Coversure Insurance Services Franchisee Case Study:

Frazer Lewis of Coversure Kidderminster

When you become a Coversure franchise holder, you not only become the master of your destiny but begin an exciting journey that can last for decades. Many of our franchisees have built up significant businesses over the years and remain some of Coversure’s greatest advocates.

One of these is Frazer Lewis of Coversure Kidderminster. Frazer opened his office in December 2001, and it has gone on to become one of the Group’s largest, employing a team of ten and enjoying consistent levels of growth.

Frazer’s background is typical of many of our franchisees. Before joining us, he’d spent several years working in insurance, latterly with Swinton’s, and was looking for support in founding his own brokerage. Having investigated other routes to realising his dream, he chose Coversure, and the rest is history…

“I’ve spent my entire working life working in insurance. Coversure had an ethos that fitted well with my own at the time, and I’ve never looked back.”

As well as sharing Coversure’s values, there were practical reasons for choosing Coversure too. Frazer liked the level of compliance support offered while centralised accounts service meant he’d be free to concentrate on serving his customers’ needs and growing his business. And how his business has grown. With Coversure’s support, Frazer’s business has enjoyed years of strong organic growth, something he’s sure is set to continue:

“I am confident we can continue to grow. We have invested in premises and people, and I think we offer an attractive proposition to new members of the team as we continue to build and grow.”

As a group, Coversure’s franchises have a track record of success, with an average tenure of 11 years and offices enjoy an average income of over £200,000. Having founded a new office, Frazer knows the challenges associated with opening an independent insurance brokerage and believes that Coversure’s unique model is central to brokers’ success.

“The franchise route can help a new franchisee concentrate on sales more than they would if they did not have the backing of central support functions such as accounts and compliance.”

Brilliant back-office support is only a small part of the story, however. What successful franchisees like Frazer relish is the freedom that a Coversure franchise offers. He’s been able to choose which products he targets – in his case commercial, particularly fleet insurance – and how he markets and grows his business. Growth to date has been largely organic, though with the help of Coversure’s Mergers and Acquisitions Team, Coversure Kidderminster has also acquired another brokerage which has fitted well with his existing book.

Having been a highly successful Coversure franchise holder for over twenty years, it’s easy to see why Frazer is such a keen proponent of Coversure’s model. What’s heartening is that despite the challenges in the market, he’d still recommend ambitious brokers and account execs become a Coversure franchisee:

“In the current world of insurance, I believe it’s extremely difficult to start a brokerage on your own. A franchise will give you the opportunity to draw on the experience of others and used tried and trusted methods along with your own area of expertise to make a success of it.”