Alan Hickman, Former Head of Operations at LV= Broker Joins ARMD to Lead MGA Broker Strategy
ARMD, the award-winning insurance MGA that flies the flag for the £6.5bn underserved tradespeople market in the UK, announces that Alan Hickman, also founder of Cycler, has joined as co-founder of ARMD to support the growth of the firm’s Insurance business, which is now 100% focused on distributing its insurance offering via brokers.
In December 2023, ARMD partnered with their first wholesale broker distribution platform, Sparta Insurance Services, to provide a new product that gives 24/7 protection for tradespeople’s tools. Following the success of this product, ARMD is now accelerating growth in the broker market.
“We are thrilled to have someone of Alan’s calibre, expertise, and experience of working with brokers join ARMD. In his role, he will lead the shaping and execution of our MGA broker-focused strategy, and drive innovation and development of our product portfolio,” said Devin Chawda, CEO at ARMD.
“Since launching our first product at the end of 2023, we have had great feedback, as many brokers had struggled to secure comprehensive coverage at the right price for their trade clients from the incumbent insurers,” he continued. “Alan understands the intricacies of the intermediated insurance marketplace, and as such he is a perfect fit for us in forging strong partnerships in the market.”
Alan Hickman commented on his appointment, saying: “The ARMD leadership team have a strong background of delivering innovative technology solutions for tradespeople. Having known the team for some time, advising on insurance elements of their MGA business, it made sense to join as co-founder to help the business scale and achieve its ambitious growth plans with brokers in the UK.
“I’m looking forward to building upon long lasting relationships and creating new ones with brokers and distribution partners who need a trusted, resilient, and innovative insurance partner to deliver strong performing products, with rapid claims payments, to their tradespeople and commercial vehicle clients.”
ARMD is now actively recruiting brokers up and down the UK to distribute their market-leading solution as it is the perfect ancillary product, a win-win for both brokers and clients.
UK tradespeople are currently under protected, with a tool theft happening every 15 minutes. Furthermore, 83% of tradespeople do not have tool insurance. While larger firms may have insurance, often it may not provide adequate cover, for example by requiring people to empty their vans every night.
The insurance product, known as ‘ARMD Tools In Transit’, provides up to £10,000 cover for tools left securely in a van 24/7. It includes a web-based tool inventory, so tradespeople provide evidence of ownership to obtain fast five-day claims payments (compared to a five-week industry norm).
