Interview with Nicola Stacey, Chief Underwriting Officer, Chaucer. April 2021, conducted by Ben Bolton, Managing Director, Gracechurch and Ellé Spearman, Marketing Manager, The Insurance Network. Article by Kayleigh Pitt, Head of Commercial, Gracechurch
In light of the Gracechurch London’s Leading Underwriters (LLU) report being released, we contacted Nicola Stacey, Chief Underwriting Officer at Chaucer to gain insight on how they empower their teams to take strides in underwriting performance and to understand what has led to Chaucer consistently achieving prominent rankings within multiple classes of our LLU report.
In this interview, Nicola shares insight into how Chaucer are changing their internal culture to encourage more diverse talent and provide a multi-faceted approach to developing that talent. Nicola demonstrates that this is not about looking good on paper, it’s because building a flexible, resilient, and open-minded workforce that has diversity of thought will bring commercial success.
Beyond financial results, we have found that companies are increasingly deploying ‘softer’ performance benchmarks including Net Promoter Score, reputational (brand) strength, service standards and quality of workspace – as all of these elements also impact the bottom line.
Nicola lucidly explains Chaucer’s 6 key elements to improving culture and a diverse workforce. She says:
“If you only employ people that are clones of yourself, then you're only ever going to think about things in a certain way. And if you want to really make change, it's important that you employ people from all walks of life so that you can change that.”
The proof of the diversity pudding is in the eating… having the courage to take a diverse range of ideas from a supported and nurtured team, like Chaucer, leads to better underwriter-broker relationships, increased efficiency, innovation and collaboration – reflected time-after-time in the results in Gracechurch’s benchmarking reports.
Watch the full video here: