Newly launched Formula 1 broker becomes AR

Startup broker Podium Insurance has teamed up with Shepherd Compello as it looks to grow in the motorsport sector.

Established by racing drivers James Blair and Clement Novalak in 2024, Podium Insurance aims to serve the global motorsport community, spanning karting to Formula 1.

Through its new partnership, the broker will act as an appointed representative of Shepherd Compello and provide coverage options for storage and transit, excess on-track and personal accident.

Shepherd Compello will also help Podium Insurance navigate regulatory and compliance challenges.

Holly Shepherd, managing director at Shepherd Compello, said: “This collaboration underscores our commitment to supporting startups and insurance professionals by empowering them to serve and excel in specialist markets.

“We’re excited to welcome Podium Insurance onboard.”

Podium’s team

Blair serves as the chief executive at Podium Insurance. He began his career in insurance in 2017 after spending eight years pursuing a racing career.

Meanwhile, business development manager Novalak competes in the European Le Mans Series and the 24 Hours of Le Mans.

He also raced in the FIA Formula 2 Championship and secured a win at the Dutch GP in 2023.

Speaking about partnering with Shepherd Compello, Blair said: “Being a former racing driver myself and Clement being a current professional driver, this puts us in a very unique position as far as a firsthand understanding of our client’s needs and the real-life situations that surround each of then.

“Our new relationship with Shepherd Compello, complimented by our strong existing relationships within the Lloyd’s Market, provides us with a very exciting opportunity to offer unparalleled service to our clients and friends within the motorsport industry.”