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SM&CR - what is a Statement of Responsibility?

On 8th March 2019, the FCA published FG19/2 - Senior Managers and Certification Regime: Guidance on statements of responsibilities and Responsibilities Maps for FCA firms. Our Risk and Compliance team take a look at what a Statement of Responsibility is and the issues brokers should be considering when drafting them for their Senior Managers.  

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Is it time to make the switch to being directly authorised?

We know that one of the most important aspects of being a broker is creating invaluable relationships. We also appreciate that as an Appointed Representative (AR), the lack of independence and not being in control of how and where you can place business and risks for your clients can, over time, become a frustration.

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Charlotte's Web - My Experience at Broker Network

Towards the end of a previous work experience placement within a different company, I was introduced to the Marketing team, and to a creative, yet equally, ambitious profession that I didn’t know a lot about. I've always had a keen interest in creativity but didn’t have any idea of an area of work that would allow me to apply this, which would also keep me engaged. Following this placement, I was eager to jump back into working life, so I could learn more, and was delighted when I had the opportunity to gain some work experience at Broker Network.

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Learning Network scoops coveted British Insurance Award

Generally, people don’t quit their job, they quit their boss. Providing structured learning to your staff is critical for their retention and it helps you to grow a competitive edge when your are looking to win more new business. Which is why Broker Network created and delivered The Learning Network.

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Leading the way: who inspires you?

We asked some of our Members which individuals within the broking industry and beyond inspire them. This is what they had to say… Inspiring and educating staff “Any brokerage that is inspiring and educating their staff and growing their business is an inspiration to me, as well as those that take the time out of […]

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Review & Learn

How often have you not won a case and convinced yourself that the potential client "just didn’t understand" and that you "did all that you could"? Taking a moment to review why you won or didn’t win a case is really important. It’s too easy to blame the customer for "just not getting it" or the insurer for "I could get the price".

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Terms of Reference (TOR)

A quality TOR is the most important tool in the kitbag of the broker who is successful at winning new clients. A TOR is a document (perhaps just an email) that both parties exchange, it details exactly what each will do during the process, when they will do it and what will happen once it’s been done.

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