Youi appoints Brisbane-based CIO

21 March 2023

Youi has appointed Steve Nichols to the role of CIO, saying his experience leading digital transformation projects in major companies and start-up environments will be invaluable in Australia’s competitive insurance market.

Brisbane-based Mr Nichols has been CIO at Shell Energy Australia for two years, and formerly held roles at Telstra, NBN Co and ERM Power, specialising in digital, marketing, strategy, data and analytics and business operations.

Youi is a growing, agile business, he says, that is “supportive of pursuing technology and digital solutions that are developed through the eye of customer”.

“I am looking forward to joining,” Mr Nichols said.

Incoming CEO Nathaniel Simpson, who takes over the top job in July from Hugo Schreuder, says the appointment is critical for Youi.

“In Australia’s competitive insurance market, a challenger like Youi has to be extremely smart about how we use technology and digital solutions to underpin core functions in our business, as well as to make it easier for our customers to interact with us,” he said.

Sunshine Coast-based Mr Simpson has worked at Youi and its South Africa-based parent company Outsurance Group for 17 years.

Mr Schreuder was Youi’s founding CEO in 2008 after joining Outsurance in 2003. He was appointed to the board of the Insurance Council of Australia in December and moves to the Youi board from next year.

Youi’s Australian business posted a 39% fall in operating profit to $57 million in the last financial year on higher catastrophe claims and a change in reinsurance arrangements.