In today’s risk landscape, continuous professional development is essential. We spoke with Ben Benoot, Risk & Insurance Manager at Galloo — one of the largest scrap recycling companies in Western Europe — about his experience with the FERMA-Lloyd’s Academy programme.
Ben began his career as an insurance broker, a role he held for 17 years. In 2021, he transitioned to the corporate side, taking on responsibility for risk and insurance management at Galloo.
Over the past decade, Ben aknowledges that risk management has changed significantly, shaped by major global events such as the Suez Canal blockage, the pandemic, the war in Ukraine, climate-related disasters, and the growing frequency of cyber incidents. As a result, the role of risk managers has gained increasing recognition.
The FERMA-Lloyd’s Academy programme
Ben was particularly drawn to the FERMA-Lloyd’s Academy because of Lloyd’s rich history and its integral role in the global insurance market. “For any insurance professional, Lloyd’s is a unique place to visit and the perfect environment to deepen your knowledge,” he says. Ben was eager to better understand how this historic insurance marketplace operates and to connect with fellow risk managers to share experiences.
Looking back, Ben describes his participation as highly inspiring and energising. One of the highlights was shadowing a Lloyd’s broker during negotiations with underwriters on political risks and property insurance. “That was truly an eye-opening experience,” he recalls.
The knowledge gained through the programme has proven directly applicable in his daily work, providing him with valuable insights into insurance structures and alternative risk transfer solutions. While his overall approach to risk management remains consistent, Ben feels even more motivated to further embed risk management across his organisation. Beyond the technical content, the networking opportunities proved equally beneficial.
FERMA-Lloyd’s Academy and RIMAP: A Complementary Combination
In addition to the Lloyd’s Academy, Ben also holds the RIMAP certification. In his view, the two programmes complement each other very well. RIMAP lays a solid foundation and promotes ongoing learning, while the Lloyd’s Academy offers deeper insights, especially in areas such as risk transfer, geopolitical, environmental, and cyber risks. Although Lloyd’s commercial perspective was naturally present during the sessions, Ben found it did not detract from the learning experience.
Ben continues to pursue professional growth, recognising that the diversity of the risk management field requires constant development. Currently, he is focused on refining risk analysis processes, particularly in the quantification and qualification of risks. He has also deepened his knowledge of alternative risk transfer methods such as parametrics and captives, although he acknowledges that there is still much to explore in these areas.
A Clear Recommendation
When asked whether he would recommend the programme, Ben’s answer is unequivocal: “Absolutely. It connects you with fellow risk managers in a non-commercial environment and can truly boost your career.” The programme also led him to attend the FERMA Forum in Madrid, which coincided with the Academy sessions. “For anyone considering it, I would strongly recommend visiting the FERMA Forum, it was a revelation.”
