Finance Monthly - Insurance Awards 2022

Alan Boswell Group are something of an anomaly within the insurance broking industry. A genuinely independent insurance brokers, without a global entity hiding in the wings, or a vast amount of venture capital demanding return on investment. Instead, they remain privately owned and committed to delivering on their promise of exceptional customer service. “The broking landscape is now dominated by a handful of truly enormous firms, who are naturally driven to deliver shareholder value. The temptation on these firms to find ways to increase revenue and reduce costs is huge and inevitably can lead to a reduction in service levels. We’re lucky enough to not have those additional pressures.” Says Alan Boswell, Executive Chairman at the Norwichheadquartered insurance and financial planning group. “We’ve taken a less-trodden route to growth, preferring to focus on client needs and ensuring our service levels remain high. It’s a simple mantra; keep our customers happy so they stay with us and add a few new customers each year.” It’s a mantra that has seen the group report annual growth in every one of its 40-year history. So, where did it all start? Alan launched Alan Boswell Insurance Brokers as a sole enterprise in a small town in Norfolk in 1982 and within a few years was also offering financial planning services, with the addition of Alan Boswell & Company. Several local acquisitions saw the group grow in terms of headcount and Gross Written Premium and by 2016, after the acquisition of Cambridge-based brokers, S-Tech, had increased its roster to over 300, with premium of more than £100m. “We only ever consider an acquisition if the company has the same culture as us. We need to know that they will fit in alongside us and not create division or disruption. Our reputation took years to build, and we wouldn’t want to do anything to risk that. But, when a compatible company comes along, we’re always open to the opportunity. We’ve never made anyone redundant after an acquisition and we have Finance Monthly Insurance Awards 2022 United Kingdom 31

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