Caerphilly does it

The Thomas, Carroll Group is located overlooking the imposing medieval castle in Caerphilly, South Wales. Founded in 1972 by its chairman, Evan Thomas, and the late Terry Carroll, it has occupied a number of offices across the principality, but now operates from one centralised purpose-built building.

As the largest commercial broker in South Wales, the fact that it is located outside the capital is surprising. However, TC chief executive John Moore says that Caerphilly provides many benefits: easy access to Cardiff and the surrounding area and a pleasant place to work.

TC has a mix of 70% commercial and 30% personal lines, much of which is associated mid net worth business. Its personal lines business is successful and growing, receiving large numbers of customers through recommendations.

Moore says: "We have an excellent knowledge, not only of our own offering, but also of direct insurers' - so we can quickly point out advantages to clients, even if the cost is higher. People don't mind paying a bit extra for quality."

Nevertheless, Moore recognises that some clients want to buy cover online and has set up an online trading facility - Internet Insurance Brokers (www.internet-insurance.co.uk) - which currently offers home insurance and mortgage advice through TC's sister company, TC Independent Financial Advisers. It plans to extend the range of products available on the site later this year.

TC recently invested £250,000 updating its IT platform and benefited from a £50,000 grant from the Welsh Assembly. Moore says: "All our systems are now automated, so we work more efficiently - leading to improved client service and more time to generate new business."

TC has more than 7000 commercial clients based within 30 miles of Cardiff, and Moore argues that its success with commercial clients is down to its personal touch. He says: "We visit clients frequently and we produce detailed risk presentations. As a result, we often win clients over national brokers. We invite insurers and clients to our office on a regular basis. We believe it is important for them to see who they are dealing with."

Although TC has no plans to join a network, it is a member of Unitas, a group of 11 provincial brokers that work closely together on research and development projects - its latest task concerns members' compliance issues. TC is also learning about compliance from its sister IFA company.

Future-proofing

TC has a formal succession plan in place to take the company forward. Shares are being gradually transferred to its younger directors during the next four years. Also, all staff have preference shares, receive dividends and have access to open accounts. Paul Gardner, sales and marketing director, says: "The plan deals with management succession at all levels of the organisation. It gives employees confidence in the business and helps us to recruit the right people. It also gives our clients and insurers confidence, as they can see we are investing in our business."

Moore says that TC has not had any problem recruiting and puts this down to the way it looks after its employees. In addition to shares, the company gives a corporate health club membership to all its employees and recently brought in a health and wellbeing consultant to talk about diet, exercise and stress management. Moore says the talks were popular with staff - who have since replaced the sweets and chocolates that were passed around the office with a large bowl of fruit. He explains: "We are mindful of the pace we all have to work at nowadays and the stress that goes with it, and it is important that we not only work hard but also relax and take care of ourselves.

"The social side of TC is important - we like to think there is a good buzz in the office. We have a social committee that organises events and we are involved in fundraising for a number of local charities."

TC has an eye on a number of potential acquisitions, but is concentrating on growing the business organically. Moore is not ruling out "crossing the bridge" into England - but he thinks there will be plenty to concentrate on in South Wales in the next three years.