Kelliher Insurance Group revealed earlier this week that it would be
pushing to diversify its client base in 2018, by extending beyond the City and the South East to regional brokers.
Following the group setting out its strategy for the year,
Insurance Business spoke to Kerry London – Kelliher’s wholesale broking arm – about engaging with regional brokers, and how consolidation in the market has affected the Lloyd’s broker.
When it comes to reaching out to a wider client base, Kerry wants to establish a reciprocal relationship, Dean Calaz, the firm’s regional managing director said.
“We want to understand what their needs are, rather than us trying to dictate to them,” he said of the relationship between the business and the regional brokers it’s playing for. “We want them to feel that we are here to support them, rather than coming out with products that they may not have the need or desire for.”
After consulting with regional brokers, the feedback was that they largely wanted more engagement and a better service from their wholesale counterparts, Calaz explained.
“We have really engaged with them to understand what they want from their broking team in London,” he noted. “What is it that they need, want, or have trouble placing? Are there any markets they need access to, or any facilities and schemes they need to compete with locally that we can try to be more competitive with?
“Our aim is to be there for the regional brokers when they need us, rather than when we need them. We want to be their team in London that they know can help them place tricky risks, or even products that are just a little more niche. Being Lloyd’s brokers, we can go and do that for them.”
In a time of market consolidation, Kerry is one of the few sizeable independent brokers remaining in the City – but it’s been good news for the business, says Calaz.
“We see consolidation as an opportunity,” he explained. “The competitor market is shrinking for us, and people are looking for an alternative to the larger consolidated brokers. That’s where they’re coming to Kerry for that independent, traditional advice that we’ve been giving for over 30 years.”
Related stories:
Help wanted: Kelliher Insurance Group seeks regional brokers
Kerry London Underwriting launches bespoke facility with ECIC
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