NAME: Andrew Robinson
NEW JOB TITLE: Houston-based CEO, Houston International Insurance Group Ltd.
PREVIOUS POSITION: Atlanta-based senior adviser, Oak HC/FT; also chairman of Oak portfolio companies Groundspeed Analytics Inc. and Clara Analytics Inc.
INDUSTRY OUTLOOK: Its an interesting time for the industry. Rates are hardening at a level we last saw 20-plus years ago, so pricing will be strong for a while capital is far less available. Thats good from a pricing perspective. Yet we are at an interesting time in terms of the asset side of the balance sheet and some of what has happened on the back of the last few months in the capital markets. I think the seriousness of the pandemic and COVID-19-specific losses make the real risk management of the industry far more interconnected and far more challenging. This aspect along with the rate and capital challenges makes it a bit of a new dawn for the industry.
GOALS FOR NEW POSITION: My aim is to make HIIG into a true top-tier, top-performing specialty insurance company. We have ambitions to progress into a position that is among the very best in all regards in terms of our products and solutions, the quality and engagement of our talent, and certainly, in the returns that we deliver to the shareholders.
CHALLENGES FACING THE INDUSTRY: There are many. We have loss costs that in some instances have little to do with the value we seek to provide to our customers due to an overactive plaintiff bar. It is difficult for the industry to keep pace with this aspect of loss costs and capture enough rate to offset. A second area is an aging industry workforce and trying to attract the next generation of top talent, particularly given the changing skillset toward technology and data expertise. A third is simply the commercial insurance industry cost structure 40 cents of every premium dollar in aggregate goes toward activities that are not about the fundamental proposition of paying claims. That is not an economic proposition to the customer that is sensible.
FIRST EXPERIENCE IN THE INDUSTRY JOB MARKET: I was a consultant in 1990 sent to London on a project to help move a London market reinsurer into run-off. It was a great experience and it got me immersed in all the technicalities of claims and coverage at an early stage in my career.
ADVICE: Any young person coming into the industry should take the time to understand how the industry makes money across the entire value chain. Context is worth 50 IQ points and knowing how things work will pay huge dividends as you begin your career regardless of function.
OUTSIDE THE INDUSTRY, A DREAM JOB: A professional rugby player.
COLLEGE MAJOR: Mathematics and systems engineering. Deep down, I am a geek.
LOOKING FORWARD TO: Building a super-engaged, super-energized team that will develop, grow and win together. I want our team to feel as though they are building a company that is special.
FAVOURITE MEAL: If I am being healthy, it is Lebanese. If I am being unhealthy, it would be a saucy and spicy Indian curry.
BOOK: I enjoy several books. One recent book I enjoyed reading was Steve Jobs biography.
HOBBIES: Travel with my family, eating, running (I run to eat!) and binge-watching Netflix with my wife.
TV SHOW: Many favorite shows, but I was thoroughly enthralled with Narcos, Ozark, Peaky Blinders (you get the idea).
ON A SATURDAY AFTERNOON: If I had my druthers on a Saturday afternoon it would be walking the city streets of London with my wife. Most Saturdays, I am often recharging and throwing a ball with my dog.
