10 Mins With… Ernesto Suarez
Q. What’s your most memorable career achievement?
A. Creating innovative insurance products that truly benefit consumers has been one of the most rewarding aspects of my career. Insurance should always be designed with the end user in mind. Historically, the industry has been slow to adapt to changing consumer needs, but advancements in technology and better data insights are driving meaningful change.
A pivotal moment for me was launching Halo in 2009 – bringing an insurance product to market that challenged the status quo was something I’m incredibly proud of. We took the same bold approach last summer with the launch of Gigasure. Our goal is to transform insurance from something you buy and forget about to something that creates a more engaging experience. We’re redefining insurance at Gigasure, and want to offer customers something that travels with them. Just as companies like Nutmeg and Revolut have revolutionised banking, we want to do the same for insurance.
Q. What has been the most valuable piece of advice you’ve received?
A. Early on in my career, I was told the best investment you can make is in your team. If you want to develop innovative market-leading products, building a smart, talented, diverse and creative team is the best way to do it! So, we spent a lot of time finding the right people when we launched Gigasure, and it’s the best investment we could’ve made. From tech to marketing, getting the right team in place was critical. We weren’t just looking for skills; we sought out passion, drive, and a shared vision for doing things better. It’s this collective ambition that will take us where we want to go!
Q. What has been the key positive and/or negative impact of change in your area of the market?
A. Technology is, without a doubt, the biggest and most transformative force in the insurance industry. Historically, insurers have been slow to embrace technological advancements—perhaps because insurance has always been a necessity, reducing the urgency for innovation. But today, technology allows us to streamline the entire experience, making insurance easier to navigate and far more personalised through the power of data.
With more choices than ever, customers expect more from their insurers. Therefore, we have to constantly look for ways to make our policies appealing. With Gigasure, we’re doing this through our ‘surprise and delight’ benefits. We invested time and resource into developing our app, which offers customers game-changing benefits they won’t find elsewhere. For example, through GigaShield (and in a first for UK insurance), we offer real-time parametric flight and luggage delay benefits, meaning customers who have registered their details get instant payouts in the event of a delay.
Customisable policies mean that customers can tailor a policy that works for them, not the other way around. They only pay for what they need, when they need it, which also gives greater value for money. Our backpacker insurance comes with search and rescue cover in case of emergency, along with the option to return to base while travelling. At Gigasure, we’re not just providing insurance — we’re creating policies that truly benefit our customers.
Q. If you were not in your current position, what would you like to be doing, and why?
A. I can’t imagine doing anything other than insurance. I’m passionate about creating insurance products that put the customer at the forefront, and I’ve been fortunate to do just that in various ways throughout my career. This is an area of insurance that’s only just getting started, and I’m excited about the possibilities for the future.
At Gigasure, we’ve embraced the power of parametrics to offer customers more. We can use AI to measure risk differently, for example, such as storm and extreme weather tracking. In the future, we’ll also be using biometrics to complete ID checks and reduce fraudulent claims while streamlining the experience for customers. With so much innovation at our fingertips, the insurance sector is moving forwards quickly, and I’m excited to be part of it.
Q. What three items would you put on display in a museum of your life, and why?
A. My running shoes! I’m currently training for the Sydney Marathon, which will be the seventh major marathon I’ve completed. Travel photobooks would also have to be a part of it – I’m passionate about exploring the world and have been fortunate enough to visit some incredible places. Lastly, of course, my LEGO Car collection would have a special place in the museum!
Q. What three guests would you invite to a dinner party?
A. My family. It’ll come as no surprise that travelling is a big passion of mine, and being able to enjoy new experiences with my children gives me the greatest joy. We’ll be sat together planning our next adventure at the dinner party! As my children get older, they want to do more adventurous, adrenalin-seeking holidays, which I’m really enjoying! I also love experiencing new cultures. There’s a whole world to explore out there and I’m here for it – with the right insurance, of course!
