Protection broker Reassured protected its millionth customer in April 2021 after passing a number of milestones over the past 12 months.
Reassured also passed one thousand total employees in April 2021 and now operates nine offices across the UK, with Cardiff the most recent unveiling in March of this year.
Laura Benton, founder and chief operating officer, said: “Our people are at the heart of the success of Reassured. In what have been testing economic conditions for many businesses, we are extremely proud to have given flexibility and security to our existing staff, as well as expanding our employment opportunities across the country.
“While many firms were sadly making redundancies as a result of COVID, we actually increased our headcount by around 300.”
The broker, which sold a minority stake to private equity firm, Bridgepoint Development Capital, in February of 2020, is now geared up to enter new markets as part of further expansion plans.
Firstly, in April it opened a new subsidiary business, Reassured Advice Limited, which has begun serving customers needing advice on the most appropriate protection to take.
To manage the advised team Reassured recruited Amanda Curwood, who brings with her over a decade of experience in the protection advice arena with specialist broker, LifeSearch.
As well as Curwood, Lucy Brown has joined Reassured from London and Country Mortgages (L&C) as corporate relations manager; handling day-to-day interactions with insurer partners. Brown spent over 20 years with L&C in various management roles, latterly focussed on the broker’s protection proposition.
Brown will report to Phil Jeynes, who has seen his role expand to become director of corporate strategy; responsible for all key relationships, from corporate sales partnerships to insurer and provider interactions.
This includes a new agreement with a fintech firm, who will partner with Reassured to deliver a new direct to consumer, “buy now” proposition aimed at both the broker’s own new business customers but also, on a white-label basis, future corporate partners seeking to offer a point of sale solution to their customer base.
Jeynes said: “Having long dominated the non-advised, telephony sector we are now broadening our scope to offer a range of ways to buy cover.
“Our new propositions will mean that we can offer a wider range of products to more customers, as well as being able to deliver a tailored, end to end solution for potential partners. We are delighted to have attracted some talented people to help us drive these areas forwards, in particular Amanda and Lucy whose reputations within the industry are second to none.”
Insurers committed to the new online service when it launches in Summer 2021 include Legal and General, LV=, AIG Life, Aviva and Vitality Life with several others due to join over the remainder of the year.
Vicky Churcher, intermediary director at AIG Life, said: “We enjoy a long standing partnership with Reassured and have always been impressed with their drive to help customers get protection insurance. Their expansion in both the advice sector and the direct-to-consumer market means we can reach even more people to protect the thing that matters most to them – their families.”
Daren Boys, protection portfolio distribution director at Aviva, added: “We are delighted to be working alongside Reassured across their Advised and Digital developments that will help fuel the next stage of their growth strategy and protect more families.”
Finally Scott Kennedy has been appointed as chief financial officer, having previously been managing director of the Swinton Group, and most recently strategy firector at insurance brokerage, The Ardonagh Group.
Kennedy said: “What Reassured has achieved over the last decade has been remarkable and I am delighted to have joined the board. I am tremendously excited to work with Steve Marshall, Laura and the rest of the team on a fantastic journey over the coming years.”
Steve Marshall, Reassured’s founder and chief executive officer, said: “Our goal has always been to build a thriving, successful business which gives outstanding customer outcomes as well as a supportive working environment laden with opportunity.
“The last 12 months have been extremely challenging for many business and individuals so I am immensely proud of not simply surviving the tumultuous times but continuing to grow at our customary, rapid pace.
“To lead an organisation of a thousand people, serving now over a million customers with such a vital product set is an honour and I am excited that Reassured will not only continue to deliver as we have done to date, but will also begin to grow and attract new business through our advised and digital propositions.
“The calibre of key personnel we have brought into the business to complement our existing talent speaks for itself and we are now fully prepared for the next, dynamic phase of our strategy.”