Nick Ioannou

a sparkling career

Sevenoaks-based Nick is an insurance broker for Special Risks Group, focussing on the jewellery industry. He joined the market in 2019 when his skills at managing customers and welcoming new clients were spotted by an insurance broking firm. “It’s all about assessing the risks,” he explains. “My job is to understand our clients’ needs and get the best insurance package for them.”

While some in the jewellery industry might look at insurance as a ‘necessary evil’, many retailers and manufacturers really understand its value. As providers of expensive luxury goods, they can be a prime target for criminals as well as being exposed to all the other threats like fire and flooding faced by most businesses. And, when an incident occurs leading to a claim and which is then settled sympathetically and quickly, the true value of their insurance is always greatly appreciated.

Nick’s clients could be anywhere in the UK and Ireland, although a large contingent is based in London’s famous jewellery district, Hatton Garden. As part of his role, Nick will visit many of their premises to provide advice on how they can reduce the risks to which they are exposed. He also reviews and discusses their security systems, and which is sometimes backed up with an insurer’s surveyor.

As well as traditional theft, cyber security solutions are also high on Nick’s agenda, with a growing new threat of cyber criminals and how they are increasingly sophisticated and can cause considerable damage through selective types of malware.

“I also get involved with the marketing of our insurance policies. I talk to our marketing department about putting adverts into jewellery magazines and any amendments to our website” Nick says.

“Every day is different. I start around 8am, working on urgent emails and any client requirements. Next, I’ll discuss with underwriters’ various pieces of business I’ve been working on. After that, I may head to London on a client visit before sending out invitations to clients to renew their policies.”