Practical Innovation

Practical-Innovation-Text

Noun – an empowered approach to collaboration that naturally delivers innovation

Our difference

For us, ‘innovation’ is not a buzzword for new digital products or automated solutions. Innovation, at its heart, means improving and progressing products and services. Unlike other carriers, we do not create complex solutions before understanding the problem. Canopius thrives on coming together with our clients, listening intently, questioning honestly and talking plainly to find practical innovations that simply make sense.

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We believe in ‘collaborative co-creation’ with our clients – this is reflected in the feedback we receive; our clients appreciate us as we’re available, interested, and attentive.

“We believe with smart actions we can find tangible, real-world solutions together.”

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At Canopius we attract genuine problem-solvers, but these out-of-the-box thinkers begin with basic fundementals. We want to hear you, to know your point of view and the hurdles you may face.

“We dont have solutions looking for problems; we listen to your problems to find solutions.”

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By asking the right questions we gain a deeper understanding and we begin to analyse the situation. Our risk-modelling and analytical insights teams are highly rated and respected in their craft.

“Managing complex risk often requires individual interaction and thoughtful dialogue.”

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Creating practical innovations by working together reflects the positive and winning culture we foster at Canopius. We encourage our colleagues to collaborate, and we empower everyone to be proactive, ambitious but also accountable for their work.

“When our smart underwriting and claims expertise is fused with this spirit, the possibilities are limitless.”

Outside-in scanning scores risk vulnerability against real businesses; however, they varied between providers. We co-collaborated with leading providers and conducted the market’s largest-ever data study across more than 42,000 risks.

Working together with providers allowed us to pull together the largest study with our own claims data, giving a true score, standardising a pricing model, and supplying clients a quantifiable understanding of the cyber risks they face.

True risk modelling and fair pricing just makes sense; it’s a practical solution for our clients.

Setting a new standard
for cyber-risk modelling.

What is more practical than asking our talent what is the best way to improve their team’s products, services and processes?

We begin every year asking our people what changes they would like to make that will help them work smarter and achieve better outcomes. These are funnelled into initiatives, where you are backed and supported by Canopius as a CEO of your idea.

This has led to new teams, digital product lines, back-end systems and new ways of working. If you have an idea, just chat to our Senior Leadership Teams – creating another practical solution.

Canopius’ bottom-up planning.

Solar energy panels have either been on a consumer residential basis or underwritten as solar farms.

With growing desire for alternative energy sources, this smaller tier could not secure a Lloyd’s London Market capacity backing. The solution - bringing all the libraries, schools, businesses and malls together as one community, giving them a larger company insurance solution.

Co-collaborating with an insurance broker, we were able to underwrite Community Solar, a practical solution to finance a growing energy demand.

An SME solution, with a large
corporation capacity.

In the 17th and 18th centuries, English coffeehouses were public and social places where people would meet for conversation and commerce.

During the Enlightenment in Europe and Asia, coffee became a new way to engage with people. It stimulated conversation, debate and collaboration. Likeminded people would find time to meet, listen and share ideas. A simple, hot beverage became one of the most powerful catalysts for innovation in the early modern world.

Edward Lloyd’s coffeehouse by the river Thames was one such venue for this coffee-fuelled collaboration, becoming the British centre of marine intelligence. By the 18th century, it is where merchants and financiers met, and agreed financial protections for their vessels and cargo. Mr. Lloyd’s coffeehouse became the heart of the early maritime finance industry and it’s where modern insurance was born.

Coffee is not just central to our industry’s innovation - it’s in our name.

Nathaniel Canopius is reputed to have brewed the first cup of coffee in England in 1637, inspiring the coffeehouse revolution.

More than 350 years on, we still meet over coffee to listen, solve problems and share ideas across a table.

We’re proud that our industry and our name reflects a centuries-old catalyst for practical innovation that remains to this day.

A History of Coming Together
Over Coffee

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Practical Innovation

Noun – an empowered approach to collaboration that naturally delivers innovation

Our difference

Further Exploration