Diary of an Insurer: Moonrock Drone Insurance's Simon Ritterband

Monday

I’m always excited to dive into the week ahead, so I am up early and out the door by 7.35am. Living in North London, it’s a short hop into the City to the Moonrock office. 

I usually grab a coffee on the way in, opting for a decaf flat white. Since I have ADHD, caffeine actually makes me more tired, so decaf is the only option.

We start the week with an all-hands, stand-up meeting to discuss individual aims for the week and schedules and highlight any issues we need to work through. I believe it’s good practice for a business in the scale-up stage.

The rest of the day is filled with meetings with our direct clients, brokers, and insurer partners.

Tuesday

It’s another busy day. I’m off on a site visit, which means a long(ish) drive to a farm out in the countryside. 

Drone operations within agriculture are one of the fastest-growing sectors, where farmers use drones for crop inspections, seed and fertilizer spreading.

Flights can be complex; for example, with fertiliser spreading, you need regulatory approvals. It’s crucial that we understand what our clients do, how they do it, and what the insurance implications might be. 

Staying in touch and being hands-on with our customers is vital as it helps us stay at the frontier of knowledge, enabling us to create better products and cater to their needs.

Tuesday nights are spent with my son, who’s currently preparing for his A-Levels. We’re big into padel tennis at the moment and play weekly against his friend and dad. It’s a great way to let off steam. We’re quite competitive, but I won’t be going pro anytime soon.

My kids have grown up seeing me work hard (my daughter is at university now), so it’s important to carve out time with them.

It’s good for them to see the effort that goes into building a business, reinforcing the importance of a strong work ethic.

Wednesday

Today is packed with meetings, mostly on Teams but some in-person. Having ADHD actually helps me switch between tasks quickly and efficiently, allowing me to get a lot done. While it has its challenges, in many ways, it’s a superpower.

After arriving at the office, going through emails, and catching up with the team, I’m off to meet with our capacity providers, to update them on progress, underwriting criteria, and address any bespoke queries.

Once back, I dive into a meeting with our developer team to discuss our newly launched website and upcoming hobby insurance product, tweaking anything or fixing any bugs. We’ve been really pleased with the rollout of the new site and are now excited to offer drone insurance to the whole drone community.

Straight after, it’s another Teams meeting, this time with the aviation regulators. It’s important we stay up to date with the latest changes in this constantly evolving industry. Keeping a dialogue with the Civil Aviation Authority (CAA) is essential so we understand how regulations impact our clients.

Throughout the afternoon, it’s chats with staff about new proposals that need to be reviewed for underwriting and updates with finance to ensure we’re collecting outstanding premiums.

Finally, it’s home for date night with my girlfriend. Thankfully, she’s incredibly understanding about me being a slave to my emails, but we’ll make time to head out for dinner or enjoy a home-cooked meal followed by collapsing in front of the TV watching something like Presumed Innocent – I love a good courtroom drama.

Thursday

It always starts with the weekly staff meeting. This time we explore our projects in-depth, identify any pinch points, and work through problems.

Back once again to my emails and the ongoing battle of the inbox – it’s a never-ending challenge. 

As the managing director, I tend to get copied into everything. Just deciding what to prioritise can be a task in itself. I usually grab some nuts, seeds, and an apple for a working lunch at my desk while I plough through the inbox.

I’ll also approve our customer newsletter, which we send out each fortnight, highlighting all the latest drone news, technology updates, and regulatory matters. In addition to being a provider of insurance, we also aim to impart knowledge for our policyholders and partners.

In the afternoon, I meet with brokers at our offices. It’s an opportunity for us to update them on new drone technology and regulations, but also provides time to discuss individual bespoke proposals they bring in for certain customers.

In the evening, I have dinner with a client and brokers. Both the insurance and drone industry are built on relationships, so I believe it’s important to cultivate trust and rapport in less formal surroundings. It’s a late night, so once I get home, I’ve just got time to iron a couple of shirts and collapse into bed.

Friday

First thing, I have a Teams call with a customer who is pioneering beyond-visual-line-of-sight drone operations. 

Usually, regulations state that a remote pilot has to be able to see the drone they are flying. The CAA has made an exception for this client to test BVLOS operations so they can deliver supplies to offshore wind farms. 

This ability to fly BVLOS safely will really revolutionise the industry, so it’s vital we support clients like this in getting the insurance they need.

As a business founder, the weekend often blurs with the working week, so I’ll spend a good part of it catching up on emails, assessing management information data, plotting growth, and preparing once again for another busy week. If the weather is good, I might try and get nine holes of golf in at some point.