Costantino Moretti joined Admiral in 2007 after completing a master’s degree in Business Engineering. He is now Head of International Insurance for the Admiral Group, overseeing our operations in Spain, Italy, France and the USA.
Can you give us a bit of an overview of your career pre-Admiral?I studied Actuarial Science and Statistics in Italy and started my career in Pricing, Reserving and Underwriting for a large Italian insurance group, which had multinational operations. I did some product development too, primarily in the motor insurance business. I worked there for about seven years, so I came to know the Italian insurance market quite well, which set me in good stead for my career at Admiral.
How did you come across Admiral?There was an element of opportunism, as I was looking to change my career path. In my previous technical roles, I had spent much of my time looking at the numbers without being able to see the bigger picture. I wanted to move beyond this and progress into general management. When I came across the opportunity to be a part of Admiral’s Italian launch (Conte), it seemed too good to miss!
What really attracted me to Admiral was the culture. It was refreshing to see the entrepreneurship, openness and the element of fun. People seemed to really enjoy their work.
I was exposed to senior leaders in the business from the start, first meeting Milena in Italy (now our Group CEO) before being interviewed in Cardiff by Henry (founder and CEO emeritus) and David (co-founder and former CEO) as well as Peter (International Pricing Director). It was clear that this was a company with a unique culture that took their people seriously. I was captivated by the energy and competence of everyone I met.
Tell us a bit about your Admiral journey?I started as an underwriting manager and am now Head of International Insurance. After starting, I quickly moved on to cover other roles at Conte, setting up new teams, including complaints, compliance, legal, product, operations and more. I kept moving around the business to learn as much as I could and continued to build my experience and skills. My number of reports increased with time and I seized each new opportunity to get involved in something bigger.
In 2016, I was well positioned to become CEO of conte.it after nine years in the business. I held this role for four years before stepping into my current role of Head of International Insurance in the middle of 2020. It has been an eventful journey and each new role has brought new challenges. There is still so much to learn but I am deeply excited by the future.
We know that 2020 was a tumultuous year for many. How has your experience as Head of International Insurance been shaped by the pandemic?I became Head of International Insurance but did not make a single international visit in 2020! It was a shame. I wish I could have travelled around our operations to meet everyone in person. This face-to-face contact is something I think many of us will appreciate in a new way after the restrictions of the last year.
Nonetheless, it has been an incredible year in many ways. We have demonstrated strong resilience as a business and as a community. We were able to deliver fair outcomes to customers and I was blown away by the efforts that went into making this happen. Seeing staff step up and go the extra mile was humbling. We adapted to working from home, increased engagement with our staff, overcame new challenges with each day and have learned so much.
While there have been a lot of difficult moments, I truly believe that the Admiral culture, particularly it’s four pillars, has supported us through it all: Communication, Reward and Recognition, Equality and Fun. These have been so valuable to us in the middle of a pandemic.
Did you notice any cultural differences between the UK and the Italian operations?The key pillars of the Admiral culture remain the same across our operations. When you walk into an Admiral office, whether it is in the UK or overseas, there is a distinct Admiral atmosphere. The infrastructure (and the weather!) may be different in the UK vs Italy for example, but the people are the same. The Admiral DNA translates very well across our international businesses.
There is of course a cultural richness that the international operations bring. Nuances in behaviour and customs for example bring a diversity that can only be considered a strength for us. The mix of international cultures and individuals we have in the Admiral Group is something quite powerful.
What has been your proudest moment to-date?My proudest moment to-date was when Conte became profitable in 2014. I will never forget that feeling. It was truly one of the most rewarding times.
We’d set up the business from scratch and seen it grow and face numerous challenges. So, to see it turn over a profit was quite special."
What advice would you give to MBAs considering a career with us?First, be truly passionate about what you are doing. If you don’t have passion, then your work will be extremely difficult.
Secondly, cultivate your talent. If you are hired as an MBA at Admiral, it is very likely that you are talented. You will have been selected for a reason. But having talent means having the responsibility to develop it further. It’s great to be naturally skilled at something, but if you don’t cultivate your talent, you won’t become a true champion!
Finally, be brave. Take opportunities that come your way. Go the extra mile. Don’t be afraid to make mistakes but keep learning and failing fast.