Case studies : Insurance broker: Neil

Neil graduated with a BA (Hons) in Business Studies from the University of Huddersfield.

After a work experience at school as an insurance broker, this industry was always high on my list for potential career choices.

As I still had not decided for certain, I decided to look into a course in business studies at university. As part of my sandwich year, I applied for a marketing job with a company. It turned out this company also had an insurance broking arm, and in the end, their personnel department appointed me to an insurance-based placement.

After university, I went and worked in a graduate trainee role at a large insurance broker and quickly moved through the ranks. It was after a spell in a managerial role that I decided to use my university teachings to try and go it alone.

I founded Ravenhall Risk Solutions Ltd in September 2006, just over three years after graduating from Huddersfield. And two years on, Ravenhall places £2million worth of premium with the world’s largest insurers.

Although a degree is not imperative for entry into the insurance broking sector, it does help you enter at a higher level and salary. The ideal degree to take is a financial services degree of some description or one which has finance as an ancillary subject, for example business studies with financial services. The biggest hurdle on entering the sector is the product and industry knowledge, and the Chartered Insurance Institute Examinations are the key to overcoming this.

As business studies was so generic, the wide-ranging knowledge I gained was the perfect mix for setting up my own business as I had learned about people management, accounting, marketing, entrepreneurship, etc.

My role is varied. I love selling and advising, so as well as having a book of clients which I look after, I also like to find the time to win new clients and expand our remit. My role also encompasses human resources, marketing, accountancy, strategic planning and improving relationships with suppliers and customers.

I enjoy every single part of my job. Although accountancy has never been one of my strengths, nor is it something I relish the task of, I have come to enjoy the input I have in the accounting of the firm. And one of the keys to a successful business is identifying weak points and bringing in the correct people to shore up those gaps.

I hope for the business to continue its growth over the next couple of years and to continue working to the principles that the business was based upon. Reaffirming why we want to do something throughout the life of the company means we will always work in the ways that have made the company a success so far.