EIC Insurance Services

A Message from Lord Pickles and Lord Blunkett, followed by EIC Insurance Services's best practice article

The ability to listen and learn from one another has always been vital in parliament, in business and in most aspects of daily life. But at this particular moment in time, as national and global events continue to reiterate, it is uncommonly crucial that we forge new channels of communication and reinforce existing ones. The following article from EIC Insurance Services is an attempt to do just that. We would welcome your thoughts on this or any other Parliamentary Review article.

Blunkett signature Rt Hon The Lord David Blunkett
Pickles signature Rt Hon The Lord Eric Pickles

www.eicinsurance.co.uk

THE PARLIAMENTARY REVIEW
Highlighting best practice
THE PARLIAMENTARY REVIEW
Highlighting best practice
28 | EIC INSURANCE SERVICES
Managing Director
CharlieHicks
Established in 1973, commercial insurance brokers EIC
Insurance pride themselves on being socially responsible
in all they do. Managing Director Charlie Hicks explains
that the firm puts people first by delivering professional service
to their clients while remaining grounded in delivering for
their community – Charlie and his team have raised more
than £250,000 for a variety of local charities in recent years.
Charlie tells
The Parliamentary Review
how he and his team are
responding to the changing financial services sector.
EIC first started out as a firm of financial advisors and in the 1980s, when my
predecessor came on board, the business segmented and established a general
insurance arm, with both sides of the business operating between Hertfordshire
and Bedfordshire.
With the switch towards general insurance, the business became essentially divided
between two objectives and two markets. Due to regulation changes, the business
soon formally divided into EIC Insurance and EIC Financial Services, the latter of
which offered wealth management advice. This division allowed us to focus on our
respective disciplines.
A community-centred approach
Since 1988, EIC Insurance has become firmly established as a community broker,
with corporate social responsibility at the heart of everything we do. We have
hosted over 35 charity golf days raising over £250,000 so far, as well as being
closely involved with a number of local community action groups.
We have always sought to shake off the historic stuffiness that is associated with
our industry and have embraced a modern, outward-looking approach. Although
we have embraced modernity, we try to remain traditional in our ethos. We deal
with all our customers on a personal level, instead of a call-centre approach,
and meet our clients directly, either at our office or out in the community. These
connections have been strengthened and eased with technological advances,
which allow us to communicate with our clients face to face even if we are
milesapart.
We mostly work within the M1 corridor: around 90 per cent of the business we
conduct is located here. The majority of our clients are SMEs, something we value
as we can bring our own experience to bear when providing advice. As an SME
business ourselves, we understand their common concerns and can therefore relate
to them.
AT A GLANCE
EIC INSURANCE SERVICES
»Managing Director:
CharlieHicks
»Established in 1973
»Based in Tring, Hertfordshire
»Services: Commercial and
household insurance broker
»No. of employees: 10
EIC Insurance Services
29EIC INSURANCE SERVICES |
FINANCIAL SERVICES
A focus on advice
Insurance can be a confusing world
and so we aim to guide our clients
through it, providing general advice
and also acting as a risk advisor to the
business owners. We never expect our
clients to do anything we wouldn’t
do ourselves, and we call upon our
existing clients and contacts to assist in
areas where more expertise is needed.
Rather than just arranging insurance,
we offer a more complete package,
something encapsulated by our
motto: “Independent, Local, Personal
andProfessional”.
As part of our personal approach,
all business we pick up is referred or
recommended from an existing client
or contact. As our reputation spreads,
people want to come and work with
us and this is the primary way we
attract new customers.
Reassessing and innovating
Our industry is ever changing, and
to allow us to continue to treat our
customers fairly and consistently, we
regularly invest in the business. We
ensure that our clients are supported
by a state-of-the-art operating system
updated on a frequent basis, with
updates sometimes coming daily.
Through these updates, we can ensure
our clients’ data is secure and we
efficiently exceed regulatory expectations.
By having this technology in place, we
are able to provide our clients with
electronically traded insurance quotes,
speeding up the process and simplifying
our customers’ journeys comparable to
purchasing on aggregator websites.
Adapting to market pressures
As with all businesses in our field,
competition in the insurance industry,
especially through consolidators and
solely online companies, presents a
threat. However, our approach and
commitment to personal relationships
and advice mitigates this substantially.
We are not interested in working with
clients who don’t value the work of
an expert, and we always want to
work with those who are looking for a
business partnership.
The insurance industry is currently
entering its first hard market for well
over a decade, which will unfortunately
lead to rising premiums. As the hard
market peaks, brokers like us need to
show we are more than an invoice, and
it is at this point that our partnerships
with our clients become our biggest
strength. Our status as a business that
goes far beyond the normal level of
service should protect us from the
worst effects of this hardmarket.
We are targeting continued growth in
2020 based on our current strategies
and organic methods. Another route
we are exploring is the acquisition of
like-minded local brokers. As we have
a similar approach, we can provide an
alternative to the conglomerates and
allow these brokers the peace of mind
that their clients and staff will continue
as before. We are also keen to continue
our apprenticeship programme, helping
to bring through the next generation in
