Following the 2016 change in ownership and the launch of three strategic pillars; Broker Network Members, Partners and Products, the Broker Network Group has today announced that it has formed a five-strong panel of ‘Strategic Insurer Partners’.
Ageas, Allianz, AXA, NIG and RSA, in addition to Arista, Fusion and AIUA & BIBU, as the Network’s Strategic MGA Partner, have been selected to form long-term partnerships with the UK’s leading Network.
Members have been placed at the centre of the insurer negotiations with Broker Network leveraging on its collective strength, ensuring the new panel allows brokers to compete against the biggest players in the industry.
The strategic panel will work closely with Broker Network to develop bespoke products and propositions, give access to agencies, improve service levels, and enhance trading capabilities for all Members.
The Network will also continue to trade with a number of other long-term insurer partners including Zurich, LV, Hiscox, Ecclesiastical and Markel.
Andy Fairchild, Broker Network CEO said: “This latest announcement is great news and shows real confidence in Broker Network. Our commitment to Members drives everything we do, including assisting them to better meet the needs of their clients and support long-term sustainable growth.
“All of our Members are able to benefit from the collective strength of the Network but have the ability to retain their independence within their preferred markets. Now that we have a clear direction and a new strategic panel, we believe the improved products, margins and service will benefit both the Members and Insurers alike.
“The values of each of our Strategic Insurer Partners are closely aligned to ours and will allow us to deliver unrivalled access to the regional independent broking community. All have been close supporters of the Network for a number of years and each has a track record of helping our Members grow, thanks to their broad market footprint. I’m excited to begin working together to invest in the development of exclusive products and enhancing our propositions.”
Francois-Xavier Boisseau, CEO, Insurance at Ageas added: “We are delighted to have strengthened our long-term relationship with Broker Network by being part of its strategic insurer panel. We have a strong history of working together and this only highlights our commitment to brokers and their customers.
“We are always looking to help the broking community grow and develop new propositions to serve the needs of today’s insurance market and I’m extremely proud that Ageas can be a part of this joint success story.”
Simon McGinn, Allianz General Manager, Commercial and Personal Lines, added: “We are delighted to be part of this exciting new opportunity with Broker Network. We enjoy a long standing strategic relationship with the Network and will continue to provide support through innovative and sustainable solutions for Network Members, and look forward to being a part of their continued success.”
Jon Walker, AXA Commercial Intermediary Managing Director, added: “I am delighted that we will be continuing the strategic partnership we have developed with Broker Network over the years and that we value so greatly. I am genuinely excited about the mutual opportunities that lie ahead.”
Neil Manser, NIG Managing Director added: “We are delighted to continue our relationship with Broker Network as one of their Strategic Insurance Partners. We believe that our strategy aligns well with Broker Network's aims and NIG’s proposition is perfect for Broker Network's members. We are looking forward to building on existing and developing new relationships throughout the Membership.”
Jim Reeve, Managing Director, Commercial Risk Solutions at RSA, added: “RSA has been a long-term partner of Broker Network and we are very pleased to be building on this relationship over the next three years. In October 2016, RSA launched five new commercial products just for Broker Network members, which is an example of how we hope to provide Network members with a strong RSA proposition to support their businesses.”
David Bruce, Arista and Fusion CEO, concluded: “We are genuinely excited by the opportunity to partner more strategically with Broker Network and see huge synergies across our respective organisations where we can win together.”