Gauntlet Group AR Network, the most innovative appointed representative network in the insurance sector, has launched a campaign intended to bring ‘ghosted’ insurance brokers back from the ‘other side’ and give them a new lease of life.

Gauntlet Group AR Network has produced a suite of marketing materials that highlight the predicament of a large number of small, independent local insurance brokers who went down the directly authorised broker route and have now been ‘ghosted’ by the industry, due to their size.

These brokers are unable to gain access to insurer agencies, as the premium income demands of insurers in exchange for an agency are too high and unrealistic.  They are often unable to get access to affordable PI cover and also struggle to afford to pay for insurance-sector IT systems.  They soldier on at the heart of their communities, trying to do the very best for clients, but have been blindsided by the industry’s abandonment of them.  They are too small to attract consolidator interest and exist on the fringes, with little support or encouragement.

That is, until now.  Gauntlet Group is going all out to rescue these ghosted brokers and give them the lifeline they require, by bringing them back into the insurance fold as Appointed Representatives.

How directly authorised brokers can become Appointed Representatives  

Gauntlet has seen its model of broker de-authorisation – Gauntlet De-authorisation Fast-track, able to move directly authorised brokers to a new status, as an AR, within just 8 weeks.  This is, in part, due to great co-operation with the FCA in the period when such a groundbreaking model, unique to the UK, was being introduced.  As a result, Gauntlet is ready to up the ante, to help stop local communities becoming ghost towns.

It is encouraging more ghosted independent brokers to be a part of its dynamic local broker renaissance, to escape their woes and be equipped to carry on broking.  In doing this, it hopes to ensure communities and businesses can still gain the huge benefits of having personal contact, with a dedicated local broker who views and fully understands a risk inside-out.

Gauntlet is also striving to deliver the very best version of Customer Duty through its thriving network of local brokers, which stretches from Scotland to the south coast.

Benefits of de-authorising for small directly authorised brokers

The benefits of becoming unghosted with Gauntlet are clear to see and appreciated by the directly authorised brokers who have already come back from the other side, to become an Appointed Representative.  These brokers have instantly tapped into hundreds of insurer facilities and policies and provided real choice to clients.  They have also been given PI cover and access and training not just in Acturis IT systems, but ones specially tailored by Gauntlet, to drive its brokers’ growth.

They are also able to actually focus on what they love doing – dealing with clients – rather than administration, accounting or compliance reporting, with all of this, and even broking if they wish, handled by Gauntlet.

They gain training support and can come together with like-minded local brokers at three conferences and sales events organised by Gauntlet during the year, all of which seek to help local brokers within the AR network grow their businesses.  These events also provide great opportunities for peer networking, so formerly ghosted brokers feel even less out on a limb.

In addition, they know there is an in-built exit strategy for Gauntlet ARs, who can discuss a full, partial or staggered sale of their business to Gauntlet, when they feel the time is right for them. This also provides the peace of mind of knowing loyal clients will see few impacts when the day for their retirement comes, given that Gauntlet is already handling much of their paperwork and broking.  The transition is seamless.

Why the Gauntlet Appointed Representative network wants to end small broker ‘ghosting’

“The insurance industry has ghosted brilliant local brokers who embarked on a directly authorised course, believing that would serve them best, but have found themselves struggling to get support, agencies and indemnity cover and more or less treading water.  Life has become one spent in the doldrums, with little opportunity to generate new sales and income, and virtually no chance of enjoying a holiday or taking time off sick,” says Roger Gaunt.

“We have stepped in, created a solution for ghosted brokers, road-tested it with a variety of such former directly authorised brokers and are now able to deliver an escape option for these smaller local brokers within just 8 weeks.  They are typically brokers with a premium income of around £500k – £1 million, but we can handle any size.

“They stay fully FCA-compliant throughout the process and can start to plan for a vibrant future as an AR.  Whilst they may fear that they will take home less income by doing this, those brokers who have made the move are actually better off, or no worse off, and have much more time available to them, having delegated all of their compliance, administration, accounting and IT to us to manage.  They are fitter, leaner and, according to what they tell us, now truly enthusiastic about their future and free of stress.”

Appointed Representative opportunity for start-up brokers

Unghosting brokers is just part of Gauntlet Group’s network growth strategy.  It is simultaneously continuing to spearhead the local broker renaissance on behalf of start-up brokers and brokers switching from other networks.  It has invested significantly in systems and growth strategies that enable it to be the only network that truly partners in an Appointed Representative’s growth and is seeing its brokers flourish, thanks to all it is doing to drive the renaissance.

“Whilst being accepted as a Gauntlet AR means an individual has to be a true professional, adhere to our high standards and supply all we need, to maintain our deep commitment to compliance and client service, ARs are given space, support and room to grow their businesses as they wish,” says Roger Gaunt.  “They can choose to trade under our name, or one entirely of their own choosing, and can benefit from all of the latest industry knowledge, which is delivered at our events but also on a daily basis, through their support team.

“They also benefit from another difference and advantage of being in our network – working with a principal that has a direct sales team and is a broker in its own right.  That enables us to road-test sales campaigns for our ARs and give them the blueprint of the most successful ones, to roll out themselves.  It’s a perfect set-up, whether you are a ghosted AR or someone just wanting to establish a broking business.”

More information about de-authorisation and the AR network is at www.appointedrepresentatives.com whilst the drive to put local brokers back on the map is communicated through the consumer-facing website, www.gauntletgroup.com