MGA aiming to accelerate growth in broker market with new appointment

Managing general agent (MGA) ARMD has revealed that Alan Hickman will be joining the firm as a cofounder to support its growth in the broker market.

ARMD is currently focused on distributing via brokers after launching its Tools In Transit product on wholesale distribution platform Sparta in December 2023.

The MGA said it made the decision to adopt this strategy after the product received “great feedback” from brokers.

Hickman, who was the former head of operations at LV= Broker, said he would “help the business scale and achieve its ambitious growth plans with brokers in the UK”.

“The ARMD leadership team have a strong background of delivering innovative technology solutions for tradespeople,” he added.

“Having known the team for some time, advising on insurance elements of their MGA business, it made sense to join as cofounder.”

Product

The Tools In Transit product provides up to £10,000 cover for tools left securely in a van 24/7.

It also includes a web-based tool inventory, so tradespeople provide evidence of ownership to obtain quicker five-day claims payments.

ARMD is actively recruiting brokers up and down the UK to distribute its solution.

“Since launching our first product at the end of 2023, we have had great feedback, as many brokers had struggled to secure comprehensive coverage at the right price for their trade clients from the incumbent insurers,” Devin Chawda, chief executive at ARMD, said.

“Alan understands the intricacies of the intermediated insurance marketplace and as such he is a perfect fit for us in forging strong partnerships in the market.”