“Taking the leap not once but twice”
Ben Woodall’s journey to starting up an insurance brokerage and subsequent move of FCA principal
When running your own insurance brokerage, it can be extremely difficult to meet your client’s needs whilst growing your business and staying on top of renewals. Gaining the courage to take the leap can be daunting, but those who do it know it’s one of the most rewarding things they’ll ever do.
Finding the right partner to support you is imperative to ensure your best chance of success. Momentum’s dedicated team of account handlers have access to over 240 markets and have built a strong rapport with insurers to get the best deals for your customers, leaving you to focus on acquiring new business and well… having some ‘you’ time.
Don’t just take our word for it, Ben Woodall, owner of Woodall Associates moved his business to Momentum in 2021 having originally set the business up in late 2017.
It was during a time when there were a lot of mergers and acquisitions. My company at the time moved to Stoke and it just wasn’t feasible for me. After my father sadly passed, I was able to set up my own business and grow at my own pace.
How did you end up partnering with Momentum?
I started to feel deflated with my existing FCA Principal, unrealistic targets, micromanagement, and new people joining the business made me realise that change needed to happen. Several close acquaintances in the insurance industry told me about Momentum, so I started to chat with their Business Development Director, Alistair Body about a year before I decided to take the plunge and move FCA Principal. He wasn’t pushy at all and was always available to answer any of my questions and guide me on the best options for my business.
What’s the best thing about being a Momentum partner broker?
The support from the company is second to none. I feel like I’m part of a team again and not a one-man band. Knowing I can just pick up the phone and talk to the team whenever I need to, just puts my mind at ease. I love that I can just bounce ideas off people and how my business aligns with Momentum. It’s a great partnership!
If you had the chance to start again, what would you do differently?
It’s all about due diligence checks and making sure that you partner with the right company that’s going to match your aims and objectives. I probably wouldn’t do anything different again – I have worked with other companies and I now know what a great partnership looks like. You’ve got to appreciate where you’ve come from, to be proud of where you are today.
What would you say are the biggest challenges you’ve faced since starting up your own insurance brokerage?
I initially found it hard to let a team broke on my behalf. Relinquishing that control and trusting a partnering company to care about my business as much as I do – there’s always that worry, especially when I thought I enjoyed that part of the job. But having now been with Momentum for over a year, I know that I have absolutely nothing to worry about!
What does a typical day look like for you?
I manage my own diary now. I look at potential prospects, renewals, and pre-renewal meetings with clients. In the summer my routine is more flexible; I do play golf as and when I can, maybe twice a week. I also use golf to network my business and build rapport with clients/prospects.
Having gone through the experience of my father passing away, my work-life balance has become more important than ever and Momentum allows me to enjoy this time.