Setting up a new business is challenging even in the best of times, but one broker has taken the leap and set up a new brokerage in the midst of an ongoing global pandemic and a massive economic recession.
Jonathan Winstone, who was recently featured in the Insurance Business Young Guns 2020 list, entered the insurance broking business almost six years ago. He started his career with AMP before moving into his family brokerage, and he has now set up Winstone Partners - a brokerage focusing primarily on life insurance, though it is looking to expand into fire & general, residential and commercial insurance further down the line.
Commenting on the timing of his venture, Winstone says that despite its challenges, the pandemic has actually opened up a number of opportunities in the market.
“I look at where the opportunity falls, and I see a long future ahead of me in the financial services sector,” Winstone said.
“The decision was made some time ago to make this change, and set up a new brokerage.”
“It is unfortunate that the coronavirus outbreak has happened at this point, and it does mean that our message to the public has been a bit interrupted,” he continued.
“But it has also been a great chance to do some planning around how we’re going to do business, and how we can build our systems and processes to better support our clients. We can look for areas where we can really add value, and improve the journey for them.”
Winstone says that setting up a new venture was always going to be challenging, but that the current circumstances have also forced people to take a closer look at their insurance and finances. This means brokers now have a prime opportunity to step in, demonstrate their value and help clients protect their future.
“This outbreak has shown the market that sometimes, unexpected things do happen, and that they do need to think about their future and how they’re protecting things like income,” he explained.
“This couldn’t have been predicted, and nor can something like cancer or a disability. In some way, it’s a positive thing that people have been forced to consider what their position is, and we’re more than happy to work through what their requirements are, work up a suitable plan and then look after them moving forward.”
