From the 1^st September 2011 until the end of the year, GWP grew by an average of 23%.  In the first four months of 2012, this trend has continued with a further 26% increase.  In March 2012, the network recorded its best month ever, with GWP in excess of £2.1m.

Comments TEn director James Sharp, “In this economic climate, it is best to be cautious about short bursts of growth in one month or one quarter; hence we kept quiet about our strong ending to 2011.  Frankly, over the eight months prior to last September, we contracted slightly in every month except one and the fact that we grew at all in 2011, was all down to the last four months. 

However, since then, it has been nothing but good news and we do not foresee that changing any time soon.  Our GWP, indeed our whole business, entirely depends upon the combined success of our members. Individually and collectively they are getting steadily stonger.

We have no direct clients of our own… except our local pub, my wife’s company and a sailing-buddy, Phil.  Nor shall we ever have any more than this, because we believe that a network should be entirely focused upon it members; and not distracted by its directly owned , or, semi-connected broking businesses.”

The history of TEn membership in Scotland stems from April 2006 when the first two Scottish brokers joined, followed by one more in September 2007.  From then until the latter months of 2011 there were relatively few enquiries from the region and the number of ARs did not grow until three more were added in almost as many weeks.

In 2012 the interest from Scotland has continued, with one more starting in April and another definitely following in June.

Comments TEn director James Sharp, “After a relatively quiet period over a number of years, Scotland is becoming one of our more active areas in terms of interest.  Long may this continue.”

So far in 2012, three staff all aged under 25 have attained CERT CII status and four more have passed one or two modules on their way to gaining CERT before end of the year; or considerably earlier.  The plan is that everybody who has passed CERT will continue on to tackle the DIP CII as their next step. 

Meanwhile, older and more experienced members of the team are being encouraged to complete and/or enhance the qualifications they have achieved prior to joining TEn.

Comments TEn director James Sharp, “We have always wanted TEn to be a professional, long-term and sustainable business; consequently, we necessarily must invest in the development of everybody we employ, because they are our future and the future leaders of the company in 10-15 years’ time.

The short-medium objective is to achieve Chartered Status later this year, although, that said, the gaining of qualifications amongst the younger generation will help us to keep it when some of the 'oldies' have retired.”

The conference this year was held across three days in central London at the Grange City Hotel.  Insurer representatives from across its panel and TEn’s members together raised £550 from a raffle in support of RSA Manchester, who are raising much needed funds for various local charities. 

A further £1,000 was raised for the Insurance Charities (CII) from the gala dinner charity auction. The Insurance Charities gives vital financial and practical support to past and present employees of the insurance industry, and their dependent relatives, who are suffering financial hardship.

James Sharp, Business Development Director at TEn Insurance comments: “We’ve had an excellent conference this year and raising this amount for charity was the cherry on the icing.” 

The majority of TEn’s 70 members attended the three day Conference; attendance is an important aspect of TEn’s commitment to maintaining professional standards as well as an excellent opportunity to network with partner insurers.  TEn arranged a line up of speakers from experts across various functions including sales and marketing to offer advice and support to its members.  It also had an exhibition and presentations from all the insurers currently on its panel. 

James Sharp concludes: “Co-operation lies at the heart of the TEn Insurance proposition.  It’s essential that we consult with our members and that they have a stake in the way in which TEn is managed and run and a stake in its resulting success.  The annual conference has become a permanent fixture in the calendar that brings us all together to provide the perfect open forum for collaboration.  We are an AR network run exclusively for its members.

Comments TEn director James Sharp, "Although we started the year with 50 members, during these difficult economic times we have seen about 10% of that original number fall by the wayside during the course of the year, typically to seek employment again.  I fear that 2012 will not prove any kinder to some, but for others, the impetus to go it alone and opportunities to succeed are still there.

Consequently, we have actually added 25 and reached our target of 70 brokers just in time for Christmas.  Phew!"

Comments TEn director James Sharp, "We reached 50 members back in early 2009.  During the rest of 2009 and 2010 the recession forced a number of earlier start-ups to seek employment once again, meanwhile a handful of others grew beyond our AR model to become directly authorised brokers. Consequently, the overall membership number did not grow at all throughout the period, although a steady number of new brokers continued to join during this time.  

By way of a contrast and right from the outset, 2011 has seen a marked surge in interest and signings, whilst the departures - for whatever reason - have subsided to a handful.  This trend makes us completely confident that we shall reach our target of 70 members by the end of the year."

Amongst the recent recruits to the TEn network are three new brokers in Scotland, which doubles the company's precence north of the border.

Whilst TEn has always been a member of the IIB, the addition of BIBA membership reflects its support for both trade associations in their struggle to gain a 'fair deal' for brokers in respect of FSCS compensation scheme levies.  It is also indicative of the growing maturity of the TEn network and its member brokers.

Comments TEn director James Sharp, "Although we are primarily known as the network for start-up brokers, the reality is that the majority are now maturing to the point that they are now looking to us to provide network benefits beyond those that simply enable them to establish an independent existence.

Gaining for them the ability to associate themselves with either the IIB or BIBA or both - at no additional cost - has been warmly welcomed."



The conference covered such topics as new or improved deals/binders from insurers, proposed new working methods, technology, marketing assistance and - for the first time - a closed session for the membership to discuss amongst themselves the pros and cons of the TEn offering and what things they would like to see changed or improved.  This innovation was particularly appreciated.  

