The Business Exchange Bath & Somerset Issue 15: Spring 2020 | Page 17

IN PROFILE IAN SANDHAM MARK RICHARD INSURANCE How long have you worked in the insurance industry? I started work in 1984, straight after A levels, so a scary 36 years! How did your insurance career begin? Many of you may recognise Ian as a friendly face on the Bath networking scene. For the last six years, Ian was the face of Bluefin Insurance (now Jelf) as Branch Director for the Bath office. Ian has recently embarked on a new journey as Operations Manager for local, independent broker, Mark Richard Insurance. We grabbed a coffee with Ian to find out more about him and his ambitions for Mark Richard Insurance. My first job after school was for a haulage firm in Avonmouth as a trainee traffic manager. I realised after a few months that this was not for me, so I left to join NFU Mutual as a professional trainee in the motor and personal insurance department. I had a great three and a half years with great training and good progress towards my professional qualifications. I left in 1987 to join an insurance broker in Bath as I wanted a fresh challenge and a career advising clients. My previous experience and technical knowledge helped me to quickly progress and I became the commercial manager there within the year. This was the start of my career advising businesses on their commercial insurance needs and I learned fast from experience and from my colleagues. I joined another broker in 1990 in Bath before starting my own brokerage in 1992 with two other partners. In 1996, I joined a national broker in Bristol to gain experience of larger corporate business and they ultimately became part of an American giant broker. My role changed in 2013 when I was appointed as Branch Director of the Bath office which returned me to the same building and many old colleagues after a gap of 22 years! Of the five brokers I have worked for, all but one were acquired ultimately by Marsh, which shows the consolidation in my sector. What do you love most about what you do? I am a people person, so I love helping clients to get the cover they need and to help them when they need it the most. I get a real kick out of resolving complex claims and getting the client the outcome they are entitled to. Similarly, I thrive on helping colleagues to learn new skills and acquire knowledge, so I do a lot of training and coaching. The moment when the light bulb lights up is brilliant and I know then they will take on and use the new concept. For the past seven years I have been very involved in the business community in Bath and have really enjoyed the connections I have made and the charities we have helped. My team and I have volunteered for local charities and taken part in numerous fundraising events including sponsored walks, dressing up or down, cake sales etc. I had the honour of handing over a big cardboard cheque to the Forever Friends appeal which was fab. Having worked for some of the industry giants - what attracted you to Mark Richard Insurance? I wanted to work for a local business that is genuinely committed to being a community broker so I could continue my work serving Bath businesses. The Mark Richard office is in Warmley, which is only a 15 minute drive from my home, and close to Bath. I also have a really interesting role, helping the business operationally and mentoring staff plus the client work I love. In short, I have found the ideal job! What’s different about Mark Richard Insurance? We are an independent family owned firm, but have sufficient scale to compete on equal terms with the bigger firms. The real difference though is continuity of service with each client. Each has a designated account executive who knows their business and personal insurance needs. So, unlike the call centres operated by many of our competitors, our clients benefit from long term relationships as most of our staff have been with the firm for more than 10 years, three of which over 30 years! For more info: www.markrichard.co.uk of the local business community and be the go to place for businesses who want a personal service and insurance covers tailored for them. As part of this, we are looking at collaborative initiatives with other organisations in Bath with the same aims. Ultimately, we want to grow our business by winning more clients and employing more people. What do you believe has been your key to success in insurance? I am passionate about getting the right cover with the right insurer for my clients. This means really getting to know what a client needs rather than simply offering an alternative quotation. Put simply, I get it right first time so that when the claim is made, the insurer has no option but to accept the claim. This consultative approach is of real value to clients and leads to long term relationships. Are there any changes coming into play in 2020 we should be aware of when renewing our policies? Leaving the EU is going to create new opportunities for all businesses that import or export. Whilst most policies provide cover throughout the EU as standard, businesses will increasingly be dealing with customers and suppliers further afield so need to check if their insurance covers these additional territories. The UK is the largest provider of insurance in Europe, but It remains to be seen what deal will be signed with the EU about the financial sector from 2021 and this could also have an impact. My advice is to ask your broker to check your insurer’s position on this. Are there any new policies being released onto the market? Cyber is not a new policy, but most businesses still do not have adequate cover for a data breach or cyber attack. There are some really innovative new products available that come with risk management tools to help you avoid an attack in the first place. This is well worth a review now before the inevitable occurs. If you could offer one piece of advice, what would it be? Review your insurance covers against what you actually need. Many businesses simply keep renewing something that may be ok, but equally may have a major flaw. For example, around 50 per cent of buildings are under insured. Mark Richard can help you conduct an audit. Tell us something we wouldn’t know about you I am the Chairman of the EAGB which is a business networking association helping businesses to grow their businesses through referral and recommendation. I love networking and meeting other businesses so am active in the business scene attending events each month. If you could invite any character in history to your next party, who would it be and why? I am a proud Welshman and rugby fan with a Bath season ticket so it would have to be Luke Charteris who has played for Wales and Bath so would have lots of brilliant stories. I would be fascinated to hear about his transition from player to coach. To get in touch with Ian, email: [email protected] or call: 0117 947 9514 What are the ambitions for the firm? We want to build on our presence in Bath to become part THE BUSINESS EXCHANGE 2020 17