Commercial Lines Broker of the Year
This category is designed to recognise the UK brokerage setting the standard for others to follow in the commercial lines market.
This is for commercial lines brokers that can show a positive innovation for their SME/Mid-market customers and/or business partners. Innovations that have improved staff welfare and performance will also have been considered. Judges were looking for entries that could show positive improvements in financial performance such as brokerage, profit/earnings.
All the finalists are listed below. Use the links to find out more from the entrants who have answered our series of Q&As.
Addingstone Insurance Solutions LtdBollington Insurance Brokers
Clear Insurance Management
Ethos Broking
FSB Insurance Service
Global Risk Partners
Sponsored by
Clear Insurance Management
What key achievement did your entry highlight?
To continue driving our business strategy forward, we stick to three fundamental principles: • Our customers come first. Everyone at CLEAR abides by this golden rule, regardless of their role, and it represents the keystone of our client-centric approach to doing business • To deliver sustainable and profitable growth: our proven track record demonstrates this achievement, year after year • To “do the right thing” by all the parties that we engage with and to work in close partnership with all our stakeholders to achieve our mutual goals.
Can you share data or testimonials to back up your bid to win?
CLEAR began trading in 2001 with one office and eight members of staff producing £1.3m GWP and revenue of £300k. Today, we operate from 10 offices and employ 400 staff responsible for £200m GWP and £40m revenue. We also have 27 successful acquisitions to our credit. Moreover, two recent acquisitions have enabled us to offer in-house webinars to our commercial property clients on topics that directly affect them, as well as greatly expand our risk management advice and guidance service. We've also become the number one broker for 'Right of Light' insurance in the UK.
What sets your firm apart from the other shortlisted contenders?
Our clearest differentiator is not a product or a service that we offer; it's how we treat people. Guided by the principle ‘to do the right thing’ we strive to stay true to our vision and values - to remain personal and compassionate as a business and not become remote or "corporate" as we continue to grow.
This prevailing attitude governs how we recruit staff, how we acquire other businesses and underpins the overall service that we provide. Our investment, ultimately, is in our people, their talent, relationships and ambition – that’s where progress lies, not in the pursuit of short-term profits.
How will you celebrate if you are the victor?
If CLEAR were fortunate enough to be named Independent Broker of the Year or Commercial Lines Broker of the Year, our first act would be to express our enormous and heartfelt gratitude to all our clients and staff. Without their continuing loyalty and support, we couldn't hope to be among the shortlist of contenders for these prestigious awards.
Unfortunately, current circumstances must prevent us from celebrating in person if we do win. Nevertheless, a virtual glass or two will certainly be raised by all of us to toast our achievement and mark this very fortuitous occasion for our business.
Global Risk Partners
What key achievement did your entry highlight?
Last year (2019) saw the GRP make 19 acquisitions; EBITDA was up 42%, income grew by 25% to £139m, and GWP approached £800m GWP. 2019 was capped by Searchlight Capital Partners acquiring a majority stake. Many of our acquired brokers, operating via our hub and spoke model, are determinedly local, having built a strong retained book over many years. With GRP, they can provide a highly personal local service, with added firepower from an enhanced product proposition (over 100 in house products available via an intranet directory), supported by national insurer partnerships which ensure good deals for our clients.
Can you share data or testimonials to back up your bid to win?
As our director, Andrew Frey (Searchlight) said: “GRP has bult a leading market position through impressive growth. By combining local presence with deep data-driven expertise, GRP offers a better product set and a superior service to its clients. This customer centric culture is at the heart of our investment thesis.”
What sets your firm apart from the other shortlisted contenders?
Our service proposition for commercial clients has been further improved with the acquisition of an on line risk management portal in 2019. This platform was enhanced with a Covid-19 management module and provided free to all commercial clients over the first six months of the crisis. Technology is also key, and our central data warehouse delivers operational, technological and functional integration, supported by a cross-business, real time, data analytics platform.In 2019 we surveyed our client base. On likelihood to recommend, the net promoter score for GRP brokers was 58. A score over 50 is excellent.
How will you celebrate if you are the victor?
We will savour the moment, although it’s a great shame that we won’t be able to savour it at the Insurance Times awards dinner this year. I suspect we’ll have a glass or two to toast our success before we get back down to business again