After joining Broker Network in the summer of 2020, David Trodd, Commercial Account Executive at GBS Insurance Services, says the brokerage has already been able to grow its book of business.
His message to other brokers? “If you’re a smaller broker that wants to grow and is forward thinking, Broker Network is the perfect fit.”
Traditionally a reinsurance firm, David joined the brokerage 15 months ago to develop the commercial side of the business, bringing with him 30 years’ experience in the industry. And, joining the Network in July 2020 has allowed David and the GBS Insurance Services team to tap into markets and create relationships with insurers that they previously didn’t have access to.
After David had difficulty in finding cover for one particular client, a pasta manufacturer and distributer with composite panels, he turned to the Network’s Placement Support team, who helped him secure a £20K GWP premium for the customer. David explains, “This was a client who had been referred to us by an accountant whose PI cover we’d secured. The company was struggling to find cover as a result of Brexit. Their parent company is in Germany and Denmark and their insurance cover was usually covered by the group, however, because of Brexit they were told they needed to find their own policy.
“I had gone to the market and tried to find cover for the client, but I kept getting no’s or they couldn’t insure the full risk. After two months of trying, I decided to contact the Placement team to see if they could help. Placement were able persuade Ageas to reconsider the case on our behalf and after relooking at it, Ageas said they would insure the risk, which was a fantastic result for the client and for us.
“I think it is the weight and connections that Broker Network has that is really valuable. As a smaller broker, I now know we are part of a larger group which has more influence over insurers.”
David has found many of the other Broker Network Services to be extremely helpful as well, including HR Consultancy, Risk & Compliance Management and the Network’s MGA, BNU. “I can always get through to anyone at Broker Network if I need anything; even if they’re not available straight away, they will always come back to me. One of the reasons why I think it is so accessible is because they keep all the departments within the Network,” he says.
David told us that GBS Insurance Services doubled its GWP in 2020, through a mixture of the brokerage’s outreach at Chamber of Commerce meetings, finding new business, as well as David’s existing, loyal clients following him in his new venture. He said the team is on track to grow at the same level for 2021, all with Broker Network’s support behind them.
“We have plans to grow the team this year, which I’m excited about. In the meantime, until we take on new members of staff, I know the Network’s Compliance team can assist us with the regulatory admin and the Placement and BNU team are there to help us place risks for our clients.”
In 2020, our Placement team placed a sensational £1.8M GWP over 330 policies for Members; our Risk & Compliance Management team helped Members with more than 3,000 queries; and BNU saw a growth of 8% with over £16m GWP. Our dedicated experts are ready to help Members this year and beyond. If you’re not a Member and would like to discuss joining Broker Network, please get in touch.