Growth through service

FMW Risk Services has four specialist divisions: transport and logistics, specialising in car transportation, freight forwarders and general haulage contractors; construction and specialist liability, which looks after all aspects of the construction and high-risk liability trades; property owners, manufacturers and small to medium-sized enterprises come under property and corporate risks; and its newest division - the media team - specialises in digital interactive broadcasters and associated companies.

Peter Blanc, managing director of FMW, believes its rapid growth is down to its service. He says: "Our mission statement is growth through service excellence. We service clients on a cradle-to-grave basis, so an account executive wins the business and is then responsible for the overall management of that account. This leads to consistent service levels and high client-retention rates."

FMW holds face-to-face client meetings at least twice a year and tailors its client programmes to meet their individual needs. Such a bespoke approach is beyond the reach of the major nationals according to Blanc. He believes there is a growing demand for good-quality brokers in the mid-range commercial market.

Blanc argues: "Our speed, above all else, enables us to compete effectively with the major national brokers. It is no surprise that the nationals are losing their share of the mid-range commercial market." He adds: "Significant businesses employing more than 50 staff simply do not have the time or expertise necessary to place business effectively. We add significant value to mid-range commercial clients who look to receive an extremely rapid, high-quality and personal response to every enquiry."

In addition to an account executive, each client is allocated a claims handler. Blanc says: "This is a real benefit to the vast majority of our clients - people are sick and tired of touch-tone phone messages and call centres; technology should be enhancing customer service not detracting from it."

FMW has equipped its external sales force with Blackberries, enabling instant mobile email communication. Clients can also access FMW's health and safety website for real-time health and safety advice and is in the process of updating the remainder of its website to offer more added-value benefits.

Blanc says: "FMW's staff retention has been superb over the years and nearly all of the original 27 employees from the management buyout are still with the company today." To attract a constant stream of promising account executives, FMW has set up a youth academy to take on graduates.

The academy provides intensive training for 18 months, during which graduates experience all aspects of working life at FMW from broking through to claims. Those that reach the requisite standard are then gradually introduced to securing new business and developing their own portfolio of clients.

FMW's compliance manager, Peter Clarke, has also taken on two additional staff to undertake compliance auditing work.

Blanc says: "Hopefully, Financial Services Authority regulation will improve the overall professional standing of the industry and the benefits of this will one day offset the cost of regulation, which is significant."

Despite increased opportunities for acquisition pending regulation by the FSA, the firm has focused on organic growth.

Blanc says: "We believe acquisitions are best left to the experts such as Oval and Folgate; we have built up an adage that we will concentrate on winning the business - they can concentrate on buying the business."

Blanc believes that FMW will continue to see strong growth despite the current market softening in premiums across all four of its divisions.

"While it makes a pleasant change to be able to give clients some good news, we are acutely aware that a softening market can rapidly turn once again. Through service excellence, FMW is able to justify charging fees to help offset the reduction in commission levels during the current market downturn. We also aim to secure additional clients to help offset any reduction in our existing book. This will leave us in a strong position when the market hardens again in a year or so."

FMW RISK SERVICES

Managing director: Peter Blanc

Number of offices: One

Location: Chelmsford, Essex

Number of staff: More than 60

Lines of business: Commercial

Gross premium income: £26m.