Essa legislação histórica substituirá o atual marco regulatório, introduzindo mudanças abrangentes na estruturação de contratos, nas leis aplicáveis e nos processos operacionais. O objetivo é modernizar o ambiente regulatório e fortalecer as proteções para os segurados, ao mesmo tempo em que exige que seguradoras e resseguradoras adaptem suas práticas e melhorem sua compliance.
Mudanças Principais na Lei de Seguros Brasileira
Essas mudanças não são apenas atualizações regulatórias; representam uma mudança fundamental em como seguradoras e resseguradoras operam. Com maior ênfase na pontualidade, transparência e responsabilidade, as empresas devem otimizar seus processos internos e adotar uma abordagem proativa em compliance.
Regulamentações de Solvência: ORSA
Além da Lei de Seguros Brasileira, as principais seguradoras e resseguradoras também estão enfrentando o desafio do Own Risk and Solvency Assessment (ORSA) (autoavaliação de risco e solvência), que exige uma gestão de riscos robusta e análise de cenários para garantir a solvência. O ORSA demanda avaliações internas detalhadas da capacidade de uma seguradora de cumprir suas obrigações em diversas condições, destacando a necessidade de controles operacionais mais fortes e modelos de risco aprimorados.
Na Pro Global, reconhecemos os desafios que essas mudanças regulatórias apresentam e estamos observando uma forte demanda por conhecimento local especializado para apoiar as equipes internas de compliance e fornecer revisões independentes dos processos. Nossas soluções são projetadas para ajudar as seguradoras a fortalecer sua resiliência operacional, garantindo que possam navegar pelas complexidades dessas regulamentações com confiança.
Tecnologia e Inovação
Paralelamente à reforma regulatória, o mercado de seguros brasileiro está passando por um crescimento acelerado em inovação tecnológica. Conforme destacado na Parte 1, mais de 200 insurtechs surgiram no Brasil nos últimos anos, muitas aproveitando a inteligência artificial (IA) para aprimorar subscrição, avaliação de riscos e eficiência operacional. A IA generativa e ferramentas avançadas de automação, em particular, estão se mostrando inestimáveis para ajudar as empresas a atender às exigências de compliance, especialmente de acordo com o ORSA.
No entanto, a integração de novas tecnologias traz seus próprios desafios, especialmente no campo da cibersegurança. À medida que as seguradoras adotam processos digitalizados e automação de ponta a ponta, garantir a proteção de dados e a segurança operacional torna-se fundamental. Como resultado, estamos observando uma crescente demanda por soluções personalizadas de auditoria cibernética que ajudem a identificar possíveis vulnerabilidades, aprimorar defesas e fortalecer a segurança contra riscos cibernéticos em um cenário digital cada vez mais conectado.
Supervisão Proativa é Fundamental
A introdução da Lei de Seguros Brasileira marca um momento decisivo para o setor acelerar a supervisão proativa. A demanda por automação, eficiência operacional e soluções adaptadas localmente só aumentará à medida que o ambiente regulatório evoluir. Na Pro Global, permanecemos dedicados a ajudar nossos clientes a transformar esses desafios em oportunidades, garantindo um crescimento contínuo e conforme, além de excelência operacional no vibrante setor de seguros do Brasil.
Leitura adicional: Foco no Crescimento no Brasil Parte 1 – Buscando Eficiência na Complexidade no Maior Mercado de Seguros da América Latina
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Name: Juan Bragadin
Job title: Country Manager (Brazil)
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As the Lloyd’s and London Market grows – forecasted to expand from $115 billion to $150 billion over the next five years – the importance of effective and resilient claims handling has never been more critical. Claims Third-Party Administrators (TPAs) play a pivotal role in ensuring smooth operations within this expanding ecosystem. However, Lloyd’s 2025 Market Oversight Plan has made it clear that there’s room for improvement, particularly in claims cost management and business retention.
How can TPAs can strengthen their operations to align with Lloyd’s new focus on raising claims to a “hurdle principle,” ensuring market-wide excellence in claims service?
Why the Focus on Claims Now?
