market talk
QBE extends sports sponsorship Record month for Coversure Lorega provide LRI online
QBEsupport for grassroots rugby
I
nsurer QBE seem to be well into the sports sponsorships these days. There’s Transatlantic rowing and rugby, but it was their support for grassroots rugby earlier this year that prompted a few enquiries with Helena Christopher, head of corporate communications at QBE European Operations. She linked QBE’s four-year deal with the President’s XV Awards with “the strong belief of rewarding entrepreneurialism and strategic thinking. As a specialist business insurer, that prides itself
seeing things differently, the awards are a good fit for QBE. In addition, the scheme enables us to engage QBE employees in our sponsorship of rugby; something that is incredibly important to us.” The RFU initiative aimed at rewarding initiatives that promote grassroots rugby, providing cash sums for voluntary projects run at rugby organisations. That support runs alongside QBE’s Official Insurance Partner status of the Guinness Premiership and England Rugby.
Since then new initiatives have
Loregagoonline withBroker2Broker B
rokers who may place loss recovery insurance
infrequently will be pleased to hear that the existing delegated authority agency facilities offered by loss recovery insurance (LRI) specialist Lorega have been
supplemented by a deal struck with internet trading solution Broker2Broker to enable brokers to bind business online. Malcolm Harvey, chairman
of Lorega believes that placing cover can often seem a time consuming task. “So we are working with Broker2Broker to offer brokers a more efficient electronic route via
LoregaOnline. This move will especially help those brokers who only sell a few LRI policies each month as there is no requirement for a minimum level of support.”
The new service offers brokers 20% commission on all Lorega products, 24/7 underwriting access, full technical support during normal office hours and free access to the full range of Broker2Broker on-line insurance products. Brokers who wish to access Lorega’s LRI products via the Broker2Broker system need to complete a new LoregaOnline terms of business agreement and agency application. Upon successful completion of this process the agency will be opened within 24 hours.
8 insurancepeople JUNE 2010
in association with
been forged. Support of its 2010 chosen charity - Help for Heroes - was announced in May with two QBE branded bi-planes due to fly at ‘Bugles at Dusk’, the charity event held in May 2010 at Royal Flying Corps Rendcomb Airfield. The two planes were set to fly alongside a Spitfire from the Battle of Britain Memorial Flight. Also in May Andy Key of Leeds Carnegie was awarded the QBE Director of Rugby of the Season Award at the Guinness Premiership Awards in London. I couldn’t resist asking Ms
Christopher, “QBE is Australian. How do you explain supporting the English?”
“Although QBE is based in Australia, it is an international insurance group,” she explains. “We have offices in 45 countries
Helena Christopher
across the world and do business in over 100. We have been providing insurance support to businesses in the UK for over 100 years, and would like to continue to expand in this market, so it makes sense for us to develop these partnerships.”
Bright future for franchise model
T
he broking franchise model has a bright future, according to Coversure’s franchise director Bob Darling. Citing the British Franchise Association’s 26th survey on the state of the franchise market, he links Coversure’s third successive record month with the optimism of the survey which reveals that the franchise industry contributes £11.8bn to the UK economy, and that 30% more franchises are profitable compared to the last recession.
“Looking to the future, 94% of franchises are ‘optimistic’ about the future. That is certainly the feeling at Coversure. A number of our branches are seeing the benefits of increased marketing and additional products. The positive atmosphere seems to have helped us to grow,” says Mr Darling. “The franchise model makes the most of centralised support and economies of scale, while benefiting from the
enthusiasm and professionalism of local business people running local businesses.”
Bob Darling
The survey also noted that franchisors and franchisees are expecting growth, with
franchisors, on average, planning for 8.8 additional outlets. “We are seeing more enquiries than ever, and expect to open a number of new outlets this year,” says Bob Darling “We have an office opening in Tamworth in June, and there are a further three going through the FSA process at the moment.”
See
www.coversure.co.uk
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