NIBA / Special Feature
Is Now A Good Time to Grow? There are some key things to check off before pursuing growth, says Andrew Knowles, National Segment Lead – Insurance, Business Banking at Macquarie Group. “Make sure your business has assessed the drivers of growth, determined its strategy for growth, and is ready for it. That means having the foundations, infrastructure, scalable systems, and a team that’s prepared to support the next stage. “Growth isn’t something driven by just one or two people – the whole business needs to focus on supporting the growth you are hoping to achieve. Start by evaluating the current skills within your business and identify the training and development needed to support growth activities.” At a starting level, too, financial stability is key, says Adam Holster, Business Banking Executive at NAB.
“That’s really important – you’ve got to have control around income and expenses and be seeing some consistent revenue growth.” Then comes market demand – does your target market increasingly need your services and products? And, critically, do you have the capacity, from both a people and a tech perspective, to handle more clients without compromising on service? Knowles says, “Growth isn’t just about getting bigger; it needs to be part of a clear plan. The right time to grow is when it supports your long-term goals and creates real value for your clients, your people, and the business. Think about what kind of growth you’re aiming for – whether it’s more clients, better capability, or improved profitability – and why it matters.” When charting growth, it’s something of a personal journey, and each broker business’s story will be different. Jeff Moule, Chief Broking Officer at Aviso Group, says, “Our brokerages take
different paths to growth based on their business mix, client base, and market. From improved marketing capability to the adoption of new sales tools, and the continuation of strategies that have worked for them for decades, we see strong examples of consistent results and innovation at a local level.” Growing Businesses Based in Tech For almost every business today, having the right tech stack is vital. If you want to grow and scale your business, you’ve simply got to have the right tech in place and working well – and easily capable of scaling up at a moment’s notice. Knowles says, “When determining what systems your business should be using, it’s important to have an eye on today, but also the future, to ensure those systems will continue to provide value. The goal should be to enhance productivity, improve the client and employee experience, and strengthen risk and compliance. Our benchmarking shows the top-performing
58 / INSURANCE ADVISER JUNE/JULY 2025
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