The Concept
TEn does what it says on the packet; it’s a Broking Services operation for ARs... the original one of its kind... and, uniquely, retains the view that holding direct clients, apart from the local pub, would represent a clear conflict of interest.
Consequently, we don't do that!
Yet, TEn broking has several features in common with:-
- a national broker
- a traditonal broker network
- a loose broker alliance
- a vague marketing group
- a provider of outsourced back-office broking/accounting, compliance, IT etc
But, the TEn AR proposition is not solely
or precisely any of the above... so what is it?
We provide the workforce and the materials
necessary to help build your business;
except for you and your clients
Defying Description
The TEn network can be described as similar to a national broker in terms of its operation and staffing; however, we are not an ‘Insurance Broker’ - we do not have direct client relationships - except through and on behalf of our customers, who are brokers.
TEn is a means by which the buying power of many new/small brokers can be aggregated and economies of scale and a more equal position achieved.
TEn does prescribe a centralised IT solution and provides a range of electronic SME products on its platform to enhance the efficiency and profitability of itself and of connected brokers, when handling the simpler classes of business.
That said, it would be wrong to leave the impression that TEn is all about SME package business, as many of our ARs have quite a few very large clients.
TEn is, definitely, a provider of outsourced back-office functions to small and start-up Insurance Brokers.
In the process, TEn necessarily becomes the entity that holds the insurer agencies and is responsible to the FSA for the regulatory compliance of its membership.
So, does TEn defy description?
No, we are a Broking Services operation and that is a thing unto itself and, therefore - to a large extent - we do rather confound comparison.