To support insurance professionals who wish to set up their own insurance brokerage, leading rural insurance brokers, H&H Insurance Brokers (HHIB) have launched an Appointed Representative (AR) scheme.
The AR model gives experienced insurance individuals the opportunity to start their own brokerage without the worry or expense of managing the regulation and compliance costs associated with financial services. In offering this new package, HHIB provides the AR with access to its’ own insurer partner’s products, whilst taking care of FCA regulation.
Paul Graham, Managing Director of H&H Insurance Brokers, says: “We are looking to support experienced insurance executives who are interested in setting up their own business. We are looking to appoint a small number of exclusive Appointed Representatives who share our service philosophy and want a relationship that will benefit both parties. In appointing our new ARs, we are looking for enthusiastic and committed individuals who have a good track record in the industry and a strong business plan. We can also support smaller existing brokerages who are looking for ways to reduce their compliance burden.
As an AR with H&H Insurance Brokers, your clients will always be yours and you are free to make your own distinctive mark on the insurance marketplace, secure in the knowledge that we are in the background giving you the support and guidance you need.”
One such organisation, which has recently become an AR of H&H Insurance Brokers is Carlisle based, RAW Insurance Brokers, owned and operated by Ryan Roberts and Stephen Ward, who together have over 30 years’ industry experience.
Here, Ryan explains in detail the benefits of their AR relationship with H&H Insurance: “Being an Appointed Representative means we can do the parts of the job we love such as sales and marketing, and leave the backroom stuff, such as professional indemnity and compliance, to H&H Insurance Brokers.
At this time, a number of AR providers were offering us a contract, but we chose H&H Insurance Brokers because they helped finance the purchase of my existing client base and provided access to their fantastic insurer partners’ agreements.
From day one, we have benefited from the high commission levels they receive as Premier Broker Network Members. In addition to this and most importantly, RAW 100% owns our clients, meaning that we are free to trade as we want to.
HHIB provide us with ongoing support in administration and more importantly FCA compliance. They ensure that we are operating within FCA guidelines and that all of our documentation is up to scratch. For us, this administrative support is a huge weight lifted off our minds, when we really just need to be out on the road winning business.”
Stephen Ward, joint Director of RAW Insurance Brokers, gave his advice on what candidates will need to be successful with the service:
“It is imperative that you have the drive and desire to succeed and of course, no successful candidate is ever without a detailed business plan, with a clear focus on future growth.
By working in the industry for a number of years, you will have gained a deep understanding of insurance and the markets you intend to operate in. With the right industry experience and a proven track record, you can hit the ground running.”
H&H Insurance Brokers have heritage and experience in farm and agriculture insurance, combined with strong relationships with all the key insurers and MGAs in this sector.
Paul Graham adds: “Without the ongoing responsibilities of being directly authorised with the FCA, the AR model is a popular and successful route for start-ups to take. Our ARs can concentrate on what they do best, grow their client base and build their business.
Our offer of finance is a big bonus, it can allow an AR to generate income from day one by enabling the AR to buy their own client list from their current employer. They will have access to Acturis, the UK’s leading insurance software and are covered by professional indemnity insurance.”
As an AR, you have our 100% support and guidance but at the end of the day, you are your boss. Interested? Then call today to find out how we could help you launch your new venture in just a few weeks. Contact Paul Graham, Managing Director on 01228 406310 or email Paul in complete confidence.