Falvey’s Katie Booth and Jennifer Armstrong were selected to attend 2025 Llyod’s Broker Academy in London from October 12-17. This 5-day program is invite only, giving participants a behind-the-scenes look at how the Lloyd’s marketplace operates, combining classroom sessions, market tours, real-world underwriting insights, and discussions with London market leaders.
In this interview, Katie and Jenn share some highlights and key takeaways from their experience at the academy.
Q: How did it feel to be selected for the Lloyd’s Broker Academy?
Katie: “Being selected for the Lloyds Broker Academy was an honor and a significant milestone in my professional journey. I am so grateful for the encouragement and guidance from our leadership team and my mentors, whose support has made this achievement possible. The recognition was both validating and motivating. This opportunity provided firsthand insight into the Lloyds market, strengthening my underwriting perspective, and inspiring me to continue growing within the insurance industry.”
Jenn: “Honored. Being recognized by Falvey for this opportunity was amazing and one I never thought I would be provided.”
Q: What were the most valuable takeaways from your experience?
Katie: “The most valuable takeaways include developing a clearer understanding of how the Lloyds market operates, improving my ability to present and evaluate risks, and recognizing the critical role of broker–underwriter relationships. These insights gave me a sharper perspective on how quality submissions and effective communication can directly impact outcomes in the market.”
Jenn: “The understanding of Lloyd’s as a whole. It’s not just an insurance market but the expertise in underwriting the risks, claims handling, and even proactively creating products through the Lloyd’s Lab to assist insurers with risk understanding and mitigation. Also, meeting the industry leaders at Lloyd’s and the group of individuals who joined the academy with us.”
Q: What part of your experience would you consider to be the most unexpected or eye-opening?
Katie: “The most unexpected part of my experience was realizing how actively brokers seek and value underwriting insight. I expected the interactions to be more transactional but instead found a high level of openness and engagement around risk assessment discussions. This experience reinforced the significance of underwriting input in the overall placement process, highlighting its impact on collaboration.”
Jenn: “I didn’t know the Lloyd’s Lab existed, but they’re creating innovative products to better understand and mitigate risk. Also, the different types of insurance written, I went in thinking it was mainly cargo risks but came out understanding different specialty markets and insurance products I’d never been introduced to.”
Q: What skills or industry insights from the academy have impacted your day-to-day work at Falvey?
Katie: “Participation in the academy has improved my ability to assess and communicate risk. This has helped me to make more informed underwriting decisions and collaborate more effectively within my team and with our broker partners.”
Jenn: “The importance of a full submission to brokers in London. The broker only gets about 10 minutes with the underwriter and being able to provide the full account at one time makes a huge impact on the negotiations and time it takes to turn a quote around.”
Q: What advice would you give to insurance professionals hoping to attend the academy in the future?
Katie: “Stay curious, ask thoughtful questions, and focus on learning from everyone around you. Building strong professional relationships is just as critical as developing technical expertise.”
Jenn: “Be ready to learn; it’s a lot of information in a short period of time but led by some of the industry’s top leaders. Also, the networking is important, and the in-person aspect of Lloyd’s sets up the market apart from how we write about insurance in the US.”
Falvey Insurance Group is committed to professional development and empowering our employees to grow and excel in their roles. By investing in opportunities that expand industry knowledge and foster meaningful relationships, Falvey ensures its team is prepared to navigate the complexities of the global insurance market. This dedication to continuous learning emphasizes Falvey’s long-term vision of nurturing talent and helping shape the future of the industry.
