Markel to bolster distribution strategy as industry becomes more digitised

Markel has revealed that it is looking to further bolster its distribution strategy as the insurance industry becomes more digitised.

In a statement released today (6 November 2023), the insurer said that distribution was at the “forefront” of its strategy and needed to “remain agile and adaptive to the risk needs of our clients”.

With technology such as artificial intelligence (AI) on the rise and the accelerating impact of the Covid-19 pandemic, insurers have naturally started to become more digitised.

Dan Martin, managing director of distribution strategies and business development at Markel International, said that increased digitisation of the global insurance marketplace and evolving buying habits of customers made the need to further develop its distribution strategy key.

“At Markel, distribution is at the forefront of our strategy,” he added.

New role

To help achieve this, the firm has appointed Chris Conyard as its new digital and portfolio executive in its distribution strategies and business development team.

He has joined Markel from American International Group (AIG), where he was responsible for distribution strategy and strategic broker relationships.

In his new role, Conyard will work with the underwriting and business development teams to support Markel’s long-term sustainable growth and operational effectiveness.

He will also play a key role in helping to lead and develop Markel’s distribution strategy.

“This role represents a step change in our approach,” Martin said.

“Chris’s diverse experience, long-standing trading relationships and considered, collegiate approach make him ideally suited to this exciting new challenge.”

Conyard added: “I am looking forward to working within this vibrant and growing team.

“Markel is well known as a leader in almost all of its specialty classes. It is crucial that we remain agile and adaptive to the risk needs of our clients, the territories in which we operate, and the methods of distribution that we use across a rapidly changing marketplace.”