Insurance Times Awards 2024: FSB stepped up when NABAS stood near collapse

1. Why did you put yourselves forward for the Customer Champion of the Year – Broker category

The Insurance Times Awards represent excellence and recognition in the industry, making them highly prestigious.

As a smaller broker, FSB Insurance Service focuses on delivering tailored, impactful solutions that larger firms might not have time to spot. By entering, we want to showcase how we went beyond just replacing NABAS’s insurance.

We provided a full support system for the association and its 700 members, introducing new cover options and added member benefits.

Winning this award would demonstrate how smaller firms can handle complex, high-pressure challenges with agility and commitment, setting a higher standard in the industry.

2. What makes your entry stand out and why should you win the award?

Our entry stands out due to the urgency, complexity and scale of the issue we tackled. NABAS, representing 700 UK businesses, was close to collapse when its insurer withdrew.

We had just 13 days to resolve the crisis. But we didn’t stop at simply reinstating its cover. We expanded NABAS’s offerings with innovative insurance solutions, such as 48-hour event cover and tiered policies for retail and storage spaces.

We also introduced a legal helpline and a digital document hub to help members stay compliant. Our ability to turn a potential disaster into an opportunity for growth and improved member support shows why we should win.

3. What would winning this award mean to you and your firm?

Winning this award would be a huge recognition for our team and shine a light on the value that smaller brokers bring to the insurance industry. As a smaller firm, we take pride in creating bespoke, specialised solutions that larger firms may not have the flexibility to offer.

An Insurance Times Award would recognise the vital role smaller brokers play in providing agile, tailored services in high-stakes situations.

It would show that even in an industry dominated by larger companies, firms like ours can deliver critical expertise and make a real difference to our clients.