Lloyd’s has identified claims handling as a cornerstone of market resilience and customer satisfaction. The 2025 Market Oversight Plan specifically states that elevating claims as a “hurdle principle” aims to “deliver a superior claims service to customers and contribute positively to the overall market financial performance through tangible improvements in claims cost management and business retention”.
This strategic shift underscores the importance of enhancing claims data accuracy, improving forward-looking case reserve management, and embedding operational resilience into claims handling processes.
Challenges Facing Claims TPAs
With over 300 TPAs supporting the Lloyd’s market, the variability in capabilities and practices presents significant challenges, including:
Best Practices for 2025
1. Data-Driven Decision-Making
Accurate and timely claims data is critical for effective decision-making. Lloyd’s has highlighted the need for improvements in how delegated claims data is used to drive performance. Pro Global’s advanced platforms ensure transparency and deliver actionable insights, helping to proactively manage claims reserves and improve outcomes and setting the standard for TPA best practice.
2. Operational Excellence
The Lloyd’s Market Oversight Plan emphasises operational resilience as a key focus area. Pro’s hybrid onshore-offshore delivery models and scalable claims platforms exemplify how TPAs can meet these demands. For instance, Pro’s UK claims platform, managing over £2 billion in liabilities, is built to handle complex specialty claims while maintaining efficiency and compliance.
3. Technology and Automation
Lloyd’s Blueprint Two and the 2025 oversight framework stress the importance of leveraging technology for claims management. Automation tools, like those deployed by Pro, streamline repetitive tasks and enable TPAs to allocate resources to high-value activities, reducing operational costs and improving client satisfaction.
4. Enhanced Governance and Compliance
With the integration of claims as a “hurdle principle,” Lloyd’s is prioritising governance in claims handling. Pro has already implemented a unified panel of law firms and robust compliance frameworks to support clients in navigating regulatory complexities.
5. Proactive Risk Management
The oversight plan also calls for better case reserve management influenced by emerging risks. Pro’s predictive analytics capabilities enable TPAs to identify and mitigate potential issues before they escalate, ensuring a proactive approach to risk management.
Setting a New Standard
Strengthening claims management capabilities is about delivering operational excellence in a complex, ever-changing environment. Complex claims require focus, dedicated expertise, trusted advisors, and a consistent commitment to best practices to manage them effectively and at scale.
As Lloyd’s pushes for a more customer-centric and resilient claims process, TPAs have an opportunity to raise the bar by adopting these principles. Pro Global is proud to be at the forefront of these developments, consistently delivering solutions that combine deep expertise, innovation, and resilience. This approach ensures not only the smooth functioning of the claims process but also sets new benchmarks for complex claims management excellence in one of the world’s most dynamic insurance markets.
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Name: Richard Emmett
Job title: Head of Insurance Services
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Sin embargo, para seguir apoyando este crecimiento, el equipo de expertos de Pro Global está trabajando en estrecha colaboración con reaseguradoras y aseguradoras en el país para abordar desafíos técnicos complejos y de nicho que afectan la eficiencia general del sector. Un área clave en este sentido es la colocación y asignación del reaseguro.
Los Riesgos del Reaseguro Incompleto
Una tendencia que hemos observado es la ocurrencia de reaseguros no colocados, donde los corredores, por diversas razones, no han colocado una línea de reaseguro. En algunos casos, las aseguradoras corren el riesgo de descubrir brechas en la cobertura solo después de que se presenten reclamaciones, lo que genera desafíos significativos.
Este problema no es solo teórico. En Perú, ha habido casos en los que corredores han desaparecido del mercado tras no completar colocaciones importantes, dejando a las aseguradoras expuestas y generando un mayor escrutinio regulatorio.
En Pro Global, estamos abordando este desafío proporcionando servicios independientes de verificación de colocación de reaseguro para aseguradoras en Perú. Tanto aseguradoras como corredores confían en nosotros para emitir Certificados de Asignación de Reaseguro Facultativo al 100%, confirmando que cada riesgo está completamente cubierto.
Cerrando la Brecha de Confianza
Nuestro papel como asesores de confianza es crucial, especialmente en escenarios urgentes donde las aseguradoras necesitan garantías inmediatas. Al verificar las asignaciones de reaseguro, ayudamos a mitigar riesgos, mejorar la transparencia y fortalecer las relaciones entre aseguradoras y reaseguradoras.
