Aventus expands into Wholesale Insurance Market

Our launch into the wholesale market is the natural expansion of our operation which has previously focussed on retail brokers and MGAs.

Introducing our Business Development Team who are supporting our growth, Nihat Hassan, previously Head of Product Development at Source Insurance, to meet the ongoing growing demand in Retail, and Adam Harrison joins as Aventus’s new Wholesale Insurance BDM, joining from his previous role as Sales Manager at Charles Taylor Insurtech.

“The supertanker is turning.  Insurance has finally realised the need to embrace digital technologies, but the wholesale market has been slower to respond.  There is a huge opportunity for the wholesale market to benefit from data-driven strategies.  In terms of marketing, for example, the average numbers of policies sold in the wholesale market per customer are just 1.1, showing an appalling rate of cross or upsell. There is a huge opportunity for the wholesale market to embrace the benefits of a digital ecosystem approach.  Wholesale brokers are further removed from the customer than retail brokers but are now realising the problem and missed opportunity of not having a single view of the customer.  Ultimately the problems are the same for both markets – it all comes down to access to data, useable metrics and actionable insight.” Comments  Adam Harrison on the Aventus expansion into Wholesale Insurance.

Aventus enables insurance providers to offer modern buying experiences that consumers expect, for any insurance line, through any channel, at pace whilst supporting and phasing out legacy systems. The Aventus ecosystem approach allows insurers, MGAs and brokers to unlock insights from 1st and 3rd party data, giving wholesale brokers and their broker partners, a 360-degree view of the customer.   Broker efficiencies are delivered by combining policy administration and CRM in one place and leveraging multiple data sources to automate bordereaux and binder management and increase cross-sell/up-sell opportunities.

Peter Goodman, CEO & Founder at Aventus, comments: “I genuinely believe that investment in data and digital enablement offers the only true option for long term viability for all insurance businesses.  The market has been poised on a digital inflexion point for some time, COVID-19 has acted as a catalyst for accelerating that process. Aventus is built to take MGAs, brokers and niche insurers on a journey of strategic investment. Democratising digital to help them affordably invest in comprehensive digital and data capabilities they need to deliver modern customer experiences along with increasing the number of policies per customer.

“I’m delighted to welcome our new BDMs to the team and I’m excited to see them spread the word and help brokers and MGAs, whether big or small, retail or wholesale, to simply and affordably reinvent their business models to adapt and thrive.”