At NFU Mutual, we recognise that our customers have a wide range of insurance needs that sometimes, NFU Mutual products may not be able to meet. That’s where our Wholesale Broking and Outplacement teams come in. Supporting our UK-wide NFU Mutual Agency Network the team sources wide-ranging cover that we don’t ordinarily offer. As intermediaries for our agencies, they’re known as National Intermediary Services, or NIS within the business. NFU Mutual Agents can contact NIS with any complex or unusual requirement, and they’ll go out to the wider insurance markets to find the best product for our customers. We talked to some of the NIS team about working with agencies and how the whole process works.
Covering complex client needs
Head of NIS, James Pickering says there are two key areas where we support gap fill – products and risk appetite “There are products that NFU Mutual don’t manufacture, such as directors’ and officers’ liability, professional indemnity or cyber risk. Or in marine, covering vessels and cargo. But there are other products in the market that cover these areas, so we select them from well-regarded providers and give our agencies access to these products to fill those gaps. Or where NFU Mutual may not have the risk appetite to cover a particular customer, due to the nature of their business. If that was the case, we’d find another insurer prepared to cover the whole risk, or we’d share the risk with them.”
He says the NIS services give NFU Mutual and its agencies a big advantage. “It’s almost unique among insurers. Any Agent from our UK-wide Agency Network can approach us to find a solution in the wider market for a new customer. It helps to retain business too, because customers don’t have to go to our competitors to get the coverage they need.”
A range of services for the NFU Mutual Agency Network
Sharon leads the NIS Sales and Service Team. “We handle new business quote requests, provide renewal terms and deal with mid-term policy adjustments for our Agency Network,” she says. It’s a growing team and she explains that one of the main reasons for this is the continual trend towards diversification among NFU Mutual customers. “For example, if a farming customer decides to turn some of their land over to office development, that changes the risk associated with the business. We’re seeing a lot more of this kind of diversification.”
Sharon adds that the NIS team also has a lot of technical know-how, so they’ll often offer agencies advice on a particular customers’ requirements, as well as providing products. “This can often involve a lot of close support, particularly in more complex or specialty areas of insurance. If it’s a complex requirement, it might take a few weeks to get an answer, so we’ll help them to manage their customer’s expectations.”
David says this is a major part of his role as a placement consultant. “We support the agencies with our market insight and technical knowledge. So, on a larger case, we’ll understand the potential risk involved and know the right questions to ask. This means we can present it to the insurance market in the way they expect, so we can get the best solution for the customer.”
Knowledge-sharing, as well as practical support
Kelly is a member of the supply chain team, acting as an intermediary between the agencies and the external market. In her role, she’s in contact with agencies on a daily basis. “We do a lot of training with our Agents about our products, to give them insights into how they can benefit customers. We also manage day-to-day technical queries and claims from agencies. It’s all about giving our Agents the technical knowledge they need to confidently talk to their customers about products.”
Another member of the supply chain team, Mohammed, says he regularly goes out of his way to give agencies the information they need. “I’ll often take a long time on the phone with an Agent, helping them to really understand a problem, so they can explain it to the customer. I get a sense of achievement out of helping Agents expand their knowledge.”
Kelly says she enjoys taking roadshows out to meet Agents and getting their feedback. “That’s vital, because the back and forth helps us understand things from the Agents’ perspective, which benefits everyone. For example, you might run the risk of spending a long time on something and then the Agent says it’s not right for them, so that two-way process is important.”
Business development consultant Eloise spends a lot of her time on the road, visiting agencies. “I do a lot of training with the Agents to help them understand products such as directors’ liability or cyber risk. I also visit customers with the Agents to find out what they need, and feed this back to the NIS teams. It’s about giving a personalised service to the agencies and the customers, which I think differentiates us.”
As Head of NIS, James says that his main aim is to deliver a high quality, varied and knowledgeable service to the NFU Mutual Agency Network. “More NFU Mutual customers are specialising, becoming bigger and more complex. So, we’re handling more unusual requirements with diverse risks that require specialist solutions. As our customers' needs continue to diversify, we're proud to diversify with them. We're set to almost double the size of the NIS team over the next five years so we can continue to deliver a fantastic service across our UK-wide Agency Network.”