering from the ARAG Group – and the rest is history. He became the assistant to the CEO.

Part of the reason for his longevity with the firm, he said, is his confidence in the product which he thinks has “a lot of value.”

“Having a legal expenses insurance policy in your pocket really helps,” said Dirksen. “Then you can pursue your case at every level and go to the highest court to pursue your rights.”

The other reason is, he said, is how an insurance career involves working collaboratively to solve problems.

“At the same time, people energise,” he said. “I really like to work with people to solve problems, to interact with people and my colleagues.”

Dirksen said this makes the insurance business “very exciting because there are so many different people from so many different backgrounds.”

Medical negligence, unpaid bills and corporate scandals

He told IB about some of the ways ARAG’s LEI has helped people pursue their legal rights. The examples included labour disputes, cases of medical negligence and small businesses chasing up unpaid bills.

“We do a lot of clinical negligence cases, especially in the UK,” Dirksen said. “They are very often heartbreaking to be honest.”

However, he said people with ARAG’s LEI insurance have been able to achieve better outcomes and rebuild some sort of quality of life.

“When you see the initial offering from the other side and you see the outcome, then our customers know that it’s really worthwhile to have this policy,” said Dirksen.

One case in which ARAG’s customers were able to pursue their rights made worldwide headlines.

“The diesel scandal, for example with Volkswagen (VW),” he said. “With us the average consumer can say, ‘I’m going to take up the fight and go against Volkswagen’.”

Dirksen said LEI provided individual VW owners with a way to pursue justice against a huge corporate firm.

“In most situations, consumers wouldn’t meet them at eye level – Volkswagen would just outspend them,” he said. “In some ways we are like David´s slingshot against Goliath.”

According to information from ARAG, the firm made payments of approximately €70 million for 36,000 cases in connection with the diesel scandal. The ARAG customers had purchased vehicles from VW and other manufacturers that used the same emissions-cheating device and were able to use their LEI policies to pursue compensation.

More on the VW diesel emissions scandal

In 2016, car maker Volkswagen was forced to recall millions of cars – about 8.5 million across Europe and half million in the US according to a BBC News report – after a car emissions scandal.

VW admitted it was cheating emissions tests and has paid out billions of dollars in costs and penalties. In Australia, the company received a fine from the Australian Competition and Consumer Commission (ACCC) of $125 million, the highest ever imposed by the Federal Court for breaches of consumer laws.

However, years later, VW continues to fight court battles.

In June, a former Audi CEO (VW owns Audi) was handed a suspended sentence of nearly two years for his role in the diesel scandal. According to Reuters, former and current VW managers are still on trial in Germany and there are more than 100,000 diesel emission scandal cases still pending at the highest court alone.

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Allianz and Intact are considering their options where it comes to an Aviva takeover, The Times has reported.

An American insurer is also in the frame, The Times reported, citing City sources.

At least one of Allianz and Intact is said to be mulling a £6 per share proposal for Aviva, according to the report.

Shares in UK-headquartered Aviva jumped on the news, rising upwards of 10% on Friday from the market’s open. However, this dampened somewhat as analysts queried the veracity of market chatter.

Speculation also boosted other FTSE100 insurers, The Times reported, with Phoenix up 2.27%, Prudential up 2.85% and Legal & General gaining 4.11%.

Aviva, which reported rising operating profit of £715 million for the first half of 2023, has trimmed down its operations under Aviva CEO Amanda Blanc to focus on its UK, Ireland and Canada businesses.

Cogent Hire, the specialist in credit hire and mobility, has appointed Luke LeSauteur to the newly established role of commercial director.

Joining the expanding handl-owned business based in Lancashire, LeSauteur is tasked with constructing and launching propositions for insurance clients, particularly in the burgeoning mobility sectors like electric vehicles (EVs).

