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Admiral Travel Insurance - From inception, through COVID-19 and beyond.

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MBA

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Blog

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11/09/2020

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Cosmin (INSEAD 2012) joined Admiral as an International Pricing Manager on our SPARK Leadership Program in 2012. He has had a unique journey which led him to start up and now lead the Travel Insurance department. We caught up with Cosmin to find out more about his experience. How did you end up launching travel insurance?My pricing experience gave me the confidence to know how to do something well, but I was looking for something a little bit broader to apply that knowledge to. That is what made me look at wider business opportunities and there was a good case for creating a travel insurance product. If you look at the travel market in terms of volumes, it's relatively small compared to motor or household, but if you look at the number of people buying it, it's around 35 million and there’s an interesting overlap in terms of profiles between our household book and potential travel book. This means that travel brings you a flow of new customers. We also had confidence in the claims data and wider research we had done. Travel insurance was the most popular product that people expressed an interest in buying from Admiral. Finally, I felt there was a lot of room to disrupt this market and challenge the status quo, which made it a really exciting challenge.How has COVID-19 impacted our travel insurance product?Our IT system is quite different from what you see in the market giving us a fantastic agility to adapt to changes. In the case of Covid-19, there were a few nerves in the beginning, but we addressed them as a team. We always think about the opportunities of any situation and take on the challenges as a team. After all, we are an insurance company, so we do know a little bit about risk! We need to look at what’s happening with Covid-19 from the right perspective – this is likely a one-off event that nobody has any control over that won’t happen again for another hundred years. Covid-19 won’t make travel less attractive in the long run and it increases the awareness around the need for a good travel insurance product. In the UK, there is already a higher demand for travel insurance and customers want a good product. We have already made changes to make it better, including giving people more flexibility with regard to cancellation. It allows people to cancel without any kind of penalty and covers them for Covid-19 related medical emergencies while abroad.The customer is always at the centre of what we do at Admiral. We have always adapted to change and disrupted the market - ever since our humble beginnings in 1993 - and that is what we will continue to do. I’m excited to see what the future brings!You can find out more about the journeys our MBAs have taken here or read more about our MBA Leadership Programs. Alternatively, follow our MBA Leadership page on Linkedin.

