The latest update from Markerstudy as a standalone Business division makes its debut;
Markerstudy Business, the commercial insurance division of Markerstudy Group, is now fully ‘open for business’ according to CEO Ross Barrington (subject to regulatory approval), after confirming his leadership team, and signing off on a strategy to grow the business to £200m GWP during the next phase.
Group Chief Executive Kevin Spencer said: “The primary focus of creating a separate business division with a dedicated executive team and board is to bring a focused service to our business customers, delivering the best possible outcomes for them.”
Ross explained that organic growth will come through key brands such as Swinton Business, Hughes, CVD, One Insurance Solution, and London Market broker Clegg Gifford.
“All our commercial insurance brands, including Clegg Gifford, are now organised into one simplified structure, and we have a clear mandate for profitable growth. Led by our hugely experienced team, we are creating a centre of excellence with the purpose of meeting the demands of our customers, sourcing great products, with simple routes to market and delivering good customer outcomes.”
He added: “Our key products are Motor Trade, Taxi, Non-Standard Van, Courier and Fleet, but we expect to launch a cyber product shortly; we are also developing an agriculture offer and refreshing our EL and PL propositions, working alongside a blue-chip insurer panel that includes Allianz, Axa, Intact, Tradex and Covea.”
“The London Markets will continue to be a key focus for us with Clegg Gifford – Lloyd’s Broker as we look to capitalise on the opportunities for growth, innovation and distribution. Led by Toby Clegg, the team will build on its extensive experience to reinforce our market position, develop our platforms and accelerate growth in this space.”
He continued: “our immediate focus is on our core brands, building our relationships with our insurer partners and customers and giving our 400-strong team all the support they need to get our book to the £200m mark and beyond.”
Ross concluded: “I’m really energised by the opportunity to lead Markerstudy Business. BIBA will be our first event next week and I’m looking forward to building on our existing relationship network and forging new partnerships as we look to maximise growth potential and make Business a powerhouse division within Markerstudy Group and the industry.”
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