Twelve reasons to join our Network
January - The Network pays out over £1m to Members for profit share performance in 2010
February - The Broker Support Desk exceeds 3,500 queries from Network Members in the last 12 months; more than in any previous year
March - The number of Partner Insurer products launched in the last 12 months reaches a high of 20
April - Compliance introduces a FSA-style Audit that covers seven key areas: financial, management systems and controls, sales and administration, training and competence, financial crime and licensing, complaints and third party relationships. For the first time the audit also included a Client Money assessment for Members who hold their own client accounts
“All in all, I think the new audit procedure is beneficial to us as Members as it has made us realise the preparation involved and documentation required should we ever have to participate in a regulatory visit.” Langley Insurance Agents
May - Broker Network Underwriting launches its eighth exclusive product to Members, bringing the total to 17
June - The number of new markets to be introduced with bespoke Network deals in the last 12 months reaches a new high of six
July - Smarter Broking Workshops proved so successful in late 2010, further dates were added throughout 2011. The technical workshops provide vital knowledge on improving submission quality, in-depth training on the role of the commercial account handler, getting the best from clients and insurers, main types of risk affecting commercial insurance, and the importance of submission quality in winning business.
August - The latest Member Satisfaction Survey results are taken. They show a staggering 98% of our existing Members are satisfied with their Membership. Compliance is the most highly-rated service with 97% of Members rating it as good or excellent
September - In the third quarter of 2011, the Broker Support Desk logged 1088 Member calls; almost 50% were for market information
October - After the phenomenal success of the Network Trading Room with higher-tier Members, we introduced its services to an even wider audience
November - Business Development Managers (BDM) visited our Members over 2,400 times throughout the year. Notably, the BDMs worked with Members to analyse over 350 Insurer placement profiles in order to maximise their income
December - The Network Trading Room (NTR) has written over 1500 cases and has passed the £7m GWP mark. Inside the NTR Members achieve a quotation rate of over 70% and a net conversion rate of over 30%. Where Members hold the business, the NTR secures a third of their retained clients, and where Members are attacking the business, the NTR secures around two thirds of the cases they win.
2012 looks set to be another year filled with success both for the Network and its Members - make a real difference to your business and become part of the UK’s largest insurance Network.
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