23 April 2015 Insurance

60 seconds with Simon Thompson

Simon Thompson, the newly appointed leader of Marsh’s chemicals and life sciences practice, UK and Ireland, talks to Intelligent Insurer about reaching a crossroads, tackling complexities and chasing the ‘buzz’.

Why is this move right for you at this stage in your career?

One of my favourite sayings is, “If you always do what you always did, you'll always get what you always got…” and at 55, I found myself at a crossroads. The choices: a secure, predictable route into retirement, or a calculated risk and a new challenge. This opportunity at Marsh will allow me to apply my skills and experience in delivering risk solutions to the rapidly developing chemicals and life sciences sector whose business objectives I admire, bringing benefits to millions.

What will you bring to the role?

I have over 15 years’ experience in designing and delivering risk solutions for chemicals and life sciences clients globally. I am passionate about leveraging Marsh’s diverse talents across the risk and insurance spectrum, to help our clients address their current and emerging risk challenges.

What are your initial objectives in the new role?

The European chemicals and life sciences sector is being challenged by an increasingly complex risk landscape. More demanding regulation, increasing competition, new technology, product development and sustainability are among the industry’s chief concerns.

One of my initial objectives is mapping Marsh’s value proposition for the chemicals and life sciences sector so that we can deliver services and solutions that satisfy the evolving needs of our current and future clients, and contribute to their long-term success.

What will be your biggest challenge in the new role?

Managing the opportunity – there are only 24 hours in a day!

Why did you choose to work in this industry initially?

In all honesty, it was the most intriguing of a range of offers at the time and once in, the buzz was (and still is) addictive. Creating and brokering agreements between parties, whose initial ideas of successful outcomes are frequently not aligned, never fails to satisfy.

If you had chosen a different career path, what would it have been?

I come from a medical family and it would have been predictable to have followed in my father’s footsteps. That said, I'm confident that my success in helping minimise and transfer risk for numerous clients over the years, has in a minor way, helped the brilliant scientists in this sector ultimately deliver their discoveries to market. So, in some ways, the apple has not fallen that far from the tree and I have made a modest contribution of sorts, to the medical profession.

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