1 min read: INSURANCE INFLUENCERS – RICHARD FINAN
Forging ahead to meet customers’ ever-changing needs The ancillary market has traditionally lagged behind...
Peter has worked within the general insurance industry for almost 20 years. He has built his experience across both insurers and broking having held senior positions within Ireland and the UK. Peter is ACII qualified and holds chartered status with the CII.
Peter is our Director of Corporate Relations, with overall responsibility for our partner relationship activity. As part of that role, Peter manages all of our Irish operations, including the establishment of our new Dublin branch, managing our existing partner relationships and actively seeking to grow our presence. Here Peter talks about our position in the Irish ancillary products market, and the opportunities ahead.
Arc Legal is actively growing its market share in the Republic of Ireland and has big ambitions for future growth and expansion. Is it exciting to be spearheading such a project?
Absolutely, it is great to be leading this, especially now we are established in Dublin. We have had a strong presence in Ireland for a number of years now, however there is plenty of opportunity for us to continue growing our market share. The launch of our suite of ancillary products is a particularly exciting development, that will help support our growth ambitions.
The legal expenses insurance landscape, and the insurance landscape of the Republic of Ireland as a whole may be unfamiliar to some, can you shed some light on it?
Without a doubt it’s a very different market. Within personal lines the major difference is the absence of aggregators. Insurers and MGAs tend to have legal expenses, PA, breakdown etc included within their core covers so most of the clients are within this sector. The claims environment is also very different with the existence of the Personal injuries assessment board (PIAB) resulting in a different claims process and operation of legal expenses covers.
You’ve recently opened a new branch in Dublin How does this alter Arc Legal’s service proposition?
Previously Arc Legal operated under a service passport for the Republic of Ireland however we have now established our physical presence and are co-residing with our parent company AmTrust in Dublin city centre. This demonstrates strong commitment to the markets both North and South of Ireland and the reaction from our clients has been very positive.
Can you tell us a bit more about Arc Legal’s new suite of add-on products – how do they compare to what is in the Irish market currently?
There is an exciting suite of products that will deliver both choice and innovation to clients throughout Ireland. I have found already clients want a single provider for all their ancillary requirements and it’s great to be in the position to deliver great products underwritten by an A rated insurer.
What was it that made working for Arc Legal in Ireland such an attractive proposition?
For me it was an easy decision! Arc Legal has been a supplier for a number of years in my previous roles, and I have always admired the dynamic and flexible approach so joining the team was a great opportunity.
A non-insurance related question now! What do you like to do in your spare time? Any interesting hobbies or pastimes?
Those who know me well know that I am a part time farmer! I keep a small number of beef cattle and love early mornings, sun shining in a field surrounded with them!