News
Richard Milner on strategy, underwriting and the future of insurance
In a recent episode of the Voice of Insurance podcast, Richard Milner, CEO of Chaucer, sat down with host Mark Geoghegan to discuss Chaucer’s long‑term strategy, the evolving role of underwriting expertise, and how the business is positioning itself for the years ahead.
During the conversation, Richard reflected on Chaucer’s heritage as an underwriting‑led business with more than a century in the Lloyd’s market, while also highlighting how the organisation has continued to evolve through diversified platforms, a growing international footprint and a clear strategic focus beyond short‑term market cycles.
A key theme of the discussion was Chaucer’s use of structured five‑year planning. Rather than focusing purely on premium growth targets, Richard explained how this approach allows the leadership team to think more deeply about what Chaucer should look like in the future; including its expertise, culture, infrastructure and relevance to brokers and clients.
Richard also spoke about the importance of underwriting discipline and data‑led decision‑making, particularly as market conditions become more competitive. He emphasised Chaucer’s focus on underwriting areas where it has genuine expertise, supported by strong claims capability, robust MI and experienced leadership.
The conversation explored Chaucer’s global ambitions, including the role of local presence and distribution in key international markets. Richard highlighted how deploying expertise closer to clients, while maintaining consistent underwriting standards, is central to Chaucer’s long‑term growth strategy.
Emerging risks and innovation also featured, with discussion around AI‑related liabilities, delegated underwriting models and algorithmic underwriting. Richard outlined Chaucer’s pragmatic approach: engaging early where it adds value, partnering with specialist expertise, and ensuring underwriting principles remain firmly at the core.
Finally, Richard returned to the theme of people and culture, noting that investment in graduates, apprentices and ongoing talent development is critical to sustaining performance and adaptability in a changing market.
Listen to the full episode of the Voice of Insurance podcast featuring Richard here:
