Broker Direct: Everything you need to know
Headquarters: Egerton, Bolton, Lancashire
When Broker Direct Plc was established in 1997, it was with a unique proposition in mind – the establishment of a “general insurance management operation for brokers, majority owned by brokers,” according to CEO Terry Stanley.
To this day, Broker Direct views its mission as a responsibility to delight both brokers and their clients through superior service, while also delivering excellent results to insurer partners. Over 70% of the shares of this company are owned by brokers and many of Broker Direct’s shareholders are the firms which place business through them.
Broker Direct now employs over 175 staff members. As the organisation develops, it is continuing to add more companies and services to the Broker Direct Group to help support brokers in every area of their business.
Products from Broker Direct
As Broker Direct is a blended underwriting agency, wholesale broker and third party administrator, its central aim is to provide long-term, profitable accounts for all its supporting insurers. This, in turn, allows it to continue to offer brokers products with competitive premiums and commissions.
Commercial lines insurance
Under its commercial lines sector, Broker Direct provides services for:
- Commercial vehicles
- Commercial property
- Excess public & products liability
- Tools and own goods in transit
Personal lines insurance
Within its personal lines sector, Broker Direct provides:
- Motor products – these are offered at competitive rates and avail of Broker Direct’s commitment to excellent customer services standards.
- Home products – the BDHome range which includes comprehensive insurance also offers products tailored for a broad range of clients with special circumstances including first-time buyers and downsizers.
- Breakdown – BDAssistance is provided by the RAC and gives customers comprehensive cover including roadside recovery and European assistance.
- Travel – Broker Direct’s travel offering includes all types of cover including both single and multi-trip cover.
The employee proposition of Broker Direct
Broker Direct prides itself on building a comfortable and inclusive environment for all its employees and believes strongly that “any company is only as good as the people who work for it.”
The company offers employees a broad range of financial and social benefits. It is aided by numerous perks including a competitive salary, a generous holiday allowance, pension plans and a cycle-to-work scheme.
Broker Direct Insurer Due Diligence
Broker Direct understands the essential nature of fully completing due diligence checks on the insurers it is considering using and recommending to brokers. The Broker Direct Insurer Due Diligence process includes its Security Sub-Committee and Compliance team completing a range of checks on an annual basis, in accordance with the expectations and recommendations of the FCA.
Broker Direct believes that by completing these checks it is not only making sure that its recommended insurers are financially sound but also that they meet the expectations Broker Direct has for insurers. Due to these checks, Broker Direct has never dealt with an insurer which has failed.