He has previously held high-ranking positions in credit hire businesses like Enterprise and Auxilis. Before his tenure at Cogent Hire, he founded ChargedRV (CRV) to explore mobility solutions involving EVs in the motor claims sector.

LeSauteur commenced his new position at the start of October, reporting to Kirsty McKno, CEO of Cogent Hire.

“Bringing Luke on board puts us in a good position to take the initiative and move the motor claims needle, particularly with regard to EV,” McKno said. “He has great integrity in our sector and shares our Cogent Hire values of honesty, accountability, transparency, trust, and partnership. I am confident he will apply those values to our EV claims proposition, as we do with all other aspects of our business.”

LeSauteur said that the industry needs to better manage EV from the point of collision and recovery up to repair and total loss.

“Managing EV safely is also crucial, as this will give underwriters more confidence when they price these types of risk,” he said. “Cogent Hire has a genuine commitment to understanding customers’ needs and improving processes in mobility, and this struck a chord with me right away. The team’s passion for raising the bar, combined with its growth potential in the sector, made it a place I wanted to join and contribute to.”

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DUAL Europe has expanded its reach in vital sectors by establishing a new marine team, headquartered in Rotterdam, where DUAL Benelux was founded earlier this year.

Aram Stoop (pictured left) and Pim de Pooter (pictured right) have been tapped to lead DUAL Europe’s marine hub. Initially, the hub will offer coverage for ocean and inland hull, builders risks, cargo, and land equipment. The focus will be on delivering underwriting and claims handling services to the broker community, emphasising technical expertise and efficiency.

Stoop, with over two decades of experience in the insurance industry as a marine surveyor and head of loss prevention engineering, will serve as the head of marine. De Pooter, joining as the lead underwriter for marine hull, brings more than 13 years of experience as a hull underwriter across various products, and was most recently a lead class underwriter for a market-leading portfolio of ocean and inland hull.

“This is a significant step for DUAL Europe. We have always been a natural home for underwriting talent, and we’re delighted that Aram and Pim have chosen to bring their considerable expertise to DUAL. Marine adds a new business line to our European offering and locating our Marine Hub in Rotterdam puts us strategically in the centre of this historically important region, and well positioned to service our extensive broker network,” DUAL Europe CEO Olaf Jonda said.

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The CII and PFS have revealed the winners of their inaugural apprenticeship awards, celebrating outstanding apprentices from various regions in the UK across seven distinct categories. The winners received cash prizes of up to £1000, sponsored by the Education and Training Trust.

The awards tasked nominees to elucidate how they had positively influenced their profession and broader society, citing quantifiable accomplishments, creativity, innovation, and adherence to the high standards of professionalism and trust — aligning with the ethos of both professional membership bodies.

The awards also welcomed participation from apprentices across England, Northern Ireland, Scotland, and Wales, provided their apprenticeship standards and frameworks included completed CII qualifications. Nominations were encouraged from employers, training providers, and the apprentices themselves.

Winners of the respective categories are as follows:

• Insurance Practitioner Apprentice of the Year Winner: George Worby, Daines Kapp Insurance Broker
• Insurance Practitioner Apprentice of the Year Highly Commended: Katie Kent, AXA Health & Rosie Gospage, Brit Insurance
• Insurance Professional Apprentice of the Year Winner: Ryan McAllister, esure Insurance
• Insurance Professional Apprentice of the Year Highly Commended: Dave Hamer, Willis Towers Watson & Chris Allatt, Gallagher Re
• Senior Insurance Professional Apprentice of the Year Winner: Joseph Bryant, Marsh Mclennan
• Financial Services Administrator Apprentice of the Year Winner: Roxanne Hill, Jane Smith Financial Planning Limited
• Financial Services Administrator Apprentice of the Year Highly Commended: Bill Boote, St James’s Place
• Financial Advisor Apprentice of the Year Winner: Emmelia Powell, Premier Wealth Solutions
• Mortgage Advisor Apprentice of the Year: Daniel Jones, Hayden Kilkelly IFA Ltd
• Paraplanner Apprentice of the Year: Heidi Wozniak, Wise Investment

The CII and PFS also underscored their support and the significance of apprenticeships in the insurance and personal finance sectors, exemplified by their Aspire Apprenticeship program, aimed at encouraging employers to embrace these opportunities.

