Fenmoor Specialty Underwriting / BB-Demo – Renewal
Callcompleted
Fenmoor Specialty Underwriting: documents · 2025-06-04 15:15
Renewal call held 4 Jun 2025. Fenmoor will take a like-for-like Growth renewal to its board, with no commitment yet. The COO challenged unused seats and asked for a written seat usage note.
What was said
What this says
Current to 10 Oct 26Renewal call held 4 Jun 2025. Fenmoor will take a like-for-like Growth renewal to its board, with no commitment yet. The COO challenged unused seats and asked for a written seat usage note.
What happened: Daniel Okafor and Priya Raman confirmed Growth renews as it stands from 1 Jul 2025, with forty licensed users at forty-four thousand for the year. Nothing was signed. Richard Thorne takes it to the board.
Customer view: Callum Reid says the brain answers oversight questions that used to cost half a day. Richard called the unused seats "headroom" and wants the position in writing.
Commercial: Callum warned against cutting seats on the average, because the whole team is in at quarter end. Daniel owes a one-page seat usage note showing average and busy days.
Watch: Richard made no commitment, so the order form is not yet signed. Usage was described as about eleven people active on an average day.
Themes
Current to 9 Oct 26Theme
Growth renewal, seat usage
Importance
renewal
Sentiment
mixed
Voice
decision-maker
Who was there
BB-Demo
CRMmade from
Them
CRMmade from
Follow-up
Next steps
Current to 9 Oct 26- Daniel Okafor sends a one-page seat usage note showing average and busy days by the end of the week.
- Priya Raman has the order form and single-line cover note with Richard Thorne before the board meets.
- Priya Raman sets up a separate expansion call the following week.
Risks
Current to 9 Oct 26- The COO sees forty seats against about eleven daily users as paid-for capacity not used and may push to cut seats.
- No commitment was made and the renewal depends on a board meeting at the end of the following week.
Opportunities
Current to 9 Oct 26- Quarter-end peaks and the capacity-provider oversight use give a value case for keeping Growth at forty users.
- Priya Raman will set up a separate call on extending the brain to more teams.
Transcript
Daniel Okafor NoneGood afternoon, everyone, and thank you for making the time. Let me just check who has joined. I can see Callum, Richard and Priya. Is that all of us?
Priya Raman NoneAfternoon, Daniel. Yes, that's everyone. Hi Callum, hi Richard, good to see you both.
Callum Reid NoneAfternoon. Can you hear me all right? I've got the headset on today, the room next door is taken.- Daniel Okafor NoneLoud and clear, Callum. Richard, you're coming through fine as well.
Richard Thorne NoneYes. Good afternoon.- Daniel Okafor NoneHow's the week treating everyone? It's been properly warm in town, I've been hiding indoors with the blinds down.
- Callum Reid NoneBusy. Bordereaux are due and the syndicates are asking for everything at once. Nothing new there.
- Priya Raman NoneWhich is exactly why we want to keep this tight, to keep momentum and get you back to it. Quick recap from my side – the Growth agreement runs to 30 Jun 2025, the renewal is from 1 Jul 2025, and today is about making that as painless as possible.
- Richard Thorne NoneBefore we begin. What is the decision I'm being asked to make?
- Daniel Okafor NoneThat's a fair question, Richard, and thank you for putting it plainly. Nothing today needs signing. What we'd like is to confirm that Fenmoor is happy to renew Growth as it stands – same tier, same forty licensed users, same figure – and to check there's nothing we've missed before the paperwork goes round.
- Richard Thorne NoneAnd the figure. What does this cost us, all in?
- Daniel Okafor NoneForty-four thousand for the year. That's the order form figure, and it's what has been invoiced to date as well, so there's no difference between what you signed and what you've paid. There's no implementation fee on a renewal, so that is the whole of it.
- Richard Thorne NoneNo additional charges. Nothing that arrives later.
- Priya Raman NoneNothing that I know of, Richard, and I'd say so if there were. Happy to make this easy – I can put it in one line in the cover note so you can see it in black and white.
- Richard Thorne NonePlease do. Keep it simple.
- Daniel Okafor NoneOf course. Callum, if I could turn to you for a moment, because you're the one living in it day to day. How is the team finding it?
- Callum Reid NoneWhat I need is for it to be right at 07:00, and mostly it is. The underwriters use it for the oversight questions. Before, a capacity provider would ask about a cluster of marine cargo submissions and I'd lose half a day pulling it together from the CRM and the claims tickets. Now it's a question and an answer.
