Catching up with the Chair: Ann Beynon interview
Two years into her tenure as Chair of FUW Insurance Services Ltd Board, Ann Beynon OBE, who previously served on the Board, recently sat down with our Head of Communications, Aled Morgan Hughes to discuss a busy and impactful period at the helm.
You served on the FUW Insurance Services Ltd Board for several years before becoming Chair. How has the role changed in your two years since becoming Chair?
I had served on the FUW Insurance Services Board for 6 years before taking over from Tom Jones, who had been a very solid and professional chair. I approached my role less as a traditional chairperson and more as an orchestra leader – with my main focus on amplifying the existing strengths by ensuring we effectively harnessed the diverse talents around the table. A key aspect of this involved a thorough assessment of our board members to identify any potential gaps in expertise or perspective. By proactively addressing these areas, we’ve managed to build a cohesive team of dedicated individuals, all aligned on our purpose and strategic intent.
Establishing a clear governance structure was also key. While a compelling vision is crucial, robust board processes are equally vital in ensuring everyone operates in concert. This clarity allowed the executive team to function effectively. Early on, we recognised that we needed to increase the number of Directors, and the subsequent addition of Karen Royles as a Director has significantly strengthened our operational capacity.
To gain deeper insights and foster continuous improvement, I initiated individual conversations with board members through an efficiency survey. This proved invaluable, highlighting the critical importance of company culture. This feedback directly informed the introduction of our first staff survey and the establishment of a staff committee, spearheaded by Non-Executive Board member, Emily Morton, supported by Marie Morgan, to actively cultivate a positive and productive environment. My aim throughout has been to ensure both strong leadership and collaborative teamwork drive the company forward, much like an orchestra performing in perfect harmony.
What have been your main highlights since becoming Chair of FUW Insurance Services?
It’s hard to think of one individual success, however, navigating the challenges and opportunities emerging from the COVID-19 pandemic was a particular highlight. Our successful transition to remote working, facilitated by robust technology, demonstrated the company’s internal agility and responsiveness. Emerging strongly from that period has been key.
Operating within the complex and highly regulated insurance industry, a strong regulatory team is paramount to achieving our goals. It’s been heartening to see our robust compliance functions develop from strength to strength. Building this level of robustness has at times been a challenge, particularly as a smaller company, but its development has been crucial for our growth.
Furthermore, strategic internal appointments have strengthened our business, allowing us to not only evaluate our current position but also proactively support future development. Internally, our operations are now more efficient and rigorously managed. However, we can’t rest on our laurels; we maintain a mindset of continuous improvement. While absolute perfection may be unattainable, our focus remains on constant rigour and striving for betterment in all aspects of our work.
You have had a very successful career, with a number of different responsibilities – from BT to S4C to the Equality and Human Rights Commission to name a few. How does FUW Insurance Services fit in with these, and has it helped you since becoming Chair?
My experience with the high level of governance at Severn Trent Water (I was a Non-Executive Director on its Welsh business Hafren Dyfrdwy from its inception) was particularly insightful and has significantly shaped my approach and taught me a lot about governance at a FTSE 100 company level. I thrive in a dynamic business environment, where constant vigilance to internal and external factors is essential for a company’s resilience. The ability to navigate challenges, as exemplified by BT’s response to the 2008 financial crisis and the necessary restructuring, was also an important learning experience.
Similarly, my experience at the Equality and Human Rights Commission (EHRC) reinforced the importance of confronting problems directly. The EHRC had significant financial and political challenges when I joined it in 1999. I view crises not merely as threats but as opportunities for meaningful change – in the words of a well-known adage, ‘a recession is too good to waste’. My approach to any crisis is always to be direct and transparent. In the FUW Insurance Services’ context, I value a challenging environment populated by individuals who are also willing to be challenged in return.
What are the main factors behind FUW Insurance Services’ recent growth?
