In this episode, FNO: InsureTech hosts Nic Sproul, managing partner at SP Partners, for a close look at bridging engineering with property claims innovation across the UK and Europe. Nic discusses his transition from a foundation in mechanical engineering and his formative years as an engineer with a leading US silicon chip firm, to building and advising businesses at the intersection of insurance and technology. The conversation explores how a mindset shaped by analytical rigor and operational experience advances property claims management, technology pilots, and collaborative initiatives within the sector.

Key Highlights

Nic details his professional journey, reflecting on how an engineering apprenticeship and experience with a Fremont-based US silicon chip company created a foundation for bringing a technical perspective to the property claims arena.
Emphasis on a practical, analytical mindset as the throughline connecting Nic's work in technology and insurance. He highlights that identifying the right problems to address is key to adding value.
Nic participates as an active collaborator with I Love Claims, the UK's largest claims-focused open forum, supporting peer engagement, industry exchange, and charitable initiatives.
Insight into innovation projects, including Nic's advisory role with a team pitching what they believe to be Europe's first AI model for PFAS ("forever chemicals") risk at Lloyd's Lab, aimed at understanding emerging environmental liabilities.
Discussion of how Optira's satellite data solutions are helping accelerate detection of property subsidence, reducing assessment periods from many months to a matter of weeks, and commentary on cost and adoption considerations.
Reference to AI-powered risk modeling for perils such as subsidence and flood, citing experience with WeatherMind and the importance of working alongside scientists and data specialists.
Nic's guidance for InsurTech founders: define your core problem with precision, ensure solutions demonstrate tangible ROI for insurers, and focus especially on efficient management of high-frequency, low-value claims.

Ep 293: Nic Sproul, Managing Partner, SP Partners

FNO: InsureTech