Earlier this year, Home & Legacy unveiled a new brand image and a fresh new website in a move reflecting the changing face of the high-net-worth (HNW) insurance market. Discussing the firm’s evolution with IB TV, MD Barry O’Neill (pictured) noted that the rebrand was all about getting the business back on the front foot.
Watch now: What’s behind a major rebrand?
“We’ve had a couple of years [that] our brokers know have been quite challenging for us,” he said. “So we’ve had some changes in our business and now we’re ready to move forward. And we felt a good way to start that is to refresh our look and the business to show our brand in a new, up-to-date, fresh, clean style. And that’s the start for us in terms of moving our business forward.”
After a challenging few years, O’Neill is positive about the strong, positive change coming into the business as the year progresses. The branding update is just the first step of that journey, he said, and its journey is about moving the business forward. And the changes Home & Legacy will enjoy will be aimed at putting the business back at the front of mind for its brokers.
The HNW space is facing tough times, he said, as its clients do live in the real world and so are not immune to the raging cost-of-living crisis. For brokers looking to thrive in this space, particularly during such a challenging period, O’Neill advised that communication is the key to success.
“There’s two aspects to that,” he said. “If you’re trying to get into high net worth as a sector, now is a good time because clients will be looking for better deals, with all the information we have around economic pressure and the cost-of-living… So, if you’re looking to get into it, start talking to your clients now about what opportunity you may present to them.
“If you’re in high net worth, you’ve got to start talking to clients about anything other than just the cost of the next renewal. Because actually, you should talk to your customer about things other than money. So communicate midterm, before renewal, before you acquire the client. Communication is the heart of everything. And then when you get that client, whether it’s new or renewal, use a specialist market. Use people who really understand the needs of a high-net-worth client.”
Watch now: What’s behind a major rebrand?
