In February of 2025, Dan Reynolds, the editor in chief of Risk & Insurance, sat down with Julie Wood, CEO for QBE North America. What follows is a transcript of that discussion, edited for length and clarity.

Risk & Insurance: Thanks for meeting with us Julie. Let’s jump right in. What are the key factors that make a claims operation top-notch?

Julie Wood: The foundation of claims or underwriting really comes down to the people we employ. We have a new Chief Claims Officer, Todd Greeley, who took this position in February of last year. Good leadership is about surrounding oneself with great people and fostering strong fellowship, which Todd has successfully done.

Todd manages our North American Claims operation, and one test of the service quality his team delivers is how the marketplace perceives our brand. Both Todd and his claims team are admired and respected throughout the industry, which is quite unique. They are often talked about as a differentiator in our product offerings

This recognition stems from their strong technical expertise and alignment with underwriters. I recently attended a claims meeting where the claims and underwriting teams were discussing challenging issues together. There’s never an instance where we write a risk and have a claim come in without the awareness of both teams, whether it’s in our medical stop loss, financial lines, cyber or casualty products.

This strong alignment between claims and underwriting is truly unique. While it’s challenging to convey the value of claims expertise until an insured has experienced it firsthand, I believe this is a differentiator for us. Our claims team not only has strong expertise but also works in lockstep with the underwriting side.

Our leader has an excellent reputation in the market, which I hear about consistently. It’s very encouraging to have a leader who is both well-respected and recognized for their expertise and contributions to the industry.

This positive acknowledgement reflects our team’s deep understanding of the market and the overall quality of our work. We often receive unsolicited positive feedback about our claims team. This feedback isn’t just about one leader but multiple individuals. It’s rewarding to receive such positive recognition for our claims professionals.

R&I:  What is QBE’s philosophy regarding the network of brokerage relationships the company wants to maintain?

JW: QBE is in the midst of evolving our approach to brokerage relationships, partly due to our exit from our middle market product line. Previously, our distribution strategy for the middle market differed compared to our strategies for other products like financial lines, medical stop loss, excess casualty and other lines across the group.

There will always be unique aspects that are product-based. For example, aviation will trade with a specific group of distributors. However, we are shifting towards a more consistent strategy across both retail and wholesale channels that targets larger customer segments.

We prefer to work with key distributors in both the retail and wholesale sectors. Our approach is to keep it limited, as we aim to specialize rather than trying to be everything to everyone. We want to have an area where we offer value that transcends all products. That’s the utopian state – a profile that resonates across multiple products and the brand. That’s the direction we’re moving in.

This evolution has brought about some changes. We left a market that was largely relevant to a significant number of distributors but not necessarily consistent with our other products in our portfolio.

Looking ahead, defining our wholesale strategy becomes crucial. We trade our excess casualty products and some financial lines in this way. As we expand into more wholesale areas, such as a property, we need to articulate our role to each wholesaler.

Our goal for 2025 is to be precise about our wholesale approach, as we want to maintain our brand’s relevance and strong customer service. Diluting our service proposition and value by trying to be too many things to too many people is not an option.

Implementing this approach will take time, and we’ll be sensitive to our existing relationships, many of which are based on long-standing trust. However, the biggest qualifier for our direction is that we’re a specialized brand, and we want to partner with other specialists rather than generalists. Additionally, we’re moving upstream on the size of some of our clients. This will be the primary ruler on how we proceed in wholesale.

R&I: How do you keep your team focused in a society and culture where it seems there’s something coming at you every ten seconds?

JW: Constant communication is key to keeping the team focused amidst distractions and uncertainties. We hold regular leadership meetings to discuss a wide range of issues impacting different products and employee groups, even those that may not seem directly relevant to everyone.

It’s important to provide space for leadership to address areas where their products are impacted. You never know what’s around the corner, so putting all issues on the table across different functions, we often uncover relevant insights that you might not have been initially considered.

Communication needs to happen in all forms. Direct managers are encouraged to communicate with their teams about market changes, results, and other potential stressors like job market fluctuations or departmental changes. This helps prevent any unintended conclusions that might be drawn from events that have zero correlation to management’s intentions.

As a leader, I keep communication open through regular town halls with Q&A sessions. I aim to keep these meetings to 45 minutes with 15 minutes dedicated to open Q&A. This allows colleagues to voice their concerns and get clarity on various issues.

R&I: How do the town halls at QBE typically go? How engaged are the employees during these meetings?

