So it's been awhile......

So it's been awhile......

I just checked the records on our weekly Blog the "Monday Memo" and it's been over 2 years!!! Our last Blog was a recap of the events of 2014 following our acquisition of Bowen Insurance Brokers in September.

When starting out over 5 years ago we had every intention of providing a unique perspective of risks in more detail that are pertinent to everyday life. This blog was a weekly affair for some period then became monthly and as we got busier and busier has become bi annual! OK, so this was not the intention but when running a business you need to prioritise things. In 2017 I intend to get back to regular blogging once more. Might be fortnightly or even monthly but at least more consistent.

How on earth do you put 2 years into a few paragraphs? From the moment we purchased Bowen IB in September 2014 our feet have not touched the ground. One of the key changes in that time aside from the obvious expansion was the need to relocate. Our Taree office was a great starting point but way too small. When we acquired Bowen we also picked up over 35 archive boxes filled with files making 1 office simply storage!

We moved smack on June 30 2015 but spent the 3 months prior putting the structure together at 93 Victoria Street. This involved expert work by Superior Windows & Doors Taree in constructing from nothing 4 glass offices. Also Tucknotts work on the carpets. Aside from Sandy McIntosh doing the tiles the rest we did ourselves. Nikki and Jenny Fletcher did a lot of the clean up and initial painting, whilst I came in late in the piece to finish off. When I say late I mean late as there was one night I painted until 2AM just to make sure it was ready.

Whilst working on Taree's office we also had to set up in Dungog. We signed a lease in March 2015 but it took over a year until it was actually finished. Why?

On April 21st 2015 A super storm swept through the Upper Hunter Valley the likes of which we had never seen before. As part of the Bowen IB acquisition we now serviced a large number of clients in Dungog and surrounds which copped the brunt of what was almost an inland Tidal Wave. For us, this is why we are here. However, having only met some of these clients briefly in the months prior or not at all it made the job very challenging. Almost all of our main street clients suffered damage, some of which has only been repaired in recent weeks. We went into crisis mode. I was on the ground as soon as the road was opened and spent much of my time walking from building to building aiding clients with knowing the process, understanding how their policy will respond and what additional benefits they could receive.

The old argument arose very quickly on whether this was to be a 'Flood' or 'Storm.' It's nothing new in our industry but having to manage expectations through what was a 5 week delay until a decision to cover clients was made proved extremely stressful. One of the benefits of being with IA is the relationship we have with the Insurance Companies. We spent countless hours and days putting together submissions at a very high level to ensure our clients were indemnified. Whilst those with other agents or directly through an Insurance Company struggled to get a pay out, (some never did) our negotiations meant that not one client missed out on compensation. When you consider our claims increased by 400% overnight, during a time with limited staff and resources, this is something we are very proud of. Over $1.3Million in claims were paid out for our clients from the Super Storm. To see them all now back up and running is so pleasing.

A natural disaster is not something you want to go through but its good to know that we had the ability to work closely with all stake holders and ensure our clients were protected. This is why we are in this business. Many look on Insurance as a 'Necessary Evil.' I cringe when I hear this as when you need it the most you want to make sure you have support. Its more like a business and livelihood saviour. I guess the way Insurance is advertised in the media probably leads to that. We are always looking for humour in our Insurance advertising instead of getting to the guts of what it is. Its a Community Chest funded by the many to help the few in need. Whilst shareholder world has changed the dynamics somewhat in essence and at its purest form a community chest is exactly what Insurance is. As advisers for our clients we see our role as protecting them when needed the most with the right advice and diligent service in times of need.

 

Some of our competitors looked on The Super Storm as something humorous. No doubt due to the volume of work we were presented. To see humour in an event that saw 3 locals lose their lives and countless others become homeless shows a total lack of understanding on the role of an Adviser. This is when the rubber hits and road and we thrived throughout and have now come through with countless referrals and new clients due to the level of service provided.

 

So, busy has been an understated word! In fact I only put the final open claim from April 2015 to bed this week! We also welcomed 2 new team members, Sean Bryant & Penny McDermott in 2015. These 2 people have formed a magic team. To have people of a similar mindset, equally passionate about their roles has been a blessing.

Penny now handles a sizable client portfolio and Sean continues to support both Penny and I behind the scenes. It's not often you find people who can slip into the culture of a company so well but they certainly have done that. This past 12 months Sean has joked that every time Nik and I attend a function we come back with a new award! It has been that kind of period in our lives though.

From being recognised as the NIBA Student of the year in 2015, to finalist in Agency of the year 2 years running, it all came to a head in October this year.

 

What a moment to be crowned IA Advisers of the year for 2016 jointly with Pace Insurance of Melbourne. For a small family company based in regional NSW this was a moment we will never forget. As goal setters we had one to win a major award within our first 5 years. Well, we turned 5 only 3 weeks prior so we'll claim this as a goal ticked off. The IA award could go to one of the 150 Corporate Authorised Representatives around Australia. We are still pinching ourselves that our work lead to this moment. Our sincere thanks to IA, Ian Carr, Simon Elliot and Shaun Standfield for your ongoing support. 

Just because we've won this doesn't mean we relax though. Project work is already planned for 2017 that will continue to grow the company and our commitment to Advice over price. If you stand still you end up behind the curve. Our clients will continue to be educated on key issues in their business that they can transfer to Insurance or mitigate internally. Our Management Liability programme continues to gain traction as does the awareness of the need for Cyber Insurance. Our 5 Star Benchmarking Surveys are market leading and give our clients (existing and new) access to a survey that shows way to mitigate risk themselves plus pertinent Insurance information woven in.


And if you haven't had a text yet then you are having clear blue skies! Our IA Weather Alert system has been released and - if in our area - going off over recent weeks. To be able to notify clients of impending Hail or damaging weather demonstrates the commitment to our clients livelihoods. I think we had 6 days in a row where it went off twice a day but since has settled down. But, that's our Summer for you!

So time to wrap it up for 2016 and grab a well earned breather before getting back into next year. As I said it's been a wild ride this past 2 years but we seem to have our processes and procedures in place to allow me more time to communicate in various ways like this. We continue to support our community through sponsorship of many local sporting teams and business events and even lend our hand at hosting some of them as was evidenced at this years Taree Carols in the Park.

Business should be community minded and put the interests of others before there own. Our own motto is "Family - Community - Business." We are family focused and need to support the communities we are part of. By supporting families and the community our business becomes sustainable. Merry Christmas from all at IA Mid North Coast. Look forward to working with you on the protection of your business in 2017.

** 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.