Talking heads: Brent Escott, Capita

Brent Escott knew he was joining a company on the up when he was appointed head of Capita’s London market business last year.

The insurance outsourcing and services provider boosted its before tax profits by £20m last year to £385.2m (2010: £364.2m), while turnover during the same period increased to £2.9bn (2010: £2.7bn).

Escott was moved into the newly-created role of general insurance divisional director at the end of 2011, which he describes as “interesting, challenges, stimulating and presenting lots of opportunities”.

Insurance Times is at Capita’s functional looking offices in Duke’s Place today to talk about the challenges he has faced during his six-month tenure and his plans for the future.

“I think the exciting bit is having been fresh from the insurance industry I came into Capita knowing the opportunities in the market that the company is well positioned to either solve or create solutions for,” says a highly motivated Escott.

Capita’s reputation precedes itself. It is well known in the market for its diverse range of businesses covering everything from a Lloyd’s managing agent to the UK’s sixth largest personal lines broker, and the Independent Insurance run off to Marsh’s back office operations.

Escott says that at a time when the banking industry is in turmoil, the insurance sector looks strong and secure by comparison making it more attractive to investors.

As a result of this capital coming into the industry the soft market has continued but it has also been a welcome addition with Solvency II requiring insurers to hold more capital against the risks they write when it comes into effect in 2014.

“Actually I think Solvency II is a positive thing for the market,” Escott says. “I think it will put greater focus on how capital is deployed and how it applies to risks such as operational risks, which is where we come in in terms of our place in the market with the services we provide.”

One of the most notable trends he has seen has been a growing demand for outsourcing – something which Capita has been keen to pick up on as a result.

Escott is also a non-executive director at regional insurance broker Clear Insurance Management. How does that sit with his position at Capita? He certainly doesn’t believe it causes a conflict of interest.

“Clear Insurance doesn’t operate in the same area that Capita does,” he says. “I think it’s extremely healthy to maintain awareness of and understanding of what’s going on in various parts of the industry.”

Escott has built up a strong team around him, including former Zurich Global Corporate UK chief executive Wayne Lewis as general insurance finance director, and Phil Zeilder, who has more than 20 years in the industry, as divisional corporate development director.

Throughout the interview he comes across as passionate about what he does and only comes unstuck momentarily when thrown a question about his idea of success.

Asked about his day-to-day role, Escott laughs as he reveals that a lot of his time is taken up dealing with the FSA, but adds that Capita’s approach to governance and controls has earnt it a reputation as a trustworthy and secure company – a message Escott is keen to relay throughout the interview.

Another big chunk of his day is spent talking with customers and recruiting new personnel as the business expands, and he has already managed to get out to most of the company’s 14 sites.

In terms of new areas Capita wants to get into, Escott has plans to build on the firm’s position as the UK’s largest telematics administrator.

Capita is also tendering to service Lloyd’s new Asian platform, but it is the domestic market that Escott is keen to capitalise on, eyeing a number of opportunities in the commercial space.

What kind of a manager is Escott?

“I’m not a great believer in shooting from the hip, I’m a much greater believer in take stock of where you are,” he says.

And what drives him?

“Profit,” he says. “At the end of the day it all comes down to profit. If you respond to what’s going on then you will adapt and evolve because the world is always changing and if you do those things well profit will follow.”

His ultimate goal is to establish Capita as the partner of choice with a clear and quality offering.

Asked what keeps him awake at night, he immediately responds “my children”, before adding that he never fully switches off from work and is constantly challenging himself to do better.