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The Community Broker Network, Sydney, New South Wales, Australia: The Community Broker Network

Company: Green Door Co, Sydney, NSW
Company Description: We are a PR firm entering for multiple clients as per your Awards Tips
Nomination Category: Company / Organization Categories
Nomination Sub Category: Company of the Year - Insurance - Medium-size
2024 Stevie Winner Nomination Title: The Community Broker Network
  1. Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the achievements of the nominated organization since 1 January 2022, OR written answers to the questions for this category? (Choose one):
    Written answers to the questions
  2. If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.

     

  3. If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization: its history and past performance (up to 200 words):

    Total 200 words used.

    The Community Broker Network (CBN) is the largest general insurance Authorised Broker network in Australia. CBN was formed following the acquisition of Westcourt General Insurance Brokers (WGIB), the subsequent merger with National Advisor Services (NAS) and the transfer of former CGU Authorised Representatives into NAS; now servicing over 160,000 SME businesses.

    CBN is a member of the National Insurance Broker Association (NIBA), a member of the Steadfast Broker Network and has signed up to the Insurance Brokers Code of Practice.

    Our business employs about 70 staff, who are passionate about supporting and empowering the success of CBN Authorised Representatives (our community of self-employed insurance brokers who come under the umbrella of CBN) to ensure the best outcome for clients. CBN is located across Australia with hubs in Melbourne, Adelaide and Perth. We’ve also invested significantly in a rural strategy to build CBN as the go-to network in the regions and have developed communities of practice in those areas. 

    CBN’s business is structured specifically to only provide services to Authorised Representatives, they’re not an add-on. The success of CBN Authorised Representatives is our sole purpose and priority. Our focus isn’t diluted and this is a major factor in our growth. 

  4. If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2022 that you wish to bring to the judges' attention (up to 250 words):

    Total 249 words used.

    1. Growth. In the last few years, we’ve grown our network by 10% but doubled collective gross written premium to [REDACTED FOR PUBLICATION]. 

    2. Growth in brokers and clients. We support 1,000 brokers and their teams to craft tailor-made insurance solutions for 160,000+ SME clients.

    3. Unrivalled broker support. Includes advice on best practice, compliance support, HR and marketing assistance and L&D. 

    4. Broker Partnering Team. Acts as an extension of a broker’s team when experiencing a busy period, illness or simply needing a break. 

    5. Support for distressed portfolios. CBN identifies at-risk industries, occupations and books, and supports the affected brokers by intervening early to proactively establish a strategy.

    6. ‘Launchpad’ Coaching Program. 8 weeks of subsidised coaching for new brokers to learn the ins and outs of broking business operations. Attendees remain connected via Whatsapp following the course. 

    7. NPS. Grown by around 15% year-on-year since 2022 to 40; now on par with the average NPS across all industries globally. 

    8. Investment in broker businesses. Our Network Development Fund has provided over [REDACTED FOR PUBLICATION] million worth of loans with delayed repayment obligations to support brokers starting their own brokerages. We’ve taken an equity stake in parts of the network. We’ve established a succession program that supports brokers exiting their businesses to extract equity.

    9. Employer of choice. Certified Great Place to Work for three years running. Our staff retention is 88%. There was a 5% improvement in overall satisfaction from 2022 to 2023.

    10. Sustainability. In 2023 we achieved a carbon-neutral certification following the ESG Trace™ assessment.

  5. If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):

    Total 248 words used.

    1. Growth. An incredible result for our brokers and a testament to the commitment we make everyday in driving their success. 

    2. Growth in brokers and clients. As we’ve grown our broker community, we’ve been able to improve access for more clients. This leads to better outcomes for the 335,000 policyholders who have trusted us to provide service excellence and quality coverage.

    3. Unrivalled broker support. CBN genuinely cares about our brokers. Our purpose is to empower brokers to provide the best outcome for clients. We’re known for delivering ‘intimacy at scale’, acting as trusted advisers for their businesses.

    4. Broker Partnering Team. Without this support, insurance brokers would struggle to take a break and would face significant disruptions to business continuity. 

    5. Support for distressed portfolios. This support is transformative in keeping broker’s businesses and livelihoods afloat.

    6. ‘Launchpad’ Coaching Program. This incentivises people to not only join CBN but also the wider insurance industry; upskilling the next generation of brokers.

    7. NPS. We tend to see dips in NPS due to macro challenges (such as economical or geopolitical pressures), so the upswing in recent years is extremely promising. 

    8. Investment in broker businesses. By supporting brokers from launch to exit, we help their businesses thrive.

    9. Employer of choice. By building the business to be an employer of choice we attract the very best talent to CBN. 

    10. Sustainability. Being carbon neutral helps us play a proactive role in the fight against climate change but also ensures the sustainability of our business and our community. 

  6. You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):

     

Attachments/Videos/Links:
The Community Broker Network
URL [REDACTED FOR PUBLICATION]