BIBA, the British Insurance Brokers’ Association, recognises the success of young insurance brokers with the annual award. The award is intended to “encourage commitment to the future professionalism of the insurance industry.”
The award, which is a highly prestigious commendation, is given in recognition of an outstanding contribution to broking. In order to be eligible for the award, a young broker should demonstrate excellent performance, initiative, personal progression and a commitment to broking.
The award, which is now in its eleventh year, has a strong legacy. Young Broker of the Year award winners from previous years have seen their reputations and profiles enhanced by the commendation, enjoying excellent press coverage and generating good business opportunities.
BIBA have recently merged with the Institute of Insurance Brokers. BIBA membership now includes just less than 2,000 regulated firms, making the organisation the UK’s leading general insurance intermediary.
They represent the interests of insurance brokers, intermediaries and their customers. BIBA are the voice of the industry and play a key role in the regulation, guidance and support of industry issues and standards.
BIBA’s strong influence within the industry means that a commendation or award from BIBA is a valuable accolade.
Mr Mogra, who operates through two websites in addition to his local premises, attributes his success to a combination of a strong work ethic and his willingness to embrace technology.
“The internet is changing the way things are done; there is no doubt about it. Consumers have a lot more choice at their fingertips than they did ten years ago when the BIBA award first began.”
“We operate two websites – a comparison site and a broker site. We’re always looking to add more value to the customer’s experience, whether by offering more choices, by improving the site design, through exemplary customer service or even just by maintaining a well-equipped glossary section to help de-mystify some of the more complex aspects of insurance so that they can make an informed choice.”
“Receiving the Young Broker of the Year award is a great honour. It feels good to have my hard work recognised.”
With the previous winners of the BIBA Young Broker of the Year award reporting a positive impact as a result of the commendation, Mr Mogra intends to capitalise on his achievement. Mr Mogra has already relaunched both www.arkwrightinsurance.co.uk and www.rapidcover.co.uk, since receiving the award, in order to offer improved design and functionality to his customers.