Transitioning to a Non-Executive Director Insurance Role – Adrian Saunders

Having worked within the Insurance sector for over 40 years, positions included Commercial Director Ecclesiastical Insurance Group, Head of UK Affinity Solutions Marsh and Managing Director Strategic Partnerships Zurich Financial Services, Adrian made the transition to building a NED portfolio.

Current roles:

Non Executive Director – NPAI and Peach

Non Executive Director – iprism Underwriting

What attracted you into taking on NED roles?

With over 40 years’ experience in the insurance industry whilst I knew I wanted to step away from a full-time role I also recognised I had a lot of experience that I didn’t want to just let go of. Whilst consultancy work was an option, based on past experience I knew this could be unpredictable in terms of timing and commitment which lead me to focus on developing NED roles.

How did you decide which opportunities to pursue?

I have some very simple criteria - people I respect and trust, a business with a sound and ethical culture plus an environment I believe I can add value. Beyond this I think it’s important to keep an open mind as the opportunities are diverse.

What was the biggest learning curve?

There have been a whole host of learnings and there will continue to be many more, I am sure! At the outset don’t be surprised if opportunities don’t come from where you expect, but one thing is certain your professional network is important for valued advice.

What do you see as the main differences between a full-time position and an NED role?

I would highlight what I am sure is a common challenge and that’s adapting from directing and doing to providing constructive challenge. Your executive behaviours are more engrained than you might imagine, adapting those behaviours needs a degree of reset in your approach and thinking.

What do you enjoy most about NED responsibilities?

For me it’s the variety of being involved in different businesses, seeing their various challenges plus opportunities and being able to support across a wide range of issues. You have more time to be considered in your contribution than you may have found in a full-time role.

What advice would you give to someone looking to build a NED portfolio?

Be clear on why you want to do it as it needs to be a real commitment. Alongside this consider the type and size of business you think you are a good fit for plus the aggregate commitment you want to achieve. Reflect on your experience and be clear on your proposition to a prospective business, set your own guide rails to help challenge and assess opportunities.

In your experience how does the responsibility of NEDS vary?

Whilst the rhythm of NED roles is typically defined by Board meetings and involvement with committees, there is also the advisory role you play plus the opportunity to provide mentoring / coaching. Time commitment varies I think the key is being flexible, recognising this isn’t a 9-5 role, your time commitment may be more fragmented.

Any other helpful points to consider?

When you are in a full-time role you are naturally linked into what is happening with your suppliers, competitors, regulatory bodies etc. so you need to be prepared to find your own way of staying abreast with developments through sourcing reading, networking etc. There are lots of potential routes, finding what’s right for you takes time.