A valuable distribution proposition for brokers and insurers alike

April 30, 2020 Claire Faulding

Keychoice’s 25th year in business saw the appointment of Claire Faulding, to the role of Head of Keychoice and commercial e-trading. Claire tells us how the new dedicated team and growing range of products are helping brokers continue to drive value from their Keychoice membership.

Keychoice is a unique insurance distribution group owned by SSP. We have been offering enhanced trading solutions since 1994, to help brokers grow and develop business.

Having worked closely with the Keychoice team for many years through other roles at SSP, I was delighted to take on the Head of Keychoice position during 2019. As a part of SSP that has now been operating for 25 years, Keychoice plays an incredibly important role within the SSP broker proposition and I know how important Keychoice is to our brokers, so I was excited at being given the chance to develop Keychoice further and to make the most of the opportunities available.

One of the first areas of focus for me was to ensure we had a dedicated Keychoice team who understood the significant potential that Keychoice offers for both brokers and insurers alike. Martin Randall and Brad Hudson, previously training specialists within SSP, joined the Keychoice and commercial e-trading team to offer our nationwide network of members the support they need in terms of getting the most from their Keychoice membership. Working as business development specialists, Martin and Brad are available to support and visit brokers up and down the country, educating them on the full range of Keychoice and commercial products and services available.

We’ll continue to grow the products and services available through Keychoice during 2020 and will be using the recent feedback from our products and services survey to help us focus on our brokers needs.

As well as supporting brokers, we also manage relationships with our wide panel of Keychoice insurers and service providers. Myself and Richard Myers, SSP’s Relationships Manager, are responsible for all Keychoice partnerships. By building successful partnerships it offers unique opportunities for inspiring innovation creates new services and provides niche products for our brokers.

Another new initiative that myself and the team helped to instigate, was the launch of a programme of webinar events. This is a new channel of engagement with our brokers whereby we can promote and launch new products and services for both Keychoice and SSP. These webinar events have been a big hit with both our broking customers, who get to learn more about the products and how they can be traded, but also with our insurer partners who need to promote their products to the Keychoice and SSP broker community. So far we have covered several products for Keychoice including RAC breakdown, Excess Protect from All Broker Services, QBE’s commercial products, integrated payments with Global Payments and travel insurance from SunWorld. We are continuing with our programme of webinar events in 2020, and these will become more regular as we develop and grow our Keychoice offering.

During 2019 we remained focused on growing the Keychoice insurer panel and introducing new products, with both new and existing partners. We boosted our offering with the addition of the excess protection product from All Broker Services and also enhanced the guaranteed replacement vehicle policy from AIMS. We’ve added an additional commercial vehicle product via new Keychoice partner NIG, as well as a range of protection policies from Best Insurance. We are also now offering Keychoice members access to a highly competitive travel insurance product from new partners, SunWorld.

As well as growing our insurer panel, we’ve also continued to focus on adding value to members via our enhanced services for members. In May, we partnered with Howden Insurance Brokers to be the preferred provider of Professional Indemnity Insurance for Keychoice members. In July we renewed our partnership with Close Brothers Premium Finance to continue offering Keychoice members access to an integrated premium finance solution through their SSP back-office system.

We’ll continue to grow the products and services available through Keychoice during 2020 and will be using the recent feedback from our products and services survey to help us focus on our brokers needs. Feedback from our members is very important to help us shape our offering, so we’ll be asking for more comments and responses to our surveys throughout 2020. We are also looking to reinvigorate our Keychoice broker forum, using more digital channels to gain feedback on specific products and services. If you are a Keychoice member and would be interested in being part in a forum, that can help steer our direction, then please get in contact.

In terms of the products we are already working on, I can tell you new and innovative products are going to be at the top of our list. A cyber offering is something many brokers have been asking us about and we are already working with a provider to deliver something in the first half of the year. We also have some other exciting innovative solutions coming, such as our new quote trading platform, and you’ll hear more about that over the coming months, so watch this space.

Visit Keychoice.com

This article is an extract from SSP eye issue 13

About the Author

Claire Faulding

Head of Keychoice and Commercial E-trading — Claire joined Keychoice in May 2015 and brings a wealth of operational, product development, online development and general wholesale broking expertise from her former roles as a Head of Projects and Operations at Marsh Networks and formerly as Chief Operating Officer with the Intermediary Marketing Division of HSBC Insurance Brokers.

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