Acasta Europe’s Portfolio Growth Has A New Underwriter

Looking at the various paths that people take through the field is the best way to see the full range of opportunities that a career in insurance can open up. Teifion Scrivens (pictured), who joined Acasta Europe, a UK service provider specializing in bespoke scheme underwriting, earlier this year, said the “too good to refuse” job was the culmination of his years of insurance experience.

Scrivens told Insurance Business UK that he got into the insurance business in an unusual way: a springboard diving friend recommended him to cover maternity in Haywards Heath for a company called Europ Assistance, which works all over Europe.

“While I was there, I learned the ins and outs of underwriting for travel, car trouble, and home emergencies,” he explained. He was then promoted to senior underwriter. “Fiona McDonald, the head of underwriting, relocated to Crawley to launch ROCK Insurance’s underwriting branch, OPERA Underwriting.” She asked me to relocate and take on the role of underwriting manager, where I would work closely with claims and assistance companies, capacity providers, and clients.

At OPERA, Scrivens was in charge of travel and travel insolvency. He was also in charge of auditing both claims and assistance companies, as well as ensuring that the portfolio was profitable and serving as the client’s go-to expert. He then moved to sunny Gibraltar, where he worked as a motor insurance claim analyst for Skyfire Insurance, he said. He then returned to his roots in underwriting by joining UK General in Leeds.

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“At UK General, I managed a team of underwriters and was in charge of a wide range of products, including travel, wedding, and event insurance, as well as motor ancillary, cycle, and gadget insurance,” he explained. “I finally decided it was time for a change, and Acasta made me an impossible offer.”

Scrivens is now in charge of Acasta Europe’s underwriting management. He is in charge of ensuring that new and existing products are designed, priced, and implemented. He also monitors the company’s product portfolio to ensure it meets its objectives and manages a team of underwriters to help them grow and improve. He also stated that this will entail reporting to the board as well as developing strong relationships with the current capacity provider, existing clients, and potential new business partners.

Scrivens and his team have a lot of work to do in the second half of 2022, but the most important thing is to maintain good relationships with Acasta Europe’s existing partners while also maintaining a profitable portfolio of business. He stated that, as with any business of this type, the team desires a diverse portfolio and will ensure that it is diverse enough in the future to weather any potential storms.

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“Right now, the main topics of conversation are inflation and the cost of living crisis,” he said, referring to the market conditions that drive Acasta Europe’s strategic goals. “As we set prices for the next three to five years, we need to make sure that we will make money in those years.

“Inflation has a significant impact on this because we need to ensure that we are profitable, that we care about our customers, and that we can pay claims in the future while keeping our products affordable.” It is pointless to create a product that does not fit the market or cannot be purchased by the majority of people.

He stated that Acasta Europe works closely with its broker partners because it recognizes the importance of brokers to its success. As part of the group’s commitment to them, the team works closely with its brokers to ensure that their needs are met and that they are educated and informed about the business and the decisions that are made.

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“It works both ways,” he explained. “It’s critical that our team understands not only what our customers want, but also what our clients want.”

Acasta Europe’s overall goal for the coming year, according to Scrivens, is to have a portfolio that is both profitable and diverse, as well as to grow both its team and its portfolio. He stated that the company should maintain close relationships with its business partners as well as a portfolio of existing and new clients who understand their market and the issues that customers, capacity providers, and claims partners face.

“Our plan is to expand our current lines of coverage for electric vehicles, such as GAP and warranty, and to develop our wedding insurance so that we can offer more levels of coverage for different budgets and events,” he explained. “We’re also looking into new product lines like travel and gadgets, and we recently launched a cycle insurance program that we want to expand and improve.”

“We can look at a wide range of businesses because we are a custom underwriter and have a good relationship with our capacity provider.”

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