With big growth ambitions and a focus on some of the most exciting global trends for international expansion, Sedgwick remains committed to growing its core market as well as diversification through strategic acquisition.
This was one of the main points from an exclusive interview with Ian Muress, Sedgwick chief executive officer, international, of Sedgwick. The interview took place on Intelligent Insurer’s Re/insurance Lounge, an online platform where interviews and panel discussions are available on demand.
“Sedgwick has always been focused on a growth agenda, and the pandemic changes nothing,” said Muress. “In fact, our strategic leadership as well as our acquisitions have positioned Sedgwick in such a way that it has put us in an extraordinarily robust position over the past year and helped us to better navigate the global upheaval,” he said.
Over the past 12 months, Sedgwick has embarked on a focused acquisition strategy, one that has enabled the business to diversify its portfolio significantly.
In October 2020, the firm expanded its presence in the Iberian peninsula with the acquisition of Portugal-based loss adjusting and claims management company Perigest; in the month before the firm launched a new third-party administration service centre in Kuala Lumpur, Malaysia, following a recent digital platform implementation in Singapore.
“A great deal of opportunity has arisen as a result of our acquisitions.”
Ian Muress, Sedgwick
New ways of thinking
The company has been very busy in the first months of 2021 alone, confirming a senior reshuffle in China and new hires in France, Singapore, and the UK among many other announcements.
“We have been proud to welcome many successful companies to Sedgwick, which has further enhanced our position as a global industry leader,” said Muress.
“The way the world is turning, it is a fascinating time to be in business and a great deal of opportunity has arisen as a result of our acquisitions as well as our leadership changes,” he said.
Sedgwick’s changes to the executive management team for its operations in Singapore and China are aimed at strengthening its presence in Asia and optimising strategic positioning. The company believes the new structure will position it to deliver on its growth promise for a robust 2021.
Further senior leadership team changes in Europe are designed to support its UK operations and international growth strategy, Muress said.
“I am confident that our new leadership teams will lead us to even greater success in Asia as well as other parts of the globe as Sedgwick’s leaders continue to spearhead new initiatives,” he said.
Muress explained that the COVID-19 pandemic has presented its challenges and obstacles but also presented opportunity.
“COVID-19 has made us ask the same questions as the rest of the world, but it has also made us seek out new opportunities. We have changed operating models and adapted our way of doing business, but we are a portfolio of business with unique prospects,” he said.
“We look forward to a time when we no longer rely on remote working conditions, when individuals can meet, and have open dialogue. This will help accelerate new ways of thinking and planning for future growth.”
He added that Sedgwick intends to continue on its global growth journey and stressed that there are still some very enticing opportunities in other global markets. The firm’s leadership reshuffle in Asia came at the right time to support some of the organisation's biggest developments, which are at a crucial stage.
“Our ambition is to continue on this path and Asia is a very important part of our business, so expect to see more,” he concluded.
To view the full Re/insurance Lounge session click here
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