Alan Hickman, an expert in insurance with a special knack for managing distribution channels, is teaming up with insurance MGA, ARMD. Known for their specialized services that cater specifically to the UK tradespeople’s insurance requirements, ARMD’s collaboration with Hickman is poised to revolutionize the delivery of their tailored insurance solutions. Hickman’s influence is expected to extend ARMD’s reach significantly through a broadened broker network, offering a notable advantage in the market. His expertise in the industry and leadership in channel management will be key in driving forward ARMD’s mission to provide innovative and accessible insurance products for tradespeople—a sector that frequently encounters unique risks and challenges. This strategic partnership underscores ARMD’s commitment to delivering exceptional insurance options and solidifies its position in the niche market by leveraging Hickman’s extensive knowledge and relationships within the industry.
Strategic Partnership and Product Innovations
With a background enriched by his roles at LV= Broker and Cycler, Alan Hickman brings unparalleled expertise that positions him as a pivotal player in ARMD’s strategic growth. The co-founder’s role will largely revolve around bolstering the firm’s ties with insurance brokers, aiming to extend ARMD’s reach within this key market. Since the partnership with Sparta Insurance Services in December 2023, ARMD has been focusing on innovation and expansion, seeking opportunities to tailor its offerings to suit the requirements of tradespeople—a group majorly impacted by the constant threat of tool theft and the repercussions of underinsurance.
Hickman’s expertise in distribution will be an asset to ARMD as it seeks to enhance its product, ‘ARMD Tools In Transit’, which stands as a testament to the vision of providing tradespeople with a solution that caters explicitly to their circumstances. This revolutionary insurance offering protects up to £10,000 worth of tools, featuring 24/7 coverage and a web-based inventory system that facilitates expedited claims. The product is designed to mitigate the pitfalls associated with conventional tool insurance, which often leaves tradespeople in a vulnerable position due to lack or insufficient coverage.
Expanding Broker Networks and Addressing Market Gaps
With a staggering 83% of tradespeople lacking tool insurance and existing policies often inadequate, Hickman’s plan is key. ARMD’s expansion of its broker network throughout the UK is pivotal to delivering a top-tier tool insurance solution that offers mutual benefits for brokers and their trade clients. This strategy enhances access to vital protection against the rampant issue of tool theft which endangers tradespeople’s work.
ARMD’s initiative isn’t just a business move; it’s a targeted effort to fill a significant market void. Tradespeople grappling with tool theft and insufficient insurance will now find a dependable solution tailored to their unique needs. As ARMD ambitiously widens its broker network, its dedication to bridging this gap and providing premium coverage is poised to impact the industry, establishing a new benchmark for insurance standards.
Alan Hickman’s addition to the ARMD team highlights a shift in insurtech towards niche, high-tech insurance offerings. His role exemplifies the industry’s pivot to custom solutions targeting specific market gaps as crucial for insurtech progression. Professionals like Hickman are instrumental in fostering innovation and guiding the sector’s strategic direction. With his expertise, ARMD aims to enhance the insurance experience for UK tradespeople, ensuring they have comprehensive protection against their unique risks. This strategic hiring reflects a recognition of the value in combining insider knowledge with advanced technology to meet the evolving demands of specialized insurance markets. Hickman’s presence at ARMD is set to reinforce the industry’s commitment to addressing specific client needs through targeted insurtech advancements.