Lucy Clarke on digital transformation
From Ep245 Lucy Clarke: Sleeves Rolled Up · · The Voice of Insurance
“The broking platform is now in 18 countries and at its most functional it can receive data in whatever format, make it structured, create a submission, run core models, send it out to the markets, and eventually bind the business. Today about 25% of our premiums are running through it, and by the end of this year our top eight countries will be 90%, with the rest by the end of 2026.”
On , Lucy Clarke, President of Risk & Broking at Willis Towers Watson, spoke about digital transformation during Ep245 Lucy Clarke: Sleeves Rolled Up on The Voice of Insurance.
About Lucy Clarke
Lucy Clarke, President of Risk & Broking at Willis Towers Watson, appeared on the "Voice of Insurance" podcast in April 2025, her first interview in three years following a period of gardening leave and her move into the role. She discussed the firm's strategy, describing the December 2024 investor day not as a reset but as a plan building on existing foundations, including a specialization strategy and a global broking platform now operating in 18 countries. Clarke stated that approximately 25% of premiums are currently processed through the platform, with a target of 90% in the top eight countries by the end of 2025 and full implementation by the end of 2026. Clarke addressed several areas of focus, including the use of artificial intelligence to convert unstructured data and compare policy documents, and the firm's MGA strategy, which includes the Verit MGA in the US with planned expansions into Great Britain and Europe. She described the current market as more competitive but still disciplined, with rate adequacy. On reinsurance, Clarke characterized the opportunity to build a new reinsurance business as "once in a generation," noting it is an organic build with an independent platform, though she said M&A is not ruled out. She emphasized the importance of client service, accuracy, and timeliness, and described cultural fit as a key criterion for potential acquisitions.