Raphy Goldberg of PHY Insurance Services on starting your own insurance brokerage

Background

Having worked for three different local brokers over a period of ten years, Raphy could see no clear career path to advance from his role as a commercial business Account Executive, and so decided to take his career progression into his own hands and start up his own business.

PHY Insurance Services was launched as an Appointed Representative of the Movo Partnership in April 2022, based in Hendon North London.

The PHY Journey so far

Raphy initially launched the business working on his own from his home in order to keep costs low.

The initial focus was on direct marketing, using Linkedin, cold calling, and attending local networking events, but Raphy soon found that referrals from clients and business contacts overtook the need for marketing outreach.

 As his he built his book, and his reputation was established, Raphy’s hard working approach, and philosophy of ensuring that all of his clients get a first-class service won increasing numbers of advocates and word of mouth is now by far his most powerful marketing tool.

Raphy has now taken on commercial office space, and is recruiting to build the team.

Why Movo

Raphy felt that a shared business philosophy and aligned culture were key. The chemistry with the Movo team was positive from the start:

An independent model:

“Movo is a very supportive Network, and at the same time very trusting. It’s a positive for me that they let me get on and be my own broker. Whilst there’s a broking desk available to help if you need it, when you want to broke business yourself, and choose your own insurers, there’s no pressure from them or any interference”

Raphy’s advice for brokers thinking of starting their own business

• There are no short cuts in starting your own business – be prepared to work very hard to ensure your business is a success!
• Raphy doesn’t limit himself to only dealing with only local clients, but follows up leads from anywhere in the UK if there is an introduction and a reasonable chance of success
• Give the same high level service to all of your clients no matter their size. Consistently excellent service builds your reputation and secures client loyalty – and you never know what other business interests or contacts a client may have, or how their business will grow.