GrovesJohnWestrup ranks 1st place for overall service in Highpoint’s HNW Home Report 2022/23
2023/04/13
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When we launched GrovesJohnWestrup Private Clients in 2020, our team set out to offer a fresh proposition for insurance brokers with high-net-worth clients who have multiple risks to insure by combining state-of-the-art digital technologies, expert underwriting and a modular approach to cover. Dedicated to coverage tailored at the point of quote, we deliver a portfolio based approach to personal insurance in one seamless journey.
Reflecting that commitment, our team were incredibly proud to be ranked 1st for overall service in Highpoint Consultants' 2023 HNW Home Report. Amongst many highlights, we were scored 92% for new business, 85% for underwriting and 84% for documentation, all the top-ranking scores in their categories.
(85%)
(92%)
(85%)
(84%)
I am extremely pleased that our hard work and dedication has been validated by our broker partners. The single biggest factor in our success is undoubtedly the fantastic team of Underwriters and Relationship Managers that we have built, without whom this achievement wouldn’t have been possible. We have extremely strong brand and Munich Re capacity sitting behind us, which has helped us to utilise financial strength and technological advances to create an offering that is flexible and efficient. The use of data has enabled us to drive consistency in our service, underwriting and pricing which has been vital in maintaining our excellent service in a market that demands such high standards. We continually look to enhance our offering to the market and with the positive feedback we are already receiving from broker partners, we are very excited about the future of GrovesJohnWestrup Private Clients.
100% positive feedback on our service
Of 79 broker comments, 100% gave positive feedback about the quality of our service. A number of the brokers surveyed commented about the speed of our service, with one comment being that we are 'typically the first to respond' and that we produce “clear, accurate, well-presented and quick to arrive” documentation. The survey highlights how we have combined state-of-the-art digital technologies, expert underwriting and a modular approach to cover to make all processes as simple and efficient as possible.
The report surmised that all our underwriters “seemed to be knowledgeable, capable professionals – quick, confident, responsible, thorough, primed to work with the broker and work hard” and that our “first rate” cover was “modern, comprehensive, boasting impressively high limited and packed with attractive features … designed to go head-to-head with the market leaders”.
Further broker comments highlighted in the report included:
(South Eastern firm)
(North Eastern account executive)
(South Western account executive)
(North Western broker)
The report’s summary that our underwriters “wanted to say yes” to business exemplifies the “not if, but how” attitude we have as a Munich Re business, using data enrichment and data-driven insights to inform underwriting decisions and empower our underwriters. This backing from the group, as well as its wider capacity, enables us to serve the demand for digital insurance solutions within the High-Net-Worth market in an innovative way.
Reflecting on our performance in the report, we are thrilled with the positive feedback provided by brokers and that so many participants in the survey named us their fastest growing market of 2022.