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Spencer Stots and his team are responsible for the prices and conditions governing Reaal and Zwitserleven insurance products. He also represents Risk on the Life Corporate MT.

Spencer’s team, most of whom are actuaries, draw up conditions for new products, set prices and compile profit and loss analyses. Now that the recent reorganisations are behind us, VIVAT is growing once more and there’s a large measure of optimism throughout the company. The client is now at the heart of all our activities, and this requires a good balance. “We have an organisation that’s very keen to say ‘yes’ to everything,” Spencer Stots says with pride. “Obviously we’d like to give everyone bigger discounts or even better terms and conditions, but we also need to generate an income. Which is why discounts aren’t always the best option for the customer in the long run. But always saying ‘no’ isn't good either, since then you’d be left with no customers. So the challenge lies in giving the client what he wants while ensuring an acceptable profit margin for VIVAT.”

If you’re willing to seize the work that’s there, you’ll be given the chance to shape your own role.

Flexible and rapid response
The insurance sector is traditionally seen as being slow to implement changes, but that’s now changing. At any rate, it is at VIVAT. “Changes are taking place in many different areas, from the introduction of new products to price adjustments and the way prices are calculated. If you’re able and willing to respond quickly and flexibly, this will give us real opportunities.”
Spencer Stots’ portfolio includes a tiny pension fund in Curaçao (the ESC pension fund) which pays out pensions to people who were employed at Shell prior to 1995. “It’s a very special fund which is managed by five staff who do a lot of customised work and give policyholders a high level of support.”

Shaping your own role
Spencer’s role is so specific that he doubts it exists anywhere else in exactly this form. “That’s because of the way I shape my own responsibilities. Most people in my role operate at some distance from the business, whereas I’m right in the middle of the development process. The same applies to everyone at VIVAT: if you’re willing to seize the work that’s there, you’ll be given the chance to shape your own role.”

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