Kerry London MD, Speaks on Consolidation and Regional Brookers

Kelliher Insurance Group had revealed days back 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.”