JW: The town halls are going well, with increasing participation in the Q&A, which I really appreciate. I prefer to bring in different leaders and facilitate an open Q&A session.

Initially, there was some hesitancy from colleagues to ask questions. However, as we’ve conducted more town halls, the number of questions has consistently increased. This engagement is a positive sign.

I try to strike a balance between having some structure and allowing for spontaneous leadership calls when needed. If there’s a lot going on, such as wildfires or political events causing anxiety, I believe an open forum is often the best place to surface these concerns. Written communication can sometimes be misinterpreted, whereas a verbal conversation allows for better understanding and immediate clarification.

R&I: What are your thoughts on the various communication platforms and their impact on clear communication and potential distractions in the workplace?

JW: Communication should be tailored to the platform and the gravity of the message. A Teams message, for example, is a casual conversation that I might miss if I’m in a meeting.  A serious topic mentioned in passing while getting coffee doesn’t constitute a sign-off. That requires a formal agenda and a scheduled meeting. Depending on tenure, some might assume a hallway chat suffices, but I often need more input than what’s casually presented.

The phrase “I just need five minutes” can be misleading. While someone may need five minutes to unload information, I might need thirty minutes to an hour, or even another committee meeting, to properly respond.

It’s about meeting people where they are and using different communication forms when necessary. We’ll send an email, have a call, and hold a team meeting on important matters like results. At the same time, we must be cautious not to exhaust people by involving them in too many communication channels.

Sometimes, a quick text to check in and offer support can be appropriate. It’s about being accessible without overburdening others, as people often feel obligated to read, attend, or engage with all communications.

R&I: What do you consider your biggest challenge in achieving your goals, and what do you believe is crucial for success?

JW: A consistent theme in my approach is the importance of teamwork. I firmly believe in leading by fostering open spaces that encourage debate and collaboration. Operating alone may lead to independent success, but it also isolates you when facing failures.

I believe in diverse thinking, bringing people together, and seeking input. While decisions must be made to prevent stagnation, it is crucial to gather insights from others. To excel in an industry with various functions, everyone must work together, build trust, and collaborate efficiently.

The next chapter for the industry and society revolves around working faster. While AI is a popular topic, and younger generations seamlessly integrate it into their lives, I recognize the need to adapt and leverage AI to enhance efficiency and productivity. The challenge lies in figuring out how to work together as a team, faster and more efficiently, while remaining relevant in the face of technological advancements.

R&I: What are the key business opportunities for QBE, and can you provide specific examples in terms of lines of business or geographies?

JW: One of my core tenets is understanding the market and our customers. Brokers are initially our customers, and ideally, the client eventually becomes the insured, especially evident during a claim when the client is largely the focus.

We have multiple customers in our value chain, so it’s crucial to understand their business challenges and plans. It’s never good when we’re planning to grow a product, and we’re not quite sure whether the broker community intends to support that growth. We must be sensitive to economic trends, such as the current boom in construction and infrastructure, but what’s equally important is how brokers motivate their sales teams and their role as trusted advisors to clients.

We want to be relevant to what is being surfaced and where the challenges are. Currently, excess casualty poses a big challenge, with concerns over reserves and carrier apprehensions. We launched a business in this sector about two and a half years ago, and they’re being very deliberate, precise, and consistent in our value proposition.

That’s an area where we’re relevant, specialized, consistent, and trusted. We’ll continue to hold consistently with the right pricing and attitude. There’s always a push for more, but we have to balance that to ensure we stay profitable, which is a goal shared by all our partners.

Industry verticals are definitely an area I’d love to see us focus on. Construction, for instance, is a great sector where we can be particularly relevant in, with great growth and insurance needs, including consulting. Healthcare is another area we’ve stood up, with a solid team, though it’s still in the infancy stages.

We’ll keep pushing forward and making sure we’re staying highly relevant in the market, ensuring we have a value proposition to deliver to both the broker and the client.

R&I: Is there anything else about QBE that would be beneficial for our readers to know that wasn’t covered in our discussion?

JW: One notable development is the influx of new talent we’ve attracted over the past year across all areas of the business. From functions like finance and risk to market-facing roles in underwriting and claims, we’ve welcomed a diverse range of perspectives.

This is a positive sign, as success tends to create momentum. We’re fortunate to attract individuals from around the market who are drawn to our expanding footprint, unique value proposition, and strong brand.

As part of this growth, we’re opening new offices in Atlanta and Los Angeles, strategically located to be closer to our customers. These developments are capturing people’s attention, and they’re eager to join an organization that aligns with their values and aspirations. &