Broker Profile: Becca McCullough - Leading Servca in Northern Ireland

Can you share a brief overview of your journey in the insurance industry and how you got started?

My journey into insurance started entirely by accident. I was made redundant in January 2009 from Saint-Gobain, one of the largest global construction companies, following the collapse of the construction industry in Ireland. I had always envisioned my career remaining in the construction industry, but due to significant reductions in employee numbers within the construction sector, I sought opportunities in another field. I began my insurance career at a local NFU Mutual office in Crumlin, where I started with Personal Lines and signed up for every course available. This comprehensive training provided me with an understanding of all Commercial & Personal Lines policies. Wanting to continue my journey, I joined a local broker, and from there, my career in insurance took off.

What motivated your decision to join Servca?

What really motivated me to take the role at Servca was the challenge it presented and the potential for success. Servca offers the opportunity to make a substantial impact, and I was excited by the prospect of shaping the role according to my vision. This potential for influence and growth was a major motivating factor for me.

What is your vision for the launch of Servca in Northern Ireland?

My vision for Northern Ireland is to build a new model for Lloyds brokers. We will be the first Lloyds Broker with a dedicated office in Belfast. I believe the core strength of our proposition lies in building lasting partnerships with local brokers, addressing their biggest challenges, and supporting clients in growing their businesses alongside our own. I aim to establish a business unit that will drive our operations in the region, creating new opportunities for growth and collaboration within the local market. This will be pivotal in expanding our footprint and optimising impact.

What’s the most rewarding policy you’ve placed?

While I have placed some very large policies, I find the most rewarding ones to be those that help clients stay in business. Sometimes, the cost of insurance can make a business non-viable. The most gratifying policies are those where I have been able to structure a program and provide clients with savings to ensure their business continuity. The gratitude expressed by clients for helping them stay in business often leads to long-standing relationships.

What industry trends have you seen over the last year?

Casualty & Property sectors continue to harden, with no full reduction in capacity and increased premiums. This trend is particularly notable in Northern Ireland, where Casualty claims are subject to 'The Green Book,' resulting in higher settlement rates than the rest of the UK. Consequently, Northern Irish commercial clients face challenges with a decreasing number of insurers willing to write business and increasing rates due to high claims reserves and reinsurance costs. This trend is most prevalent in the property, construction, and hospitality sectors. Conversely, Professional Indemnity (PI) has entered a sustained soft market, with lower rates and substantial increases in cover availability. Increased capacity and lower premiums across the board mark a positive change for clients who previously had to accept lower indemnity limits, significant restrictions on cover, and high premiums.

What's a typical day like for you? Any morning rituals or habits that keep you on top of your game?

I am an early riser, so I like to start work as soon as possible. Good coffee is essential to my routine, and I consume a significant amount daily. I also enjoy listening to music or podcasts before starting work to get into the right mindset.

Outside of the office, what's a hobby or interest that people might be surprised to know about you?

I am a complete geek who loves to read. I don't watch much TV and read 230 new books last year. I typically have about four active books in rotation at any given time, switching between them depending on my mood.

And finally, what advice do you have for individuals aspiring to work in the insurance sector? Are there any key principles or lessons you wish you had known when you started your journey?

One of the great things about insurance is that anyone can make it their career if they are willing to put in the hours and effort. There are no shortcuts; hard work is essential for success. I advise aspiring professionals to learn as much as possible, listen to experienced industry veterans, and continuously hone their knowledge.