This month Simon Miller, Director, speaks about what makes Yutree the go-to insurance broker for the media and entertainment industry.
What made you start Yutree as an independent broker?
I’d always had a real desire to start my own company and when the opportunity arose to form Yutree with some ex-colleagues I had really enjoyed working with previously, the timing was perfect.
What was your background before joining Yutree?
My first job straight from college was with Guardian Insurance (subsequently bought by AXA) and after 3 years learning about underwriting I switched over to the broking world and have been there ever since. The media & entertainment specialism came about from my role prior to forming Yutree, as Sales Director at Allan Chapman & James in Colchester who had for many years been a leading broker in this sector.
What does your job involve on day to day basis?
Along with our Managing Director Kevin Hancock, I lead our direct client business. So a typical day is spent advising clients, managing renewals with the team and generating new business. Away from the client facing side, I work with our underwriters developing our proposition for our own and our brokers’ clients.
Why is the Media and Entertainment market so important to Yutree?
The sector gives us the opportunity to offer a level of advice, cover and service that is very specific to our clients and not typically provided by general commercial brokers. Media and Entertainment is a genuinely niche sector within the insurance market so there are actually very few brokers specialising in the same space. We share this expertise with our broker partners giving them access to our market-leading solutions in this sector.
How do you interact with the sector?
We are very proud to be the approved insurance provider for the Professional Light & Sound Association (PLASA) which is an association representing companies and freelancers specialising in the entertainment sector. Members include companies who provide lasers for concerts through to sound programming for opera. We also have a core of business in London’s West End which comprises post production facilities, studios and production companies.
Where do you see the biggest risks emerging in the ever-changing media world?
Without a doubt the value of content presents a significant risk to the media sector. Hackers and internal theft by employees of filmed content is becoming more common. Criminals are looking to illegally obtain filmed content and threaten to release the film or program on the internet prior to its official release unless a ransom is paid. Our clients are reacting to this challenge by investing in robust computer systems and establishing locked down environments where online access is restricted or completely prevented. We support our clients with risk management advice and insurance protection in the event that their defences are breached.
What’s the most rewarding part of your job?
Handling claims quickly and well for clients is always so important and we have a great claims team led by Nick Carson which means we consistently deliver on that front. Building the team and seeing them grow in terms of knowledge and skills is also very rewarding.
How do you relax outside of Yutree?
Sport is a big passion and aside from watching pretty much any sport, I’ve been involved in hockey since I was 13 years old, playing, coaching and managing at Ipswich Hockey Club. Following my daughter’s netball team also seems to be filling more time recently!