Innovation Focus Pays Off For Insurance Broker
Solid preparation has proved useful for McCarthy Insurance Group over the past year, allowing the firm to maintain high-quality client services. “Our disaster contingency plan kicked in pretty well,” says CEO and managing director Paul Kavanagh. “The majority of staff were able to take their integrated screens and office phone home, and once they were able to access the internet, it was similar to sitting at their desk.” The company also revamped its website recently, which Kavanagh says resulted in a boost in online enquiries. “We see our branch network and localised staff as our biggest asset, as local knowledge is key in order to secure the best prices from insurers. Our new website is creating more ‘genuine’ enquiries than ever before, and each enquiry gets a call back from an employee who wants to help solve a problem.” In Kavanagh’s view, Brexit’s impact on the insurance industry has been larger than most people realise. “Brexit has had a huge impact on businesses, clubs and voluntary organisations. London and Gibraltar were the go-to places for many niche risks. They all believed that a ‘deal’ would give them full access to the EU, which did not happen. Many of these insurers decided not to take on the difficulty and expense of being regulated by an EU country. Slowly, a few of them have come back, and we are working hard to persuade new entrants into the Irish market.” Developments for McCarthy Insurance Group over the last year included joining forces with the Licensed Premises of Ireland, a new body servicing hotels, bars and restaurants. “We have also introduced a new EU marine facility to replace some of those UK facilities that are no longer available here. We also revamped our hairdressers’, barbers’ and beauticians’ scheme,” says Kavanagh. In the last 12 months, the firm completed several acquisitions and redeveloped its Sandyford Business Park office, while Mark Duggan was appointed as manager. Kavanagh adds there is reason for optimism as the pandemic recedes. “We are ‘glass half full’ people,” he says.