As the team heads into 2022, Carbon Founding Partner and CEO Nick Tye shines the spotlight on the elemental transformation the team is bringing to the global Coverholder market and their hatrick of ambitions for the year ahead
We’ve come a long way since Carbon Underwriting first launched as a Syndicate championing our new approach for the market. In fact, our mission of embracing technology to deeply enrich what we and our clients can achieve has been so warmly embraced that we have never been more certain of our timing or our strategy. I wanted to reflect on what we’ve learnt in the last year, and what 2022 heralds for us and our market.
Firstly for the Carbon team – the single most important part of our business. It goes without saying that 2021 was not without its fair share of challenges in the world but I am so proud of how our team has stuck together and welcomed the many talented new staff members who have joined us over the last 12 months.
It is a tough environment for anyone to find a new job and to settle with the challenges of remote working and uncertainty and upset caused by this awful pandemic – and I applaud the way we have all pulled together to support each other.
So what will 2022 hold for the Carbon team? I think exceptional people emerge in exceptional circumstances – and this has certainly been the case for the Carbon team over the last year, and this culture will continue into the future. We will continue to grow in all corners of the business, from new data and technology experts to advance our in-house technology ecosystem, Graphene, as well as adding fresh underwriting and operational talent.
We are on the lookout for entrepreneurial people who think differently, who aren’t afraid to speak up and share ideas, and who enjoy what they do. In return you get to work with some of the most talented people in our industry, people I am privileged to work alongside and learn from every day.
How about technology in 2022? We spent a lot of time these last 12 months talking to the market, getting feedback and exploring ways in which we can further enhance Graphene, including significantly expanding the core team developing this advanced underwriting technology. Our mission for 2022 is to enhance raw risk data across the market – delivering better underwriting outcomes for our business partners.
A key part of this goal is to nurture an ecosystem to enable seamless and instant transfer of data combined with predictive analytics, advanced search capabilities and enrichment of the core dataset with insightful external data – then we have a very exciting and busy time ahead. Ultimately, Graphene is on the path to becoming the single source of the truth in the Coverholder risk chain.
Expanding Carbon as a business in 2022: Finally, fuelled by our fresh capital investment, Carbon Underwriting is embarking on an ambitious growth strategy as an independent managing general underwriter and Lloyd’s syndicate in 2022. We will continue to assess and attract new capacity providers to support our international MGA partners in bringing new, profitable business into Lloyd’s.
Our model of being true partners to our clients is a key pillar of this strategy – as a binder only lead market, we engage with significant partners with whom we can create a real and tangible benefit to their underwriting results and business.
Ultimately, we view our Coverholder partners as local branches and will continue our drive to improve the quality and sophistication of the business and assist with their modernisation initiatives too.
Watch this space – 2022 is set to be another exciting year for the business and there will be plenty of updates to come.
But for now, I want to express my gratitude to the Carbon team, to our partners and our friends in the market for your exceptional good humour, support and hard work over the last year – Thank You.
Please contact our team to discuss how our services can enable your business to grow.
Carbon Underwriting is a trading name of Carbon Underwriting Limited which is an appointed representative of Davies MGA Services Ltd, a company authorised and regulated by the Financial Conduct Authority under firm reference number 597301 to carry on insurance distribution activities. Carbon Underwriting Limited is registered in England and Wales company number 11193856. Registered office at 7th Floor, 1 Minster Court, Mincing Lane, London, EC3R 7AA.
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