Member Article

Fish Insurance celebrates 40 years of business

A small high street broker which went on to become one of the UK’s largest providers of disability and independent living insurance is celebrating 40 years of business.

Lancashire-based Fish Insurance now has £12million Gross Written Premium (GWP) which has risen from approximately £9.5million over the past three years.

It has also amassed 80,000 policyholders for its specially designed product lines which include car, travel, mobility scooter, wheelchair and equipment, prosthetics and life insurance, as well as cover for people who employ personal assistants or carers.

The company was founded by Mike Fish 40 years ago as a general insurance brokerage concentrating on affinity schemes. In 1986 the company shifted focus to become a pioneer in the Independent Living Insurance market and the Mobility and Disability Equipment scheme was launched.

Disability Motor, Personal Assistant Employment Protection schemes followed in 1989, and the Personal Assistant Employment Protection Scheme was launched in 1997.

Speaking about why the business evolved from a general insurance brokerage to a specialist insurer, Mike recalls how he was trying to find car insurance for a client with paraplegia, only to find that companies were either not prepared to quote or quoted very high premiums.

He said: “I was disgusted by the unfair manner that people with disabilities were being treated when trying to arrange motor insurance. From then onwards I dedicated what talents I had to overcoming discrimination against people with disabilities in the insurance industry and concentrated on designing bespoke cover.

“The cover was geared to disability issues and everything that an able bodied person would expect was in the policy, along with everything a person with disabilities needed. During the last 40 years it has been copied by many, but the Fish Insurance policy is still the leading motor insurance policy in the UK.”

By 1998 Fish Insurance had disposed of its general insurance business and made Independent Living Insurance policies its exclusive focus.

Over the next 10 years several more market-leading policies were introduced and policyholders reached 60,000 by 2008. Mike Fish stepped down from running the business following a successful sale to a private equity house.

In the same year, John Garrard joined the senior management team at Fish Insurance, helping the company to develop new policies, streamline operations and grow policyholder count. John became managing director in 2013.

2014 saw the launch of new home, prosthetics, chaircare and personal health budget insurance products as the number of policyholders reached 75,000, and in 2015 the company moved to new offices as a result of its continued growth and strong product pipeline.

In 2016 Fish Insurance reached 80,000 policyholders, launched life insurance and funeral planning products and was acquired by PIB, one of the fastest-growing insurance brokers in the UK. It also expanded into a new sector with the launch of subsidiary brand Fish Childcare Insurance, which specialises in public liability insurance for childminders and childcare professionals.

From its headquarters in Preston, Fish works closely with customers, healthcare professionals, local authorities, mobility and healthcare equipment dealers, charities and insurers.

Managing director John Garrard, said: “To grow and reach the age of 40 a company needs to do more than simply provide a good service at a fair price. From the very beginning Fish Insurance has been keeping things simple and ensuring there is clarity in what we do, giving customers peace of mind so they can live an independent life.

“We regularly invest in our systems and our people and have doubled our staff numbers over the past 10 years. We are fortunate enough to employ a talented team of people who continue to take our business forward and ensure we deliver the best service to our customers as we celebrate this important milestone.

“Over the past four decades we have seen vast changes in both our business and the insurance industry, as well as significant advances in technology. Fish has stayed ahead of the curve which has been key to our growth and sustainability, and we’re now looking forward to what the next 40 years will bring.”

This was posted in Bdaily's Members' News section by Fish Insurance .