our industry. We are planning to bring
in a new apprentice every 12 months,
and by refreshing and bolstering our
workforce in this way, we can ensure a
successful and stable future.
Networking continues
to be of significant
importance for the UK
financial services sector
We are
targeting
continued
growth in
2020 based
on our current
strategies and
organic
methods
BEST PRACTICE SPONSOR 2020
THE PARLIAMENTARY REVIEW
Highlighting best practice
28 | EIC INSURANCE SERVICES
Managing Director
CharlieHicks
Established in 1973, commercial insurance brokers EIC
Insurance pride themselves on being socially responsible
in all they do. Managing Director Charlie Hicks explains
that the firm puts people first by delivering professional service
to their clients while remaining grounded in delivering for
their community – Charlie and his team have raised more
than £250,000 for a variety of local charities in recent years.
Charlie tells
The Parliamentary Review
how he and his team are
responding to the changing financial services sector.
EIC first started out as a firm of financial advisors and in the 1980s, when my
predecessor came on board, the business segmented and established a general
insurance arm, with both sides of the business operating between Hertfordshire
and Bedfordshire.
With the switch towards general insurance, the business became essentially divided
between two objectives and two markets. Due to regulation changes, the business
soon formally divided into EIC Insurance and EIC Financial Services, the latter of
which offered wealth management advice. This division allowed us to focus on our
respective disciplines.
A community-centred approach
Since 1988, EIC Insurance has become firmly established as a community broker,
with corporate social responsibility at the heart of everything we do. We have
hosted over 35 charity golf days raising over £250,000 so far, as well as being
closely involved with a number of local community action groups.
We have always sought to shake off the historic stuffiness that is associated with
our industry and have embraced a modern, outward-looking approach. Although
we have embraced modernity, we try to remain traditional in our ethos. We deal
with all our customers on a personal level, instead of a call-centre approach,
and meet our clients directly, either at our office or out in the community. These
connections have been strengthened and eased with technological advances,
which allow us to communicate with our clients face to face even if we are
milesapart.
We mostly work within the M1 corridor: around 90 per cent of the business we
conduct is located here. The majority of our clients are SMEs, something we value
as we can bring our own experience to bear when providing advice. As an SME
business ourselves, we understand their common concerns and can therefore relate
to them.
AT A GLANCE
EIC INSURANCE SERVICES
»Managing Director:
CharlieHicks
»Established in 1973
»Based in Tring, Hertfordshire
»Services: Commercial and
household insurance broker
»No. of employees: 10
EIC Insurance Services
29EIC INSURANCE SERVICES |
FINANCIAL SERVICES
A focus on advice
Insurance can be a confusing world
and so we aim to guide our clients
through it, providing general advice
and also acting as a risk advisor to the
business owners. We never expect our
clients to do anything we wouldn’t
do ourselves, and we call upon our
existing clients and contacts to assist in
areas where more expertise is needed.
Rather than just arranging insurance,
we offer a more complete package,
something encapsulated by our
motto: “Independent, Local, Personal
andProfessional”.
As part of our personal approach,
all business we pick up is referred or
recommended from an existing client
or contact. As our reputation spreads,
people want to come and work with
us and this is the primary way we
attract new customers.
Reassessing and innovating
Our industry is ever changing, and
to allow us to continue to treat our
customers fairly and consistently, we
regularly invest in the business. We
ensure that our clients are supported
by a state-of-the-art operating system
updated on a frequent basis, with
updates sometimes coming daily.
Through these updates, we can ensure
our clients’ data is secure and we
efficiently exceed regulatory expectations.
By having this technology in place, we
are able to provide our clients with
electronically traded insurance quotes,
speeding up the process and simplifying
our customers’ journeys comparable to
purchasing on aggregator websites.
Adapting to market pressures
As with all businesses in our field,
competition in the insurance industry,
especially through consolidators and
solely online companies, presents a
threat. However, our approach and
commitment to personal relationships
and advice mitigates this substantially.
We are not interested in working with
clients who don’t value the work of
an expert, and we always want to
work with those who are looking for a
business partnership.
The insurance industry is currently
entering its first hard market for well
over a decade, which will unfortunately
lead to rising premiums. As the hard
market peaks, brokers like us need to
show we are more than an invoice, and
it is at this point that our partnerships
with our clients become our biggest
strength. Our status as a business that
goes far beyond the normal level of
service should protect us from the
worst effects of this hardmarket.
We are targeting continued growth in
2020 based on our current strategies
and organic methods. Another route
we are exploring is the acquisition of
like-minded local brokers. As we have
a similar approach, we can provide an
alternative to the conglomerates and
allow these brokers the peace of mind
that their clients and staff will continue
as before. We are also keen to continue
our apprenticeship programme, helping
to bring through the next generation in
our industry. We are planning to bring
in a new apprentice every 12 months,
and by refreshing and bolstering our
workforce in this way, we can ensure a
successful and stable future.
Networking continues
to be of significant
importance for the UK
financial services sector
We are
targeting
continued
growth in
2020 based
on our current
strategies and
organic
methods

