We spoke with Nico Spruit, Cyber Underwriter at Alta Signa, about his career journey since joining the firm fresh out of university. Starting as an Assistant Underwriter for D&O in Italy and the Netherlands, Nico quickly made his mark, building the company’s first website and later expanding into Cyber. Today, he underwrites Cyber risks across multiple regions, and continues to support Alta Signa’s digital strategy and Cyber ambitions.
You wear several hats – underwriting, Cyber strategy, even website management. How do you balance these responsibilities?
My main role is underwriting, and that’s where most of my time goes. The website is more of a legacy side project, I built the first version five months into joining, back when I was still learning insurance basics. Since I know how it works best, I’ve kept it going. As for Cyber strategy, I’ve taken on a growing support role alongside our Head of Cyber, Ingo Trede, who drives that work. I see it as part of my underwriting, not a separate task. I rely on to-do lists and self-set deadlines to stay organised. It sounds small, but being consistently dependable makes a big difference, colleagues now know me as someone who delivers on time.
What trends are you seeing in the Cyber market?
It’s overcrowded across all the regions I cover, Benelux, Eastern Europe, Turkey, Italy and Scandinavia. Too much capacity has led to major price reductions, especially since the market hasn’t seen many big losses in recent years. Year-on-year rate drops of 30% or more are common. We’re seeing some stabilisation in places like the US, but Europe hasn’t hit bottom yet. It’s a tough market, and everyone’s feeling it.
What lessons have you learned helping shape Alta Signa’s Cyber strategy?
As a fast-growing MGA, we’re more trend-followers than trend-setters. Two to three years ago, our minimum prices were much higher than they are now, but we’ve had to adjust to stay competitive. That said, we make our own pricing and portfolio decisions and are gaining more gravitas as we grow and our reputation for underwriting spreads.
Coverage-wise, features like bricking and non-IT business interruption weren’t standard before, but are now widely included, so we’ve had to respond. Looking ahead, we’d benefit from entering the primary Cyber market. But it would require enhanced servicing capabilities, so we’ll need to prepare before taking that step.
Why is a strong digital identity important for Alta Signa, and what’s next for the website?
Our digital presence is our storefront. We’re a small team spread across Europe, we can’t rely on local visibility. So a mature, clear, and compelling online identity is vital. In the future, we want to be more IT-driven in our broker and client interactions. A quoting and data-sharing platform is on the roadmap, and eventually we’d like the website to go multilingual, though that’s a longer-term goal.
How has your role evolved since 2021, and what advice would you give to young professionals?
I started as an Assistant Underwriter in D&O, then added Cyber, and now focus fully on Cyber across multiple regions. Alta Signa gave me real autonomy from day one, which allowed me to grow the way I did. My advice? Don’t overlook specialty insurance! I never considered it before joining, but underwriting blends analytics, relationship-building, travel and personal growth in a rewarding way. In terms of the substance of your work, in this sector you can choose to become a niche expert or a generalist. It’s all possible. Just start looking!
A big thank you to Nico for sharing his journey, insights, and passion for both underwriting and innovation in the Cyber market. Nico’s progression at Alta Signa highlights the opportunities available for driven, curious professionals in the specialty insurance space.
If Nico’s story has sparked your interest, we’d love to hear from you. Whether you're a recent graduate or looking to take the next step in your career, Alta Signa offers the space to grow, take initiative, and make a real impact.
Get in touch to find out more about joining our team.