The Services: How to become an Appointed Representative with the TEn Broker Network

ARs, Practices, Brokers and Members

To synchronise your understanding and our terminology, we may variously refer to those who join TEn either as ARs, Practices, Brokers or Members depending upon what sounds best at the time.

Using the words Practice or Practitioner does not suggest that the term ‘broker’ is no longer appropriate in our model. It is simply that ‘broker’ can be ambiguous as between the person and the Practice.

Our dilemma is that we don’t much like the term Appointed Representative (or AR), as this tends to conjure an image of driving around the countryside with a boot full of sample hair-care products.

There is, alas, little we can do about that, although we are thinking about campaigning for the Australian interpretation of AR; this being Authorised Representative, which sounds so much better.

In truth, as our membership have their own corporate identities, mostly along the lines of XYZ Insurance Brokers Ltd, the ‘AR thing’ is not really ever noticed or remarked upon by the clients.

Rule number 1

The clients of each broker belong to that broker

Nobody else, not ever

So, there are no restrictions upon departure other than reasonably assured payments of any and all outstanding premiums

The Rules

Practice Clients

Rule #1: the clients of a Broker belong to that Broker, NOBODY ELSE, NOT EVER.

A Broking Services operation does not deal directly with end-user clients, except insofar as such contact is in furtherance of a broking service - an accounts query for example - “for and on behalf of” a Practice.

Insurer Agencies

TEn broking holds agencies with insurers and ARs do not. From an insurer’s stand-point, they see only one agency and, thereby, they benefit by simplification and efficiency in return for agreed service levels and enhanced terms of trade.

FCA Compliance

TEn insurance is the entity that is regulated by the FCA and the Practices are regulated in turn by us; as Appointed Representatives (ARs).

Consequently, we take very seriously the compliant operation of our members; because we would get the blame if anything were to go wrong.

The TEn/Practice Relationship

TEn regards Appointed Representatives as both customers of an ‘outsourced services provider’ and constituents within a regulated broker network.

Thereby, TEn is accepting responsibility for the compliant operation of the whole community, whilst being equally responsible to that same community as both a mentor and a supplier. Everybody happy!