Susan Young to lead Sigma Connected insurance offering
Sigma Connected has appointed Susan Young as its new director of insurance services. The move comes as the professional services firm looks to grow in the sector.
Young commented, “This is an exciting opportunity to bring my skills to Sigma Connected and the wider BPO industry. Sigma Connected has a culture that is different to any I have come across and you can instantly see and feel the value we bring to the insurance market. My role is to ensure we continue to work with our existing and new insurer partnerships, making a strong and lasting impact.”
Founded in 2011, Sigma Connected employs over 5,000 people across the UK, South Africa, Australia and the US. The firm specialises in providing business process outsourcing, running 24/7 customer contact centre services. Services include customer service management, collections, complaints handling, and vulnerable customer support.
As the firm looks to expand its offering to the insurance sector, Sigma Connected has created a new group-wide role to head up its insurance services. In that position, Young will use her insurance expertise to build relations with businesses across the industry, identifying new opportunities and leading the onboarding process of new clients.
According to a release from the firm, Young “knows the sector inside and out”, and has successfully steered “one of the largest personal lines and private client brokerages in the UK”. Prior to joining Sigma Connected, Young worked in senior roles for 28 years at Gallagher Insurance, including 18 years at Giles Insurance, ahead of its acquisition by Gallagher in 2013.
Chief Commercial Officer Ben Jones, who Young will report to, added, “It’s vital we have first-class and experienced experts in every sector we work in and Susan commands enormous respect across the insurance industry. Susan will add immense value to our offering in the months and years ahead as we expand into the industry which, like others we operate in, is highly regulated. Her skills and experience of leading successful insurance businesses will allow us to create strong and lasting partnerships with our clients, backed by an understanding of the day-to-day challenges they face. She is already making a marked difference.”
The move comes as the UK insurance market enjoys a rise in income, with recent studies suggesting the sector is still on course for a healthy performance in 2023. According to the most recent ‘EY ITEM Club Outlook for Financial Services’, UK insurers are expected to close this year reporting strong overall premium income growth – thanks in part to sizeable premium increases, and improved household spending power.
However, beyond those positive figures, the UK’s insurance market – and that of Europe more broadly – is experiencing a number of key headwinds that should not be ignored. Other recent EY research found that Britain’s home insurance market experienced its worst performing year on record in 2022, for example, with further losses forecast across 2023 and 2024. Meanwhile, another study by Deloitte found life insurers are rethinking their strategies, business and operating models – as while profits are growing in defined contribution pensions, bulk annuities and drawdown, profits in other lines of business look set to shrink.