Comments TEn director James Sharp, "I think that we have, at the fourth attempt, finally hit upon the right venue and the right format, with a closed session and an insurer marketplace outside of the conference room itself.  This year the conference date chose itself, because we simply had to go for the weekend including the 10th of the 10th of the 10th.

Contending for the title, Network Broker of the Year, BLG was established in second half 2006 by the three Directors; all former employees of one of the large consolidators.  The firm was founded with a view to offering an independent and niche service – initially in respect of Latent Defects and Environmental Impairment Insurance - within the insurance, construction and finance markets.

Comments TEn director James Sharp, “BLG has been a member the TEn network from the outset and, it is fair to say, that without our assistance it would have been a much harder, longer and more expensive process for the start-up business to become established.  Also, BLG has been able effectively to outsource to TEn some essential back office functions that it otherwise would have needed to cope with in-house from day one; to the detriment of seeking out and handling new clients and new opportunities.”

As a broker specialising in insurances that depend almost entirely upon new commercial and residential property developments, BLG could hardly have chosen a worse time to set up in business.  Nevertheless, the business model has proven itself robust enough to thrive even in the worst conditions prevailing for 75 years. Despite the recession, BLG has grown year on year and goes from strength to strength.

According to BLG director James Russell, "When looking at establishing a brand new brokerage, we made the decision to partner with TEn as this appeared to provide everything that we needed. That decision has proven to be the right one for BLG; and our recognition in the UK Broker Awards bears this out."

TEn was first launched in February 2005 and has operated it initial network model successfully for five years.  The company now feels that the time is now approaching when other options should be added, both to broaden its appeal and to provide growing room for some if its earlier start-up broker.

Comments TEn director James Sharp, "In terms of a proposition for a new broker setting up, often coming out of an employee position with a larger broker, our current model works very well and always will.  Equally for the established member who has achieved a certain size of operation and seeks only to maintain it and/or never wants to become an employer, then the same applies.

However, it is not surprising after five years that we have nurtured a handfull of operations that have grown and whose aspirations for the future differ from the rest.  This is a rising demand that we have to accomodate from within the ranks of our ARs and, whilst we are doing that, we might well devise a solution that appeals to some established brokers and members of other networks."

TEn expects to make further announcements on this matter towards the end of the summer or in early autumn 2010.

John first joined TEn towards the end of 2008 and has since been primarily responsible for the founding and successful development of its in-house premium finance company, TEn Premium Finance Ltd (TPF).  He had spent the previous four years with Aascent Finance Co in a business development role. 

John’s insurance career stretches back to 1973 when he commenced work for the Provincial Insurance Company in various sales and underwriting positions.  By 1989 he had progressed to become a branch manager in North London, The City and ultimately in Reading, at which point his employer had become Axa Insurance.

In the interim between Axa and Aascent, John was involved in the launch of an Underwriting agency, and a new foreign entrant, developing insurer relationships and establishing schemes and binders.  At TEn, John now becomes responsible for managing the continued operational growth of the company on a day-to-day basis.

Comments TEn director James Sharp, “Over the past 15 months John has accomplished great things with TPF in a very short time and earned the respect of all staff and network members during the process.  We know that he will make an excellent job of the role of Operations Director.”

Following the retirement of former Managing Director Kedric Rhodes, Malcolm Lee, previously responsible for Operations, now becomes Managing Director.

Having first opened in the city at the beginning of January, TEn has developed a broker support team of three people, under the leadership of Regional Manager, Dawn Derbyshire.  This office now supports many of TEn's northern brokers.

According to TEn director James Sharp, "Continued expansion across the country, the migration of northern brokers from Aylesbury to Manchester and the number of prospective members lined up for the north; all of this means that we shall be increasing our headcount in Manchester during 2010.  Consequently a larger office is an essential prerequisite."

Launched in February 2005, TEn has grown by an average of - or a fraction over - one new member per month thereafter.

Comments TEn director James Sharp, “From the very earliest days, the growth of TEn has been generally steady and consistent, althoug we soon realised that the first couple months into a New Year is always a busy time.2009 has been no exception, with five new members added in January alone.

All of the indications are that this year may see us picking up the pace a little... or more than a little. We have always attracted membership from Account Execs somehow disenfranchised by the process of consolidation. Now, although there is a lot less buying going on in the industry, there are quite a few rationalisations going on that also help our cause."

TEn, having recently opened a Manchester office, expects to handle the increasing demand for its services relatively easily.

Due to our continued growth over the past few months and in anticipation of this trend continuing through 2009 and beyond, TEn will be opening an office in Manchester from the beginning of January; complete with its own broking team. To this end, we have been joined by Dawn Derbyshire (formerly with Holmans and HML Marketing), as Regional Manager for the Manchester office.

The office will be located in the city centre in Oxford Street and will, by Easter, accommodate a broking team of three or four Broker Technicians. New network members in the area will be supported by this team and up to 10 existing ‘local’ brokers will be redirected to Manchester from one or other of the existing Aylesbury teams, over the course of the summer. In 2010, we would expect the Manchester office to double again.

Comments TEn director James Sharp, “When we wrote our original business plan in 2004, we anticipated the opening of regional offices from 2008 onwards, but mainly because we doubted our ability to find sufficient qualified staff in Aylesbury in the longer term. As it turns out, we did rather better staffing our head office than we expected, but there are other good reasons for regional offices.

Although the TEn concept fully supports remote working ARs, we have found that those based within 50 miles of Aylesbury obviously find it much easier to have more face to face contact with their specific support team and that makes for a measurably enhanced working relationship. Our aim is, therefore, to get closer to more of our network members and this suggests 6 or 7 more regional centres in due course.”