UK finalist 2020 

Lucy Woods

CEO, Accident Exchange Ltd

Lucy Wood

An experienced CEO, Lucy specialises in managing businesses with substantial turnaround requirements back to profitability. She has led a range of organisations through complex and difficult transformations and has delivered significant financial turnarounds and positive outcomes for shareholders, staff and customers. 

After joining Accident Exchange group (“AX”) in 2016, Lucy completed a complex financial restructuring and is now leading the recovery of the business. The business offers the delivery of accident management services such as credit hire and credit repair and provides drivers with replacement cars when they have been involved in a “non-fault” accident, taking care of the claim on behalf of the driver. AX also offer tracking and covert telematics and day insurance. 

In addition to a focus on cash flow and efficiency, Lucy was keen to inspire innovation and to find new ways for the business to develop, learn and grow. Starting with customer research that informed a new brand identity and clarified true values that resonated with customers and colleagues, AX then moved forward with innovation workshops, modern management development, and challenged itself to improve product development and sales performance.  New service standards were introduced that not only resonate with AX values and strategy but have opened up market opportunities. 

AX has achieved substantial growth over the past three years, both in revenue and profitability.  Keen to do their part for the environment and as part of their future focussed outlook, they are rapidly introducing electric cars and charging infrastructure to the fleet and depots, as well as equipping senior management with electric cars for hands on experience of tomorrow.  

Lucy is a currently also a non-executive director for Newrotex (Nerve Regeneration) and Shared Access (Mobile Towers). Previously she served on the Patten Commission for Policing of Northern Ireland, as a non-executive for Digiweb Holdings (Ireland) and as Chair of the Institute of Telecoms Professionals.