No Minimum GWP Commitment for Brokers at NBS
23 May 2023
At NBS, we understand that our broker partners are paramount to our success. They work tirelessly to provide the best insurance solutions to their clients, and we believe that it is our responsibility to support them in their efforts.
Following recent articles in the insurance press, we understand that brokers are facing challenges when it comes to placing business with other MGAs and insurers. Many have a minimum commitment in premium which can make it difficult, especially for smaller brokers, to do business with them.
At NBS, we do not believe in applying such a minimum commitment. We understand that every broker has unique needs and requirements, and we tailor our services accordingly. We have a dedicated team of Business Development Managers and Underwriters who work closely with our brokers to understand their clients’ risks and offer the best insurance solutions. We will always provide a top-quality service to all broker partners, no matter how big or small their business may be.
We believe in supporting brokers to grow their account with us organically. We do not believe in pressuring them to meet targets. Instead, we focus on building long-term relationships by offering support when needed. We believe that this approach is the best way to encourage them to place business with us on a regular basis.
Our commitment to providing service excellence to all our broker partners and our focus on innovation, technology and continuous improvement has helped us to build a strong reputation in the insurance industry. We have earned the trust and respect of brokers across the country, and we are proud to be their trusted insurance partner, with over 500 satisfied brokerages placing business with us every single month.
Steve Cowman, Managing Director at NBS Underwriting said, “We want to assure brokers that we will not ask them for a minimum gross written premium. We are committed to providing exceptional service and making our brokers’ lives easy, no matter their size. At NBS, we believe in building long-term relationships and don’t look to place barriers in the way of brokers who wish to do business with us.
Our data shows us that once brokers use our system and engage with our BDMs and underwriting team, broker volume grows organically very quickly. We have over 25 products available to brokers and cover a wide range of their clients requirements. We actively listen to our brokers to provide solutions, fostering natural engagement.”
Please get in touch with one of our BDMs to find out more and how we can support your brokerage further. Contact details can be found on our meet the team page