The power of partnership
Line of Business: Property Owners
Trade: Wealth management
We sowed the seeds of a broker-insurer relationship that is now bearing plenty of fruit.
Our relationship with this broker had become a little stale. Following a change of brokerage ownership, a new director was installed. The director had a fledgling relationship with wealth managers and clients looking to purchase property in London and the South East of England. RSA started working with the broker in the second quarter of 2018 to understand the extent of the property opportunity and what it would take to win.
Our trading and account management teams collaborated to ensure the broker was fully aware of our appetite and desire to convert this opportunity while maintaining our underwriting and pricing discipline – a win for both parties. As a result, we landed the property business in the second half of 2018.
The relationship has developed based on a solid mutual understanding and working rhythm. The broker appreciates our prompt responses to enquiries, and our underwriting and pricing flexibility. The broker is confident in picking up the phone, in the knowledge that we will listen and are willing to negotiate the best possible outcome. He is therefore comfortable recommending RSA and taking our offering forward to a highly demanding client base.
With a deep understanding of the broker’s needs, and the proven ability to deliver, the past success and relationship we’ve built with this broker ensured we won this opportunity. We continue to work closely with the broker and look forward to binding more business throughout 2019.