Start-Up Brokers

In this section:

The Journey

The Journey

the network for start-up & small established brokers… …was born from the belief that Insurance Brokers, especially those operating as small local businesses, were in origin a peculiarly British phenomenon and it would be a shame to stand by and watch, as their numbers here decline. For want of a re-inventive idea. An industry that militates against start-ups, as ours does today, is one that is doomed to stagnation and ultimate extinction. In 1971, a founder of TEn, Kedric Rhodes, ran his business…

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The Fundamentals

the definitions Just to synchronise your understanding and our terminology here, we may variously refer to those who join TEn, either as ARs, Practices, Brokers or Members, depending upon what happens to sound better at the time. Our real dilemma is that we don’t much care for the term Appointed Representative (or AR), as this tends to conjure an image of somebody driving around the countryside with a car boot full of sample hair-care and/or deodorising products. There is, alas, little we can do…

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The Operation

The purpose of this page is to provide prospective AR applicants with an overview of the detail, regarding the workings of the TEn AR Network. It does not cover absolutely every aspect of it. You will find out lots more in our Start-Up Guide, which covers the real nitty-gritty, once you have made a decision in principle to move forward and join us. The client relationships In any typical broker, the client relationships are handled by variously titled people, called Account Executives or Business…

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The System

The Overview The detail about hardware, software and broadband connectivity can be, either, a total turn-off, or a matter of very keen interest to different brokers. Consequently, it may be enough for you to know that the TEn back-office system from Acturis features the following: - it all comes pre-configured and exists in the Cloud we train you how to use it as we prescribe it to be used there is a monthly charge per seat including VAT there is a wealth of MI available via a portal periodic upgrades…

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The Deal £

The basis of the deal £ is always a percentage of brokerage shared between the AR and TEn. NOTE: We define brokerage as Commission + Fees - Discount = Margin We use a formula that incorporates a host of subtle variations, taking into account AR differences. This calculation looks at income size, average premium size, anticipated workload, proficiency in terms of Insurance and IT usage, plus other factors. Then, once you have understood and considered our formula, we can haggle a bit. It would be…

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