NBS News

Winning the MGA Award at the National Insurance Awards

NBS Underwriting

12 March 2024

We are immensely proud to announce that NBS has once again been recognised for our unwavering commitment to excellence, innovation, and superior broker experience by winning the MGA Award at the National Insurance Awards. This marks the second MGA award won this year, further solidifying our reputation as leaders in the MGA sector.

Our success is not by chance; it is the result of a strategic vision and a series of carefully implemented initiatives over the past year that have collectively propelled us to the forefront of the MGA sector.

  • Underwriting Restructure – Our underwriting restructure has been a game-changer, yielding remarkable outcomes. We’ve significantly improved quotation turnaround times for SME risks, streamlined our processes, and reduced internal sign-off times. Our experienced underwriters now focus on complex and demanding cases, delivering tailored solutions with efficiency and precision.
  • Widening Our Product Portfolio and Acquisitions – Recognising the need for agility in our product offerings, we’ve expanded our portfolio to meet the evolving needs of our broker partners. Our unique approach to product development uses market expertise and in-house knowledge, enriched by insights from our recent acquisitions, The Underwriting Specialist and Capital Markets Underwriting. This has led to a diverse and robust range of new products, including Commercial Combined, PI, Contractors, and Community Enterprises, all of which have been met with appreciation for their quality and the speed of delivery.
  • Empowering Underwriters – We’ve empowered our underwriters to innovate and provide bespoke solutions by establishing direct lines of communication with brokers. Our brokers now enjoy immediate access to BDMs, 50 experienced underwriters, managers, and expert teams through our quotation system, online chat, and phone. This initiative has significantly enhanced the broker experience and the quality of service we deliver.
  • Technology Integration – Embracing technology has been key to enhancing our transaction efficiency. We’ve invested in understanding the markets we serve deeply, developing a comprehensive set of questions that have transformed our quotation system. This allows us to provide quotes swiftly and accurately. Our in-house capability to adapt our system, including question sets, rates, and endorsements, ensures we remain responsive to market changes.

A Testament to Our Growth

Our relentless pursuit of innovation and unparalleled customer service has driven impressive growth, making us a deserving recipient of the MGA Award. Our initiatives over the past year have demonstrated our commitment to leading the MGA sector. We’ve introduced new products, acquired new businesses, and streamlined our processes to become the go-to source for brokers seeking innovative and efficient insurance solutions.

Our swift quotation turnaround times, personalised support, and commitment to long-term relationships are essential in today’s competitive market. Our growth over the past year is a testament to our success. Our increasing quote counts, strong retention rates, and impressive GWP growth demonstrate the value we bring to the industry.

As we celebrate this achievement, we look forward to continuing our journey of excellence, setting new benchmarks, and delivering the exceptional service that our brokers and clients have come to expect from us.

For more information on the award winners visit The National Insurance Awards website

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