Start-up funding of £5 m for Broker Assistance

A new £5 million company has been launched in the once troubled accident assistance market. Cheshire-based Broker Assistance Limited has been launched following a collaboration between major industry players Jon Ralph, 40, managing director, David Russell, 45, commercial director and claims director Keith Wray, 48. The team has substantial previous experience in the insurance and accident management sectors including senior roles at Avis Europe plc, Direct Line, Eagle Star, the Willis Group and esure Insurance.

Broker Assistance specialises in providing a non-fault motor accident claims service exclusively to the clients of insurance brokers. The company promises a superior service that is tailored to the needs of the broker and their clients. They also offer a unique service guarantee that supports the broker/client relationship.

The company currently employs almost 20 staff at its premises in Birchwood, Warrington with plans to employ up to 50 by the end of the first year. Financing of over £5 million has been raised with a target turnover of over £2 million for the first year.

Broker Assistance was formed when Jon Ralph, frustrated by the once troubled accident management market wanted to offer brokers better. He said "The industry serving victims of over 1.7 million accidents every year has undergone a period of intense consolidation. Current players are still hampered by historic debt issues and poor service delivery. Insurance brokers are crying out for a provider that looks after their client base by delivering a quality motor claims service and developing income streams."

"With very aggressive marketing from direct writers it is easy to forget that brokers still place almost 60% of all insurance policies. We believe we can provide a competitive advantage to brokers. The Broker Assistance management team formed the company with the firm belief that there is always a market for the best and that is what we intend to provide."

Once a claim has been accepted all aspects of managing the accident will be dealt with including vehicle recovery, repair, car replacement and legal support. The client will have the benefit of a personal claim handler to help them from incident to settlement.

PHD ventures co-invested with another private equity investor and arranged additional working capital facilities.