SAIF Golden Charter

Any challenge is an opportunity

Q&A with Mark Huggins, Golden Charter’s new Chair

Mark Huggins took over as Golden Charter Chair on 31 March 2023. While only in the role a couple of months, Mark has acted as a Non-Executive Director on the Golden Charter board since 2018.

Q. How are you settling in as Chair and what were your first couple of months like?

I’m really enjoying it. Those months have already seen us launch a new strategy focused on how we continue to meet customers’ needs and on driving our market presence in partnership with our funeral directors. Having been involved with the business for four years as it evolved that strategy, I have the benefit of knowing where I’m coming from and the excitement of trying to help us get us where we need to go to.

Q. How does the Golden Charter board ensure it is representative of all its stakeholders?

The Golden Charter board is unusual, and in one way more diverse than any other board I’ve sat on or been part of. Having the funeral directors, who are our shareholders, our service providers and our sales network, sitting on the board helps us understand what’s happening in the ‘real world’ of funerals.

Going forward I have a particular interest in diversity, equity and inclusion, and for me it’s about creating as broad a funnel of opportunity as possible for all of our people, regardless of background. I’ll continue focusing on that as Chair.

Q. In your opinion, what are some of the key funeral trends and challenges SAIF members need to be ready to address?

Any challenge is an opportunity. The two key trends to think carefully about are the move to digital, and consumer preferences for simple services.

Estimates are 52% of all funerals will be simple services or direct cremations by 2027. We estimate 37% of funeral plans sold last year were direct cremation. It’s a challenge as it’s not the typical service funeral directors have provided, but Independents can make it an opportunity by making it part of their offering to customers.

Digitally, it’s no surprise to see customers turning online. Every day we wake up and we’re a day older, so the population of people wanting to arrange funerals online has grown accordingly. We’ve done a lot of work at Golden Charter to provide the tools to respond. How we all use those tools, and how quickly, is a key part of our strategy.

Q. With your background in business, what advice would you give to Independents?

Fundamentally my message would be “follow the customer”. As I’ve said, consumers’ attitudes and behaviours change over time, and really good businesses anticipate those changes. In customers’ interaction with funeral directors, the products we provide and the value on offer, the customer won’t follow you: you need to follow them.

Q. Most Independents are family-run and community focused, how do the regulatory changes set Golden Charter apart from other plan providers?

Again, I think there’s a challenge and an opportunity. The conglomerates clearly have a greater ability to mandate the regulatory approach they follow. Regulatory oversight of a network of independent funeral directors is more challenging; but managed effectively, we benefit from local funeral directors who really know their consumer, offering them the right products in the right way.

Q. As an expert within regulated sectors, does regulation impact the methods through which the planning industry can innovate?

Yes – if you are of an innovative mindset. Regulation is often seen as a necessary evil, when actually if you embrace what it aims to achieve – putting the customer first – that forces you culturally to really think about what consumers want.

An obvious example of financial services innovation is Direct Line. They completely revolutionised the motor insurance market 30 years ago. And that change didn’t come because somebody woke up one day and thought “I think I’ll sell motor insurance over the telephone and then online”. It came from understanding that the way things currently worked on the high street wasn’t best for consumers. Innovation is about really understanding customers and solving their problems.

Closer to home, localfuneral.co.uk is a fantastic example of innovation. When someone has a relative die in a place they’re not familiar with, where would that person go? Generally online, where there was often nothing to tell them what the prices are or who’s in the area. localfuneral.co.uk grew by solving that problem.

Q. What are the top three results you hope to achieve for Golden Charter and its stakeholders?

One, I absolutely want to ensure the strategy and plans we’re all signed up to are delivered. Two, I want to ensure the board is an outward looking, strategically focused team of people. Three, I want Golden Charter’s people to feel both valued and appropriately challenged. If they feel able to progress, we’ll all feel the benefits.