If you’re going to make a change there’s no point just dipping your toes in the water, you might as well dive the whole way in. Certainly, that is the case with insurance broking giant Cooper Gay which has now renamed itself as Ed.
“We’d like to introduce ourselves. We are Ed,” said chief executive Steve Hearn to assembled staff yesterday. “You may recognise our people – we used to be called Cooper Gay.”
The rebranding comes with a lofty goal in mind – according to a company statement Ed wants to ‘redefine’ broking. It has three key pillars that will define its business philosophy – namely that it will be an independent broker for independent producers of independent business; that it exists to serve a client chain and never compete with it; and that it will call on broad and deep expertise, a focus on technology and an international presence to offer a genuinely global solution for each of its clients, for every risk.
“All around us, the world is changing,” commented Hearn. “Ed is the embodiment of that change in the world of wholesale broking.”
“The birth of Ed is the most obvious representation of our journey to redefine broking. It will not happen overnight, but we’ve already made significant achievements,” he told Ed’s team. “Ed’s heart is in London, but our brain is everywhere.”
According to Hearn, the company, which is the eighth largest Lloyd’s broker, will call upon its ‘significant advantages’ over larger competitors and will broke in a different way.
“We will never compete with our clients,” he said. “We will always search the world to find the solutions that are best for them, and never present options that simply serve our interests.”
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