Patrick Tiernan Chief of Markets at Lloyd’s has the broadest job description of almost anyone in insurance.
He is responsible for whole abstract ideas such as ‘Underwriting’ and ‘Distribution’ at a vast global insurance marketplace which can make it sometimes hard to know where to start.
My job as a journalist is to take the abstract and turn it into something really specific and so listening back to today’s interview I must admit I was sometimes a bit annoyed with myself for not diving into every secondary and tertiary line of questioning that our discussion was throwing up.
But then I decided to stop beating myself up.
There was so much to talk about.
With unlimited time we could have done a series of at least five separate podcasts.
The unanswered questions are there to be asked next time in subsequent encounters. Always leave them wanting more…
But what this interview is - is a really useful walk around one of the biggest jobs in insurance and an introduction to the person tasked with taking that role on.
We get to know a little of what makes him tick and there is enough here to get a feel for what sort of reign Patrick’s is going to be over number 1 Lime Street, London, in the coming years.
Patrick is incredibly accessible and transparent and comes across as a very level-headed, logical, thoughtful and reasonable person.
It is clear he has already listened to what the market wants and thought very deeply about what needs to change to keep Lloyd’s relevant, influential and competitive in the future.
He isn’t top-down or dictatorial and with perhaps the exception of when he talks about sustainable underwriting profitability across the cycle, he doesn’t seem in any way dogmatic.
He’s also a great communicator and his delivery is laden with considerable Irish wit and charm. It is very hard not to like him.
As a first portrait it’s a broad-brush one, but I think listening to this podcast will give you a good idea of the big picture
LINKS
We thank our naming sponsor AdvantageGo - enabling an enterprise view of exposure:
https://www.advantagego.com/
We also thank Claims Direct Access (CDA) and Bolton Associates for their support today:
https://www.claimsdirectaccess.com/
https://www.bolton-associates.co.uk/
Ep 111 Rinku Patel CEO Pine Walk Capital: helping underwriters be in their last job
Ep 110 Rick McCathron President, Hippo: A path to profit, but on our own timeline
Special Episode: Seeking quality premium in motion with Madhu Tadikonda, President, Corvus Insurance
Ep 109 Bronek Masojada: Just the same, but completely different
Ep 108 John Cavanagh Beat Capital Partners: Building a perpetual business
Ep 107 David Walsh and Graeme Newman of CFC Underwriting: Build your own
Ep 106 Lucy Clarke President Marsh Specialty and Global Placement, Marsh: Enough is enough
Ep 105 David Flandro: Secondary perils driving just about everything at 1.1
Ep 104 David Ibeson Apollo: Success brings the right to remain independent
Ep 103 Adrian Cox CEO Beazley: No natural endgame to where we can be
Ep 102 John Fowle CEO Chaucer: A great time to be someone‘s growth engine
Ep 101 Caroline Wagstaff CEO The LMG: Always a campaigning body
Ep 100 Sian Fisher CEO The CII: The strategy is already on the wall
Ep 99 Mark Wheeler Mosaic Insurance: No Exit Plan
Ep 98 Richard Watson CEO Inigo Insurance: Low ego and high collaboration
Ep 97 Stefan Golling: If we don’t achieve our margins now why should we stay?
Special Episode: New Trillion dollar markets wherever you look. How insurtech can improve climate resilience with Robert Lumley and Stephen Brittain of The Insurtech Gateway
Ep 95 Jean-Paul Conoscente CEO Scor Global P&C: True partnership isn‘t about being accommodating
Ep 94 William Spiegel Executive Chairman R&Q: Prospering as the insurance ecosystem comes apart
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