Ben Laidlaw, Managing Director: Carbon Underwriting: The Delegated Underwriting Specialists (324)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 13 October 2024

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

Determined to write delegated business better, Ben Laidlaw joined Nick Tye and Jacqui Ferrier to found Carbon Underwriting. Carbon Underwriting is a Lloyd’s Syndicate MGU that provides shareable underwriting conclusions on its Graphene administration system. The company has matured since its conception in 2018, and Ben discusses navigating ‘Decile 10’ to gaining approval for Carbon’s second syndicate earlier this year, which will exclusively underwrite US business. Key talking points: The story behind the creation of Carbon Underwriting and growth in the Lloyd’s market The thinking behind the second syndicate US business - why enter a competitive market? Smart syndication Graphene - who built it and what’s so good about it? Plans for the rest of this year and 2025 On being Private Equity owned and waxing lyrical If you like what you’re hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. Sign up to the InsTech newsletter for a fresh view on the world every Wednesday morning. Continuing Professional Development This InsTech Podcast Episode is accredited by the Chartered Insurance Institute (CII). By listening, you can claim up to 0.5 hours towards your CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Specify what issues were in the delegated business market and what changes did Carbon Underwriting seek to solve Define what ‘Decile 10’ is and how it changed the Lloyd’s Market Summarise why smart syndication is and why it is a growing and exciting aspect in the Lloyd’s Market If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 324 page of the InsTech website or email [email protected] to let us know you have listened to this podcast. To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.

Transcript

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0:00.0	Good morning, good afternoon and welcome back.
0:12.0	Zoya podcast producer here.
0:14.0	Carbon underwriting joins us this week.
0:16.0	If you haven't heard of them, they are a Lloyd Syndicate, M.GU.
0:20.0	Speaking to Robin Merton's is Ben Laylor, Carbons managing director.
0:24.9	You may remember rather famously in July, Carbon announced that Lloyd had given in-principle
0:29.9	approval to set up its second syndicate, exclusively targeting the US program business.
0:36.0	Well, if you are curious to learn more about Lloyd's, smart syndication and developments in
0:40.7	the London market regulation, this is a podcast for you.
0:44.7	Likewise, if you're not already familiar with INSTECH or aware that we do indeed have a live
0:48.9	for on the podcast, take a look at INSTECH.com to find out what we know and how we can help
0:53.6	you. That's pretty much it.
0:55.6	Now let's see what Ben and Robin had to say.
1:08.7	Well, it's another Sunday. It's another Instech podcast and another excellent guest. Today I'm chatting with Ben Laidlaw. He's the MD and co-founder of carbon underwriting. Ben, welcome. Good afternoon and fantastic to see you again, Robin, and delighted to be part of the podcast. In 30 minutes' time, you could be the judge of whether you were delighted to be on the podcast. But let's start at the beginning. Tell us the story behind
1:32.0	the creation of carbon underwriting. You're a general liability underwriter in London Market
1:36.9	2018. What happened next? Right. So I was underwriting at a leading Lloyd Syndicate,
1:42.9	writing a mix of overmarket and delegated
1:46.0	business with a particular interest in the delegated space and had the opportunity to join
1:51.4	a fantastic founding team that was focused on really developing a lot of intellectual property
1:57.2	around how to write the delegated business model better. So when I saw the quality
2:02.6	of individuals I could join in Nick and Jackie, my kind of co-founders, it seemed a very natural
2:07.4	and obvious step to make was to move, move into a small and more agile entity, have the opportunity
	...

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