Este servicio se ha vuelto indispensable a medida que el mercado exige mayor responsabilidad y controles de auditoría más estrictos. También resalta la necesidad de capacidades sólidas de gestión de riesgos empresariales, que, según AM Best, son fundamentales para navegar el complejo panorama asegurador de Perú.
Un Mercado de Oportunidades y Desafíos
Si bien el sector asegurador peruano ofrece enormes oportunidades, también requiere supervisión minuciosa e innovación para abordar sus desafíos únicos. A medida que enfrentamos estas complejidades, en Pro Global seguimos comprometidos a responder a los puntos críticos que las aseguradoras buscan resolver, con el fin de impulsar el crecimiento y la estabilidad del mercado.
Lectura adicional: [Garantizando la Precisión en la Asignación de Reaseguros: Tendencias en el Creciente Mercado Asegurador de Perú (Parte 1)]
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Name: Alberto de Trazegnies
Job title: Representante de Perú
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Sin embargo, detrás de estas proyecciones optimistas yace la necesidad crítica de precisión en la asignación de reaseguros, un desafío que Pro Global está abordando de manera directa en Perú.
Comparación de Coberturas: Abordando Discrepancias en los Datos de Reaseguro
Uno de los principales desafíos que hemos identificado es la creciente demanda de servicios de comparación de coberturas para reconciliar discrepancias en la documentación de reaseguros. Trabajando con las principales reaseguradoras en Perú, procesamos miles de slips de asignación y notas de cobertura, detectando inconsistencias generadas por errores humanos durante la transcripción de datos.
Estas discrepancias pueden parecer menores, como puntos decimales mal alineados o períodos de cobertura incorrectos, pero su impacto potencial es enorme. Entre los errores más comunes encontramos:
Para abordar este problema, Pro Global ha desarrollado un innovador sistema de matrices que clasifica las discrepancias por nivel de gravedad, utilizando alertas en rojo, amarillo y verde. Este enfoque estructurado no solo ha optimizado los procesos para nuestros clientes, sino que también les ha ahorrado millones, garantizando claridad operativa y reduciendo la exposición al riesgo.
Nuestro enfoque proactivo permite que reaseguradoras y corredores reconcilien los detalles de cobertura con precisión, reduciendo el riesgo de exposición y fortaleciendo la confianza en toda la cadena de seguros.
Un Mercado Resiliente con un Futuro Prometedor
A pesar de algunos desafíos políticos y económicos, la base macroeconómica de Perú y su sólido liderazgo en el sector asegurador siguen proporcionando un entorno estable para el crecimiento. Servicios como la Comparación de Coberturas y la Certificación de Asignación de Reaseguro al 100% desempeñarán un papel cada vez más crítico en el fortalecimiento del cumplimiento regulatorio, la reducción de ineficiencias operativas y el aumento de la rentabilidad para todas las partes interesadas.
De cara al futuro, las aseguradoras también deberán adaptarse a los avances tecnológicos y a las actualizaciones regulatorias. Por ejemplo, la automatización y las soluciones impulsadas por inteligencia artificial serán clave para mantener la competitividad, mientras que las mejoras continuas en ciberseguridad garantizarán la resiliencia en un mundo digitalmente conectado.
Lectura adicional: La Parte 2 de nuestro análisis sobre Perú explora otra tendencia crítica en el mercado asegurador peruano: la necesidad urgente de certificados de Asignación de Reaseguro al 100%.
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Name: Alberto de Trazegnies
Job title: Representante de Perú
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However, to continue to support this growth the expert team at Pro Global are working closely with re/insurers in the country to tackle complex niche technical challenges that impact the overall efficiency of the sector, and a key area for this is reinsurance placement and allocation.
The Risks of Incomplete Reinsurance
One trend we’ve observed is the occurrence of unplaced reinsurance, where brokers for one reason or another have not placed a reinsurance line. In some cases, insurers risk discovering gaps in coverage only after claims were filed – resulting in significant challenges.
This issue is not just theoretical. In Peru, there have been instances where brokers disappeared from the market after failing to complete large placements, leaving insurers exposed and prompting increased regulatory scrutiny.