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Kat Gil Mast

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Kat Gil Mast

Kat Gil Mast

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Kat Gil Mast

What you need to know about our Graduate Programs

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Graduates and Students

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Blog

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21/08/2020

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How long does the programme last? Both our core and analyst programmes last for up to two years, our core programme is split into four six-month placements and our analyst programme is made up of three eight-month placements. Slightly longer placements for analysts means that there is plenty of time to pick up on how to use specialist software like SAS, Python and SQL. What will the programme cover? You will join Admiral with fellow graduates and benefit from a comprehensive five-week induction, which not only gives you the opportunity to network and build friendships at work but also a strong foundation to start your first placement. You will learn about the insurance and Fintech industries, our history, culture, products and customers as well as being part of interactive workshops to develop presentation skills and work-place competencies through the externally recognised ILM Level 2 qualification. Thanks to the success of our previous schemes (our programme has been running since 2006), Graduates are held in high esteem by managers from across the organisation who will have specifically requested for you to join their teams. This means you will contribute to and take ownership of projects with real responsibility which make an impact on our business. Most recently, Grads on our core scheme have undertaken placements in departments such as Marketing, People Services (HR) , Claims, Compliance as well as with our sister companies, start-ups Veygo and AFSL. Our analysts focus on more data-driven departments, recently taking on projects in areas including Pricing, Data Analytics, Management Information and Automation. At the end of your first two rotations you will undertake ILM Level 3, as well as non-department specific training throughout your placements on topics such as project management, emotional intelligence & resilience and neurodiversity. You will choose your final placement in an area where you would like to accept a fixed role, using your learnings and experiences from the programme to determine your career path off of the scheme.   How will it help me in the future/career prospects at Admiral Completing several placements in diverse areas of the business means that you will develop a strong understanding of how our business works while developing an array of work-based competencies. It also means that you will be exposed to industry experts across a variety of departments, building a well-established network and will have plenty of opportunity to find your niche. Our Graduate Programme is first and foremost a developmental programme which means we work with you to ensure that you are growing and progressing with each placement. Will I get paid along with other benefits?   Our starting salary is £21,000 a year and after one year of service you will also be awarded up to £3,600 worth of shares each year that you are with us.  You will also benefit from various perks that we offer, such as discounts on insurance and in businesses across South Wales, a cycle-to-work scheme, free fruit and gym access, a salary advance when moving home and more. Why Admiral? What makes Admiral’s Graduate programme different 1. Flexibility and the chance to try our different careers - The Grad scheme at Admiral is the perfect opportunity to try out different careers. Your first placement is selected for you by our Programme Management team, after this, you can choose your subsequent placements anywhere in the company, even if they are not linked to your degree or past experiences. Within Admiral we have several start-ups, allowing you to gain insight into the running of an entire business. Take Admiral Pioneer for example, our recently launched our start-up hub, conceived with the aim is to seed, launch and scale new business initiatives in insurance and non-insurance growth areas. 2. Support and networking – You join the company with other graduates who you have regular contact with throughout your career with Admiral in the form of ongoing training, meetings and regular socials. You will also be joined by graduates from previous cohorts (including a grad buddy) meaning you have a strong network within the company from your first day. Throughout your time on the programme you are supported by our Programme Management team and your business mentor (an industry expert ready to share their expertise with you) as well as your line manager and team on each placement. 3. A personalised experience – our Programme Management team and the wider company are dedicated to providing you with the best experience possible, allowing you to shape your pathway at Admiral. This could mean supporting you in seeking out bespoke placements, created to align with your interests, skills and areas for development, or by providing one-on-one coaching and training. Self-development is actively encouraged and our Buy-A-Book scheme covers the cost of providing you with two career-focussed books each month. There are also plenty of opportunities to get involved with projects outside of your placements, and we operate several Diversity working groups dedicated to areas such as Age, BAME, LGBTQ+, Disability and Social Mobility which you can get involved with as well as frequent opportunities for charity work and side-projects. How do to apply? Take a look here: How to secure a place on our Graduate Programme                        

