At bpesearch, we have the privilege of connecting with some of the brightest minds in the business world. As part of our mission to share valuable insights with our network, we are excited to launch a series of interviews with C-suite professionals who have navigated their industries with expertise and determination. Our first interview is with Jodi Cartwright, an accomplished entrepreneurial and commercial leader with over 20 years of experience in the UK general insurance market. Jodi has a remarkable track record of driving businesses forward, whether in large global corporates, medium-sized enterprises, or start-ups. Recently, she has been at the forefront of building a financial services business, Tint, which offers innovative trade-finance solutions for SMEs. In this interview, Jodi shares her journey to the C-suite, insights into the insurance market, and advice for businesses and women aspiring to leadership roles.
What did your journey to C-Suite look like?
Firstly, my journey has largely been about ‘the next interesting role’ rather than focusing on the climb up the ladder. I’ve always evaluated roles by those that provide an intellectual challenge, the ability to make things happen, and access to broader, interesting experiences. Naturally as time passes and experience builds the roles need to get more senior in order to provide those elements. I was ambitious and could see myself in senior roles longer term, but it was never about seeking the quickest way to get there, and I think that has served me well.
I started my career on a graduate scheme in a large corporate where I stayed a long time (17 years in total), and at the time that company gave me lots of different interesting experiences. When I eventually made the jump from insurer to insurance broker, the world opened up as I had a completely new perspective on the industry. Once I made that significant move, it has been much easier to then have the courage to move between subsequent opportunities which have been between the start-up world and the corporate world.
My advice to anyone is not to be in a rush to the get to the C-suite – a broad base of experience will serve you well as typically lots of decisions that are needed in the C-suite are not from your core area of expertise.
What are the biggest issues your clients are facing with regards to insurance?
The clients I am working with currently are mid-sized businesses trading physical goods internationally. The key issue they face is ensuring they are adequately covered for the increasingly volatile risks such as the issues we had in the Red Sea recently. There are massive under-insurance issues in marine cargo insurance (as there are in a lot of commercial insurance) which the industry needs to work harder to address.
How do you think the new government will affect the market?
I think the new labour government will bring some much-needed stability to our political environment particularly after such a tumultuous few years which will only be positive for the market in general. The labour government has a growth agenda which is great, how they will deliver this beyond the planning and infrastructure bill is yet to be fully understood. The government need to balance providing an attractive environment for investors with finding sources of funds to deliver the social agenda. How they will do this will be interesting. It’s early days but the Government must support the City in being recognised as a globally important financial centre for both insurance and FS more broadly.
How has CX changed in the insurance market?
Customer user experience in insurance has changed considerably over the last say 7-10 years. Digital journeys are much more user friendly now but there is still a long way to go. There are many more opportunities to innovate further using for example data, new technologies and thoughtful partnerships, so plenty more work for us to do!
The key change I have found interesting to observe is how a few years ago there was a race to get an online quote journey down to the minimum number of questions. There are now instances where the industry is adding in more steps than is actually needed by the insurer because the journeys got too quick! If a quote journey is too quick, some customers don’t trust it! It is an important purchase and customers need to believe the provider will be there to pay out should the worse happen, adding in further questions can help the customer feel the insurer is taking an appropriate amount of time to understand their risk.
What advice would you give businesses looking for funding?
I would give the classic (yet absolutely accurate) advice of being prepared for it to take longer than you think it is going to take. Ensure you have enough cash to keep yourself afloat whilst you fund-raise. It is also key to get specialist help to put your pitch deck together as it is a real art to articulate your business succinctly in investor speak. You can also spend (waste) a lot of time talking to investors that are never going to invest. You are likely to get an initial meeting with most investors as they generally like to know who is out there, so you can waste a lot of time. Really do your homework on whose investment thesis is a good match to your business – having a professional advisor to help you can really save you a lot of time.
As a women in leadership, how do you think the insurance market has changed for women looking to reach your heights?
I think one of the main changes over the course of my career is that there are now more women in senior positions, so more role models, which encourages younger women to aim higher and know it is possible. There is also now more of a deliberate and conscious effort to achieve diverse management teams and an understanding of the value in that. Furthermore, I think there has been an appreciation of the differing styles of leadership – I felt in the 90’s, there was a one-dimensional view of how you needed to be as a successful leader that was characteristically harder and more forceful and you had to mould yourself into that, now I don’t find that is the case.
Jodi Cartwright’s journey through the insurance industry offers valuable lessons for anyone aspiring to leadership, particularly in a complex and evolving field. Her emphasis on the importance of varied experiences, patience in career progression, and a thoughtful approach to both customer experience and business challenges highlights the qualities that have contributed to her success. As she continues to innovate with her new venture, Tint, Jodi remains a powerful example of leadership that combines deep industry knowledge with a forward-thinking mindset. At bpesearch, we are proud to share her insights and hope they inspire and guide other professionals on their path to success.
