Ed has been launched today to redefine broking.
“We’d like to introduce ourselves. We are Ed,” says chief executive Steve Hearn. “You may recognise our people – we used to be called Cooper Gay.”
Ed is the future of insurance and reinsurance broking, and the renaissance of a declining business. Three key pillars underpin Ed’s business philosophy:
- Ed is an independent broker for independent producers of independent business
- Ed exists to serve its client chain, never to compete with it
- Ed’s broad and deep expertise, international presence, focus on technology, and borderless business model support a genuinely global solution for each of its clients, for every risk
Yesterday afternoon Hearn, who was appointed as chief executive in November last year, addressed assembled Ed staff. “All around us, the world is changing. Ed is the embodiment of that change in the world of wholesale broking.” The industry must evolve, he said, and Ed has the vision to lead the way.
“The birth of Ed is the most obvious representation of our journey to redefine broking. It will not happen overnight, but we’ve already made significant achievements”, he told Ed’s team, who are located in all major insurance hubs around the world. “Ed’s heart is in London, but our brain is everywhere.”
Ed already has significant advantages over its larger competitors, Hearn said. “They face mounting challenges from outdated business models, focussing on central placement strategies, and conflicts of interest.” Ed brokes differently. “We will never compete with our clients”, Hearn said. “We will always search the world to find the solutions that are best for them, and never present options that simply serve our interests.”
Ed brokes differently. “We will never compete with our clients”, Hearn said. “We will always search the world to find the solutions that are best for them, and never present options that simply serve our interests.”
Ed is not tied to a central placing market, Hearn said, but operates based on line of business, not geography. “Our sector is stagnant. It’s time for a change, and that’s our opportunity. Ed is broking redefined.”