The broker targets the corporate market via a conceptual review process. They ensure that they are appointed prior to the renewal date so that the market is not muddied by two or three brokers all approaching for terms.The broker has good gravitas in the marketplace and their operational structures and procedures are well established. They approach a fairly small number of sectors but cover all of the UK.

The prospect database was obtained from both new purchase and existing data held by the broker. Prior to starting the appointment process we worked to secure a large amount of accurate data, such as the decision-maker’s name and position, the renewal date, turnover and/or premium. This meant that we were well positioned to approach with the right amount of time before the next renewal to permit a relationship to be established in plenty of time.

As our work was not renewal date focused we were contracted for a nine month campaign. In this period we secured 33 appointments with an average premium of £74,485. Assuming a 1:3 close rate this provides for forecast net commission of circa £810,000. The EXCEL fee was £30,000.