“A lot of people would be surprised at how broad our client list is.”

After 15 years as a chartered surveyor, James Prewett became an Agent of NFU Mutual in Hampshire in 2017. Since then, through growth and mergers, the business has expanded from two partners to three and grown by over 275%. We talked to James about what attracted him to NFU Mutual and life as a self-employed Agent.

James, moving from chartered surveying to being a self-employed Agent of NFU Mutual sounds like quite a switch. What attracted you to it?
Well, although I was a chartered surveyor, it was in the rural sector, so I’d probably be described as a land agent, selling farms and estates around the country. I also grew up in a farming family, so I was aware of the NFU Mutual brand and had an understanding of corporate structures and client management.

The self-employed proposition from NFU Mutual was different to anything else out there. I liked the element of control, building a business and having more autonomy over any rewards – you don't get that in a pure corporate environment. And I could put the hours in while being more present for my young family as well. And, unlike a franchise or starting a business for yourself, you effectively have a book of business, a team and a brand. So, it also gave me the opportunity to grow. Effectively, NFU Mutual told me I'd have the opportunity to develop and do other things – and that's exactly what has happened.

Although I had a farming background, I don't think you need that to be an Agent of NFU Mutual, particularly in larger agencies where there’s a farming partner to protect, maintain and look after our farming customers.

It sounds like your agency has grown rapidly – tell us about that.
We’re the Hampshire West Agency, with sites in Winchester and Wickham, near Portsmouth. I started with one partner in 2017, now, there are three of us and we've grown the business by over 275%. So, we've had a lot of growth during that time, and we're in the process of growing again, with another merger.

It takes time to build the right partnership – one of my current partners started as an employee at NFU Mutual and they've grown into being an Agent, which is great. And the other partner came from the wider insurance market and now manages the agency. It’s a unique model and, like all partnerships it’s important to really get to know your partners and ask the right questions at the start.

What kind of clients does your agency work with?
I think a lot of people would be surprised at how broad the client list is. We work with celebrities, High Net Worth individuals, businesses with more than £150m turnover, as well as a lot of small to medium-sized enterprise (SMEs) and tradespeople.

A third of the clients are commercial, about a third are farming or connected to farming, and a third are commodity personal lines. But we're focusing on growing our wider commercial book. That can be farm-related, such as landed rural estates or corporate farms, as well as property and food businesses. We’re aiming for 60% of our business from commercial clients, including those farm-related businesses – and we’re nearly there.

I think it does come down to the individual and if they understand NFU Mutual’s strengths. I’d say that we're certainly getting quite a bit of recognition among commercial clients now – it’s a challenge, but it's a challenge we enjoy, and we've got the products to back it up. So, it’s improving all the time.

We offer clients continuity. And our mutuality means clients become an NFU Mutual member when they take out their policy, so they benefit from the mutual bonus structure. At a corporate level, clients also appreciate the direct relationship they have with both the Agent and the underwriter, which means our understanding of their business is second to none. And we can demonstrate a direct connection to the risk and underwriting, and a balance sheet that shows our ability to pay claims. At a large corporate level, I think that’s pretty unique, and it helps us to build trust with our clients. The retention rate of commercial clients currently stands at 95%, so they can see we provide consistent, high-quality service.

And how, specifically, does NFU Mutual help your business to be successful?
They're very supportive and the support can come in a number of different ways. With a business plan that demonstrates both the growth of your business and the NFU Mutual Agency Network values, you could receive investment in additional staff, technology, or marketing initiatives to help you achieve your goals.

So, there is a whole suite of things they do, but it’s done on trust, with an open, two-way relationship, where you maintain your self-employed status, from a privacy, output, and regulatory point of view.

It sounds like you really enjoy your role – what do you enjoy most about it?
I think the enjoyment comes from advising such a diverse range of people and protecting everything for them in the right way. But I also think there's that sense of locality and the mutuality. I absolutely believe in the NFU Mutual brand, and the way we look after clients.

And from a personal point of view, being self-employed means I’ve got the flexibility to go to a school sports day or whatever and spend more time with my family. So, I enjoy the flexibility, as well as the feeling of growing my own team and serving a diverse client base with the backing of NFU Mutual.

James has developed a strong future for himself and his agency, with our support. Want to find out how you could build your own future as a self-employed Agent of NFU Mutual? Discover more here.