We sat down with Vincent Nanceau, Underwriting Manager, to find out more about his time at MAXIS, how his role has developed, and how data and innovation are shaping the world of underwriting. We also discuss what he like to do when he’s not working.
1. You joined MAXIS in May 2020, during the COVID-19 pandemic, and have worked in both the London and Paris offices – how would you describe your time at MAXIS so far?
So far, so good! I can say that I was part of the “Lockdown class of 2020” – I still have the mug I got when I first joined, which I somehow managed not to break during my relocation to France!
On a more serious note, joining MAXIS when I did was a unique experience. I started my career at MAXIS in London and relocated to France in the autumn of 2021. I completed my training period remotely due to the UK lockdown in place as a result of COVID-19 and didn’t go into the office until I’d been at MAXIS for a year. Once lockdown restrictions eased and we were able to go to the office, I tried to meet as many colleagues as possible before moving to France as I hadn’t been able to up until then!
My time in France has not been too different to the start of my MAXIS career in London as I am not based in the Paris office – I live in Bordeaux, which means I work remotely, although I am able to go to Paris around once a month which is great – I love seeing and collaborating with my colleagues!
2. Can you tell us about your role and how it has evolved since you started at MAXIS?
I started my MAXIS career as an Underwriting Manager in looking after some of our clients and francophone countries (France, Belgium, Switzerland and Luxembourg). As an Underwriting Manager, my role needs me to have a technical view, acting as the link between the local underwriter and the global client in any given country.
Today, I still am an Underwriting Manager, however I now wear the hat of team leader, too, managing two of my underwriting colleagues. Since September 2021, I have also been involved in the development of MAXIS’ EU Underwriting Hub, which is now a huge part of my role.
3. Can you tell us a bit more about the EU Underwriting Hub?
The EU Underwriting Hub was born in 2021 and is headed up by me with two of my colleagues, all based in France.
The EU Underwriting Hub ensures that the risk confirmations to our local insurers which bind AXA France Vie and MetLife to the reinsurance of certain policies in our global programmes are provided in a compliant manner. The day-to-day role of the MAXIS underwriters is to review and validate the proposals from the local insurers which are being considered for reinsurance and refer them to the Hub for our approval, we will then send out confirmation of risk from the EU Underwriting Hub to our local insurers.
4. How have data and innovation helped to improve underwriting and the ability to price more effectively?
I think data innovation is key to advancing underwriting – if local underwriters have more accurate data, MAXIS will too. This leads to a better understanding of the market and also means that our quotes will be more accurate.
Data innovations help the entire process from start to finish, increasing efficiency and meaning we receive better data, more quickly, allowing for more efficient and better pricing.
5. What are the biggest strengths of the MAXIS network?
I think our biggest strength has to be the experience we have as a network, with AXA and MetLife as our shareholder companies – they are market leaders so we know we are working with the best. The network structure with the shareholders’ local subsidiaries and our independent network members – who are usually the No 1 in their market – ensures that we give a high level of service to our clients and are trusted in the market.
6. And what do you think are the biggest challenges for the network?
The biggest challenge is for us to remain market leaders and experts. We have to make sure that, as a network, we evolve with the industry, and don’t just sit back and relax. The needs of our clients are always different, so we need to make sure that we understand the market, and the needs and wants of our clients, so that we can respond to them. The biggest challenge is for us to remain market leaders and experts. We have to make sure that, as a network, we evolve with the industry, and don’t just sit back and relax. The needs of our clients are always different, so we need to make sure that we understand the market, and the needs and wants of our clients, so that we can respond to them.
7. What’s your favourite thing about working for MAXIS?
The multicultural environment was one of the main things that attracted me to MAXIS. As well as it being interesting to work alongside people from all over the world, speaking different languages, it also made me feel more comfortable when I arrived, knowing I wouldn’t be judged for my English not being perfect. As well as the multicultural environment, the kindness of my colleagues is something I appreciate very much – the atmosphere is so friendly and this makes the culture here great. The people make MAXIS what it is!
8. What do you like to spend time doing outside of work? (When you aren’t focusing on the EU Underwriting Hub!)
Sport! I love every sport, and would love to do even more, but it’s difficult to juggle hobbies with three kids and some injuries! I like to set up objectives for the year ahead – last year I did a swim-run with one of my friends which consisted of a swim in the Atlantic Ocean, and a run around a beautiful area in south-west France. This year I’m hoping to run a 40km trail in the French Pyrenees Mountains – wish me luck!
Outside of sport, sharing some good food with my friends and planning a holiday in the sun with my family will be the main goals of 2023.