Secure Cash & Transport Association |Member Spotlight: Ascot

MEMBER SPOTLIGHT

GARY TREDGETT
Executive Underwriter
Ascot: Specie and Fine Art

We are proud to feature the first in our monthly member spotlight series. The series will spotlight SCTA members and their contributions to the cash industry. To kick things off, we interviewed Gary Tredgett, Executive Underwriter for Ascot's Specie and Fine Art division.

Q: What are the biggest challenges you expect the cash industry to face in the next 1-3 years?

A: I will be very interested to see what the future holds for the CIT industry over the next few years. Mergers and acquisitions have featured highly in recent times and I expect this trend to continue. Disappointingly, there have been a continuation of claims activity within the industry and certain countries have experienced significant loss levels. Brazil is a good example and with their election coming up this year, unfortunately this trend looks likely to continue. From an insurance perspective, the environment is changing and it's inevitable that certain insurance carriers will look to recalibrate their portfolio and shift terms, conditions and pricing levels.

Q: What’s the top change you expect in the future of the cash industry?

A: Cash solutions and technological advances within the industry will play a major part in the future. The demand for physical cash logistics remains high and I do not believe that we will see a dramatic shift in this model in the majority of cases. There are however countries that have embraced different financial models and there is a growing space towards electronic payments along with online and contactless transactions. We have seen this to be the case in certain European countries such as in the UK, Sweden and France. As a collective, we need to embrace the challenges we will see within the industry and take a proactive stance for clients and customers alike.

Q: Why did you join the SCTA?

A: From a conference perspective, the CIT industry was looking for a refresh and a new angle. We joined the SCTA to contribute to bringing in new, innovative ideas that only come from widening your niche and collaborating with experts with different specialties than your own.

Learn more about Ascot here.

Ascot is a Lloyd’s of London syndicate and a leading global specialty insurance underwriter. With a reputation for excellence we offer our clients the expertise and security of a large insurer while maintaining a personal approach to their risks, delivering solutions where others fall short.

Interested in having your business featured in our monthly spotlight? Contact Michael Gaul mgaul@securetransportassociation.org