S2 E4: Dementia Awareness in the Insurance World with Richard Dudley and Chris Park

People in Insurance: Changing the Conversation

This podcast episode of 'People in Insurance, Changing the Conversation' Sharon Brown takes the role of host, with guests Richard Dudley, and Chris Park discussing the intersection of the insurance industry with dementia awareness and research efforts.

The conversation explores the mission of Insurance United Against Dementia (IUAD), initiated in 2017 to leverage industry collaboration for funding and awareness in partnership with the Alzheimer's Society. Key topics include an explanation of dementia and its impact, the importance of early diagnosis, and personal stories that highlight the challenges faced by individuals and families affected by the disease.

The discussion also touches on the insurance industry’s fundraising efforts, having raised nearly £10 million, and future goals with IUAD 2.0 to further support Alzheimer’s research institutes and public awareness. The podcast advocates for continued industry support, citing recent developments in treatments like Lecanemab and the need for increased awareness and investment in dementia research globally.

It encourages people to participate in initiatives such as the 'Insurance Day for Dementia' to sustain the momentum against this largest killer disease.

Quote of the Episode

"Research will beat dementia." - attributed to the associate director of research at the Alzheimer's Society

Key Takeaways

• Dementia is caused by diseases that physically damage the brain, with Alzheimer's disease being the most common cause.
• Early diagnosis of dementia is crucial for providing proper care, support, and potential treatment.
• The insurance industry, through IUAD, has raised nearly £10 million to support the Alzheimer's Society and dementia research.
• IUAD funds have supported the UK Dementia Research Institute and crucial services during the COVID-19 pandemic.
• The insurance industry is well-positioned to support dementia causes due to its collaborative nature and reach.

Key Quotes

“If you've met one person with dementia, you've met one person with dementia. And this program really shows that you've got people of very different ages, different backgrounds, different demographics, and showing different symptoms and signs of dementia.” – Chris Park

“People are dying from it, and I think that we need some education, some experiences shared on that dying process so it's not quite as scary for people when they have to watch their loved ones go through it.” – Sharon Brown

“it's the beginning of the end for dementia. The researchers in the field will learn from Lecanemab and they'll learn from these other trials, and we’ll get to a point where the treatments are going to be able to be administered more easily and will be more cost effective and will have also made more of a journey in diagnosis.” – Chris Park

“In fact, it's probably the biggest killer in the world. One in three people who are born today are going to develop these diseases: one form of dementia or another. And the amount of money and attention that is placed on trying to solve that challenge is ridiculously small when you compare it to some of the other bigger killers.” – Richard Dudley

About the Guests

Chris Park

Chris is the Development Board Lead at Alzheimer’s Society. Leading a small team that work closely with ten senior members of the Insurance industry – who have the objective to raise vital funds for Alzheimer’s Society projects and awareness of the impact of, and support for, people affected by dementia.

Chris and his team work with individuals and organisations from the wider industry under the leadership of the award-winning Insurance United Against Dementia (IUAD) campaign and senior level volunteer board members. Chris also works with senior figures in the sporting world, who have similar aims, ambitions and motivations to support the cause.

A passionate fundraiser and relationship manager, Chris has worked in the charitable sector for over ten years. Including over 6-years at NSPCC and a 3-year term acting as a Trustee for disability cycling charity, Wheels for Wellbeing. This time in the charitable sector following on from his roles within not-for-profit organisations within the sport for development, and inclusion, space.

Richard Dudley

Richard joins BMS In December 2024 as Group Broking Director after a long career at Aon, where he was most recently responsible for driving Aon’s customer focussed strategy with respect to the challenges and opportunities presented by climate change. Prior to this appointment Richard led Aon’s London Market wholesale and specialty insurance business, having spent the years before this in Aon Reinsurance. He has worked in the London market for his entire 30yr career.

He is also a working member of the Council of Lloyd’s. He previously served on the LIIBA Board, as Chair between 2020 and 2022, and as a member of the London Market Group board.

About IUAD

Since 2017, the Insurance United Against Dementia (IUAD) industry led campaign has raised over £9.6mn in partnership with Alzheimer’s Society. This incredible fundraising effort has provided funds to drive crucial support services to give help to people affected by dementia when they most need it, but also powered pioneering dementia research investments of Alzheimer’s Society, helping to provide hope for a future where dementia no longer devastates lives.

About the Guest Host

Sharon has over 30 years of insurance experience and a proven track record in creating and delivering insurance schemes and products, sales and marketing strategies, and robust business infrastructures. In a previous role as chief sales officer for a large independent Lloyd’s insurance broker, she developed original sales and distribution models for clearing banks, insurance companies, MGAs, and insurance brokers. Prior to this, she was a sales and marketing director. Latterly Sharon ran an MGA specialising in commercial After the Event dispute insurance. She executed a strategy to revitalise the business and the brand, redefine distribution channels and create new business opportunities. Sharon is currently working on some exciting projects with colleagues in the insurance industry.

Sharon has a particular interest in advancing inclusivity in the insurance industry by embracing diversity, specifically by inspiring females and promoting a multi-generational and multi-cultural workforce. Sharon was named as a woman of influence in 2018 by Insurance Business magazine and was nominated in three categories for the Insurance Times Women in Insurance Awards 2020: Insurance Woman of the Year, Role Model of the Year, and Trailblazer. In 2021, Sharon was named on the IB UK Elite Women list.

She is a passionate supporter of Alzheimer’s Society, a cause that is especially close to her heart. Sharon is a keen amateur horsewoman and regularly competes in local equestrian events. She has two adult children and a menagerie of animals.