Consolidators ‘struggling’ in UK regions, says chief executive
JLT Specialty is taking on the big three brokers and the consolidators in its bid to grow in the UK regions.
In an exclusive interview, JLT Specialty chief executive Martin Hiller says there is a “significant opportunity” to take business and staff from its rivals in the UK regions.
“The consolidator model is struggling,” Hiller told Insurance Times. “We see ourselves very much as an alternative platform to the consolidators or the big three outside London.”
Hiller sees the level of fee-based competition in the UK regions as evidence that the consolidators are struggling. “People are desperate to keep what they’ve got, and desperate to win business,” he says. “There are very aggressive approaches out in the regions. But that is the marketplace we are in, will respond to and be competitive in.”
The company aims to better its rivals through service. While it could be argued that a cheaper fee would be more of a draw than better service in today’s tough economic climate, JLT Specialty chairman Adrian Girling disagrees.
“I have examples where business has been lost because of a cheaper fee, and has come back because the ex-client realises he is not getting the service he was before, the service he was promised and the service he wants,” he said.
Click here to read the full interview with Hiller and Girling.
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