QBE Nordics General Manager, Maths Stanser, looks back at 2023 and shares what's coming up for QBE Nordics in 2024.
Describe the insurance year 2023 in three words
Firstly, uncertainty. The world's unpredictability, from global conflicts to interest rates, impacts us and our customers. Navigating inflation, economic fluctuations, and uncertainties is a continuous challenge.
Secondly, success: Amidst the challenges, our success story thrives. We've maintained consistency, increased relevance in the Nordic insurance landscape, and expanded our visibility. Our global offering, especially in cybersecurity, has grown, reflecting our ability to deliver positive results in an uncertain and challenging environment.
Last but not least, people: Attracting, retaining and developing the right talent has been a key focus. We've built a team that enables continuous growth and collaboration. In a world of constant change, our ability to attract and develop talent is what will ensure our continued success.
In 2023, we've experienced a year of economic and geopolitical uncertainty. How does QBE Nordics navigate the insurance challenges and associated risks?
We stay attentive to our brokers’ and customers' challenges. Our approach involves responsive dialogue and adapting our products to meet evolving risks. This requires a close conversation to determine the right coverage and values. The challenge is not just to deliver the right products but to simplify the process of obtaining relevant insurance protection for our customers.
Over the past year, you've recruited several new employees. What enables you to attract and retain so many talented individuals?
The mix of experienced individuals with youthful drive creates a winning combination.
I believe we have fostered a culture where there are few closed doors and where everyone is willing to help. The core belief that everyone wants to contribute makes us a great team. Additionally, recruiting individuals with the right mindset is crucial— having employees that are open, helpful, and enjoy working in an international environment leads to better performance.
Looking forward to 2024, what do you foresee?
In 2024, we anticipate increasing our relevance, launching new insurance products like Warranty and Indemnity, and forming closer partnerships with new sectors. We look forward to enhancing our impact and exploring new markets.
What trends do you think will shape the insurance industry in the coming years?
Market projections vary and our attention is on understanding where each market is heading. Some lines will harden while others may remain soft, depending on global trends, geopolitical risks and macroeconomic factors. The cyclicality of the market is certain, but the speed and manner of change remain unknown. We closely monitor these factors to adapt our strategies accordingly.
Finally, what are you most proud of from the year that has passed?
I’m most proud of our team and their unwavering contribution in such a challenging environment. Despite the uncertainties, we've showcased resilience and dedication. Witnessing that team effort has truly been fulfilling.