Building better brokerages – leadership, talent and technology

Whether a business survives or thrives can be down to a number of key factors – leadership, the team on the ground and technology choices.

Broking has long been a stamping ground for entrepreneurs, but many are also natural born leaders, able to make inspired decisions that drive success.

Capsule Insurance, for example, has been described as a ‘next generation’ business, providing data-driven cover and risk management support to fast-growing, venture-capital backed start-ups.

Trust

Liam Green, COO and co-founder of Capsule, describes his leadership style as collaborative and transparent. “I want people to understand where we’re heading, why we’re making decisions and how they contribute to the bigger picture. I trust people to take ownership, challenge ideas and bring expertise to the table.”

I’ve gradually moved from spending most of my time being a broker to more developing the business and the people.

Peter Smits, Ashbourne

Peter Smits, managing director of Hertfordshire family brokerage Ashbourne Insurance, says there must be a genuine appetite for leadership as it “can be a lonely place at times”.

His central tenet is: “The starting point is simple: never ask somebody else to do a job you wouldn’t be prepared to do yourself. If you want to inspire people and generate genuine loyalty amongst your staff, you need to demonstrate you’re there to support your team, not simply direct them.”

He continues: “I now get more enjoyment from leadership. I’ve gradually moved from spending most of my time being a broker to more developing the business and the people. It’s about setting the example, supporting people and creating an environment in which good people can become even better.”

Unique grasp

Andy Halstead, CEO of Barbon Insurance Group (part of PIB), also founded Let Alliance. He says a start-up provided invaluable experience. “Having a detailed understanding of the business from day one, and being part of what made the business appealing to customers and team members from the start, gives me a unique grasp of the business today.”

On recruitment, Ashbourne’s Smits says he wants “to understand the person behind the CV. What do they do outside work? Are they involved in team sports? Volunteering? If a student, do they have a part-time job?

“Insurance knowledge can be taught, finding people with the right attitude, enthusiasm and willingness to contribute is often harder.”

According to Green, those who thrive at Capsule “tend to be adaptable, curious and genuinely excited by building something different. As a growing business, we look for people who are comfortable wearing multiple hats and aren’t afraid to get stuck in. In a startup/scale-up environment, roles evolve quickly, and that’s something many of our team enjoy.

“Technical skills are important, but we also want people who care about customers, enjoy collaborating with colleagues and are motivated by having a positive impact. When people connect with our mission and culture, they’re more likely to thrive and grow with the business.”

M&A inevitability

Meanwhile, Halstead says consolidation also presents learning opportunities. “It’s inevitable acquisitions introduce new talent to the acquirer businesses. It’s also naive to assume the best people are always in the acquirer. I’ve found as businesses grow, it’s crucial to introduce new talent and experience to leadership and management teams.”

We wanted to build a business with a strong sense of purpose and shared values.

Liam Green, Capsule

Culture matters, and Green says: “We’ve been intentional about creating a business that puts people, purpose and values alongside commercial success. We wanted Capsule to feel different. 

“We didn’t want a traditional hierarchy where people simply turn up, do a job and leave. We wanted to build a business with a strong sense of purpose and shared values. Being a B Corp reflects a lot of that thinking.”

In Smits’ opinion: “Culture is reinforced every day through the way people behave, how customers are treated and how colleagues support one another. One of the best barometers is customer feedback. [It] tells us a great deal about the culture within the business.”

Digital

Technology is a core business component. Digital is a must, not an option, says Halstead. However: “It seems talking to people is a dying art in the younger generations, something that troubles me.”

So, can talking be combined with technology? “Clients often want expert guidance,” says Green. “Reassurance and someone they trust to help them navigate important decisions around risk.

“We use technology, automation and AI to remove friction, reduce manual admin and streamline repetitive tasks. By taking care of the operational heavy lifting, our team can spend less time on administration and more time focusing on clients, solving problems and delivering value.” 

Enhancing human expertise

He adds AI is there to enhance human expertise, not replace it.

Smits agrees: “No individual can digest dozens of constantly changing insurer products, wordings and endorsements – some running to hundreds of pages. AI can help our staff navigate information, identify cover differences and perhaps highlight something about client requirements that needs investigation.”

If a broker gets the core fundamentals right, a successful business results.

Based in Redhill and founded nine years ago, Langton London was purchased recently by JMG Group.

It grew from startup to £7m gross written premium, and managing director Eddie Ferrao says: “We focus on trust, accountability, and supporting each other, which helps us retain good people and deliver consistently high levels of service to our clients. Skills are important, but attitude and collaboration are what really drive performance.” 

He concludes this is combined with technology “to support people, giving them more time to focus on providing expert advice and outstanding client service”.

No matter what the future throws at them, history has shown brokers know how to build resilient businesses, whether they choose to sell or not.

Join the debate: Sign up to attend the Broker Expo on 8 October at the Birmingham NEC

The session ‘Building better brokerages – leadership, talent and technology’ takes place at 11:45AM – 12:15 PM on the C-Suite Stage