A core factor has been the focus on establishing robust governance frameworks and ensuring effective operational processes – essentially, building a high-performing management team that functions like a well-oiled machine. The success of this approach is evident in the company’s growing income. Looking ahead, it’s crucial that we more actively communicate the achievements of FUW Insurance Services. We need to be more vocal about our successes, and our contribution to both the economy of Wales and the Welsh language.
What are the main challenges facing businesses like FUW Insurance Services?
The current uncertainty facing the agriculture sector presents a clear and ongoing challenge. New compliance regulations present some challenges – although FUW Insurance Services has responded to those very efficiently. While operating in a relatively niche market with fewer competitors than some, the existing competition demands constant vigilance. A key focus is exploring avenues for business growth in the commercial market surrounding the core agriculture business, as well as understanding external UK and global market pressures on our industry. Both present significant opportunities and considerable challenges.
The Farmers’ Union of Wales (UAC CYF.FUW. LTD) celebrates 70 years since its establishment this year. How do you see the relationship between the FUW and FUW Insurance Services?
The relationship with the FUW has matured into an essential partnership. Ian Rickman, now FUW’s President, sat on the FUW Insurance Board when he was Deputy President. This has given him, and the FUW Board, a deeper understanding of the complexity and variety of our operations.
FUW Insurance Services’ success directly benefits the Farmers’ Union of Wales. It’s crucial that we continue to grow from strength to strength as any stagnation would negatively impact the FUW’s role as the independent voice for Wales’ family farms.
Beyond financial success, FUW Insurance Services plays a vital role in employing a significant number of individuals across rural Wales, treating our staff with respect and contributing meaningfully to the local economy. Our commitment to providing a personal service, through our Account Executives and Handlers, distinct from automated call centres, is a key differentiator. Ensuring our services are readily available in Welsh is vital, reflecting our respect for the Welsh language and our deep roots within the community. Our visible presence at local shows underscores our commitment to being an accessible and culturally integrated part of the community we serve.
We’ve seen a number of females in prominent roles within FUW Insurance Services over recent years, how important is this to you?
Throughout my career, I’ve often found myself the only woman around the table. Women often bring distinct and valuable approaches to teamwork and problem-solving, but tend not to claim their accomplishments as they should. The ongoing reality of primary childcare and elderly care responsibilities can also significantly impact career trajectories. It’s therefore crucial that we acknowledge these dynamics and foster a supportive and flexible environment.
When I started with FUW Insurance Services, I was the only woman on the Board. Encouragingly, the gender balance on our Board has significantly improved, and we now have four women providing a valuable contribution.
There’s absolutely nothing wrong with ambition and competitiveness. Talented women need to know that in order to break through the barriers they will inevitably face. Over the years, I’ve actively encouraged women to be bold in pursuing their goals, emphasising the importance of networking – an aspect closely linked to our culture project. Recognising and nurturing talent is paramount; the more talent we cultivate within FUW Insurance Services, the greater our collective success. While the UK sometimes frames equality and diversity as a matter of fairness, in other cultures, like in the USA corporate sector, it is part of the talent agenda. To ensure economic prosperity nurturing ALL talent is essential.
How do you see FUW Insurance Services developing over the coming years?
Building on our current trajectory, intelligent growth is vital. This requires a deep understanding of the market, underpinned by a continuous process of improvement and a deliberate, strategic approach. Our growth strategy emphasizes a “slow but steady” approach, balanced with the agility to act swiftly when opportunities arise. We need to cultivate both measured progress and the capacity for rapid execution, ensuring our operational framework is poised to capitalise on sudden market shifts with pace and urgency.
FUW Insurance Services is a trading styles of FUW Insurance Services Ltd who are authorised and regulated by the Financial Conduct Authority, Firm Reference Number (FRN) 615251. Registered firm and address : FUW Insurance Services Limited, Llys Amaeth, Plas Gogerddan, Penrhyncoch, Aberystwyth, Dyfed, SY23 3BT. Registered in England & Wales 07981993.