“I would like to congratulate this year’s Apprenticeship Award winners, who should all be very proud of what they have achieved. All the entrants have demonstrated the value they can bring to the insurance and personal finance professions, and I know the CII and PFS are looking forward to assisting in their further development over coming years,” CII president Russell Higginbotham said.

“The entries we received for these inaugural CII and PFS awards have been phenomenal. It is hugely encouraging to see the depth of talent coming into our professions. I’m delighted that we are able to recognise all their hard work and achievements through these awards,” PFS president Anthony Ward said.

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Aviva and mixed-use developer Socius announced today the two have been selected as the preferred bidder to advance the development of the leading cancer research and treatment district worldwide at the London Cancer Hub (LCH) in Sutton, London.

In collaboration with the landowner London Borough of Sutton, Aviva and Socius will work closely with the Institute for Cancer Research, London, the Royal Marsden NHS Foundation Trust, and Epsom & St Helier University Hospitals NHS Trust on this multi-phase development. It encompasses a 1-million-square-foot life sciences district situated on a five-hectare site.

The London Cancer Hub is expected to bring significant social and economic benefits, including the creation of 13,000 highly skilled jobs in health, science, education, and construction.

This marks the latest commitment from Aviva Capital Partners (ACP), Aviva’s in-house capital unit that originates infrastructure assets using Aviva group capital. ACP’s investments contribute to economic growth, job creation, and the provision of essential community facilities.

“Aviva is investing significantly in critical areas of the UK economy such as housing, green energy, and healthcare. We are using our capital to generate long term income for our customers and help the UK to grow. The London Cancer Hub will provide world-class cancer research and bolster the UK’s ambition to be a leader in the Life Sciences sector,” Aviva CFO Charlotte Jones said.

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New Zealand and the UK have inked an agreement to mutually recognize audit qualifications, with the Memorandum of Understanding on Reciprocal Arrangements (MOURA) being signed by UK’s Financial Reporting Council (FRC) and the NZ Financial Markets Authority (FMA).

This agreement follows the free trade agreement signed in February 2022 between New Zealand and the UK, which included a section on recognizing professional qualifications. The aim was to encourage regulators to establish pathways for recognition and eliminate expensive and cumbersome prerequisites.

To facilitate this understanding, the FRC received funding through the Department of Business and Trade’s Recognition Arrangements Grant Programme. This funding enabled an in-depth analysis of the compatibility of professional qualifications in the UK and NZ. It is also part of the government’s initiative to encourage recognition arrangements across all sectors in the UK.

The MOURA outlines a clear process for auditors holding professional audit qualifications in either the UK or New Zealand to seek recognition of their qualifications and audit rights in the other country. Detailed analysis by both the FRC and the FMA was carried out to ensure that the approved qualifications guarantee a level of professional competence equivalent to that of recognized professional qualifications. In certain scenarios, applicants may need to undertake aptitude tests or a period of adaptation.

Robust audits across both nations

The memorandum is also expected to enhance the quality of the audit markets in both the UK and New Zealand by enlarging the talent pool over time. This supports the interests of accounting firms and professional bodies in both nations. The agreement is projected to develop a more robust audit market by encouraging competition and choice and enabling skilled auditors to transition more easily between the UK and New Zealand.

The FRC also announced that it is exploring similar arrangements with other countries that are significant markets for the UK, aiming to expand the audit talent pool, subject to rigorous assessments of qualifications.

