Peter Horncastle, NuVenture’s Director of Finance and Compliance has ambitions to create a ‘win-win-win’ situation for insureds, capital providers, and founding underwriting teams.
What’s your background?
After university in 2000 I worked at Logica an IT company and Britvic before I moved into insurance with Hiscox in 2005, qualifying as an accountant in 2008. Spending seven years at Hiscox was a great experience, but I moved to Argenta in 2012 which focused on Lloyd’s capital side.
I then moved to a small MGA start-up-incubator – Precision Partnership – where I got a taste for SME sized businesses, while my most recent role was Finance Director for a Lloyd’s wholesale broker. So, I have a wide and unique knowledge of the insurance market.
Why a career in insurance?
Insurance is a fascinating business model as it deals with trying to price the future. It affects all of us and every news item has an insurance angle, so you get to learn about many industries which is great when you are naturally curious like me. I also think the work life balance in insurance is excellent.
What challenges do you see in the role?
The role at NuVenture is very exciting. We have a great package with our technology and data to create something special. This comes with some ambitious growth targets, so ensuring sustainable growth that sticks to our core principles will be something I need to monitor closely. Building things from scratch is also hard work, but fun and rewarding once they start proving themselves.
What do you hope to have achieved at NuVenture a year from now?
I want to see a win-win-win situation! By that I hope insureds win with great products, our capital partners win with access to efficient distribution while meeting their risk return requirements, and I want our founding underwriting teams to win from the processes, technology and MI that we build for them.
How do you relax away from the office?
I have two rescue dogs from the Mediterranean so get plenty of fresh air and steps in each day walking them. I occasionally ride motorbikes and make an annual trip to Isle of Man TT.
What was the last box set you watched?
I am currently watching the Start-up with Martin Freeman. There aren’t many feasible ideas for this role that I can use but it’s fun.
If someone was to play you in a film, who would you choose?
Based on my choice of haircut I would like to think Jason Statham or Bruce Willis. However, depending on budget, I might have to bring Phil Collins out from acting retirement based on his Buster stardom.