Arista Insurance has begun implementing a range of measures to prepare the company to double business volumes by 2014.
This will see Arista further develop its operations and embark on a recruitment drive to appoint high quality underwriters and related staff to manage the increase in business volumes.
A key element of the strategy will be to build on existing broker relationships to gain the additional business. To do this Arista will continue to work closely at an individual level with brokers and carry out detailed research to understand how Arista can become an increasingly important core commercial insurance provider to them.
Crucially, Arista has been refining its operations and will be enhancing its technology to ensure continued efficiency as the business grows. Developments include improvements to Arista’s online trading, its claims service and revisions to regional operational structures to manage the growing and changing demands from brokers. Staff development and career progression through training and managed structural evolution is also being implemented.
New products and services will be launched following close consultation with brokers and as opportunities are identified by the research. Arista is not looking to significantly expand its current independent broker panel and branch structure.
Although only in its fifth year of trading Arista is confident that its ambitions are achievable having already become a top five UK MGA in this short period of time. The governance structure is already in place to support the larger business and the management team have managed commercial operations far larger than Arista.
Chief executive Charles Earle said: “The first years have been about putting essential building blocks in place as we established the business, gaining credibility and latterly refining our processes to take account of our renewal book and to be as efficient as possible. Arista is now trading profitably and has demonstrated underwriting discipline. Now the business is ready for the management team to do to what we have done successfully before which is take a robust business and maximise its potential for the longer term. Many of the team were responsible for the growth of the NIG commercial business to around £500m GWP so we and the business are now ready to take things at Arista to the next level.”
Source : Arista Press Release