“The FRC welcomes this first of its kind agreement which will attract auditors to the UK, strengthen audit relations between the UK and NZ and supports the government’s commitment to recognise professional qualifications internationally,” FRC acting CEO and supervision director Sarah Rapson said. “It ensures a more efficient pathway for senior auditors to work in both countries, boosting access to a wider pool of auditors, while upholding the high professional standards expected of auditors.”

“This agreement will provide an easier route for experienced UK auditors to work in New Zealand and help strengthen the local auditing industry,” FMA CEO Samantha Barrass said. “The FMA is committed to supporting greater alignment of the two countries’ auditor markets through mutual recognition of professional qualifications that set high consistent standards. We would like to thank the FRC for the opportunity to collaborate on this important endeavour.”

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A ream of email evidence left a trail of breadcrumbs that informed a High Court decision that a father and son broking duo, the former owners of insurance broker AFL Insurance, must pay millions in damages due to fraudulent misconduct after misrepresenting company financials during a sales process.

Former AFL owners Alec and Bob Finch were deemed liable for £6.1 million of damages in the recent judgment, which found that the ex-directors had been aware of a £3.5 million client money hole and that sums owed to the company had been misrepresented to former Cooper Gay CEO Toby Esser’s Next Generation Holdings Limited, the 2017 buyer of a 58% stake in the business, in the run up to the deal.

“This email will self-destruct in 5 mins” – AFL emails showed client money issues

“This email will self destruct in 5 mins.”

This was how former AFL CFO Keely Dalfen signed off a 2011 email in response to a request to her boss Alec Finch, then chairman and director, AFL.

Alec Finch’s email had come as the company had insufficient funds to meet expenses. In a proposal “borne out of expediency” to Dalfen, who appeared to oblige based on correspondence, he suggested drawing down receivable commissions and fees from client accounts to “cover our needs over the next week or so”.

“I will then make arrangements in September to rectify the position if those commissions/fees are still, by then, outstanding,” Finch said.

“… potentially I could get kicked out of the Institute if they found I had done it with intent. I think we should cover our backs and make sure it’s a one off,” Dalfen wrote in an email that followed.

Dalfen, who was found not on the hook for damages, testified for the claimant in court. Her evidence, which the judge frequently found was backed up by email correspondence, played a key part in informing the multi-million-pound ruling.

“I have done a client money so that there is enough for salaries tomorrow but have had to do the inevitable and take some commissions early again from the USD account,” Dalfen said in a 2012 email to Alec Finch.

By September of that year, the CFO emailed both Alec and Bob Finch to say that she had transferred money between accounts to “balance the books” and to cover a £15,000 office account shortfall that could have otherwise been flagged with credit “which we don’t need”.

“Its all wrong, but we cant afford to fund it,” Dalfen wrote. “It also means that I cant transfer legitimate commissions from the accounts into the office account.”

Two months later, in December 2012, Dalfen again contacted Alec Finch regarding client money, and whether it should be put to other use.

“Re the cash we had in £26k from Prime Global on Friday which is one of Javiers, our commission is £3k shall I ‘borrow’ £20k of it?” Dalfen asked.

By 7 June 2013, things were looking even direr for the business’ client money situation, correspondence suggested, with Dalfen writing that the business was “in a worse situation with client money now than before (which was 294k euros).”

A September email from the then CFO to Bob Finch took a more hopeful turn – “If we can keep the momentum … then things are moving in the right direction and we can sort out the client money, pay HMRC and get back on track.”

But by October, Dalfen warned that the business was “struggling for cash” so badly that she would not have enough for wages the following week.

“However please do not worry as there is nothing you or Bob can do and I will make sure that come next week there is enough in the office account to cover it,” Dalfen wrote.

By June 2016, the tone was more frantic, as Dalfen again appeared to acknowledge the risk to herself of continued client money use.

“I’m putting my neck on the line and could get into serious trouble by propping the business up and using client money”, Dalfen said in an email to Bob Finch that month.

Things did not appear to have improved by the following year, in which NGHL took its majority stake, according to the email evidence.