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Emily  Bonney

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Emily Bonney

Emily  Bonney

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Emily Bonney

Admirals past, present and future - CEO Emeritus Henry Engelhardt

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MBA

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Blog

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10/08/2020

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Admiral was launched on January 2, 1993, co-founded by two MBAs: CEO emeritus Henry Engelhardt and current Group CEO David Stevens. We asked founder, Henry Engelhardt, how he sees Admiral – both now and in the future…  “Admiral is an MBA success story. David and I met whilst completing our MBAs at INSEAD in 1988. We went our separate ways for a bit and then got together, in the middle of 1991, to create and run Admiral.  Today we primarily sell car insurance to private individuals - we’re market leaders in the UK but also have operations in Spain, Italy, France, and the USA - with a bit of home insurance and loans thrown in for good measure. We were the first to launch price comparison of car insurance in the UK, and now also have price comparison operations in Spain, France, India, Mexico, and the USA.But that is the past and the present, what about the future? What are we going to do next? And the answer to that is: I honestly don’t know! I don’t know what this company will look like in another 15 years’ time. I know it will be different, but I don’t know how. It isn’t far-fetched to think that someone reading this might be the catalyst for defining the Admiral of 2035. Since we launched all our growth has been organic. Historically, we have not been known for doing acquisitions, but that could change going forward. We are one of only two firms in the FTSE 100 to have gone 10 consecutive years, from 2004 to 2014, right through the heart of the previous crisis, making record profits every year. We floated on September 23, 2004, at £2.75 a share. We’ve paid over £3 billion in dividends and the shares are now worth £23 each. Our market cap is right around £7 billion, all from that humble start on January 2, 1993.  Henry Engelhardt But Admiral is changing - we recently announced that David will soon step down as CEO and turn the job over to Milena Mondini, an INSEAD alumna herself. It will be the first time in Admiral’s history when it is not led by someone who was there on day 1. It will also make us one of just two companies in the FTSE 100 with both a female chair and female CEO.So why did I, and now David, choose to retire? When Admiral came into being in the early 1990s, the large and established insurance companies of the day were being led by 50-60 somethings. David and I were in our 30s. We did things differently. We were happy to pick up on new technology, new ways of management, and take risks. It came naturally. And, very simply, we destroyed those old, established insurance companies of the day.  A few years ago, we realized that Admiral was now the large and established insurer of the day.  And we were being led by 50-almost 60 somethings! We were soon to be part of the problem, not the solution. It was time to begin the transition to the next generation. So, we did.For those of you who see Admiral as in insurance company, I say: that’s what we mostly do now. But the future? Who knows? Since our inception, we have been an innovator and disruptor, developing new products like Multi-Car and Car Sharing that reflect the changing nature and needs of our customers. But, customer needs are fast-changing, and alongside rapid advances in technology, this means we need to move fast to remain relevant. For a company without a mission statement here’s our mission statement: Satisfy customers, make money, have fun. Doesn’t say anything about insurance, does it?” 

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Admiral was launched on January 2, 1993, co-founded by two MBAs: CEO emeritus Henry Engelhardt and current Group CEO David Stevens. We asked founder, Henry Engelhardt, how he sees Admiral – both now and in the future…

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Kat Gil Mast

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Kat Gil Mast

Kat Gil Mast

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Kat Gil Mast

What Admiral looks for in a successful candidate

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Contact Centre

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Blog

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24/06/2020

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There is no one type of Admiral employee and we’re always looking for people who can bring new experiences and perspectives to our teams. If you’re looking for an employer who values ambition, eagerness, inquisitiveness and a desire to learn, then a role at Admiral may be what you’re looking for. To apply, and be successful in a contact centre role at Admiral no previous experience in insurance or call centres is required. We consider the potential of the candidate, their eagerness to work here, their ambition and enthusiasm, over any previous experience in a similar role.You also don’t need any specific qualifications to join the contact centre teams at Admiral. If you are self-motivated, polite, friendly, responsible and hard-working then you already have the core skills and attributes that we value in our team. We provide training for all other skills you’ll need to be successful in your role.It’s just as important that you like us as we like you, so as part of the recruitment process you’ll get the opportunity to come in the office, where we’ll tell you a bit more about the company, you can sit in with the department you are applying to join and get the opportunity to ask any questions you have. When you attend one of our ‘meet and greets’ you’ll notice that we have a unique culture which we want staff to enjoy and believe in and who be great ambassadors for the business. If you believe in what you’re doing and you’re happy in your role, you will provide the best possible service to our customers, which is our philosophy, ‘people who like what they do, do it better.If this all sounds great to you and you want to stand out amongst the crowd at application stage focus on your application, this is the first piece of information we’ll see about you so take the opportunity to go into as much detail as you can, drawing from any relevant experiences as much as possible. This is also your chance to show off the research you’ve completed on the role and the company. Candidates who have completed thorough research tend to sell themselves very well. And always use spell check!If you’re successful at the application stage make sure you prepare for the telephone interview and face-to-face interview by having a thorough read through your job description and have a good understanding of what the department you are applying to is looking for.  This information can normally be found in the job description, which can be found on our website – try looking at the relevant department section, under ‘Working Here’. Also take a look at ‘Inside Admiral’ to get a better understanding of our culture and what it’s like to work here.You have a short window of opportunity to impress at the face-to-face interview and to allow the interviewers to gain good insight into your personality; be happy, inquisitive, always show your enthusiasm and willingness to learn, that will really impress the interviewers. And don’t forget to smile!Finally, how can the candidate be successful in the role – any top tips?Beyond the interview, if you are keen to build your career at Admiral, you’ll need to display a tremendous work ethic, with key qualities such asPunctualityInquisitivenessSuccessful at hitting targetsAmbitiousFriendlyTeam playerTo summariseStand out at application stage by having a detailed and error-free application.Stand out at telephone and face-to-face interview stage by showing that you’ve completed your research on the role and company – have a good understanding of both, and again expand on your answers as much as possible, drawing on any relevant experiences from college, university or a previous or current job.In the face-to-face interview, relax, be yourself and smile.Don’t forget, if you have any questions, please feel free to contact us on 0800 118 1619 or workwithus@admiralgroup.co.uk

