Simon Williams, Chief Strategy & Distribution Officer for Arch Insurance International, talks to The Insurer TV for their ‘Close Quarter’ programme.
During an in-depth conversation, Simon addresses a range of topics including market dynamics in key growth areas, how Arch looks to differentiate itself in an increasingly competitive environment, as well as the evolving digital landscape and how it’s impacting product, placement and distribution strategies in the London Market.
Simon highlighted the investments made in people, underwriting, claims, technology and analytics, which have contributed to Arch’s “significant growth” in recent years and relevance in the market.
“We’ve made a lot of enhancements to our business. We want to make our platforms as easy to access as possible and have now got more relevance which is hugely important for us.”
He also recognised the importance of clarity of appetite when establishing lead market positions across target lines such as Casualty.
“You can’t do everything. Once you become clear on your appetite, you can articulate that to your brokers and customers and then there are opportunities. There are areas within the casualty book where we can certainly lean into more, but it’s not going to be every single type of casualty.”
Commenting on the competitive marketplace, Simon identified Arch Insurance International’s Pursuing Better Together® brand promise, agile and solution-led approach to service, as well as the financial strength of its global parent company, Arch Capital Group Ltd., as key drivers of value and differentiation.
Closing the interview, Simon turned to the rapid digitalisation of the London Market and the opportunity it presents for driving greater efficiencies and best-in-class solutions for customers.
“It doesn’t matter which side of the fence you’re sitting on, either the carrier side or the broker side, it will be a better experience for the customer, which is the most important part of the equation.”