At Pro Global, we’re addressing this challenge by providing independent reinsurance placement verification services for insurers in Peru. Insurers and brokers rely on us to deliver Certificates of 100% Facultative Reinsurance Allocation, confirming that every risk is fully covered.
Bridging the Trust Gap
Our role as a trusted advisor is vital, especially in urgent scenarios where insurers need immediate assurance. By verifying reinsurance allocations, we help mitigate risks, enhance transparency, and foster stronger relationships between insurers and reinsurers.
This service has become indispensable as the market demands higher accountability and stricter audit controls. It also underscores the need for robust enterprise risk management capabilities, which, as AM Best notes, are crucial for navigating Peru’s complex insurance landscape.
A Market of Opportunities and Challenges
While Peru’s insurance sector offers immense opportunities, it also requires meticulous oversight and innovation to address its unique challenges. As we navigate these complexities, Pro Global remains committed to responding to the in-depth pain points that insurers are seeking support with to further the market’s growth and stability.
Further Reading: Ensuring Accuracy in Reinsurance Allocations: Trends in Peru’s Growing Insurance Market (Part 1)
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Name: Alberto de Trazegnies
Job title: Peru Representative
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However, beneath these optimistic projections lies the critical need for precision in reinsurance allocations – a challenge Pro Global is addressing head-on in Peru.
Cover Comparison: Tackling Discrepancies in Reinsurance Data
One of the most significant trends we’ve observed is the growing demand for cover comparison services to reconcile disparities in reinsurance documentation. Working with leading reinsurers in Peru, we process thousands of allocation slips and cover notes, uncovering discrepancies caused by human error during data transcription.
These discrepancies may appear minor, such as misaligned decimal points or incorrect coverage periods, but their potential impact is enormous. Such errors can include:
– Coverage Inconsistencies
– Limits of Sums Insureds
– Deductible Inconsistencies
– Financial Exposure Inconsistencies
To address this, Pro Global has developed an innovative matrix system that categorises discrepancies by severity, using red, yellow, and green alerts. This structured approach has not only streamlined processes for our clients, but has also saved them millions, ensuring operational clarity and reducing risk exposure.
Our proactive approach ensures that reinsurers and brokers can reconcile coverage details accurately, reducing risk exposure and building trust across the insurance chain.
A Resilient Market with a Promising Future
Despite some political and economic headwinds, Peru’s macroeconomic foundation and strong insurance leadership continue to provide a stable environment for growth. Services like Cover Comparisson and 100% Certification Reinsurance Allocation will play an increasingly critical role in strengthening regulatory compliance, reducing operational inefficiencies and enhancing profitability for all stakeholders.
Looking ahead, insurers must also address technological shifts and regulatory updates. For example, automation and AI-driven solutions will be key to staying competitive, while ongoing improvements to cyber security will ensure resilience in a digitally connected world.
Further reading: Part 2 of our focus on Peru explores another critical trend shaping the Peruvian insurance market: the urgent need for certificates of 100% Reinsurance Allocation.
Get in touch to find out more about our services in Latin America.
Name: Alberto de Trazegnies
Job title: Peru Representative
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The recent legal and regulatory turmoil surrounding TruStar Underwriting Inc. in Ontario, Canada, has sent ripples across Canada’s MGA community. Allegations of operational failures have reignited discussions about the critical need for robust oversight and governance in the MGA sector.
A Case Study in Risk
TruStar is currently embroiled in legal action against its former CEO, Daniel Moses, and other unnamed parties. Accusations include collecting premiums for non-existent policies and redirecting funds for personal gain. A court-appointed receiver, Grant Thornton, has been tasked with resolving the fallout, including addressing uninsured clients and reclaiming potentially misappropriated funds.
These allegations, though yet unproven, serve as a stark reminder of the possible consequences when governance fails. The case also highlights the complexity of managing MGA operations, particularly in markets where regulatory frameworks vary significantly.
Broader Implications for MGAs and Insurers
The TruStar case is not an isolated incident. Recent mergers in the broker sector have resulted in the consolidation of MGA portfolios, often creating operational challenges, particularly in premium management. In such cases, fragmented systems can obscure financial irregularities, making it harder to detect and mitigate risks.