- Daniel Okafor NoneThat's good to hear, and it's the use we hoped for when we set it up with you. Can I ask, by roughly how many people? From what I can see it's steady at about eleven people active on an average day.
- Callum Reid NoneSounds about right. It's the ops team, a few of the underwriters, and the two people who handle the syndicate queries. Not all forty seats are touched every day. Some of those are people who dip in once a month.
- Priya Raman NoneAnd that's normal, honestly, for a licence of this size. Forty seats gives you headroom as the teams grow.
- Richard Thorne NoneHeadroom is a polite word for seats we are paying for and not using.
- Daniel Okafor NoneI understand that, Richard, and I'd rather we talked about it openly than skirted round it. Usage is up a little on the previous quarter, about four percent more people active, and the questions being asked are the ones tied to the capacity providers. Whether forty is the right number is a reasonable thing to look at, and I'll come back to you on it once I've seen who is actually dipping in.
- Richard Thorne NoneI would like that. In writing.
- Daniel Okafor NoneUnderstood. Just to close the loop on that one: I'll send a short note on seat usage by the end of the week.
- Callum Reid NoneCan I add something on that? Don't cut the seats on the basis of the average. At quarter end, when the syndicates ask for their reporting, the whole team is in there for a few days. The average hides that.
- Daniel Okafor NoneThat's really helpful, Callum, thank you. I'll make sure the note shows the busy days as well as the average, so Richard sees both sides.
- Richard Thorne NoneBoth sides. Good.
- Priya Raman NoneCan I just jump in on timing, so we don't lose the thread? The agreement ends on 30 Jun 2025 and the renewal starts on 1 Jul 2025, so there's roughly three and a half weeks. If we can get this over the line by the middle of the month, nobody is chasing a signature on the last day.
- Richard Thorne NoneI will need to take that to the board. They do not meet until the end of next week.
- Priya Raman NoneThat works. Let me not push you past that. If it's the end of next week, I can have the order form ready and sitting with you before then, and you sign when the board has seen it.
- Richard Thorne NoneI make no commitment today. But that is workable.
- Daniel Okafor NoneThat's absolutely fine, Richard, and it's what I'd expect. Nobody's asking you to commit on a call.
- Daniel Okafor NoneCallum, while we have you, is there anything about the connectors or the refresh that's been bothering the team? I'm not seeing any tickets from you in the last month, which is lovely, but silence doesn't always mean everything is fine.
- Callum Reid NoneNo. It's been quiet, and I'll take quiet. The dashboards are right in the morning. Last month I checked three mornings running because I didn't trust it, and it was fine each time.
- Daniel Okafor NoneI'm glad you checked, honestly, that's the right instinct. And if it ever isn't right at 07:00, you tell me the same day.
- Callum Reid NoneBy when would you come back to me, though? If I raise it. That's what I need to know.
- Daniel Okafor NoneFair. For anything blocking the morning view, you'd have a first response within the hour on Growth, and I'd pick it up myself the same day to see where it sits. I don't want you waiting on a ticket queue.
- Callum Reid NoneGood. That's a capacity-provider question as much as ours, to be honest. If the numbers are wrong at their end, I need to be able to say when it'll be fixed.
- Priya Raman NoneWhich brings me to one more thing, and I'll be quick. There's a conversation I'd like us to have at some point about where the brain goes next at Fenmoor – more teams, more of the oversight work. I don't want to muddle it with the renewal today, so I'd suggest we park it and I'll set up a separate call next week.
- Richard Thorne NoneKeep it separate. Renew first.
- Priya Raman NoneCompletely agree, Richard. Renewal first, as it stands, and then a separate conversation.
- Daniel Okafor NoneThen, from my side, let me go back over what I think we've agreed, so we all leave with the same picture.
- Daniel Okafor NoneGrowth renews as it is. Forty licensed users, forty-four thousand for the year, starting 1 Jul 2025. Richard takes it to the board at the end of next week. Priya prepares the order form and the cover note with the single-line figure, and has it with Richard before the board meets. And I send a note on seat usage, the average and the busy days, by the end of the week. Have I missed anything?
- Callum Reid NoneThat's it. One thing. Keep the note short. Richard won't read three pages.
- Richard Thorne NoneI will read one.
- Daniel Okafor NoneOne page, then. I'll hold myself to it.
- Priya Raman NoneBrilliant. Thanks, all – I'll get the paperwork over to you both and I'll be in touch about the separate call.
- Richard Thorne NoneThank you. Regards.
- Callum Reid NoneCheers all. Back to the bordereaux.
- Daniel Okafor NoneThank you both for your time. Speak soon.
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