CFC taps Beazley for new innovation head

Specialist insurer  CFC has tapped a senior executive from  Beazley to take a lead on innovation in the business.

George Beattie (Pictured), appointed as head of innovation starting in January 2023, joins from Beazley where he has led the incubation underwriting function for the past two years. He remains in his role as co-chair of the Product Launchpad at Lloyd’s.

In this newly created role and leveraging CFC’s cutting-edge technology and data science, George will lead a team focused on delivering industry first solutions and next generation insurance products designed for the emerging risks of tomorrow.

“Our business has earned a reputation for innovation and our team has a demonstrable track record of constantly challenging the status quo in our core lines of business. However, as a specialist in emerging risk, we need to consider the role of breakthrough, disruptive innovation within our strategy,” said Graeme Newman, CEO of CFC.

“George shares our passion for looking ahead, identifying the risks of the future that the industry has yet to tackle, and then developing a solution. I can’t think of a better person to lead our new team and am excited to see what innovations they bring to market over the coming years.”

Beattie said: “CFC has a brilliant reputation for innovation and it’s hugely exciting to be joining a growth business with such an exciting, dynamic story. Breakthrough innovation means we will be pursuing new opportunities and delivering solutions that the market hasn’t seen before through confident but pragmatic experimentation. This is about closing the protection gap and delighting customers by working in a way that is unencumbered by traditional barriers to innovation: industry product silos, fear of the unknown and addiction to the comfort provided by the status quo.

“The world is changing fast and the insurance industry is struggling to keep up. CFC is going to lead the industry in developing novel solutions for emerging and ‘old’ risks, leveraging talent, technology, data and market insight in new and exciting ways.”

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