{"id":6035,"date":"2023-09-25T08:09:08","date_gmt":"2023-09-25T07:09:08","guid":{"rendered":"httpss:\/\/www.advantagego.com\/?p=6035"},"modified":"2025-04-08T07:45:05","modified_gmt":"2025-04-08T07:45:05","slug":"new-podcast-with-tim-gardner-and-bob-bisset-from-lockton-re","status":"publish","type":"post","link":"https:\/\/www.advantagego.com\/en-us\/content\/new-podcast-with-tim-gardner-and-bob-bisset-from-lockton-re\/","title":{"rendered":"Building a challenger broker"},"content":{"rendered":"\n<p><iframe title=\"Ep182 Tim Gardner &#038; Bob Bisset Lockton Re: Let revenue take care of itself\" allowtransparency=\"true\" height=\"150\" width=\"100%\" style=\"border: none; min-width: min(100%, 430px);height:150px;\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=https:\/\/www.podbean.com\/player-v2\/?i=ygeu5-14ab33e-pb&#038;from=pb6admin&#038;share=0&#038;download=1&#038;rtl=0&#038;fonts=Tahoma&#038;skin=3267a3&#038;font-color=&#038;logo_link=episode_page&#038;btn-skin=1b1b1b loading=\"lazy\"><\/iframe><\/p>\n\n\n\n<p><strong>Four years into a project to rebuild Lockton Re into a challenger reinsurance broker, two of the business\u2019s architects spoke to Mark Geoghegan for an episode of his Voice of Insurance podcast.<\/strong><\/p>\n\n\n\n<p>Only four years ago, Lockton Re was a smallish London market reinsurance broker, with fewer than 40 staff, focused on international casualty business.<\/p>\n\n\n\n<p>Since then, its parent company Lockton took advantage of the consolidation going on in the top tier broker market to build \u2013 organically \u2013 a much larger broking animal.<\/p>\n\n\n\n<p>Starting from an almost blank canvas, Lockton Re takes a \u201cSwiss Army Knife\u201d approach \u2013 it wants brokers who are not \u2018company men\u2019, but rather people who think flexibly about different tasks and capabilities \u2013 prepared to find new ways of doing things.<\/p>\n\n\n\n<p>\u201cIt&#8217;s an early self-selection process. The people who are excited, lean in very quickly, and the people that are timid and don&#8217;t want to do it, lean out,\u201d said Tim Gardner, CEO of Lockton Re, speaking on the podcast.<\/p>\n\n\n\n<p>Fast-forward to 2023 and the firm has major reinsurance broking hubs in the US, Bermuda, London and Zurich, placing everything from regional US market business to specialty lines.<\/p>\n\n\n\n<p>\u201cWe&#8217;ve got infrastructure, we&#8217;ve got people, we can point to clients, we can point to wins,\u201d said Bob Bisset, Lockton Re\u2019s chairman for global retro and property specialty, Bermuda and market capital.<\/p>\n\n\n\n<p>\u201cThe conversations we had with folks to try and get them join Lockton Re a couple of years ago was that leap of faith. \u2018Come on board. We&#8217;ve got all the ingredients to make a fantastic dinner, come join the dinner party\u2019\u2026Now we can say, \u2018we&#8217;re enjoying the meal. Come have a bite, it&#8217;s really good \u2013 it&#8217;s delicious.\u2019\u201d<\/p>\n\n\n\n<p>Among myriad challenges overcome in the past few years \u2013 such as navigating a turn in the market cycle, and onboarding all the new teams and talent \u2013 there is also the ongoing challenge of <a href=\"https:\/\/www.advantagego.com\/en-us\/content\/technology-making-waves-in-insurance-industry\/\" target=\"_blank\" rel=\"noreferrer noopener\">digital transformation<\/a>. For Gardner, this is about levels of service standards, which he said he thinks have slipped for the sector.<\/p>\n\n\n\n<p>\u201cWe spend a lot of time and money on the tools that we use behind the scenes for claims and premium processing, on how we capture quote information, placement information and bound information,\u201d he said.<\/p>\n\n\n\n<p>\u201cIt\u2019s with the idea that we&#8217;re going to serve all that back to serve our clients better. It&#8217;s not flashy, it&#8217;s not glittery, it&#8217;s your foundational items to build the business the right way,\u201d Gardner continued.<\/p>\n\n\n\n<p>Meeting a reinsurer recently, this focus in conversation struck a chord. \u201cWe want to be brilliant at the basics. If you\u2019re brilliant, the basics, the tougher stuff gets a lot easier,\u201d Bisset said.<\/p>\n\n\n\n<p>Gardner added: \u201cOne of the cores of our value proposition is \u2018born digital\u2019. To be able to build new without unpacking old legacy infrastructure has been a Godsend.<\/p>\n\n\n\n<p>\u201cWe can do things that we never would have been able to do in prior lives, simply because there&#8217;s too much there to try to unpack before you can build something that&#8217;s new and compelling.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Four years into a project to rebuild Lockton Re into a challenger reinsurance broker, two of the business\u2019s architects spoke to Mark Geoghegan for an episode of his Voice of Insurance podcast. Only four years ago, Lockton Re was a smallish London market reinsurance broker, with fewer than 40 staff, focused on international casualty business. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6038,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[19,26],"tags":[14,39],"line-of-business":[20],"class_list":["post-6035","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-podcasts","category-latest-insights","tag-underwriting-workbench","tag-reinsurance","line-of-business-property"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/posts\/6035","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/comments?post=6035"}],"version-history":[{"count":0,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/posts\/6035\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/media\/6038"}],"wp:attachment":[{"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/media?parent=6035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/categories?post=6035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/tags?post=6035"},{"taxonomy":"line-of-business","embeddable":true,"href":"https:\/\/www.advantagego.com\/en-us\/wp-json\/wp\/v2\/line-of-business?post=6035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}