Broker targets consolidators as it eyes expansion

A small regional broker has reported a £1.6m growth in premium income after winning business from consolidators and larger brokers.

The four-year-old firm, Amicus Insurance Solutions, now controls about £5.4m in gross written premium - up 42% from £3.8m at the end of 2013. By January 2016 it expects to control £7m GWP.

The growth has also allowed the company to boost its commission income to £860,000 from £650,000, and this is predicted to reach £1.5m by January 2016.

The Croydon-based broker specialises in manufacturing, construction, aviation, motor and food processing.

It recently opened its second office in Birmingham and plans to open a third in Manchester within the next six months. Staff numbers have also nearly doubled from eight to 14.

Co-founder Adam Scott said new clients were turning to Amicus because it offers a more personalised service than the larger national brokers and consolidators.

“I think they have just got complacent because they are so big; but us - we are a bit more aggressive and hungry and will give a personal service,” he said.

“We manage the clients’ expectations, we do quarterly visits and we are in their face all the time. New clients like the fact that we are proactive and that we are always contacting them.”

Investment in claims

Scott said the broker’s increased focus in managing claims for clients has contributed to high client retention rates of 95%. The broker has also taken on more staff to handle claims.

“So rather than being a post box we are more hands on with the claims from start to finish. What people want is for someone to speak to them and guide them through it, especially if it is a large claim,” he added.

“At the end of the day we are acting for the client so it is quite important and claims is where you show your worth.”