Grant Burrows is the founder, director and chairman of Asurit, a firm that encompasses appliance and gadget specialists
Smart Sure and Smart Cover – a tall order by any standards.
Insurance Business spoke to Burrows about balancing his roles, how he cracked the internet in the early days, and the challenges of growth.
How did you get into insurance, and what was your journey to your current role?
I was in the telecoms business in the late 80s and early 90s, and mobile phone insurance was showing itself to be increasing in demand. By the end of the 90s, the internet was also an increasing market. My team and I assessed the market then, and developed a strategy to work with it effectively. We created a platform whereby we could have agents all over the UK being able to sell our products using the internet. This was a new concept around the turn of the millennium, but eventually developed into one of the first UK affiliate networks, with 23,000 agents selling telecoms products to the public. Our top selling product was mobile phone insurance, for which we had partnered with Supercover Insurance.
This relationship continued for 15 years until Supercover was sold to the
Markerstudy Group of companies. In 2005, Asurit became regulated with the industry and by 2010 had a number of appointed representative firms selling gadget insurance. By then, we had developed an incredibly successful mobile phone comparison system for our affiliates. In 2013, I joined forces with Niraz Buhari to create our present group of companies.
Can you describe your role in Asurit and managing the two firms - Smart Sure and Smart Cover?
I am presently the chairman of Asurit’s board of directors and as such keep in close contact with them on a daily basis. The Asurit senior management team oversee Smart Sure and Smart Cover which are both owned by Mr Niraz Buhari and myself. This means that as appointed representatives of Asurit, Smart Sure and Smart Cover have more oversight and control than with regular non-associated appointed representatives.
What are some of the highlights of your career so far?
Creating the first online sign-up forms for mobile phone insurance; creating our affiliate network and our comparison system; and meeting and joining forces with my business partner, Niraz Buhari. Together with Niraz’s dynamism and natural flair for company management, our business has gone from strength to strength.
What are some of the challenges you’ve faced along the way?
Expansion always brings great challenges. Move too fast and it is hard for the system to catch up. Move too slowly, and you can miss the boat. The challenge is to drive quickly towards the goals of the future but keep your eye on the temperature and fuel gauge that represent the present status. As our business expands and grows, the challenge is to keep growth to a manageable pace. Fortunately, Niraz, our team, and myself have a great appetite for hard but diligent work, which is so important in the insurance sector.
Have you seen any significant changes in the industry during your career?
Retail insurance used to be a completely different operation in the 80s and 90s. In those days, your domestic and motor insurance was found, more often than not, through two suited brokers situated in high street premises.
Now, most of those local friendly insurance brokers have gone, as the industry has moved to a more digital, faceless online presence. We were one of the first companies to embrace the digital era and it has given us an excellent foundation to work from, but things are coming full circle and to be at the forefront of the new digital age requires that we engage with our consumers and clients in the more friendly and trustworthy manner of the old high street broker of the 80s, which is what we strive to do.
What is your personal or professional goal for 2018?
My personal goals for 2018 are to complete my personal projects, which have been side-lined so that I can pursue my professional goals – which are to establish our brands Smart-Cover and Smart-Sure as household names for providing domestic insurance for smart gadgets around the home.
“If I wasn’t in insurance, I would be…”
I have taught yoga and meditation in my spare time for over 20 years. Yoga and meditation has had an excellent effect on my business life, so if I wasn’t in insurance, I would be doing that full-time.
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