Family-run Weir Insurance has operated for more than 50 years and is led by Karen Weir alongside her husband Duncan Weir.
What was your first job (and how much did it pay)? I worked in a tearoom, washing dishes and sweeping floors. It was hard work especially physically, and I earned about tenner a week.
What is the best advice or support you’ve been given in business? To always do what is right for the business, because no individual is bigger or more important than the company as a whole, including me.
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What are the main changes you’ve seen in your business/sector, and what are the challenges you’re facing? There is a disproportionate amount of regulation to comply with at the moment, which doesn’t necessarily improve customer outcomes. London School of Economics are currently re-doing a (three-year-old) survey highlighting a whopping 26% of overheads of good Insurance brokers are cost of compliance, and it is rising. It’s a huge challenge for a business where more than a quarter of costs are regulation (much of it arguably unnecessary). It’s also frustrating to see less scrupulous firms not take this obligation seriously and regulators are slow to take action.
How has the pandemic changed the way you work? We always offered flexible working to help achieve a work life blend but the pandemic prompted us to make additional investment into technology and the introduction of Zoom meetings has enabled us to increase flexibility of hybrid working. The choice is there, for us it has always been there, and most of us actually prefer to be in the office. It’s just good to have the option.
Who is your role model in business? I have always admired Baroness Karen Brady, and how she manages a business in a male dominated industry and integrated this into her family life, while still managing to keep things separate. Her sense of humour and tenacity are an inspiration too.
What would your dream job be? I would love to help to set up and run a kennel-free dog rescue so they can live happily until they find a home. I really admire the work that Dogs 4 Rescue are doing.
What advice would you give to someone starting out a career in your sector? It’s easier said than done, but just do not give up. Insurance is such a tough sector to get into, but if it was easy then everyone would be doing it.
What makes the North East a good place to do business? Our work ethic and friendly disposition. You can feel it in every sector and I’m very proud to be part of the business community here.
How important is it for business to play a role in society? I believe business (especially setting up your own business) is the absolute key to social mobility and diversity. Young adults need more role models to inspire them. Education alone is not enough. Schools are not able to deliver enough ‘life learning’, so having a diverse business landscape to give young people places to learn wider skills is vital for the future.
Outside of work, what are you really good at? Getting up early (I have been part of the 5am club since before the pandemic) and organisation – I live by my One Note app!
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