Aventum Group CEO shares thought process behind global restructure and rebrand

Aventum Group CEO shares thought process behind global restructure and rebrand

2021-05-04 08:45:00

“It was fun, although it wasn't easy,” he said. “It's been 25 years since we built the business from scratch. We started the Yellow Pages at a conference table, as a Direct Insurance Agency in 1996, bringing in the butcher, the baker and the candlestick maker, if we could place them. .. We are proud of what we have accomplished. We have fantastic colleagues in the company and a brilliant culture. And I think after 25 years of work it is time to take it off and show it to the world. to reveal. "

The restructuring will bring together the group's UK and international teams into one combined global insurance group consisting of two distinct companies: the international specialist wholesale (re) insurance broker, Consilium, and its international specialist wholesale (re) insurance MGA, Rokstone. In the UK, Direct Insurance London Market will change its name to Consilium, operating as the UK branch of the international broker. Meanwhile, Aura Underwriting, iSure, iFarm, Rokstone Construction Risk Underwriters and Novus Underwriting will all become part of Rokstone.

“From a day-to-day perspective, our customers will still be dealing with the same great group of people, the same culture and the same 'can-do' attitude,” he said. we have a real presence in the marketplace that can leverage our existing system efficiency and innovation and improve the experience of all our customers. ”

A quarter of a century of growth has allowed the group to expand into a variety of niche MGA companies, he said, and the idea of ​​bringing them all together under the & # 39; Aventum family & # 39; made sense because it enables the progress that each company had made individually. getting together. Whether it was technology, innovation or talent, the rich opportunities within each company needed to be leveraged to create both greater brand value and cross-selling.

“As the company was gaining considerable scale, we knew that in order to move to the next level – whose multi-billion dollar vision and billion dollar brokerage business is just a milestone – we needed to provide better efficiency, more leverage and more weight. in the market, ”he explained.“ There are probably a lot of people who didn't realize until (now) that Novus is connected to Rokstone which is connected to Aura (and so on). The fact is that we have already arrived, we just did that under cover of darkness. "

There's always a method to the madness behind how the Aventum team picks names, Bearman said, and the latter was no exception. The team brainstormed many ideas to emphasize corporate culture and when Aventum, whose Latin root means doing things with sincerity, was chosen, there was a strong consensus that the name hit the right note.

Choosing the name is of course the easy part, and the Aventum team is not short of ambitious strategic growth plans they look forward to to gear up. With 25 years of talent acquisition and market innovation to build on, Bearman said, the focus is on maintaining that upward trajectory. This includes robust M&A plans, for which the group has a multi-million pound "war chest" waiting for the right opportunities, and remains committed to being "fiercely independent", culture-driven and people-oriented. Looking at his M&A strategy, where an existing pipeline of deals is already underway, he noted that Aventum has no intention of becoming a new consolidator and is not looking for scale simply for the sake of scale.

“We try to focus carefully and continue to build the niche platform and the environment in which we operate. We have a number of goals that we are talking to that tick that box for us, & # 39; & # 39; he said. "This is about the long-term horizon for us, we are an owner-managed company, so it's about continuing what we've been doing for the past 25 years, but also accelerating now that we have that momentum."

Culture is integral to what has allowed Aventum to survive and thrive since its inception, he said, and while many companies talk about a good culture game, the group is going one step further by enforcing a democratic environment in which voice and views are welcome. from everyone. Having that family culture means that everyone takes care of each other because there is a common goal and everyone is moving in the same direction.

And who better to become the Partner Brand Ambassador of a group embarking on an & # 39; epic journey & # 39; more than the celebrated explorer Sir Ranulph Fiennes (pictured directly above)? Sir Fiennes was the obvious choice, according to Bearman, as he reflected the team's adventurous ethic and desire to explore the unknown.

“As for me,” said Bearman, “I'm 25 years old and I'm excited. I get up every morning with even more excitement than ever before for the next day. And whether it's the coffee or not, I know no, but i'm really excited for the next 25 years, i think the future looks extremely bright for the company, and this is a very positive step towards becoming that & # 39; best company in the industry & # 39; So these are exciting times for us. "


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