Here’s How One Senior VP Is Changing the Way Insurance Has Traditionally Viewed the Business
Faye Cook’s ascent at Allied World has been quick and sharp. She started with the company in 2006 as a local Bermuda marketing manager and is now a member of the company’s executive leadership team.
In addition to her marketing and branding responsibilities, Cook has been appointed to the role of head of client engagement and global accounts management. As such, she is in charge of building relationships with insureds, connecting them and their brokers to the company’s underwriters and risk solutions on a worldwide basis.
As she sees it, Cook is inspired to change how the insurance industry has traditionally viewed the business, moving from the transactional to the collaborative.
“We see building collaborative relationships with our insureds as a long-term play, not a short-term transaction,” Cook said.
“The biggest challenge we face is educating our teams internally and partners externally on why this approach is meaningful.”
Cook said communication and the use of data are going to be key tools in this transformation. She also likes the way Allied World is positioned in the market — small enough for there to be tight lines of communication between global underwriting teams and company leadership, and large enough that the company has the technological resources it needs to be a powerful analyzer of risk.
“We believe trading with our customers across multiple lines of business and services makes for stronger partnerships,” Cook said. “And through this division, we’re working closely with stakeholders across the entire value chain to understand a client’s portfolio and needs holistically. We plan with our clients and brokers upfront, address any service needs early on and ultimately create a multi-dimensional collaborative relationship,” Cook said.
“As a result, all ships rise. We give meaningful service, we get loyal customers, and we better contribute to our brokers’ success.” &