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Member of the Month – Akhil Chaudhry, Jaggi & Co Ltd

“Broker Network BDM Nigel Morrish really put the proverbial money where his mouth is; we had some issues with an insurer, and he made those issues go away.” These are the words of Akhil Chaudhry, Director at Jaggi & Co Ltd, who have recently upgraded from being a Connect Member to become a Premier Member.

And, the brokerage has already placed £1m worth of business since upgrading on 1st August.

We’ve always been anti-network, but Broker Network doesn’t stand on our heads on a day-to-day basis. They empower us to focus on what we’re good at, which is supporting our clients.”

BDM Nigel has known Jagdish Chaudhry, the founder of Jaggi & Co Ltd, for 30 years. He was driving by their office in Isleworth, West London, one day and called in to see if the Network could help the business. “He enlightened us as to all the various service offerings that Broker Network have,” explains Akhil. “I very much want to embrace the Broker Network way. I think if you don’t embrace it, you can’t benefit from all of the features.

“We’ve always been anti-network, but Broker Network doesn’t stand on our heads on a day-to-day basis. They empower us to focus on what we’re good at, which is supporting our clients. By taking away a lot of the admin, we can get on and do business.

“There isn’t a service that Broker Network has left out. Having tested the services out now, everything we’ve been told so far does what it says on the tin.”

“Since the official upgrade, we’ve placed £1m worth of business that we wouldn’t have been able to do so easily, if at all, without Broker Network’s support and relationships with insurers and markets.”

By becoming Premier Members, Jaggi & Co Ltd have placed business via our Placement Support team, sister company Compass London Markets (CLM) and through striking up a working relationship with Insurer Partner Bishopsgate. This has allowed the team to place some “very chunky bits of business”.

“Since the official upgrade, we’ve placed £1m worth of business that we wouldn’t have been able to do so easily, if at all, without Broker Network’s support and relationships with insurers and markets. We simply didn’t have access to those markets before becoming a Premier Member,” says Akhil.

“What CLM did was open doors to a market that we never had access to previously. That market was absolutely ideal for this client; the two were made for each other.”

It was access to the CLM team in particular that helped Jaggi & Co secure a particularly large haulage case with a premium of £701k. Akhil explains, “It was a piece of business that we’ve been after for the last four to five years, as the client was not happy with their current broker and wanted to move. However, when we approached markets, they weren’t able to place the case, or it didn’t fit with their business profile.

“What CLM did was open doors to a market that we never had access to previously. That market was absolutely ideal for this client; the two were made for each other. It is a specialist haulage fleet and the provider made commitments early doors and carried out interviews with the client beforehand to find out what telematics they had and how they analysed them, as well as how they dealt with errant drivers. It was a really solid, professional approach, which CLM facilitated.”

For the next three to six months, Akhil says he has three main priorities; the first being retaining and renewing as much business as they can with their existing client base. The second is ensuring all the Jaggi & Co Ltd team members feel confident and happy in their work, whether they are based in the office or are working from home, and his third priority is winning new business. When asked whether he feels Broker Network can help him reach those goals, Akhil’s response is “very much so”.

He adds, “What I would say to brokers who are not part of the Network is ‘you must explore the Broker Network offering’. Connect Membership is great if access to products is all you want, but for us now Premier Membership makes sense, it pays for itself in my opinion.”

It has been Broker Network’s model of offering everything in-house for Members that has been refreshing for Jaggi & Co Ltd.

Akhil explains, “My experience of other networks has been that they say they have specific departments, but they are often outsourced and there is no gelling with the Network. When we’ve spoken to the Broker Network Compliance Helpdesk, they’ve been able to answer our questions very quickly as they have a working rapport with our specific Risk and Compliance Consultant. If I’d rung a network where the compliance service was a third-party, the two wouldn’t marry up. We will soon be having a file audit and I have no reason to doubt, based on what we’ve seen so far, that it will be to the highest standard.

“All of the team here Jaggi & Co Ltd are really on board with the journey of us becoming Premier Members. It really feels like we are part of a family. All our staff are tapping into the different facilities that Broker Network offers, from placing business via the Placement team to working on Compliance or Client Money.”

“Going forward, I think it will only be safety in numbers. That’s where being part of Broker Network comes in; they unlock relationships with insurers, fellow brokers and complex markets.”   

Akhil concludes, “I think the general insurance marketplace is changing, it feels as if now ‘big is beautiful’. Three or four years ago, I might have said that we’d look at ourselves as being a medium sized broker. However, what has been abundantly clear to me in the last few years is that insurance definitions have changed. Insurers are reducing their footprints and the services that they’re giving to brokers. Going forward, I think it will only be safety in numbers. That’s where being part of Broker Network comes in; they unlock relationships with insurers, fellow brokers and complex markets.” 

 

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