Ep 293: Nic Sproul, Managing Partner, SP Partners

FNO: InsureTech

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.