Investec is hopeful its first ever attendance at the Managing General Agents’ Association conference will catalyse efforts to break a market duopoly.
Historically, Close Brothers and Premium Credit have been market leaders in the provision of premium finance to insurance brokers, but Investec has been steadily onboarding clients over the past two years, a process that has accelerated after joining the MGAA in September.
Jay Curtis, broker manager at Investec, explained the company decided to attend the MGAA Conference in London’s Old Billingsgate Conference Centre as part of a broader event-led marketing strategy.
“The vast majority of our customers are commercial brokers with gross written premiums of between £2 million and £90 million,” he said.
“As we are targeting independent brokers, we have already done some work with the British Insurance Brokers Association (BIBA), attending their knowledge forums, conference and regional events.”
Curtis explained that Investec hopes to continue to expand its market share by recruiting new brokers by highlighting the brand’s service proposition and the complementary solutions the company offers in wealth management and banking.
Investec is marketing heavily on its offering to brokers which includes a dedicated account manager and single point of contact through its broker support team with no call centres.
Its proposition promises competitive rates and majors on charging no client default of cancellation fees and having fast credit underwriting, even for larger transactions.
More information on the MGAA Conference is available here.