A new IAA partnership is forged.

On September 30 2011 two 30 something kids from The Manning Valley kick started their own business. It was a simple little day which involved sitting in our dining room with the sounds of Dora the Explorer in the background and a highlight being getting the head shots taken. 3 years on I don't think we've changed much aside from a few more grey streaks that seem to be permanently etched into the side of my head.

How time has flown. From our dining room we moved to the formal lounge room and set it up as a separate business centre. Then some 12 months later our first major step when we opened our first physical office above the RTA in Macquarie Street Taree. We have been in this location for just on 2 years now and love meeting with clients in our informal meeting room or putting together green slips for the community.

So as we celebrate our 3rd birthday today we are pleased to announce the next chapter in our business. Effective tomorrow October 1st 2014 we take possession of Bowen Insurance Brokers of Stroud in The beautiful Upper Hunter Valley.

This business is one we made contact with when we first commenced in 2011. Part of our long term business planning involved a number of possible strategic acquisitions and this was a key one for us. Bowens has been run from Stroud since - wait for it - 1958!! Ted & Gwen Bowen have provided General Insurance advice and protection to the areas of Gloucester, Dungog, Raymond Terrace, Port Stevens and surrounds for 56 years. This is an achievement that has to be applauded. They have run as an independent brokerage for the entire period which again in this era of compliance and legislation is an amazing feat.

This business has protected the community for over 56 years! Here we totter like a three year old toddler and have to now work closely with the Bowen clients who have been loyal to them for so long. Its a thrill and a challenge! Also its an honour to be given the opportunity to take over from where Ted & Gwen left off. We are taking this very seriously and look forward to meeting so many of the locals and assisting them with advice and the right level of protection.

For them to have run such a strong family oriented business for 56 years and then entrust it to us is something we are extremely humbled by. The business will remain based in Stroud with local employees Bruce Bowen & Paula Tolhurst joining our team. The experience of these 2 is vital to the long term success of the company and they should also be applauded for their role in Bowen IB. Whilst Ted & Gwen have had some health issues over the past few years it has been Bruce & Paula who picked up the ball and ran with it. They enabled the business to continue whilst also assisting in the care and well being of Ted & Gwen. We congratulate all from Bowen IB on 56 years and thank you for entrusting the business with us.

So what does all this mean? Put simply when we started 3 years ago we had a very clear and concise business plan and model. Much of this hinged on gaining a geographical footprint across the Mid North Coast. For us this started around Port Stevens and stretched up to Coffs Harbour in the main. It also encompasses the New England region in a sweeping arc. Its been a hard slog to get a presence across such a wide area from a single office in Taree but with Bowen IB we now have that foot print sorted on the southern end. This gives us the personnel and resources to do more in the Barrington, Myall and Upper Hunter region while freeing up others to work closer with the rest of the region.

Like all businesses you have to have a plan. Theres no point putting yourself out there without a clear road map of where you want to be. Our first 5 year plan is well on track. For our clients this will mean we have more resources and can work closer with you as required. Presently much of the workload falls on one person but this can now be spread and new people can work closer with our clients and ensure our service standards are adhered to. Make no bones about it the Service Standards we put in place 3 years ago were paramount to the businesses long term viability. The more we grew the greater strain this put on us to keep these standards in place. One bad client experience can be damaging nowadays so we have been very diligent in this area. With a team of 4 and maybe a 5th we can now spread the load and really focus on specific projects and clients.

The 1st 3 years has been filled with great experiences. We set goals and are pleased to say meet them 9 out of 10 times. One of the biggest challenges we set our selves was education. Our area has had Insurance broking presence for decades however we have said before that it has not been promoted as well as it could. Our role has been to educate on what Insurance Brokers do for your business and the wider community. 

We have done this via this blog on many an occasion but we have also taken to public speaking and promoting what the role is at Business functions. We are proud of our role in the community but it is still misunderstood. If your primary position with Insurance is to find the cheapest price then you've missed the whole point. 

We bought a new Mazda CX9 Grand Tourer recently. Now compare it to a Nissan Micra and what do you have? Well for starters about $40,000 in price but the Micra has limited safety features or comfort compared to the CX9. Its the same with Insurance. If you want the cheapest then you will get a product that "might" work but when you need it the most you may be lacking in many claimable areas. Unlike cars where you can figure this out before you buy with Insurance you often dont find out till its too late. Get it right first! Yes we are competitive on premium but not to the detriment of cover. 

To truly protect your business you need the advice of a broker. We dont work for an Insurance company but act solely for you. Its a message that is slowly getting through but as Insurance has been sold on price over cover for decades and decades the struggle will go on. The difference in a couple of hundred of dollars a years can be worth hundreds of thousands of dollars if your business was to suffer a loss. If your business suffers then your staff and many families suffer.

So 3 years on and still going strong. We are so excited to now have Bowen IB as partners. Please join us in welcoming them to the Insurance Advisernet Family. Bruce & Paula bring the Bowen legacy to our business which is one we cherish and will work hard to keep in place. One things for sure in business, you cant stand still and we always have ants in our pants so keep an eye on our next move. If we can partner with you or someone you know please get them in touch with us. Our webpage is www.iaamidnorthcoast.com.au plus they can find us on Facebook, Google + and Linkedin.

Happy Birthday to us....... (And thanks to The Mighty Hawks for the early Birthday present.)

** Advice is General in its nature and may not be right for you. Please consider your own business objectives, requirements and needs before purchasing any insurance product.