Graeme Newman: ‘Enormous opportunity to be had by leveraging technology’

Seven candidates have been shortlisted to pick up the prestigious accolade of Technology Champion of the Year at Insurance Times’  Tech and Innovation Awards 2023.

Fifth on the shortlist is CFC’s chief executive Graeme Newman.

Newman was promoted to the role in 2021 after serving as the firm’s chief innovation officer for more than 10 years.

This makes him responsible for the MGA’s data, technology and operating functions.

Projects Newman has overseen since becoming chief executive include the creation of a dedicated fintech team in January 2023.

This brings together underwriters with over 40 years of experience in writing technology risks and financial institutions.

Last month (12 July 2023), the firm also launched a new innovation facility to develop and underwrite products under the Lloyd’s ‘ICX’ innovation risk code.

”CFC has put technology at the heart of our business since day one,” Newman said.

“We believe there is enormous opportunity to be had by leveraging technology to drive more streamlined and frictionless trading, improve underwriting results and protect our customers from a variety of risks, including cyber.”

’Amazed and humbled’ 

In his previous role as chief innovation officer, Newman was the driving force behind the MGA’s technology platform Connect, which is designed to help brokers trading in the commercial specialty lines market.

He also changed how the firm looked at cyber underwriting – he did this by combining machine learning and data science with human expertise.

”To be honest, I would be both amazed and humbled to be chosen by the judges as the industry’s tech champion,” Newman said.

”This award really would be shared by every one of the team at CFC as they’re the ones turning our ideas into reality and creating the benchmark for others to aspire to.”

The Technology Champion of the Year will be revealed at an awards ceremony at the Royal Lancaster London hotel later this year (21 September 2023).

And this year there will no voting – instead the final decision will be in the hands of the Insurance Times editorial team.

For table bookings for this event, contact account manager Serena Giampieri: Serena.giampieri@insurancetimes.co.uk

Meanwhile, for sponsorship opportunities, contact head of commercial Aisha Roberts: Aisha.roberts@insurancetimes.co.uk