Broker profile: 'quality advice is absolutely paramount'

Sydney-based Scott & Broad MD Andrew Miller unexpectedly transitioned from the UK to Australia, and 20 years on he helps secure protection for some of Australia’s large/middle market corporate clients.

What’s been your career journey?

I was backpacking in Australia, and then in Thailand on my way back to the UK when I met my wife who was holidaying there. As she was based in Sydney, I decided to return to Australia and have now been here for over 20 years.

I got a position at CGU in their liability claims area and later moved to a broker development role. I made the move into broking about 10 years ago. Scott & Broad was one of the brokers I was servicing and one I had always admired due to their reputation, integrity and overall, great team and culture. So, when they asked if I would consider a role as an account manager I jumped at the opportunity. It wasn’t something I was necessarily thinking about at the time, however I was excited to take on the new challenge.

I’m now a shareholder and MD here at Scott & Broad. Along with Mark Elphick, the CEO, we are now running the business with a team of 25.

Covid causing shutdowns was a daunting time. We’re only relevant if our clients remain in business, so it was quite an unsettling time not knowing how long the pandemic would last and how most businesses would survive it.

Fortunately, on the whole most of our clients have come through, albeit with some having to completely change how they operate. Our role has been to support our clients through this uncertain period not just with their changing insurance needs but often just moral support or a shoulder to lean on.

At the same time, running a business through the pandemic has been challenging. Our priority throughout was to maintain high standards of service to our clients and continue to provide a safe and secure business for our staff.

Who are your clients and how do you operate?

Licensed clubs and vehicle dealerships are significant portfolios of ours and we have a real specialism in these two industries. We also have a mortgage broking professional indemnity scheme that assists thousands of brokers in Australia obtain exceptional cover at an affordable premium.

I manage insurance for many licensed clubs, such as RSL clubs, leagues clubs, bowling clubs. I also look after a large book of corporate/middle market clients across a range of industries.

Our business prides itself on providing quality advice and service. Pricing is important of course, however the primary objective is to provide the right protection for the client. How do we do that? We listen and ask questions to fully understand our client’s business. Only then can we advise and make our recommendations.

How is the insurance market?

Every broker has the same issue with insurance: rising costs, shrinking capacity, challenging insurer terms and conditions, floods, bushfires.

It’s a really challenging environment for a broker to operate, however we see this as a great opportunity to demonstrate the importance of providing quality advice. While we may not always be able to deliver news to a client that they wish to hear, we will always do this in a timely manner that allows the client to fully understand the issues and consider the options that we present. Insurance premiums for most businesses are one of the biggest expense items on their P&L and therefore allowing the time for the client to consider and ask questions is critical.

Once you spend some time explaining the situation and the options available then we find that paying the insurance premiums becomes less of a grudge purchase by the client. If they understand the importance of that insurance contract, and how it’s going to protect them, their families and their businesses, then they’re going to be more respectful of the advice that you’ve given and the investment that they’re making in protecting themselves.

We provide a claims management service and our team pride ourselves on being proactive throughout the life of a claim. It is at this time we can make such a difference to what is in most cases a very stressful time for any client.

What do you enjoy outside of work?

I ski and get down to the snowy mountains as much as I can. That’s my love in the winter, and then outside of that, I do a lot of mountain biking, both racing and leisure. There’s nothing more I love than being out on a trail in the middle of nowhere, that’s my mental health time.