Coversure Insurance Services Franchisee Case Study:

Rajan Amin of Coversure Croydon

Coversure has been helping ambitious and entrepreneurial insurance professionals establish profitable brokerages since 1986. Thanks to our extensive range of support services – everything from insurer’ agencies to compliance – we provide the perfect platform for building profitable businesses.

Unlike some insurance networks, however, Coversure has never been in the business of opening offices for the sake of it. It’s never been about ‘pins on a map’ but creating long-term profitable businesses that serve their community’s insurance needs.

A great example of this is Coversure Croydon. Established in November 2002 by the current franchise holder Rajan Amin, Coversure Croydon has gone from strength to strength and now employs a team of six.

Rajan was typical of new Coversure franchisees in that he was already an experienced broker by the time he expressed an interest in becoming a franchise holder. That said, he was unusual in that he had been a partner in another long-established office, Coversure Wimbledon, before opening his brokerage.

For most prospective franchisees, moving from being employed by or having a stake in an existing business is the hardest part of becoming a franchise holder. In Rajan’s case, it would have been all-too-easy to stay where he was and grow the Wimbledon office with his friend Piyush. Rajan was too ambitious for that, though, and having experienced first-hand the support that was on offer from Coversure he decided to grasp the opportunity.

“There was plenty of help and support on offer even before we opened. Coversure had a proven model, plenty of experience, and offered a turnkey solution. We also liked the fact that we could go and meet other franchisees before we agreed to go ahead.”

Experience had taught Rajan that going it alone as an independent broker – even then – wasn’t always easy. Functions that large, established brokers take for granted, such as insurer agencies and compliance departments, were beyond many small independents, especially when they started out. This was something Rajan knew he didn’t need to worry about as Coversure’s comprehensive package of support meant he could concern himself with building his business.

“For me, the insurer agencies, insurer accounts and settlement, compliance, and the client management system are all great sources of support. I wanted to open my brokerage to help businesses and property owners get the protection they needed. Not having to worry about back-office tasks allowed me to focus on growth.”

And Rajan and his team have seen significant growth. By focusing on the needs of local businesses and landlords, the team has grown to six, and the office has established itself as one of Coversure’s best performers. Even the pandemic hasn’t been able to knock the business off course, and Rajan is confident that 2021 will turn out to be one of their best years ever.

Of course, for any business to develop, it needs to evolve and change, and Coversure has been no exception. In 2018 Coversure underwent a management buyout which saw fresh investment flood in as it became part of the newly created Jensten Group. Such seismic changes can be unnerving for established stakeholders, but Rajan has seen nothing but benefits.

“Since the MBO and the creation of the Jensten Group we’ve been excited by the continued inward investment in people and the wider business, which can only trickle down and help us grow further.”

After Rajan’s years of success, it’s easy to see why he remains such an advocate of Coversure’s model. Given the changes he’s seen in the industry since 2002, particularly regarding insurers’ appetites and consolidation, would he make the same choice today though? The answer to that question is an emphatic ‘Yes’:

“A tried and tested method of support mixed with an entrepreneurial atmosphere leads to successful outcomes. Coversure gives each franchisee the tools they need to succeed. Who and where you find/build your business is the bit a franchisee needs to bring, but I can sum up the opportunity in three words: support, agencies, freedom.”

Thank you, Rajan, most informative.