An interview with Steve Ray

Name: Steve Ray
Role: Divisional Director, Professional Indemnity Division
Time at Howden: 7 years

What do you enjoy about your job?

One of the main things I enjoy about my role is building relationships with clients. Many of my professional relationships have developed into genuine friendships: clients think nothing of phoning up for risk management advice and a chat about a new favourite restaurant or exhibition. Those relationships are personally rewarding and valuable to my work. 

What are your career highlights?

In this job, there are times when a client will be bought out by a larger firm or a Private Equity house. The new owners have their own relationships with brokers and lawyers, and they want your client to drop their old relationships in favour of those firms. But sometimes, your client can convince the new owner to meet with you, and you can convince the owner that you are the best person for the job. When that happens, you walk away with a bigger relationship than you had before. That’s hugely satisfying.

Why did you choose to work in insurance?

I used to work in Management Consultancy, which gave me exposure to virtually every industry. I worked in perfume companies, banks and building societies, legal firms, construction, everything. What stands out to me about the insurance industry is the people. We have a lot of likeable people in our sector, who all genuinely get on. You build real friendships with people here. 

What makes Howden unique?

I have friends who work at different brokers so I can see very clearly how Howden compares. If you work in a US-owned corporate, the decisions are being made by people who aren’t familiar with your local market. If you work for a small independent, you are locally managed but don’t have the reputation or relationship to work with the big insurance houses. At Howden, we are independently owned, but large enough to compete with the big companies. We have the best of both worlds.

How is the industry changing?

During my early career, I saw bright, hard-working women passed over for promotion or having their career opportunities minimised. The corporate world and the insurance industry have both improved hugely since then, but we need to look at what more we can do to be more inclusive and supportive of everyone in the workforce. I’ve been clear for a long time that it doesn’t matter who people are, the important thing is what they do. Howden is making some great changes in that direction, and is recognising that equality at work isn’t just the right thing to do – the business benefits are huge too.