In Ontario, regulators like RIBO and FSRA have intensified their focus on MGA oversight. FSRA’s 2023 review revealed that while MGAs represent a small share of the P&C market, their influence is significant due to the specialized nature of their operations. This raises questions about how effectively insurers are monitoring their MGA partners.
Pro Global’s Role in Mitigating Risks
At Pro Global, we are uniquely positioned to support MGAs and insurers in navigating these challenges. Our audit and compliance services help stakeholders ensure financial transparency, operational integrity and conformity with contractual agreements. Key areas of focus include:
Call to Action for Industry Stakeholders
The fallout from TruStar is a wake-up call for MGAs and insurers across Canada. Strengthening oversight, fostering transparency, and embracing proactive compliance measures are critical to restoring trust and ensuring consumer protection.
However, it is equally important to recognize the many high-quality, innovative MGAs that are driving progress in the sector. These MGAs play a vital role in improving the efficiency and relevance of insurance, offering specialized solutions that address unique market needs and challenges.
Pro Global remains committed to helping our partners build resilience in an increasingly complex market. By leveraging our expertise, stakeholders can navigate these challenges and emerge stronger, more accountable, and better prepared for the future.
Get in touch with our expert audit team to find out more.
The views expressed in this article are based on publicly available information from regulatory bodies and media reports. The allegations mentioned are unproven and remain subject to ongoing legal proceedings. Pro Global assumes no responsibility for the accuracy or completeness of third-party information cited in this article.
Name: Elaine Collier
Job title: Senior Auditor (Canada)
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Growth in Brazil’s insurance market is also robust. The general insurance industry is forecast to grow at a compound annual growth rate of 7.3%, rising from BRL 242.6 billion ($46.97 billion) in 2022 to BRL 344.9 billion ($68.03 billion) in 2027, according to GlobalData.
The scale and momentum of this growth underline the need for local knowledge, insights, and experience to navigate an evolving market. With a diverse range of regulatory requirements and operational challenges unique to Brazil, the demand for on-the-ground expertise has never been greater.
Tackling Complex Challenges
Among the pressing issues Brazilian insurers face is the challenge of unallocated cash. This persistent concern can tie up significant resources, but solutions are available. By leveraging historical data, adopting robust processes, and employing intelligent tools, the team at Pro Global Brazil is working closely with leading local insurers to systematically address unallocated cash. Unlocking this liquidity is vital for improving financial operations and enabling efficient growth.
Since entering the Brazilian market in 2020 with an initial focus on run-off insurance management, we’ve expanded our offerings to include bespoke automation solutions tailored specifically to local needs. These solutions not only address operational inefficiencies but also increasingly help businesses meet the growing demands for holistic digital transformation and proactive governance.
Automation: The Way Forward
The complexity and technology-driven evolution of Brazil’s insurance landscape is also driving the adoption of intelligent automation. More than 200 insurtech startups have emerged in recent years, transforming the market by addressing inefficiencies such as duplication and manual errors.
At Pro Global, we have embraced this shift, working closely with insurers to design tailored digital services, including advanced robotic process automation solutions.
From claims recovery for legacy treaty contracts to improving underwriting processes, these bespoke solutions are helping insurers navigate the unique challenges of the Brazilian market more efficiently than ever before. In a highly competitive growth market, this efficiency edge in dealing with complex challenges is what matters to Brazil’s leading insurers as they plan for the future.
Further reading: Spotlight on Growth in Brazil Part 2 – Navigating Regulatory Changes
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Name: Juan Bragadin
Job title: Country Manager (Brazil)
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This landmark legislation will replace the existing framework, introducing comprehensive changes to contract structuring, governing law, and operational processes. It aims to modernise the regulatory landscape and strengthen protections for policyholders, while placing significant demands on insurers and reinsurers to adapt their practices and enhance compliance.
Some Key Changes Under the Brazilian Insurance Act
1. Response Deadlines and Tacit Approval
2. Policyholder-Focused Regulations
3. Operational Impacts
These changes are not just regulatory updates; they signal a fundamental shift in how insurers and reinsurers operate. With greater emphasis on timeliness, transparency, and accountability, firms must streamline their internal processes and adopt a proactive approach to compliance.
