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.
TEn is an Appointed Representative network targeted at Insurance brokers, most of whom will have previously worked as normal Account Execs, looking after a broad spectrum of commercial clients.
That said, everybody is not the same and we have embraced a brroad range of specialist broking propositions in our time, from Latent Defects to Environmental and from PI to PMI. All have been based in the UK, but some have had their Wholesale offering, in addition to a Retail proposition.
Almost anything will 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 must maintain a regulatory oversight of the 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.
All of the network’s Building Warranties and Latent Defect Policies are arranged through London Belgravia, for example.
If we were being totally honest - and we do try - this not insubstantial part of TEn was not planned, but arose organically as a result of a demand we had not anticipated when TEn was founded originally. A nice surprise in fact.
Latent Defect Insurance - London Belgravia Brokers
Healthcare Professionals - Medical Professional Risk Solutions
Young Driver Insurance - MyFirst UK
Private Medical Insurance - Spitfire Brokers Ltd
Environmental Insurance - Ashfield Solutions Group
Proffessional Indemnity Insurance- Proffessional 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 young insurance enterprises, be they retail or wholesale in orientation and they be whether schemes/binder based, or recommending standard products.
We remain an AR network, even applied to our support of Specialist Brokers. Our propositionc just as frequently appeals to start-up businesses.
We are open to operations that we understand and are within the capability of our systems to support. Put bluntly, it has to work on Acturis.
Clearly, this side of the operation attracts ARs whose businesses may deal with other brokers, as much as - or even 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 slightly differently.
The Broking Services model of a typical Retail AR - equating to the support of an Account Exec function elsewhere - as often as not, involves the ARs leaving much of the day-to-day insurer contact to TEn employed Broker Technicians.
That norm hardly ever applies with the Specialist Broker. It is mostly the confidence and trust placed in the Specialist, by their ultimate ‘capacity’, that is the crucial element to 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, or if we knew nothing about the class of business or market in which they operated.
That said, if what we have said here has struck a chord, then please contact James Sharp james dot sharp at teninsurance dot co dot uk in the first instance, for an exploratory chat.