Mel Richards, Director at Coversure BYB Group, is a pioneer in the insurance industry, demonstrating how women in leadership can reshape the future of the sector. Her career exemplifies adaptability, determination and the power of investing in people.
Mel’s journey into insurance
After a rejection from an insurance company at 17 due to her retail experience, Mel returned, boldly requesting a chance. “I was frustrated with retail, so I reached back out to the company that had turned me down. The very next day, they offered me a job,” she says. At just 18, Mel became Claims Manager, a role she earned after identifying issues in the claims process and creating a training plan to resolve them. “It was my baptism of fire,” she recalls. This early experience taught her the importance of taking initiative and creating solutions.
Rising through the ranks
After working at a schemes broker and Coversure’s head office, Mel moved to Aviva to broaden her insurer experience. Initially joining the HR department, she soon transitioned to a role as a personal lines specialist, where she gained insights into pricing and business management. However, Mel’s passion remained in broking. Along the way, a mentor advised her on how to obtain respect in a male-dominated industry. “You need to command a room,” he told her. “You have to prove your expertise in the first 10 minutes.” His advice shaped her approach, helping her build confidence and succeed in challenging environments.
Expanding Coversure BYB Group
In 2012, Mel returned to Yorkshire to open a Coversure branch in York. Along with her husband Tony who already ran the Batley branch, they expanded the business to three locations: Batley, York and Middlesbrough. The acquisition of the Middlesbrough branch in 2023 was a strategic decision with growth potential. “It’s the smallest of our branches now, but there’s so much opportunity for growth there,” she explains. Since expanding the business, Mel and Tony have gone from strength-to-strength working together as a couple receiving regular feedback on the merit of their teamwork. “Tony and I are very much the good cop, bad cop duo,” she laughs. “He handles things I’m not great at, and I take on the roles that suit me.” Continuing on their growth trajectory, Mel and Tony are firmly on the lookout for acquisition and growth opportunities.
Investing in people
Mel believes a business’s strength lies in its people and she has made it a priority to invest in staff training and development. “Our team is absolutely everything. The training we give them is crucial to their growth,” she says. With an external mentor’s guidance, Mel refined team roles and introduced a New Business Development Executive to aid expansion. “That external perspective really helped us recruit the right people and gave us accountability, something we didn’t have before,” Mel notes. These efforts have significantly strengthened the business.
Embracing hybrid work
The COVID-19 pandemic introduced hybrid roles, which Mel sees as a positive change. “It’s about flexibility,” she says, allowing staff to choose between office or home working, depending on their productivity. “Some people thrive in an office environment, while others are more productive working from home. It’s about finding the right balance for each person.”
Leadership and mentorship
Mel’s leadership style has evolved from a focus on strength and authority to empathy and compassion. She believes in creating an inclusive work environment, treating everyone with equal respect. “We treat everyone the same. Whether it’s supporting a woman during pregnancy or accommodating a man who needs flexibility for his football team!” she says.
When I first got into management, I thought it was all about giving directives. But over time, I’ve realised the importance of understanding each person as an individual. Leadership is not just about strength and focus; it’s about being there for your team.
Mel Richards, Director at Coversure BYB Group
Mentorship has been a key factor in her growth. Mel credits both male and female mentors with helping her navigate professional challenges. “About two years ago, Tony and I spent some time with the Network Director, Jordan Maskell. He was the first person who really flipped things on their head for us,” she shares. “He helped us focus on our goals and that was a turning point for us.” His advice helped her and Tony rethink their business strategy, leading to quicker growth.
Overcoming challenges as a woman in a male-dominated industry
Navigating the insurance industry as a woman posed significant challenges for Mel, including sexism and negative assumptions about her abilities. “Sexism was rife, and people would say I only had my job because of my looks. It was incredibly hurtful,” she recalls. However, she learned to embrace these obstacles, gaining confidence and resilience over time. “It’s not about you. It’s about their issues, not yours,” she reflects. “If I knew then what I know now, I think I would have been a real powerhouse.”
Insurance may not be rock’n’roll, but I love my job. It’s not just about being behind a desk; it’s about the impact I have on my team and the business. That’s what’s truly fulfilling.
Mel Richards, Director at Coversure BYB Group
The future of Coversure BYB Group
Looking ahead, Mel is focused on growing Coversure BYB Group into one of the largest groups within Coversure. She believes in breaking down barriers for women in insurance and encouraging more diversity at all levels of the industry. “I would like to think that a woman can bring exactly the same as what a man can bring,” she says. “Women can add so much value, and often, the strengths we bring, such as compassion and empathy, are qualities that make us better leaders.”
Mel’s leadership, passion for the industry and commitment to developing the next generation of insurance professionals, make her an inspiration. “I want to keep growing, learning and helping my team reach their full potential,” she says. With her team thriving, “the future is bright and I’m excited to see where it takes us,” she adds.
Mel encourages women entering the insurance industry to invest in themselves and seek mentorship. “Just go for it! Education and self-investment are key. Knowing your stuff inside and out will help you build credibility. Surround yourself with the right people who support you and help you grow.”
