Tom Leddy, our MD Insurance has his say!

We believe that our customers should have some idea of who we are, not just as a business but also some insights into the key people in the business. This is the second 'personal' blog about the business - Siwie Dai wrote the first as an intern but Tom is a senior leader!

The colour Mr Ford, does not have to be black!

As a 30 year veteran of the insurance industry, I have seen (almost) everything! So, why take on a new challenge of helping to launch a real disruptor like Equals?

The second reason is that I have always taken on challenges that get me excited. But, the first and main reason for joining Equals is all about making a difference in the way good sensible prudent customers over-come unfair disadvantages placed on then in UK financial services.

The industry is so massive and in many ways so focussed on price competition that risk selection and pricing revolves around the ‘mass market’ – that means if you are a bog-standard, general-issue sort of person you will get the better deals and the widest choice. If you have a normal working history and a good risk profile for the metrics that drive most insurance or lending decisions, you will always have great choices and the whip hand in the market.

But, if you are just a bit out of the ordinary, you suffer: you may need specialist brokers who take their (reasonable) cut, face long delays in decisions (“you are a bit unusual sir”), reduced product options and the headline teaser deals are never available to you, so guess what? You pay more.

It doesn’t have to be that way: technology, technology, technology is the key! The computer no longer has to say no if you don’t quite fit the model! New agile computer learning , “blockchain” and so much more opens the doors to enable systems (well new ones) to be more flexible and “read you” as an individual and your risk profile more intelligently than ever before.

This is why I am excited about equals.

Starting with but remaining focused on the services families even as we grow, we will be bringing “military” intelligence to bear on solving structural problems in financial services - for individuals and families like you. We know customers never really fit the one ‘cookie cutter’ in the corporate drawer and we can bring this much needed intelligence to financial services.

As we develop over the next 6-12 months you will see, with the right “will listen” attitude from us and your feedback, the financial services industry can work to make things easier for you, the customer and not just the professionals or the balance sheet. We will open access to deals that are best in class to you the individual customer. Watch this space for news, wins, probably some setbacks and solutions coming your way.

One in, one out!

Sandy (Siwei) and Tom at the Boost reception - a bit of a tongue in cheek event as Sandy didn't get a pass 10 weeks after joining and left before it arrived!

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Thanks NatWest ;-), it is fantastic to be surrounded by so many talented people starting their own businesses.

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