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Underwriting » Crisis Management » Trade Disruption
In today’s modern world, securing supply chain dependent income is as important as protecting a company’s fixed assets or equipment. The financial impact of essential goods arriving late or not at all can be huge, with such exposures typically going uninsured by traditional Property & Casualty covers.
Our dedicated underwriting team creates bespoke Trade Disruption solutions for everyone from SMEs to large multinationals. However big or small your company, our streamlined products and swift claims process mean we can help you recover quickly after a disruption to your operations.
For general questions feel free to ask the team directly via email at their team inbox.
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After a graduate role in risk management with a FTSE10 company, I spent eight years as an underwriter with the Munich Re Group, most recently setting up a Special Risks account at Munich Re Syndicate at Lloyd’s. I’d moved into strategy consulting when the Convex role came up; I was ready to get back into underwriting, but only if I could do something different.
I’d read and heard amazing things about Convex, which have all turned out to be true. The culture is really strong and collegiate, with a focus on collaboration across lines and departments. The flat structure allows us to be flexible, nimble and make decisions quickly. We’re geared up to ingest, manage and analyse data at every stage of the underwriting process, whilst interacting with our clients in the most efficient way possible. And the calibre of individuals that we have all the way through the ranks and across the business is second to none. My colleagues continue to inspire and impress me on a daily basis which is incredibly motivating.
The delivery of goods to a customer can often be the weakest link in the supply chain. Goods can be damaged, delayed or destroyed altogether, compromising your customer’s business and often resulting in contractual penalties for yours. Our Trade Disruption Contractual Indemnity (TDCI) product can help protect your business from the strain these penalties pose.
Trade Disruption is a dedicated team within Crisis Management, but there is a lot of overlap with other teams – from Marine and Energy, to Aviation and Political Violence.
This means we can dedicate the time, resource and underwriting expertise to finding the most meaningful solution for each client, at the right price. And as there’s no market-standard wording for Trade Disruption, each solution really is unique. We try to streamline our products as much as possible, ensuring clarity and comfort for the client. This means that if you do need to make a claim, the process will be as efficient and straightforward as possible.
Finally, as is the case across Convex, we are looking for ways to use data and digital technologies to improve our offering to clients and brokers alike. In the future, this will include exploring the merits of parametric triggers, as well as leveraging the Internet of Things to provide real-time data on supply chain interdependencies and goods in transit. It’s early days but approaches like this will help us to create more precision-targeted products, at the best possible price for the client, whilst removing any friction at the claims stage.
Head of Crisis Management
Senior Underwriter – Crisis Management
Underwriter - Trade Disruption, Crisis Management
Underwriter - Crisis Management
Senior Underwriter - Contingency
Class Underwriter - Contingency
Underwriter – Crisis Management
Underwriter - Contingency
Trainee Underwriter - Crisis Management
Head of Marine & Specialty Claims, Claims Manager Europe, Claims Leadership Team
We use our lack of legacy processes and liabilities to take a proactive, data-driven approach to developing the right cover, for the right clients.
This means we actively look for gaps in cover between sub-classes, and offer products or wording to sit across them. We remove those gaps and transfer the risk, rather than it sitting with you, the client or broker.
We’re also on the front foot with our clients, brokers and the wider market. For example, just because the market ascribes a certain value to a risk, doesn’t mean that’s its value.
We use Convex’s unique data and analytics platform to test what our 50 years of combined experience tells us. By comparing the risk with other, similar ones, we can develop our own view, backed by relevant data. As a result, we can be price givers, not price takers – and our clients and brokers can trust we’ve arrived at the right number.
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