‘What’s it like really like being a Coversure franchisee?’ is a question we get asked by most of our prospective franchise holders. To answer it we spoke to Coversure’s franchise holder in Croydon, Rajan Amin to get the inside story on being a Coversure franchisee.
How long have you been a Coversure Franchise holder, Rajan?
Since August 2000
And prior to Coversure, what was your insurance experience – you obviously had at least three years’ experience in the industry?
I started as a life insurance salesman, commission-only with Allied Dunbar in June 1991. I was then headhunted by a large Insurance broker to look after their insurance clients’ financial affairs; this is where I got my interest in Insurance brokering. After 3 years’, in August 2000, we opened our franchise with Coversure Insurance Services in Wimbledon, London. Moving to Kennington in 2003 before settling in our home at Coversure Croydon in June 2015.
What was it that made you decide to become a Coversure franchisee – the support, the agencies, the products?
The key was people, Mark Coverdale and Nick Hollands came to our home met us had a coffee and went through everything. In the end, there was not much competition and the warm, open nature of the two of them won us over. The level of ongoing support and the turnkey operational working office from day one were also clearly important.
On a day-to-day basis, how supportive do you find Coversure HQ?
They are our 160+ people back office team, not too many independent insurance brokers can say they have support like that behind them! From Coversure Underwriting Team (CUT) and Policyfast giving us daily support in securing new business and renewals from their extension range of products, to full compliance help, marketing support and a 5 star accounts team: Our business is fully integrated with Coversure HQ.
Do they make doing business easier?
Over the last 16 years I have seen Coversure HQ move from ‘via Head Office only’ to ‘direct access for the office’. This gives us the benefit of dealing with H.Q. (CUT, Policyfast and City Underwriters) when a risk requires it and going to insurers directly dependent on risk. Sometimes we go to all of them and see who will come back with the best terms for our client. Advances in general systems, marketing support, digital marketing, P.R., business support, workshops, CII training courses the list goes on… It is like a being a member of a gym, it is not what the gym gives me but what we put in
You moved from Kennington to Croydon not so long ago – were Coversure helpful with that transition?
Coversure HQ were very supportive during and after the move. Help with I.T. and informing insurers to financial support to help with the costs of moving and marketing to a new area.
And the move has proved positive? Judging from your anniversary video you seem to have taken to Croydon like a duck to water.
Moving to Croydon was the best business decision we made. Croydon has 3 big things that work for our business:
1. A huge SME business community, and SME business are all about people and we are all about people, a perfect fit
2. A supportive SME community, which try to give business to each other where possible. As a SME in Croydon we are seeing this regularly now by new business contacts saying, ‘Here is my renewal, let me know what you can do. I have never met by current broker, so would like to have you deal with it, as we know you’
3. Almost daily networking events. As a people person, I love to meet people face-to-face and Croydon gives me this opportunity. People buy people first, and the product/service second
You’re obviously an advocate of the Coversure franchise programme. Would you recommend it to other insurance professionals thinking of starting their own brokerage?
Absolutely, but I would give them a list of mistakes I made and/or things I would do differently
And what’s the one piece of advice you’d give to someone starting their own Coversure franchise?
I will have to give 2…
1) Invest in good quality people from day one, building a super team around a great business is a success story
2) Get out and meet people face-to-face. People buy people first, and the product/service second. This is our USP
If you could sum up being a Coversure franchise holder in a couple of sentences, what would you say?
It has given us the vehicle to grow a business we can all be proud of!
Thank you Rajan, long may your success continue. Should you wish to contact Rajan to talk about your insurance needs, you can call him on Croydon, (0207) 998 0102 or email him here.