Former Gallagher executives Dickson and Pearson launch new broker
Innovation Broking will provide advisory service around technology to mid-market companies
Two former Arthur J Gallagher executives have joined forces and launched a brokerage called Innovation Broking to plug what they believe is a gap in the technology market.
Paul Dickson and Howard Pearson, the chief executive and development director respectively of the new business, have started operating from an office in Watford.
Pearson told Insurance Age that Innovation Broking will be focused on providing an advisory service at boardroom level to mid-market companies around their needs.
He said the types of products they will be advising clients about will be commercial combined, directors and officers and professional indemnity cover.
“When we were talking about starting the business, we both realised there was a gap in the market for boardroom level advice for mid-sized companies,” Pearson explained.
“We’re very much going to be an advisory service so it’s a question of telling clients what they need rather than what insurers want to sell.”
Pearson said the business currently has six employees and they hope to launch another city office within a year and take their staff numbers up to 10 or 12 or maybe more.
He explained that like many insurance businesses the capital outlay to set up the business has been relatively low and the cost of manpower has been more of an issue.
Pearson added that their capacity will be provided by the “people you normally expect” without specifying exactly who they’ll be dealing with.
Referring to himself and Dickson, he continued: “We both found ourselves outside employment for different reasons at the same time.
“We wanted to launch a broker that is client focused and build on the skills we have behind us.”
Pearson was previously chief executive of Oamps and Dickson was regional managing director for Giles. Both firms were acquired by Gallagher.
By Larry Ferguson in Insurance Age