One of the biggest draws of an insurance broker is that they do not charge a fee for their service - however, this has thrown up its own ramifications for the industry, and broker remuneration structures have received some heavy criticism in recent years.

Brokers have generally rallied against charging fees to the client to eliminate conflicts of interest, but, within this landscape, one brokerage has been doing exactly that for almost a decade.

Frank Risk Management was founded in 2008 with a vision to “disrupt the traditional approach to insurance,” and director & senior broker Rene Swindley still firmly believes that this is the way to put the client at the centre of the business.

“I think this approach has led to us challenging the way things have always been done in the industry,” Swindley explained.

“Ten years ago, we decided to rebate all commission that insurers were offering as part of their commercial insurance product to the client, and charge a fee for the service. At that time this was quite revolutionary, and I still believe strongly that this removes the conflict of interest that most other brokers face.”

Swindley says that when the model was started back in 2011, it was initially very hard for insurers to support the business as they were set in their ways, and often not willing to compromise on things like new tech platforms. However, he says, times are changing, and insurers are becoming much more welcoming to tech-led, customer driven insurance businesses.

“We’ve been trying to effect change for a number of years, and looking forward, we need to prepare for the next generation of insurance buyers,” Swindley said.

“They’re a different breed, they think differently, and their expectations will be different. They want flexibility, assurance and assistance in managing risks, and communication in plain English.

“Let’s give control back to the customer, and help them