'My First Three Months at Concirrus’ with Sam Mellett

In the first of our 'My First Three Months at Concirrus' series we meet Sam Mellett our Business Analyst for Quest Marine Hull. Read on to learn more about his hobbies outside of work, the challenges he's faced and how he sees the industry benefiting from Quest and much more!

A bit about me

Previously a Hull & Liabilities Underwriting Assistant at Antares, I’m now a Business Analyst within the product team at Concirrus. I focus on applying my underwriting expertise in the development of Quest Marine Hull. Specifically, I make sure the product is tailored to the needs of Underwriters in terms of usability. When at Antares, I was in a team of three people who handled large portfolios. That gave me the experience and knowledge I needed for my role here at Concirrus.

Work aside, I’m very social, love to test my limits and make the most of every opportunity that presents itself. This is especially true when it comes to sport! Tennis is my passion. I was the social secretary of Exeter University’s Tennis Club whilst studying Psychology and spent six months playing tennis at an academy in Australia a few years ago. I started a bit too late to make it professionally, however that doesn’t stop me from picking up a racket when I get the chance!

Tennis aside, I regularly play five-a-side with work colleagues and like to take on unique challenges, such as cycling to Rome, which was an unforgettable experience.

What do you get up to in your spare time?

I’m the co-founder of Oxus Dry Gin. We recently launched our gin in Ibiza and I spend most of my spare time on developing the business. Our product is smoother than traditional gin, making it more appealing to those in the 20-30-year bracket. The idea stemmed from my time at University, where people wanted to enjoy gin but didn’t like the bitter taste.

The difference between the Insurance and InsurTech industry?

By its very nature, insurance centres around predicting and planning for the future by analysing the past. Analysis is daily and assessments are annual, creating a pattern which is maintained throughout the year. In InsurTech, you’re shaping the future by solving industry specific challenges to change the way risk is understood. Joining Concirrus, I quickly realised you need to actively approach and understand the needs of every department. Collaboration is key to be successful.

What is it about your role that you enjoy the most?

I regularly visit clients to better understand their needs and make sure they’re considered in the development cycle. My role is extremely exciting, as I am getting to shape the future of such an influential product. Being part of a team where you feel like you’re making a difference is a great feeling. The product team is diverse, with a multitude of skillsets, so we all help each other out.

In my first couple of months I got the opportunity to visit clients in Oslo. I really enjoy working abroad and understanding new cultures. The fact that Concirrus is projected to expand into International markets is very exciting.

What are the biggest challenges you’ve faced so far?

Relative to others in the team, I have a limited tech background, so I’ve had to take the time to better understand backend development. Elements you would assume should be easy are tough in reality for specific reasons. Gauging how long certain tasks take to resolve has been the biggest challenge for me. However, I speak to the developers every day which ensures context.

What was it like joining Concirrus?

I thought my first week would be pretty relaxed, mainly consisting of intro's and time to find my feet. etc. It wasn’t quite like that… The team weren’t afraid to put me in at the deep end, which in fact, is important for a role like mine. Within my first hour I was asked to look at Quest Marine Hull and give feedback on how the product could be improved for the following Monday! I thoroughly enjoyed having so much to do on the outset, and it immediately exposed me to other areas of the business.

The team is incredible. It's great to be able to turn up, work hard and have fun while doing it. It’s testament to the culture here, alongside flexible benefits, such as working from home when needed.

How has Quest Marine Hull changed?

The product was very functional when I first saw it. We’ve now provided more contextual information. Underwriters can look up a fleet or vessel, see the factors which influence risk score and better understand the reasons behind an expected loss valuation. Underwriters can also use such factors to make a more informed decision around why the risk is good or bad.

How do you think the industry will benefit?

The insurance industry has been losing millions for many years, so their current methods of assessing risk aren’t delivering. Looking at how risk is assessed, they do not include behavioural factors, which are better indicators of risk vs static demographic factors. By providing this level of insight in a way that is both clear to understand, and scalable across an organisation, loss ratios should improve. Better performing portfolios will lead to profitability, making a far healthier market to operate in.