Chloe Pullan, broker manager at Sovereign Insurance Services in Gibraltar speaks to Health & Protection about her career in international private medical insurance, making the shift from the UK to the Rock, her plans for a low-key marriage and her thoughts on girls who ‘Run the World’.
How long have you been in the international health and benefits advice industry and why did you start working in it?
I have been in the international market for two years working as a broker, transitioning from five years spent in the UK domestic market working directly for a leading insurer.
The change came following a move abroad to start a new life in Gibraltar and not wanting to leave my passion of advising on private medical insurance behind.
How long have you been with your present firm and which markets does your company do business in?
I’ve been with Sovereign for two years having joined the company as soon as I moved to Gibraltar and have loved every second of it.
We have a team who each have their own speciality within insurance ranging from marine, commercial property, corporate liabilities, private medical insurance and portfolios of high-net-worth individual’s assets.
We have licenses to trade directly in the UK, Gibraltar and the EU but often use partner brokers should we need to assist a client with a risk outside of this scope, usually in the UAE.
What is the biggest factor affecting the international health and benefits space for you and your firm?
High claims spend in UAE, Singapore and Hong Kong is pushing premiums up for large experience-rated groups covering employees across these jurisdictions as well as in the UK and EU, proving for difficult renewals as UK and EU offices have not spent as much as their colleagues and feel penalised.
Advancements in technology with particular providers is acting as a trump card, clients are being wowed by this aspect and it can be rather difficult to then drill into the benefits and servicing offered by other providers in the market.
Broker vs broker competition feels hotter now more than ever. I always make sure to operate with integrity, in the client’s best interests and presenting a balanced view – this usually helps me seal the deal rather than just chasing the most competitive premium. Clients value your honesty and advice.
Who has been your most important mentor throughout your career?
I haven’t had a mentor as such, however, the constant support from my partner throughout my career has been phenomenal.
I’m always reminded to believe in myself, to go for every opportunity available while ignoring the voice of imposter syndrome and am encouraged to take risks without fear.
He has been an amazing sounding board over the years for worries within whatever role I was in and has great tips for salary negotiations.
Within the insurance industry, I look up to Lorraine Povedano, underwriting manager for Chubb. Lorraine has offered amazing support to myself and various members of my team with reviewing complex risks on numerous occasions; her knowledge, experience and patience are incredible.
Lorraine is also a founding member of the Women In Insurance Network (WIN) in Gibraltar.
The network has arranged various functions such as ladies golf training, careers workshops, regular coffee mornings, all with the intention to connect, empower and develop the female workforce in insurance.
What advice would you give people thinking about working in the international health and benefits sector?
As a broker new to the international market, the way I built my knowledge of the sector was by connecting with the providers directly; reach out to introduce yourself and ask for training sessions, they will be happy to assist as this will help you in recommending their products to your clients.
Look out for a mentor – this could be someone within your organisation, or you could join the Chartered Insurance Institute (CII) mentorship programme via your local institute.
Here in Gibraltar, we have our local Women in Insurance Network (WIN) which runs a mentor scheme, helping you to navigate your insurance career and achieve personal goals.
Always ask for feedback. Whether it is from your colleagues who sit in on client meetings or presentations with you to give comments on how you handled an objection, or it’s from the client directly as to why they chose to move forward with one of your competitors – find out why so you can address this head on with your next opportunity.
Treat everything as a chance to learn.
What has been your greatest success at work?
I would say the thing I’m most proud of is being a manager for my team in the way I wished someone would show up as a manager for me in past roles.
As a team we talk openly about our worries and our times of low confidence, we build each other up in these moments and remind one another of previous successes.
When one of us has a win, we all celebrate together.
I try to lead and coach rather than manage and I think it has created such a healthy environment where the team are truly thriving and doing amazingly with their professional and personal goals.
What are your top three priorities for the next year?
Try to achieve a better work-life balance as I often prioritise work over everything else
Finish the Diploma in Insurance; I’m halfway through, having completed two out of four units. I am working on my third now so feel this is achievable for the end of 2025.
On a personal note, get married. My partner and I have our wedding booked for late 2025 and have chosen to keep it low-key in Gibraltar and will spend a week in Spain with our dog for our honeymoon.
What is one personal skill that most people do not know about?
I think I’m really good at making people think I’m confident, when in actual fact I am really shy and quite an anxious person.
What mantra do you live by?
In our office we always say ‘We can, and we will’ when we’re looking at team goals and use this saying to cheer each other on; it sets the scene perfectly for a positive outlook and determination.
If you could work in any location in the world, what would it be?
I love Gibraltar and can’t see myself leaving anytime soon, however, I would love to work in Cyprus.
While the climate, culture and beautiful landscape are obvious pluses, Cyprus is a huge hub for international businesses and I would enjoy being in the midst of that.
What song would you regard as your theme tune?
This is a tough one. I asked the team in my office, and they all suggested different pop songs by female artists that were all very empowering, so I guess something considered a feminist anthem like Run the World by Beyonce.