www.eicinsurance.co.uk

This article was sponsored by EIC Insurance Services. The Parliamentary Review is wholly funded by the representatives who write for it. The publication in which this article originally appeared contained the following foreword from Rt Hon Elizabeth Truss.

Rt Hon Elizabeth Truss's Foreword For The Parliamentary Review

By Rt Hon Elizabeth Truss

Even by the standards of the day –this has been one of the most exciting and unpredictable years in British politics.

The leadership election we’ve just seen marks a huge moment in our country’s history. This government is taking a decisive new direction, embracing the opportunities of Brexit and preparing our country to flourish outside the EU.

As international trade secretary, I’ll be driving forward work on the free trade agreements that are going to be a priority for the government. Free trade isn’t just an abstract concept bandied around by technocrats. It is crucial for a strong economy and for the ability of families to make ends meet. Free trade benefits people in every part of our country, as British firms export to new markets and people doing the weekly shop have access to a wider choice of goods at lower prices.

The essence of free trade is in the title: freedom. It’s about giving people the power to exchange their goods without heavy government taxation or interference. Commerce and free exchange are the engine room of prosperity and social mobility. I’m determined to tackle the forces who want to hold that back.

One of my priorities is agreeing an exciting new free trade deal with the US, building on the great relationship between our two countries and the Prime Minister and US President. But I’ll also be talking to other partners including New Zealand, Australia and fast-growing Asian markets.

And with the EU too, we want a friendly and constructive relationship, as constitutional equals, and as friends and partners in facing the challenges that lie ahead – a relationship based on a deep free trade agreement. Our country produces some of the world’s most successful exports, and the opportunity to bring these to the rest of the world should make us all excited about the future. It is this excitement, optimism and ambition which I believe will come to define this government.

For too long now, we have been told Britain isn’t big or important enough to survive outside the EU – that we have to accept a deal that reflects our reduced circumstances. I say that’s rubbish. With the right policies in place, we can be the most competitive, free-thinking, prosperous nation on Earth exporting to the world and leading in new developments like AI. To do that, we’ll give the brilliant next generation of entrepreneurs the tools they need to succeed. Since 2015, there has been a staggering 85 per cent rise in the number of businesses set up by 18 to 24 year olds – twice the level set up by the same age group in France and Germany. We’ll help them flourish by championing enterprise, cutting taxes and making regulation flexible and responsive to their needs.

As we do that, we’ll level up and unite all parts of the UK with great transport links, fibre broadband in every home and proper school funding, so everyone shares in our country’s success.

2019 has been the year of brewing economic and political revolution. 2020 will be the year when a revitalised Conservative government turbo charges the economy, boosts prospects for people across the country, and catapults Britain back to the forefront of the world stage.



Rt Hon Elizabeth Truss
Secretary of State for International Development