Independent Broker of the Year
This category seeks to recognise standard setting, independent regional brokers and celebrate outstanding achievement.
Judges were looking for evidence of entrepreneurial nous, along with a successful track record across the business – with partners, employees, or clients. Entrants were asked to demonstrate clearly defined success indicators, including business growth.
All the finalists are listed below. Use the links to find out more from the entrants who have answered our series of Q&As.
GOLD: Romero Insurance Brokers
SILVER: Texel Finance
BRONZE: Ascend Broking Group
BHIB Insurance Brokers
Clear Insurance Management
Hayes Parsons Insurance Brokers
Konsileo
Sponsored by
BHIB Insurance Brokers
What key achievement did your entry highlight?
As BHIB, last year we had the best financial year of all time. Our key achievement was acquiring a multi-million-pound-book of "affinities/SME" business from a national broker and employing a specialist team in Leicester. This included becoming the official insurance partner to the National Association of Local Councils (the national body representing 10,000 councils). We have become a top three in the country specialist broker for Local Councils. Our growth in the not-for-profit sector has been excellent – we have had consistently high retention rates and strong new business growth due to the technological efficiencies within our in-house technology firm.
Can you share data or testimonials to back up your bid to win?
"When we approached BHIB, we felt all our doors were closed. Our claim was in limbo and we were unsure of where to turn. However, within 48 hours of getting in touch with the team at BHIB, our claim was well on the way to being settled, and we had a more comprehensive programme of cover in place – I can't thank them enough." – Mo Bros (client).
What sets your firm apart from the other shortlisted contenders?
Becoming the first UK commercial insurance broker to be using Applied Epic – a Google-backed back-end policy management system. We've recently won a Global Pinnacle Award, which saw BHIB collect this award in front of 4,500 people in the USA in October 2019, which is a huge achievement for a regional Independent UK insurance broker. Growing from a standing start in 2017 with our councils insurance brand to now being a top three specialist in the country. Our investment is continuing to grow – we have hired an in-house design agency to develop our online offering.
How will you celebrate if you are the victor?
This win would be more than just a trophy for us. This renowned award will give our wider business customers even more confidence they have made the right insurance decision. This will reinforce our insurer relationships and partner relationships with Applied, NALC and others. This would certainly boost morale to the teams who work tirelessly serving our clients. As this year celebrates 10 years since our MBO, the business is rewarding staff with free extra holidays and financial incentives, this would be an excellent icing on the cake to a phenomenal year.
Clear Insurance Management
What key achievement did your entry highlight?
Completing on 25 successful acquisitions since Clear began in 2001, with more to follow. We now handle over £135m in premiums and have a staff headcount of 260. Meanwhile we continue to pursue suitable candidates for purchase. The company also continues to defy prevailing market conditions with sustained organic growth. Building on our proven track record of successful acquisitions remains central to CLEAR'S growth strategy. Completing a successful acquisition, however, isn't just about finding the best fit for our ambitions and securing that business. It's also about the sympathetic and effective onboarding of its incoming staff.
Can you share data or testimonials to back up your bid to win?
The business put in a strong performance against budget last year, outpacing expectations with income growth reaching 24% – up 8% against an income target of 16%. Profit growth also exceeded forecast, closing at 38% against a budget target of 31%. In addition, we achieved another strong annual renewal rate, reaching 93% overall by year-end. This stands as a testament to our staff's focus on providing first-class customer care and their commitment to the business. This commitment is reflected in the five-star reviews we frequently receive through Trustpilot, and why 98% of Trustpilot respondents describe our service as 'great' or 'excellent'.
What sets your firm apart from the other shortlisted contenders?
From our modest beginnings in a small office in south west London, CLEAR now operates from six regional branches, specialising in insurance for a wide range of businesses, large and small. We are a leading member of Brokerbility and hold Chartered Insurance Broker status. Our M&A strategy is designed to be different – we offer a long term succession plan to brokers who care about their clients and their staff. Making sure we ''do the right thing'' is about living our values and treating everyone with respect. That permeates how we deal with our staff and our insurers.
How will you celebrate if you are the victor?
Our success is built upon relationships, and focus on providing first-class customer care, the dedication of our staff, their engagement, job satisfaction and morale are the necessary ingredients to accelerate our plan for growth. If we are chosen to be an award winner, we will share our success with all our staff, no doubt this will involve a glass or two of bubbly – but at the awards ceremony we'll party long into the night.
Konsileo
What key achievement did your entry highlight?
Konsileo was founded on the vision of a new model for a 21st Century advice-based brokerage. That dream is now a reality as over the course of the past 18 months we have established ourselves as a fully-regulated, trading, commercial insurance brokerage unlike any other. We are not a traditional brokerage, but one founded on a community of experienced brokers working together to deliver expert advice to clients, supported and enabled by the very latest technology – designed and built from scratch. Konsileo is no longer a vision and aspiration, but a growing digitally-empowered commercial broker.
Can you share data or testimonials to back up your bid to win?
"Daniel Cotgrove, Konsileo's client director in Kent, is a real shining example of a broker. Listening to everything we wanted, he put together a package that not only suited our needs but gave us extra protections we didn't know about." David Gardner, director, Wickham Diggers.
What sets your firm apart from the other shortlisted contenders?
Konsileo has developed a profitable commercial broking model fit for the future built around efficiency, professionalism, collaboration and client service. Our view was that the consolidation model of broking was ripe for disruption, with too much of the wealth created from broking ending up with corporate managers, not the brokers who advise clients; and too much of that wealth derived from commission uplifts. We have created a company that better rewards brokers and supports them through an entirely new organisational structure and technology. No other broker has done this.
How will you celebrate if you are the victor?
We will celebrate with the whole Konsileo team having an Insurance Times Award selfie competition and we will be happy to share the photos with you.