As the broking arm of Cox, this Essex operation is strong on motor and has flourishing affinity and third party administration businesses
Company Name: Boncaster
Address: Library House, New Road, Brentwood, Essex, CM14 4GD
Tel: 01277 200 100
Fax: 01277 206 283
Lines of Business: Personal lines, motor (53%), travel and vehicle breakdown cover (35%), home (7%) and motorcycle (5%).
Insurers Used: Allianz Cornhill, Fortis, Equity Red Star, Groupama, Hastings, Legal and General, Provident, Royal & SunAlliance, Sabre, Zurich, Aviva.
Premium Income in 2002: £117.4m
Revenue Income in 2002: £27.3m
Nick Potts, managing director Jason Logan, business development manager
Boncaster is the broking arm of Cox Insurance and a prominent player in the UK personal lines market. It employs more than 300 staff and operates from Brentwood, with a contact centre in Bradford and a specialist home insurance department in Southampton. It aims to double the size of the business over the next three years with the capacity for major growth in Bradford and Southampton.
What is Boncaster's Background?
Established in 1931, the business has grown significantly through major acquisitions, broker transfers and expansions of links with the affinity market. Its own direct brand, insure, has continued to grow since its launch in 2000.
Along with its success in personal lines, either direct or through its panel of insurers, Boncaster also serves a number of schemes and affinity groups. Clients include Volkswagen, Audi, Age Concern, Royal British Legion, Freeserve, Triumph and Harley-Davidson.
Managing director Nick Potts said: "Insure generates high volume of quotes, because we are so customer-focused. It is also the only brand to offer a year's free motor insurance to policyholders who remain claim-free for five years. Customers love it and have remained very loyal to us.
"As for the future we are planning major growth across all areas including affinity business, administration of broker books of business, acquisition and direct marketing."
Day to day management of each scheme is also handled within Boncaster to ensure standards are maintained. To this end, considerable investment has been made in IT systems and infrastructure.
An important part of Boncaster's revenue stream is based on providing third party administration for intermediary personal lines books. Potts adds: "We have the experience, resources and vision to work together with brokers to find the best solution when a broker wishes to focus on commercial lines business, or exit from the market, but retain income from the business."
Under the trading name of Insurance Services, Boncaster also offers a telebroking solution for personal lines business.
Brokers may find that the use of dedicated telebroking is better for referrals of accommodation and the transfer of major portfolios of business.
The books of business transferred range from small high street brokers to large commercial brokers, such as Jardine Lloyd Thompson and Alexander Forbes.
Experienced in handling both electronic and manual transfers, Boncaster provides a service that suits a broker's needs and allows the quick and seamless transfer of policies for customers.
Did you know?
In October last year, Boncaster's direct brand, insure, was the main sponsor of Britain's Worst Driver - a Channel Five programme hosted by motor industry expert Quentin Wilson. Cox chief executive Neil Utley became a member of the television show's judging panel and had to endure hours of test drives on and off road with eight of Britain's most awful drivers. He was a little shaken to say the least.