“London Market department is ‘paying’ back for the years where we have booked income that has never materialised and now we have a black hole accounting issue. … the income generated from the dept is going towards repaying a deficit that they have built up over the last 5 years,” Dalfen told Bob Finch in May.

AFL was also contending with an unpaid tax bill, stretching back to 2014. In October 2017, HMRC demanded payment. Less than two weeks later, a payment to HMRC coincided with an £80,000 transfer from AFL’s client money account to its office account.

Member of staff identified “massively inflated” accruals

“Clear and detailed evidence”, in the words of HHJ Johns KC, showed that false accruals were being used as a mechanism to continue client money transfers.

“It … eventually became clear to me that Bob was doing this spuriously and there was no justification for the accruals being made in the first place,” Dalfen alleged in her first witness statement.

One member of accounting staff referred to these accruals as “massively inflated” in a June 2017 email. The judge found that in cases accruals valued as hundreds of thousands of Euros had been made with “no proper basis”. 

Auditors kept in the dark on AFL money issues, emails suggest

Auditors failed to spot the client money “black hole”, and while a report was available that might have led to them uncovering the problem, email evidence showed this was not shared.

“It already exists in TAM but he can’t have it and I won’t let him access it because it would just unveil the extent of the financial black hole,” Dalfen wrote in June 2016 regarding her refusal to allow access to a member of the firm’s broking team. “I don’t even let auditors get to that level of transparency.”

“They are rubbish Alec, however that is a good thing!” Dalfen wrote of the auditors in a 2018 email.

“That’s not true” – AFL debtors misrepresented in sale run up

The judge also found that the amount of money owed to the company had been misrepresented in the run up to the NGHL deal.

“I get the impression that [the buyers] think we have cash tied up in old debtors and the problem is credit control,” Dalfen wrote to the Finches in August 2017.

“That’s not true”, she continued, identifying £1.4m of unpaid brokerage in debtors but only around £200,000 of uncollected brokerage “to actually go after – and this will pay for this months wages and rent and that’s about it.”

Fraud rumbled following an investigation by CFO replacement

Ultimately, according to court documents, the alleged fraud was rumbled following an investigation by Chris Gagg, who replaced Dalfen as AFL CFO around a year after the £2.1 million transaction. However, this was not until NGHL had invested a further £2.6 million in the business, parts of which have since been sold with the remainder in solvent wind-down.

In reaching a decision that Dalfen should not pay a portion of the £6.1 million damages, HHJ Johns KC said he had considered that she was a salaried employee acting at the “behest” of the Finches and that the latter were “ultimately responsible” for client money compliance.

It was the Finches, rather than Dalfen, that benefited from the “wrongdoing”, with Alec Finch selling his shares at an “inflated price” and Bob Finch also a shareholder, the judge found. Meanwhile, Dalfen was earning around £40,000 per year, Bob Finch was on around £150,000 or £160,000, another that was considered.

“I also consider the moral blameworthiness of KD is reduced by her coming clean and helping NGHL and AFL obtain the redress to which they are entitled,” the judge said. “But even without that, and overall, the Finches were very much the principal players in, and beneficiaries of, the fraud.”

The ruling is subject to appeal.

“Unlocking Innovation: The Power of Inclusion” – the theme of the 2023 Dive In Festival perfectly captured the mood of the insurance market as thousands of professionals across the globe joined together to celebrate the ninth edition of one of the key dates in the diversity equity & inclusion (DE&I) calendar.

Though officially concluded for another year, the topics, takeaways and lessons imparted through the festival will continue to shape narratives, objectives and strategies across the market. This is the fundamental ambition behind the initiative, noted long-time Dive In champion and international director of external affairs and media relations for Marsh, Jason Groves (pictured) – to have a material impact on attendees and the corporate agendas they help to shape.

