Sam Hooper – New Business Operations Manager, Miles Smith

We recently caught up with our New Business Operations Manager, Sam Hooper, from our wholesale broking pillar, Miles Smith.

In this spotlight, Sam shares how her career has evolved, including how SRG’s High Potential Programme (HiPo) helped shape her leadership journey, insights on navigating her return from maternity leave and her views on the ever-evolving insurance landscape.

When did you join Specialist Risk Group (SRG) and can you give us an overview of your role and how it has developed since?

I joined Miles Smith in 2016 as an Account Handler for waste renewals. After just 10 months, I was encouraged by my managers to pivot to the New Business team, which has defined my career trajectory ever since.

My responsibilities have evolved from placing risks for nightlife, leisure and entertainment to tackling more complex challenges including high-risk liability and property cases with issues like poor construction.

Upon returning from maternity leave in December 2021, I spent two years shadowing my manager Sam Churchman, as the plan was for me to take on a more senior role, taking over his responsibilities of managing the team and everything that comes with that. In December 2023, I was then officially promoted to New Business Operations Manager.

As New Business Operations Manager, my primary focus is to ensure the wellbeing and productivity of the New Business team. This involves regularly checking in to make sure they are comfortable with their workload and redistributing tasks if necessary. Though managing a team comes with its challenges, I find it immensely rewarding to nurture my colleagues, helping them to realise their full potential and excel in their roles.

On a daily basis, I provide support to the Director and oversee the management of risks from retail brokers. This entails engaging with brokers, managing quotes with underwriters and facilitating the process of placing the cover. I also manage the administrative tasks that accompany these activities to ensure everything runs smoothly and efficiently.

How did you get into the world of insurance?

My journey into the insurance industry kicked off when I was just 20 years old in a claims role where I gained experience in personal lines, particularly motor insurance. I started to feel the urge to progress and elevate my career and whilst speaking to a friend, she suggested I transition into commercial insurance as an Account Handler. Since venturing into the world of wholesale broking, I have found myself among like-minded individuals and I have really been able to grow and develop in my career.

Can you tell us about your experience of HiPo?

I was part of the first HiPo cohort in 2020 but I soon fell pregnant so once returning from maternity leave, I re-joined the second cohort in October 2022.

Throughout the programme we had six workshop style sessions with Mind Gym where we delved into various topics including transitioning from being a buddy to a boss, exploring different management styles and building trust in leadership roles. Additionally, I was paired with an external mentor who I met with monthly to discuss challenges and seek advice. We’re still in touch now, she is such a lovely person, and our meetings have been really beneficial.

One part of the programme that I hugely valued was the 360-degree feedback exercise where colleagues in the Group shared insights on my strengths and areas of improvement. This was so interesting and helped me gauge my progress more effectively.

HiPo allowed me to build a network of like-minded colleagues across the Group who I don’t typically get to work with day to day, but we can connect over shared experiences. I have truly made friends for life out of the programme.

“Providing empathy and support is paramount to me, whether it is by offering professional guidance or simply lending a listening ear.”

Specialist Risk Group, (SRG), conference and gala dinner, comm by Jerri Howlett
What do you enjoy the most about your role?

My favourite aspect of my role is undoubtedly the team dynamic. We share plenty of laughs and offer each other unwavering support. Every day presents new learning opportunities for the team as we encounter a diverse range of risks.

I take pride in building an atmosphere where my team feel comfortable asking questions, no matter how trivial. Providing empathy and support is paramount to me, whether it is by offering professional guidance or simply lending a listening ear.

What trends are you experiencing/observing in the insurance market right now? Would you be able to provide your insight on them?

Recent industry updates have prompted significant shifts in the insurance landscape, particularly following incidents like the Grenfell tragedy. Lloyd’s has taken on a more prominent role as composite insurers are becoming increasingly cautious about accepting risks associated with cladding. This cautious approach has led to a tightening of the market, making it more challenging for professionals and businesses to secure coverage, especially for liabilities related to scaffolding risks and roofing.

Additionally, external factors such as Brexit, the ongoing effects of the COVID-19 pandemic, geopolitical conflicts in the East, and inflationary pressures have collectively contributed to rising prices across the industry. These factors have heightened uncertainty and impacted the cost of insurance, presenting additional challenges for professionals and businesses alike.

To date in 2024, I have observed a notable trend in the industry where composite insurers are opting to cover only 50% of the risk. This scenario often arises when they offer a first loss limit. However, where insurers only offer a 50% lead, it’s difficult to win the business as some clients choose to remain uninsured and accept the first loss limit, banking on the likelihood of avoiding a total loss.

Despite this, I have seen a resurgence in queries from roofers and scaffolders thanks to recent success of our High-risk Liability facility at Miles Smith. While the New Business team occasionally encounter cases with a poor claims history, it’s become increasingly important for retail brokers to engage clients in discussions about risk management to mitigate potential issues.

Looking ahead, I anticipate the insurance landscape will continue to present challenges, with the market likely becoming more stringent as we approach the end of the year. I am however optimistic about the opportunities that lie ahead, and I expect to secure a steady stream of quality cases, even as the industry becomes more challenging to navigate.

What is one piece of advice you wish someone gave you at the beginning of your career?

Everything happens for a reason. If I knew this when I was younger, I wouldn’t have given myself such a hard time for any mistakes I made. All of these things are meant to happen for you to learn and grow.

What is your favourite thing about working at SRG?

I feel really grateful for the company’s maternity package and the support I was given during my return from maternity leave. I knew I would need flexibility on my return, which they agreed to, making it so much easier for me. I also really enjoy the exposure you get to the leadership team, particularly through programmes such as HiPo, and all the opportunities in the business.

What three words would you use to describe working at SRG?

Supportive, social and ambitious

 

Interested in finding out more about life at SRG? Click here.
SRG Summer Party, Koko, comm by Eleanor Bridger
Specialist Risk Group, (SRG), conference and gala dinner, comm by Jerri Howlett