In a boardroom where time is tight and curveballs are constant, standing out takes more than expertise. TIA Talks Season 2, Episode 6 delves into this very truth, exploring how even seasoned professionals can falter under pressure – and how the often-overlooked Underwriting Management Agencies (UMAs) play a critical role in the insurance ecosystem.
This week, host Jason Mizen is joined by Steve von Roretz, Executive Committee Member at SAUMA, and Chiara Ghirdari, the fourth contestant to leave the TIA2025 competition. Together, they unpack a particularly technical episode that left even the experts scratching their heads.
At the centre of the discussion is the UMA model – what it is, where it fits, and why it matters. As Steve explains: “A UMA is high-skilled, technical, agile… It is trusted by the insurer. The insurer has the license and the capital. The broker is the intermediary. The UMA is like the advocate – the specialist you bring in when it’s time to win the case.”
In simpler terms? While brokers are the front-facing advisers to clients, UMAs bring the technical firepower that most standard insurers or brokers don’t offer on their own. They’re the “top of the pops when it comes to specialist solutions,” as Steve puts it.
The task: not just a brief, but a minefield
This episode’s task was no walk in the park. With a complex development project brief, tight deadlines, and budget cuts, contestants had to identify appropriate insurance solutions – without missing the critical details.
“Even those who are experts in this struggled with it,” Chiara reflects. “Things that seem obvious now, under pressure, become blurry. And two hours? It’s almost impossible to get through everything.”
Steve agrees. He highlights how close some teams came to solving it – but missed key elements by inches. One such example was a Single Project Professional Indemnity (SPPI) policy, which could have simplified claims and avoided litigation: “The SPPI covers all the professionals on a project. It fixes design errors before the project ends – that’s critical. Without it, you’re relying on separate PI policies, and that means triggering claims, defending them, and potentially litigation. That’s not agile – that’s reactive.”
Beyond the obvious: what was missed
From contract works insurance, delay cover, community engagement strategies, to performance guarantees, Steve outlines the full spectrum of what the task should have considered. While some contestants mentioned these areas, none tied them together into a coherent solution – a costly oversight in both the show and real-world scenarios.
“There was a touch on the community, but that was just one part. You have to think of the financier, the contract conditions, and the risk transfer after development. It’s layered,” Steve adds.
The biggest takeaway of Episode 6
The episode ends with a heartfelt acknowledgement from Jason about the real value UMAs bring to the industry: “I just want to say thank you to all the UMAs out there. You give me options. Without you, I couldn’t offer the right solutions to my clients.”
That, perhaps, is the biggest takeaway of Episode 6 – in a world where standard policies don’t fit every risk, specialists matter, and the UMA model is crucial in filling that gap.
Watch TIA Talks Season 2 Episode 6 for the full breakdown and more industry insights. Whether you’re a broker, underwriter, or simply passionate about how insurance works under pressure, this one’s worth your time.