TEn is NOT itself an Underwriting Agency; although, one day, we may perhaps operate an in-house MGA focused upon small - but challenging - types of risk.
Meanwhile, TEn is merely an Appointed Representative network targeted primarily at Insurance brokers handling a broad spectrum of clients. That said, everybody is not the same and we have embraced a range of specialist broking propositions in our time.
From Latent Defects to Environmental, from PI to PMI.
Almost anything can be considered, provided it is accompanied by a strong business plan and credible people. However, it must be something we understand and we can add value to. We are obliged to maintain a regulatory oversight of each proposition and, so, we have to be able to touch it.
Our network members falling within this Specialist category, often wholesale through other brokers, including ARs connected to the Retail side of the network.
For example, all of the network members who are not specialists in Building Warranties & Latent Defect policies, are directed towards London Belgravia Brokers, who are.
If we were being totally honest - and we do try - this not insubstantial part of TEn was not really planned or foreseen. It arose organically as a result of a demand we had not anticipated when TEn was founded.
In fact, it has all been a rather nice surprise.
Latent Defect Insurance - London Belgravia Brokers
Young Driver Insurance - MyFirst UK
Private Medical Insurance - Spitfire Brokers Ltd
Environmental Insurance - Ashfield Solutions Group
Professional Indemnity Insurance - Professional Liability Brokers
The first thing to say is that much of what you have read elsewhere, could well be different here. Particularly in terms of the division of labour.
The exception to that statement is, of course, that TEn exists to foster new insurance enterprises, be they retail or wholesale in orientation. And, whether they be schemes/binder based, or recommending standard products.
We remain an AR network, even in the context of our support of Specialist Brokers. We are open to operations that we understand and are within the capability of our systems to support.
Put bluntly, we have to understand it and it has to work on Acturis.
Clearly, this side of the operation attracts ARs whose plan may be to deal with other brokers, as much as - or more than - with end user clients. Consequently, they necessarily tend to be experts in their field and, as a result, we configure the services we offer them rather differently.
The Broking Services model of a typical Retail AR equates to the back-office support of an Account Exec. As often as not, this involves the ARs leaving much of the day-to-day insurer contact to TEn employed Broker Technicians.
This model has never and can never apply to the Specialist Broker.
Indeed, it is the confidence and trust placed in the Specialist Broker, by their ‘capacity’ providers, that is the crucial element of their business success.
It is unlikely that we would feel able to adopt two Specialist ARs, in direct and frequent competition with one another.
Also we would not take on any Specialist if we could not add some value, and/or if we knew nothing at all about the class of business or market in which they operated.
And yes, there have been one or two over the years that have baffled us.
So, if what we have covered here has struck a chord, then please contact us for a chat.
Site map coming fairly soon...
...in the New Year probably.
The site map will be an aid to navigation around our various websites. Of course, these sites have just undergone a major structural update and things are still changing.
So, it’s a bit like when a supermarket periodically shifts things around, either, just for the hell of it, or, because they have decided to squeeze in a click & collect point, where the bread used to be.
As stuff relocates, consequently, leaving the signs above the ends of the aisles as they were before, could become confusing.
Our current situation here is very similar.
Mind you, whether before or after the reorganisation, you can never find the Tahini paste. You always have to ask.