Private medical insurance specialist Chase Templeton is to expand its Lancashire headquarters to accommodate a new Sales Centre of Excellence and additional staff due to join the business in the new year.
Chase Templeton has signed a lease on a 2,500 sq.ft. building adjacent to its existing offices which will provide it with 50 percent more office space.
The move comes just two years after the broker relocated to its current home having outgrown its previous premises in Blackburn. Since then it has more than doubled staff numbers in order to manage acquisitive and organic growth which have seen the business expand to manage in excess of £145m in annual premium income.
“We are making a significant investment not just in additional office space, but recruitment, training and technology. All are vital if we are to maintain and build upon our impressively strong retention rate, which runs at 90 percent-plus, and the customer service which underpins it,” commented commercial director Richard Holden.
The new building will house a dedicated Sales Centre of Excellence with all back-office functions retained in the existing offices. This will complement our newly opened new business hub in Bromley and existing centres of excellence in Darwen and Bridgwater respectively.
He said that in order to effectively manage future growth the company is in the process of recruiting 15 additional staff who are joining the business this month and in early 2016, further bolstering the current payroll to 128. The new recruits will include four account managers and two newly created posts of business retention manager and a micro-SME team leader.
“Because we are an acquisitive business it is particularly important that we invest in the people, skills and technologies necessary to deliver the level of customer service which drives satisfaction and retention,” said Holden.
“We already know such investment generates significant returns with clients we now serve being overwhelmingly satisfied and loyal. They also report feeling more confident in our ability to deliver on service and value because of our size and strength, an increasingly important factor within not just the PMI sector but the wider financial services market.”
Holden added: “We are always acutely aware that if we don’t meet or surpass client expectations then our acquisitions would be all but worthless” and pointed to the company’s five-star Trust Pilot rating and its own client surveys. The latter reveal that 98 percent of Chase Templeton’s clients are either satisfied or very satisfied with the company’s service, with the same number saying they would recommend the company.
The office expansion and bolstering of the company’s management structure follows the launch last month of a strategic push to complement an ongoing “buy and build” acquisition strategy with a greater focus on securing organic new business. This followed a near 20 percent year-on-year increase in SME company medical and employee benefit revenues.