Development Broker status with Folgate Insurance
What is Development Broker status?
Development Broker status is offered to selected Brokers within the United Kingdom that have shown or have the potential to show commitment to growing their account and relationship with Folgate Insurance Company Ltd.
What do I receive for becoming a Development Broker?
Development Brokers receive enhanced benefits from standard accounts which include:
- In most cases, an increased commission across our suite of products
- Dedicated Underwriters bespoke to your brokerage
- Enhanced Underwriting service levels
- Enhanced local Business Development Manager interaction
Above all, Folgate is committed to delivering insurance products to its’ customers that are fit for purpose and which offer good value for money. Treating Customers Fairly (TCF) is at the very top of our agenda and Development Broker status will have no overriding effect on our duty to act in the best interests of the customer.
What do I need to provide in return for Development status?
Nothing, other than your continued support and commitment to grow your agency in line with the parameters agreed with your Business Development Manager.
How long does Development Broker status last for?
Development Broker status is continuous, and your Business Development Manager will review your account periodically with you.
What happens if our agency does not grow in line with expectations?
If, after the period agreed, (normally 12 months), your account has not grown in line with the parameters agreed with you, then we will simply revert to your original broker status that was in place prior to the Development Broker status being allocated, subject to no changes in general business practices.
How do I discuss becoming a Development Broker?
To discuss Development Broker Status, please contact your local Business Development Manager who will discuss how Development status could be reached. Their details can be found here.
Is Broker Development Status available to anyone?
Development Status is available to:
- Independent Brokers
- Appointed Representatives
- Individual or multiple offices and groups
- Brokers that are part of a Network.