FUW Insurance Services wants to become known for more than farm insurance
The insurance broking arm of the Farmer’s Union Wales (FUW) is targeting NFU Mutual’s business and new customers outside of its farm insurance heartland, with its first TV advertising campaign.
Since the advert was first aired on Welsh channel S4C last week FUW Insurance Services (FUWIS) has won new business for commercial combined and package insurance.
In the colourful 35-second animated advert a female voice tells viewers that FUWIS is more than just a farm insurance broker, while stressing it is also active in the community. The advert is expected to be viewed by up to 750,000 people.
Managing director Mark Roberts told Insurance Times that FUWIS wanted to use the advert to send the message that it insured other things apart from farms.
“It is the first time we have done a television advert. We advertise quite heavily in agricultural press and produce dozens of leaflets but we wanted to try something different. We have been quite pleased with the response,” Roberts added.
Insurance broking arm separated from FUW union
The move comes as the FUW has separated its insurance broking from its union activities. FUWIS will now trade as a trade as a separate, subsidiary organisation.
Its 50 insurance broking staff continue to operate from FUW’s 12 regional offices and the three additional purely broking branches.
Roberts added the recent changes to the business would also enable the broker to expand further into personal and commercial lines in placing business for clients that are based mainly in rural communities.
FUW plots to take on NFU Mutual
The broker also aims to take business from NFU Mutual, which is reported to control some 65% of the farm insurance market and sells directly to policyholders.
FUWIS currently controls about £15m-16m in gross written premium (GWP) and has plans to grow its turnover by 8%.
Roberts said: “NFU would be a direct competitor, because they trade with policyholders and are also part of a farming union as we are.”
FUW has a 30-strong insurer and underwriting panel, which consists of Farm Web, BiB Underwriters, Ageas, Aviva, AXA, Highway (part of LV=), Rural, Towergate Underwriting, RSA and Zurich.