Highlighting how impactful 5-star brokers have been, IBUK’s figures show that successful brokers have an average of:
119% active subscriber growth
89% revenue growth
106% increase in written programs
5-star customer centric brokerage
Sioma Insurance Consultants, a five-year-old brokerage firm in Mayfair, London, is focusing on prioritizing acquisitions.
“We are absolutely focused on making sure our system responds to our customers if they have a claim,” says managing director Alexander Margolin. “That means never cutting corners with advice, insurer selection or policy terminology.
“It has been very important to embed this culture in our business, and our customers know that what they buy will be there when they need it.”
Cioma once again put-up impressive numbers that show he is ahead of the 5-star winner in 2023.
Not only did it grow the business to £2 million in GWP by 2022, but it also:
experienced a 125% increase in revenue.
Posted a 67% increase in written programs.
experienced a 133% increase in the number of active participants.
Industry expert and chief operating officer of Insurance Search, Nick Hoadley, reveals that impressive trending data is a key consideration for brokerages.
“[Increasing active subscribers] is very important,” he says. “It shows that the value proposition is attractive. It means they are beating the competition, beating the market and taking steps to attract new customers to their organization.”
Cioma has used his skills to leverage tech and avoid hiring additional management staff, keeping the brokerage focused on its core business.
Margolin says, “The faster you grow, the more management you have to belong to