A decade of growth for loss adjusters

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Chartered loss adjuster, Agrical, is celebrating ten years in business this month.

Since it was formed in 2002, the privately-owned company has doubled its staff to 57, tripled its turnover to almost £4 million, and quadrupled its client base to more than 30.

The company was born out of a merger between Morris Associates and Phoenix Chartered Loss Adjusters in 2002 and operates from 22 locations nationally, with its head office based in Tadcaster.

During the last ten years, the firm has evolved as well as grown, using its core business expertise within the farms and estate sector to branch out into private clients, commercial and leisure.

Nigel Collinson, Agrical’s managing director, said: “Our core business is agriculture - farms and estates - but we’ve moved with the market and tripled our turnover. Over the last ten years, land use has diversified, with a change in focus to leisure, or other alternatives, such as renewable energy schemes for example - and we’ve looked to keep pace with these changes making sure we have the expertise to respond to the claims arising in these diversified land use areas.”

To ensure growth, Agrical’s directors looked to the premium products offered by the insurance companies and moved into those markets. The addition of Agrical’s Private Clients division seemed straightforward as the company was best placed to offer this service, already having the expertise and level of service required by the insurer and the policy holder.

Mr Collinson continued: “We’ve built our reputation on quality, innovation and performance in our field. And by offering premium, niche independent loss adjusting and claims management services to the insurance industry, Lloyds and London market as well as self-insured bodies, we’re working with insurers who value this high level of expertise and service.”

During the last ten years, the company has watched with interest as the larger loss adjusters moved to support the mass household insurance market, while they have done the opposite and invested in a premium product.

“Our clients are pleased we’ve stayed true to our core business and objectives,” added Mr Collinson.

“We’ve recently added Agrical Private Clients to our services, appointed another loss adjuster in Scotland to meet the challenges of demand and the geography of the region and we were featured in the top ten of the 2011 Loss Adjuster 360 report.”

He said the emphasis now was to continue mapping the premium insurance products and to grow the Agrical Private Clients division. The company will also be working on its succession planning, providing additional training to the team to maintain its expertise in the market place.

Mr Collinson added: “Land use will continue to diversify with the economy; as it is, leisure is unfashionable at the moment but we’ll always need food and cheaper energy is on everyone’s agenda. Much will depend on the economic and political landscape but our role is to move with the times and ring the changes to meet the demand of our clients and their policy holders.”