CPD accreditation and Dive In 2023

It’s an ambition exemplified by the news that the entirety of the Dive In Festival 2023 now qualifies for CPD accreditation. Delivering the update in an exclusive interview with Insurance Business, Groves highlighted that not only does its programme of events now qualify for CPD with the Chartered Insurance Institute (CII) in the UK but also the Institute in the US, the Chartered Institute of Nigeria, the Insurance Institute of Kenya, the Trinidad and Tobago Insurance Institute, and the Indonesia Insurance Institute – with sights already set on expanding this roster.

“From the outset of Dive In, we’ve tried to make this very practical,” Groves explained. “It’s not just about people sharing experiences – as nice and as important as that – it’s also about giving people food for thought about what they can do to take things back to their organisations and make a difference to their teams.

“We have always set out with our themes and when we’re asking people to put events together, to think about how we can give practical tips to people to help them change their teams, workplaces, companies and ultimately, through that, help change the culture of the insurance industry. I think this recognition by the CII and other professional bodies around the world is testament that we’ve been successful in that.”

The changing culture of insurance

If you look at the culture of the insurance industry, not just in London, but globally, he said, you can see how it has shifted and evolved to become not just more diverse, but crucially also more inclusive. Topics including neurodiversity, women’s health and domestic violence which were previously championed only by a few bold pioneers are now sparking consideration, conversation and change across the market – and Dive In has played a critical role in making this happen.

“Dive In is all about the ripple effect,” Groves said. “It’s not just about the event but how the people who attend – and many of these events attract several hundred attendees – take what they’ve learnt away and action it. And we’ve seen that repeatedly over the last nine years.”

With the tireless help and support of the CII and the other professional bodies that have thrown their weight behind this CPD accreditation development, the ripple effect of the Dive In Festival is poised for significant growth. He highlighted that almost all the event’s sessions will be available on catch-up on the Dive In Festival website before moving over to its YouTube channel – which has proven a popular resource in recent years.

Groves strongly encouraged insurance professionals to make use of these resources, not just as a way to bring actionable practices to bear within their own organisations – but also as a great way to earn CPD. Making the accreditation process happen has been the product of the time, energy and passion of a multitude of people across the Lloyd’s team, the CII and the broader global insurance profession, he said, and he’s deeply proud that they were able to make this happen.

The link between inclusivity and innovation

Hailing the “tremendous success” of Dive In 2023, he highlighted how the theme of the festival has resonated among attendees. The link between inclusivity and innovation has struck a chord with so many across the market, he said, perhaps unsurprisingly, considering the quite daunting complexity of the current risk environment and the role innovation plays in helping the industry support clients through the myriad of challenges they face.

“I think the general consensus of this week’s Dive In Festival is that inclusive workplace cultures make coming up with that innovation so much easier,” he said. “This is a diversity and inclusion agenda that is completely linked to business success, which I think is why it’s resonating so well. And it’s so interesting when you decide on a theme and then you tune into the events and hear people talking about innovation and inclusivity – and you realise it resonates all over the world.”

It’s fantastic to be able to share the news about Dive In’s CPD accreditation partners today, Groves said, and he’s looking forward to welcoming many more insurance professional bodies to signing up for CPD accreditation status so that no matter where you are in the world, you can earn CPD points through Dive In. Looking to the future and the upcoming 10-year anniversary of the festival, he voiced his hope that it will be the biggest yet as well as an opportunity to reflect on the progress made by the industry and to consider where it goes next.

Taking stock of Dive In 2023, Groves expressed his warmed thanks to the organisers, attendees – and most of all the volunteers who made it such a roaring success.

“I want to thank the 500-plus volunteers that have helped put together all these events,” he said. “We say quite glibly that there’s around 130 events but every single one of those requires the most extraordinary amount of work and dedication to put together. So, I want to thank every single volunteer for the care and effort they’ve gone to in order to make every single session really fantastic – and something people can take something positive away from.”

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