Image
Icon

Directory

IconAccounting & Tax
IconActuaries
IconAdministrators
IconAppraisers & Valuers
IconArbitration Services
IconASIB
IconAssessors & Loss Adjusters
IconAssist and Lifestyle Benefits
IconAssociations & Institutes
IconAuditors
IconBBBEE Consulting and Verification Agencies
IconBroker Acquisition Financing
IconBrokers for Brokers
IconBusiness Process Management
IconBusiness Process Outsourcing
IconCall Centre Outsourcing & Sales
IconCompany Secretarial Services
IconCompliance
IconConsumer Protection
IconCorporate Governance
IconCredit Bureaus
IconDebit Order Collection Facilities
IconDefensive Driver Training
IconEducation and Training
IconEmergency Medical Rescue
IconFAIS
IconFire, Storm, Flood Damage Specialists
IconForensic Investigation Services
IconHuman Resources
IconIndustrial Cleaners
IconInformation Technology and Software Partners
IconInsurance Companies
IconLegal
IconLightning Damage & Surge Protection Specialists
IconNiche Insurance Products
IconOmbud
IconOutbound Sales
IconOutsourcing Companies
IconPolicy Administration
IconPremium Financing
IconPublic Loss Adjustors
IconPublications
IconRating Agencies
IconReference Books & Material
IconRegulatory Authorities
IconRisk Finance
IconRisk Management
IconRisk Surveyors
IconSalvage Operators
IconSpecialized Claims Investigations & Assessing
IconSurveys and Research
IconTraining Courses & Workshops
IconUnderwriting Managers
IconVehicle Accident Management
IconVehicle and Household Risk Inspection Services
IconVehicle Tracking
IconWellness Programs
IconWholesale Brokers
IconZZZZZZ
Image
  Subscribe To »

F&I shifting with the times

Published

2021

Wed

24

Mar

F&I Insurance last year celebrated 21 years of business and expansion with the appointment of a new Managing Director. This move heralds continued growth in the marketplace according to Executive Director and founder, Brian Muller. 

He looks back to 1999 when, after 15 years serving in the fire services and 10 years in the insurance industry, he founded the company Factory & Industrial (F&I).   He saw the need for an Underwriting Manager that seamlessly combined the skills of an insurer and experienced surveyors in the insurance sector.  “This shortage of expertise is still as true today as it was 21 years ago. It is definitely an area we are working hard on to improve and have partnered with Infiniti Insurance, not only as the underwriter of our motor book, but to provide internships for young people looking to get into the industry,” he points out.

Organic growth and diversification form the core of the F&I strategic approach. Two years after the company’s launch it set up as an underwriting agency specializing in fire insurance and operating in parallel with F&I’s own risk management operations in a symbiotic relationship.  Six years ago, F&I broadened operations into the international market by establishing a facility through Lloyds of London in conjunction with Tysers Insurance Brokers, the oldest independent insurance brokers in London and now also a shareholder in F&I. 

 

“F&I has grown steadily since its inception and is proud of its diversity, employing a staff complement of 40 people and operating nationally in South Africa. The business originally traded as “Factory and Industrial Risk Mangers”, rebranding its name to F&I in 2015 to cater for the diversification of the business and to focus our expertise on the general and commercial insurance broker markets, to cover industrial and manufacturing risks, hospitality, and green insurance solutions, among others,” says newly appointed Managing Director, Donovan Harvey, a finance specialist and MBA graduate with a strong insurance background.

He has been with the company since 2003 and has seen it grow from a solely Risk Management-based entity into a specialised property and motor underwriter. Donovan points to establishing a commercial motor facility with Infiniti Insurance in the SA market as a ‘huge step’ in the company’s history.  “It is definitely in line with our strategic objective which is to facilitate growth and development for our enterprise and its partners, through diversifying our product offering and expanding our business into commercial motor fleets.”

 

Donovan states it has been a pleasure to work with Brian Muller over the years and he looks forward to the challenge of this appointment with a mission to take the company forward into a new era. “The company initiated the transition to the new generation management to reposition F&I and create a strong platform, to keep the company relevant in the ever-changing short-term insurance field.

 

“Our business philosophy going forward embraces the dynamics of growth through strategic partnerships which will allow us to venture into new areas, products, and markets. A pioneering spirit is as important today as in the past and relationships built on trust are what have allowed us to grow as we have done over the past 21 years. Our strategic alliance with Infiniti Insurance once again highlights the benefits of this approach.”

 

Infiniti Insurance Chief Executive Officer Sharon Paterson says that in non-life insurance and more specifically in the specialist insurance arena, where Infiniti plays a leading role, strategic partnerships are the cornerstone of the business model.  “Successful partnerships require strong synergies, which along with shared values feature at the top of our selection criteria. The partnership then yields growth and allows for further initiatives critical to value creation.  The transformational leadership of F&I has been guided by Brian Muller and Steve Emms and has been well-timed and carefully designed to give long-term momentum to the enterprise. Infiniti’s engagement with F&I Insurance signals another milestone for both companies which are now focussing on capitalising on opportunities available in the reset of 2021.

Harvey concludes by outlining his approach as head of the company. “The formula that has laid the success for F&I in the past has been around building and maintaining strong partnerships such as the one we have with Infiniti and our Lloyds underwriters and this will continue to form the foundation of how we do business. We also believe that partnering with our brokers and being easy to do business with is key to staying relevant in this new insurance climate. It is as important as being able to resource fresh, young expertise to help address the changing needs of our target market … especially in the light of new challenges facing the insurance industry from climate change to Covid 19,” he stresses.

 

 
Source: Infiniti Insurance Limited
 
« Back to previous page Print this page » |
 

Breaking News »

Technical Excellence – Principles and Practice

Technical excellence is a term that is often cited in insurance, and especially so in relation to AGCS’s international clients with their complex risk profiles. But while it is frequently used, what does ...
Read More »

  

SAIA Bulletin -  March 2021

From the Desk of the Chief Executive: Viviene Pearson   In ...
Read More »

  

First edition of the Ombudsman’s Briefcase for 2021

In our first edition of the Ombudsman’s Briefcase for 2021 we take this opportunity to wish you a safe and prosperous year ahead. We face this year with a little more hope having emerged from a second wave ...
Read More »

  

POPIA 101

All businesses with employees, customers and suppliers must comply with POPIA, which comes into effect on 1 July 2021. Here is a practical guide to the most important aspects   With the commencement ...
Read More »

 

More News »

Image

Healthcare »

Image

Investment »

Image

Life »

Image

Retirement »

Image
Image
Image
Image
Image
Image
Image
Image
Image
Image
Image
Image

From The Glossary »

Icon

Term (also called temporary) insurance:

This insurance (or policy) can be for a fixed sum insured or for a sum insured that reduces over the term of the contract. It is not really a method of saving (as there is not usually a payout at the end of the term), but a cost-efficient way of providing for dependants on the death of the breadwinner. If the life insured survives the term of the policy, the policy has no further force, and all obligations on insurance company and policyholder alike ...
More Definitions »

 

Advertise

 

eZine

 

Contact IG

 

Media Pack

 

RSS Feeds

By using this website you agree to the Terms of Use.
Copyright © Insurance Gateway (Pty) Ltd 2004 - 2021. All Rights Reserved.