Hello neighbour .
Well hello there, we've decided to dedicate a little section of our little website to saying hi to our neighbours, whether you're a neighbour from a big house or a little one on the same street as us... Hi!
Being in the sector for so long, we know there's a lot of tension between different firms with the giant companies coming after the little ones, the little ones nipping at each other, and those who shall not be named smacking us all.
We're trying to break the trend, and the first step was getting investors that are not from the Insurance sector. The second was networking with what would be classed as 'competitor' firms. You know what we found when networking? 90% of the people we spoke to are just normal. Normal business owners all struggling to sell in an incredibly competitive market, some of which have taken steps to expand their market into different countries, some who are expanding their product range but most if not all the companies we've spoken to, they all have an exit strategy.
So we figure, instead of being the grumpy neighbour that calls the local council about noise complaints, we're going to take the fresh approach of networking, supporting with creative ideas and being ready for when our neighbour sells their house.
Don't be a stranger!
We're all in the same boat ... Your boats just probably bigger!
But in all seriousness, members of our board have been in insurance for a long time, we unanimously took the approach that competition is good, while we know there are many small (and large) insurance companies that are threatened by success, we congratulate it.
Are we for sale?
Not yet, but that's good for you, and here's why!
Our aim is to expand over the next 6-year period, combining traditional marketing routes with the acquisition of smaller firms that are looking to exit. We'll build a strong book of customers buying a range of policies, from a range of brands.
The intention is to build a centralised and highly automated fintech insurance company, built on algorithmic decision-making, Artificial Intelligent FNOL Support, and a very flexible/modular CRM. With systems that can house as many segregated brands, selling as many different products as it needs.
So let us do the hard work for now, then let's talk about our exit strategy later... We'll buy and combine some of the smaller books, you buy us once we're done... could be a relationship made in heaven.
Want to meet us?
Well don't be shy, you don't need to spend your days lurking on Linkedin & Google to find out what we're doing, lets have a coffee.
We go to regular insurance, marketing and networking conferences... so get in touch and let us know which ones you'll be going to.
Are you a little hesitant about meeting a competitor? We understand, you've probably had runnings with some in the past. To put your mind at ease, we've helped other firms with various regulatory issues and the reason is one that we've mentioned above, if we build a better relationship with firms now, when they come to exit the industry, we'll be there.
"It's a shame when a good friend becomes a bitter human as they spend too much time fighting, whether that's fighting staff, fighting competitors or fighting the industry as a whole. You need to break that trend!" - Said by a very clever marketing consultant we use.
Lifes to short to spend it hating it, lets network and build a round table for our sector, inevitably we're all working towards the same goals anyway, a market exit.
Join the discussion .
We're building a little group of principal firms, compliance consultants and legal experts. All with the aim to improve knowledge and understanding for smaller firms that have less access to these recourses.
Introductions to other firms and key people can help you grow, but more importantly, remain compliant and navigate the regulations that govern the sector.
The sharing of success stories, customer experience processes and new underwriting routes can help all of us provide a much better, TCF focused, service to our customers while also ensuring underwriters aren't 'burnt' and the industry keeps evolving.