Solvency Regulations: ORSA
In addition to the Brazilian Insurance Act, re/insurers are also grappling with the Own Risk and Solvency Assessment (ORSA) framework, which requires robust risk management and scenario analysis to ensure solvency. ORSA demands detailed internal assessments of an insurer’s ability to meet its obligations under various conditions, highlighting the need for stronger operational controls and enhanced risk modelling.
At Pro Global, we recognise the challenges these regulatory changes present and are seeing strong demand for expert local knowledge to support in-house compliance teams and provide independent reviews of processes. Our solutions are designed to help insurers strengthen their operational resilience, ensuring they can navigate the complexities of these regulations with confidence.
Technology and Innovation
In parallel with regulatory reform, Brazil’s insurance market is experiencing a surge in technological innovation. As highlighted in Part 1, over 200 insurtechs have launched in Brazil in recent years, and many are leveraging artificial intelligence (AI) to enhance underwriting, risk assessment, and operational efficiency. Generative AI and advanced automation tools, in particular, are proving invaluable in helping companies meet compliance demands, especially under frameworks like ORSA.
However, the integration of new technologies comes with its own challenges, particularly in the realm of cybersecurity. As insurers embrace end-to-end automation and digitised processes, ensuring data protection and operational security becomes paramount. As a result, we are seeing growing demand for support with tailored cyber audit solutions that help identify potential weaknesses to help enhance defences and strengthen re/insurers’ defences against growing cyber risks in this increasingly connected digital landscape.
Proactive oversight is Key
The introduction of the Brazilian Insurance Act is a pivotal moment for the industry to accelerate proactive oversight. The demand for automation, operational efficiency, and locally adapted solutions will only grow as the regulatory environment evolves. At Pro Global, we remain dedicated to helping our clients turn these challenges into opportunities, ensuring continued compliant growth and operational excellence in Brazil’s vibrant insurance sector.
Further reading: Spotlight on Growth in Brazil Part 1 – Finding Efficiency in Complexity in Latin America’s Largest Insurance Market
Get in touch to find out more about our services in Latin America.
Name: Juan Bragadin
Job title: Country Manager (Brazil)
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In his second work placement with Pro MGA Global Solutions, 17-year-old Ollie Dalzell gears up for a future in financial services.
This time last year, a bright young man walked through the doors at Pro MGA Global Solutions shortly after completing his GCSEs, to undertake a week’s work experience.
Undecided on which direction he’d like his fledgling career to go, he spent the week shadowing CEO, Danny Maleary.
Fast forward one year, after a successful first 12 months studying for his A Levels, Ollie Dalzell was back in the building, with his sights firmly set on a career in financial services.
“Last year was such a great experience for me, and it opened my eyes to what is out there,” said Ollie. “I spent that week shadowing Danny Maleary, attending the meetings he had scheduled, so I could see what a typical week looked like in this industry. But this year I came back knowing there were specific things I wanted to get out of the week, and it was a much more forensic look into this world.”
Ollie plans to study Maths at University, opting for modules that’ll incorporate Economics too. With that in mind, Ollie spent much of his time working with Preeti Bansil, Head of Operations and People at Pro MGA Global Solutions, to understand how the business uses models to help operate efficiently.
“We learn so much theory in the classroom, but when you sit in a workplace and see how models are used, it brings it all to life. You realise that the classroom only touches on the surface of reality. It was so helpful for me.”
Moving forward, Ollie stresses the importance of gaining workplace experience to help provide direction.
“For any soon-to-be school leaver out there, I can’t recommend work experience enough. Especially if you start out just shadowing someone, then going away and reflecting, to know if it piques your interest or not. If it does, you can go back and ask for a more specific experience so you can be absolutely clear if you’re going in the right direction or not. That’ll shape your decisions on Higher Education or whether you want to move straight into work.”
For Ollie, the hard work is only just beginning. He now aims to start making connections across the industry, creating a LinkedIn account and letting his ambitions be known.
We wish Ollie all the best for his final year of A Levels and watch on with interest.
Hear more from Ollie on his week at Pro MGA Global Solutions in the vlog linked above on Pro Global TV.
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