In this episode of MGAA Conversations, we are privileged to be speaking with Tara Foley, CEO at AXA UK and Ireland, our first Platinum annual sponsor.

Tara notes the importance and mutually beneficial nature of our partnership, such as AXA’s climate training initiative which is available to all MGAA members. Indeed, she suggests that such training will become increasingly crucial as our industry navigates the major challenges facing the world today: climate change, AI and cybercrime. Tara argues that such training, amongst other initiatives, will be key to attracting and retaining new talent. To more confidently wage the war for talent, we must also highlight how universal and purposeful our industry is.

A career in insurance promises to be fulfilling and purposeful, contrary to the grey, stuffy image which our industry continues to project to the uninitiated. As we strive to recruit future industry leaders, we must first confront and dismantle this presiding collective preconception.

Furthermore, individual organisations must consider how they can become ‘destination workplaces’, by curating new training opportunities, alongside additional benefits to meet the expectations that new generations of workers expect of their employers. Tara also dissects emerging fears that Gen AI will soon replace many insurance careers. She suggests that it will be deployed as an enabler rather than an end in itself, automating bureaucratic tasks and enabling the workforce to strengthen service capacities and maintain or grow their business partnerships.

Quote:

“We're all concerned with what forces shape the nature of the risks that we're looking at today: climate change, AI, cyber. All of the big issues that society is facing, are issues that we need people to be actively involved with. And the endgame of all of this is we show up for people when they really need us, when they’re vulnerable. So, to me, [insurance is] an industry that offers a very empathetic career path. It's got the full spectrum. If you want to be challenged intellectually, there's plenty of that. If you want to be very people-focused, there's plenty of that. I just think we've got to get better at how we explain that.”

“We [AXA UK and Ireland] can't be specialists in everything, and we don't want to be. We get a lot of capability by partnering with members of the MGAA organization. We've got long and successful histories of that. I think we learn from each other. We can provide things to members of your organization that you don't have and, and vice versa. So, it's a very complementary, symbiotic relationship that we have.”

Resources:

AXA UK – https://www.axa.co.uk/

AXA Climate School – https://axaclimateschool.com/

About the Guest:

Tara Foley is the Chief Executive Officer of AXA UK and Ireland, appointed in September 2023. She has previously worked in managerial roles at Lloyds Banking Group and Deutsche Bank.

Tara’s LinkedIn Profile:  https://www.linkedin.com/in/tara-foley-56327212/

About the Host:

Mike's extensive expertise in the insurance sector has allowed him to witness and adapt to the dynamic shifts within the industry. Throughout his 40 year career, he has navigated the traditional realms of insurers, brokers, and MGAs (Managing General Agents) across both Commercial and Personal Lines markets.

He has held Executive positions at AXA, Midas, UK General and most recently Insurtech start up Qlaims before becoming Chief Executive Officer at the MGAA in September 2020. 

Mike is excited about the new MGAA podcast series, which aims to showcase key figures in the UK insurance industry and beyond, providing insight into the challenges and opportunities that the MGA industry encounters.

Mike's LinkedIn Profile: https://www.linkedin.com/in/michael-keating-230b8424/