TEn does what it says on the packet.
It is a Broking Services operation for ARs… the original one of its kind… and, uniquely, holds the opinion that handling direct clients, apart perhaps from our local pub and a couple of personal friends, would represent a conflict of interest.
Consequently, we don’t do that!
Yet, TEn broking has several features in common with:-
But, the TEn AR proposition is not solely or precisely any of the above… so what exactly is it?
We provide the workforce and the infrastructure necessary to build broking businesses; all except for you and your clients
Click here for the full video transcript of How to become an Independent Insurance Broker (Part 2).
The TEn network can reasonably be described as somewhat similar to a national broker, in terms of its operation and staffing. However, we are not an Insurance Broker as such, because we do not have direct client relationships - except through and on behalf of our customers, who are the real brokers in the mix.
TEn is a means by which the buying power of many new/small brokers can be aggregated, with economies of scale and a more equal trading position achieved.
TEn does prescribe a centralised IT solution and provides a range of electronic SME products with partner insurers.
On this common platform, we thereby enhance our own efficiency and profitability through automation and pass on the benefits to connected brokers, when handling these simpler classes of business.
That said, it would be wrong to leave the impression that TEn is just about SME package business, as most of our ARs have rather more large clients than they have Tradesmen, Shops and Offices.
Thus TEn is the provider of a range of outsourced back-office functions, to small and start-up Insurance Brokers.
In the process, TEn necessarily becomes the entity that holds ALL of the insurer agencies and is responsible to the FCA for the regulatory compliance of its membership, individually and as a whole.
So, does TEn defy description?
We are a Broking Services operation, meaning that we employ those personnel and departments that you probably don’t have, but which you need.
This is a particular activity unto itself and, therefore, to a large extent, we do rather confound comparison.
Please read on to understand some more of the arguments behind becoming a start-up insurance broker.