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Kyle Meacock

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Kyle Meacock

Kyle Meacock

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Kyle Meacock

Culture at Admiral – One dream, one team

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Contact Centre

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Blog

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24/06/2020

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Admiral’s four pillars help define our unique workplace culture and have been the basis for some of our greatest achievements, including being on the Sunday Times Best Companies to work for list for the 17th year in a row. Communication - our first pillar is centred on ensuring that everyone in the company feels involved; everyone knows what’s going on and feels part of a collective endeavour. It’s just as important that communication goes both ways, with people feeling that they can approach any level of management with an openness and willingness to share problems.Equality - we ensure that there are no obvious signs of separation with managers sat amongst their teams on the floors so that everyone is made to feel equal . One of the other ways that we ensure there is equality is by awarding up to £3,600 of shares every year to everyone, at every level in every part of our business.Reward & Recognition – staff are rewarded in terms of incentives, bonuses and in the form of shares. Of course, there is more to rewards than money. It is extremely important to us that we praise people when they do a good job – we give constant feedback and say thank you for doing a good job day in day out.Fun – Our philosophy is that ‘if people like what they do, they do it better’ - staff are encouraged whenever and wherever possible to have fun and spend time with colleagues – this makes life more enjoyable and helps get to know each other better with team away days, afternoons out, Christmas and summer parties and regular competitions and ways to get involved as part of our ‘Ministry of Fun’ offer ways to do this.How does the culture differ to other companies?Unlike many other companies, Admiral has an informal working environment where staff are trusted and have autonomy within their roles. Through Admiral’s flat hierarchy, decisions are made collaboratively and quickly to respond to change and these changes are implemented almost immediately, whereas, in many corporate companies, decisions are made at the top and can take a long time to implement. Management here are flexible, approachable and are there to help you flourish and develop in your role with a good work / life balance encouraged. We spoke to Amiee from People Services - ‘‘My manager approached me and asked if I was finishing early on the day that my daughter was starting high school – it was the thoughtfulness of it all that makes it such a nice place to work here.‘‘They go out of their way to make you feel appreciated and that you’re useful. When I first started I was introduced to the Head of People Services on one of my first days and I had no idea that he was such senior management – you don’t get a sense of the ‘big shots’ here, everyone is down to earth and very approachable. I work with such lovely people and I love that I have job security here’’.We have everything you’d expect from a large FTSE 100 company, like a contributory pension scheme, free shares and dental care, amongst others. However, our commitment to providing staff with the services and support they need to ensure that they are happy and healthy in their working lives ensures we are offering more than the basics.Admiral’s laid back atmosphere means that staff can wear what they feel most comfortable in to work – be it jeans or joggers.There are also endless opportunities to advance your career with regular internal job postings, support and training. By investing in our people and maintaining a supportive workplace, we can assist our staff in achieving their career goals and personal aspirations.Follow us on Facebook for a peek inside Admiral!

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Kyle Meacock

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Kyle Meacock

Kyle Meacock

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Kyle Meacock

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