ILC ARTICLE

ILC Industry Leader Interview: Emma Fuller, Partner- Head of Motor and Casualty Market Strategy, DAC Beachcroft LLP

6th September 2023

Which areas of business do you think offer the greatest opportunities right now, and how are you capitalising on them?

Claims has always been a constantly evolving area, and that has never been more true than at the present time. There are so many market issues which are having a huge impact on what we do such as consumer duty, claims inflation and the implementation of fixed recoverable costs. In addition, as an industry we are faced with new opportunities (and challenges!) seemingly daily coming from automation and AI. Our biggest opportunities lie in being able to collaborate and work in partnership with our clients on these challenges. We are doing this by investing in our people strategy to ensure we have the best lawyers who can support our clients through the issues the industry is facing. However, we are also investing heavily in technology, including building tools such as our recently launched credit hire assessment tool Nightingale.

How have you added resilience and adaptability to your business over the past few years?

Maintaining financial stability has been key, which has been achieved by steady growth and increasing profitability.

There has also been a big focus on our people strategy which has made us more resilient. We are now encourage flexible working due to our flex forward policy, and we have changed how we attract talent, with a huge focus being on legal apprenticeships and supporting alternative routes to qualifications by professional funding. We operate as a ‘location blind’ business,  meaning we can pull on the best available talent nationally. This has helped make us an employer of choice in the insurance legal industry, which has been brilliant from a succession planning and sustainability perspective.

How has your business philosophy evolved since you began in the industry?

I joined DAC Beachcroft 18 years ago; when we still had paper files and instructions came via post. So much has changed since then, but at the same time, our aims are the same. We abide by the cultural principles of being supportive, determined, creative and clear, with the intention of helping our clients and colleagues succeed in a sustainable way. Although the way we deliver our services has changed, the philosophy hasn’t, which is why I believe we continue to be such a successful business.

What is the greatest myth about the insurance industry, and what is the fact?

When I am asked what kind of law I specialise in, and my response is insurance, many people think it might be boring. But that could not be further from the truth. There are so many different areas, and each one is constantly evolving. I genuinely love my job and get to work with some amazing people- both internally and externally. What we as an industry do really does matter and it is an industry we should all be proud to work in.

Consumer attitudes are changing – how is the insurance industry evolving to meet their demands?

With the cost of living crisis and implementation of Consumer Duty, consumer attitudes and needs have never been more topical. Price is obviously a more important factor that ever for consumers when shopping for policies, and many are happy to accept a no frills policy as long as the price is as low as possible. They expect easier to understand language, especially when it comes to pricing, and with the demographic changing, many customers expect technological solutions to communicating with their insurer.