21-08-2020
Our clients see a value in partnering with an insurance broker, often because of the complexity of their risk and the necessity of a tailored approach, Mr. Jonathan Pipe,CEO, Anviti Insurance Brokers Private Limited in conversation with our Editor in Chief Mr. Vivek JAIN.
Insurance AlertssMr. Jonathan Pipe,CEO, Anviti Insurance Brokers Private Limited
Mr. Jonathan Pipe is the CEO of Anviti Insurance Brokers Private Limited, a Catamaran company. Anviti is a composite insurance broker delivering insurance and reinsurance broking services to corporate firms in India. In his current role, he is leading Anviti to develop and strengthen key client and insurer partnerships.
Mr. Jon has over 15 years of experience in delivering risk solutions to protect balance sheets across a spectrum of industries, ranging from single office presence to global companies with over 500,000 employees across 200+ countries. He has worked within the London, Hong Kong and Indonesian markets before relocating to India in April 2019.
Prior to joining Anviti, Mr. Jon was working with Aon, a leading global professional services firm providing a broad range of risk, reinsurance, retirement and health solutions. He has worn multiple hats at Aon, starting as a Graduate Trainee before progressing from Account Executive in London through to Regional Director in Asia. Most recently Jon was Head of Specialty and Technical Advisor, leading Aon's focus and strategy in Indonesia for delivering risk and insurance solutions to key Specialty industries including Energy, Mining, Construction, Power, Infrastructure, Marine, Aviation and Financial/Professional firms.
Jon completed his M.Sc. in Insurance and Risk Management with distinction from Cass Business School, London in 2009. He is an Associate of the Chartered Insurance Institute, UK and has a B.Sc. in Economics and Econometrics from University of Bristol.
Q. Insurance companies are into stress how you think this will affect your business?
As an insurance broker we support clients and help them choose the most appropriate insurer security for their risk. If the financial strength of a certain insurer deteriorates then this may create an opportunity for those with stronger balance sheets to differentiate themselves. Ultimately, we want to ensure that our clients’ risks are underwritten by insurers who have the ability to pay for claims arising in the future.
Q. What kind of challenges have you faced in the last 5 months?
Operationally, we transitioned to our new operating model with relative ease, our engagement with clients and insurers has continued successfully and we have continued to on-board new colleagues despite the restrictions in place. The main challenge, however, has been in ensuring a seamless positive employee experience through a period of uncertainty. Our first and foremost goal was to ensure the safety of our colleagues, and after that, we turned our attention to making colleagues comfortable in their new environment so that they can continue delivering the best results for our clients.
Q. What are the challenges you anticipate for the next 7 months?
Firstly, working with stakeholders across the industry to ensure that we adapt to situations to provide relevant solutions in a different-looking risk environment. Secondly, helping clients implement an insurer strategy to navigate a changing insurance market where risks are becoming more difficult and costlier to insure.
Q. Do you think online sales will take over traditional sales in the next 3 years? 1) If Yes, Why? If No, Why?
In the corporate client space that we operate in, I do not see online sales replacing traditional sales. Our clients see a value in partnering with an insurance broker, often because of the complexity of their risk and the necessity of a tailored approach. That value proposition can and must be supported through technology, but I do not see online sales displacing the traditional interactions we have.
Q. Where will the growth come from in your company?
We believe we are positioned well to grow through clients that see their insurance broker as a partner in risk management and see value in our ability to deliver technical expertise and data-driven insights for their risks. COVID-19 is a reminder of the volatile and complex world we live in, and that there are numerous aspects to a successful risk management strategy, of which insurance is just one part. We are particularly excited to see increased conversations with clients around employee wellbeing, and extending our expertise to them.
Q. How many Covid-related claims your company has received so far and how many have been paid?
We provide health insurance solutions to corporate clients and have dealt with a large number of COVID-19 related claims, many of which have been paid already.
Q. Which product do you think will do well in the next 2 years and why?
Several solutions continue to have potential. Cyber risk mitigation continues to be a key discussion with clients, and we anticipate cyber insurance will have a growing place in our clients risk transfer portfolio. Non-damage business interruption is a likely area for growth as the industry looks to address the shortcomings of the current business interruption solutions typically available in India. Health and wellbeing solutions will also continue to develop to meet the insured’s changing needs.
