The fresh new face of Centricity!
We are thrilled to share our new website! As with the insurance market, nothing stands still so we felt it was time for a glow up! We’ve also enhanced the user experience and showcased some of the expert solutions we provide to businesses like yours, accross the UK.
After a third year of significant growth, we have a lot to shout about! 40% of that growth has come from exisiting client referrals which we’re really rather proud of! No one recommends anything that isn’t brilliant and tried and tested, so this will always be our most important KPI! We deliver on our promises and our clients are at the heart of everything we do.
If you’ve not checked it out already, take a peek, You’ll discover detailed sections outlining our expertise in various sectors, a comprehensive FAQ for quick answers, and insightful blog posts. We aim to keep you informed about the latest industry trends, products and share expert advice! www.centricitybrokers.com
Why Choose Us as Your Corporate Insurance Broker
Selecting Centricity as your corporate insurance broker means aligning with a partner dedicated to your business’ security and success. Our tailored insurance services uniquely position us to meet the diverse needs of your business. We ensure that your business receives the precise coverage it needs to thrive.
Our team is composed of seasoned professionals with a deep knowledge of the insurance landscape. This expertise translates into innovative, comprehensive solutions that effectively mitigate risks both today into the future.
Here today and well into the future, however your needs adapt.
Building trustworthy client relationships is at the heart of Centricity’s mission. Our approach is rooted in transparency, next generation claims management and a 360 Service Promise. Get in touch with the team today to discove the difference!
We currently have two apprenticeship positions available for talented individuals at our offices in Horsham, West Sussex. Successful apprentices will achieve the Insurance Practitioner Level 3 and fully funded Cert CII.
Previous experience isn’t required but a passion for working as part of a team, being pro-active and a passion to learn is essential.
As an award winning broker, CentriCity reward excellence with clear career pathways and continual professional development, a show stopping holiday allowance plus a range of personalised lifestyle benefits to boot!
Get in touch today if you’d like to learn more! careers@centricitybrokers.com
#horshamopportunities #career #apprenticeships #localbusiness #horshamtalent
“We don’t undertake design so don’t need Professional Indemnity Insurance (PI)” is something we hear frequently when speaking to new prospects, this common misconception and stance used by some less experienced brokers can lead to significant exposure.
Our stance on any risk clients may face is to explore the hidden exposures to ensure your business is properly protected avoiding potential exposure further down the line.
Temporary works are commonly part of a contract such as hoarding, permitter fencing, access roads and temporary barriers and support. These works can go wrong leading to consequential loss which can be expensive to correct.
Where any business is contracted to Design & Construct, significant exposure exists, even where the designs or other professional services are sub contracted out to a Third Party. In the event of the design being inadequate/defective this would lead you to being responsible for the costs whether you did the design or engaged others to design on your behalf, including any defence costs and expenses. The mere fact you may have engaged a Third Party to provide the design doesn’t mean you are exempt from liability, unfortunately rights of recourse is not always possible and therefore all the costs involved could fall at your own door and these costs can be significant and put your business at risk.
The majority of projects will require plans and designs to be tweaked, even ever so slightly, in order to complete the works. The moment this happens, your business is responsible for those changes with a pure PI Exposure. Even an informal design check to approve them creates huge risk should those designs and plans later fail. This is a crucial point to note, PI insurance is a claims made based policy cover and therefore it is not the insurer at the time the error is made who deals with the claim it is the insurer who is on risk at the time the error is first notified, which could be many years after!
If we consider materials, even the slightest change in manufacturer specification can cause devastating results, or perhaps you have been unable to source the original materials specified and replaced with a similar product, this could have serious consequences for the firm in the event of an inadequate specification.
If you’d like to chat through your true exposure with our experienced team then we are here to navigate through the myths!
The motor insurance industry is currently facing a challenging period, impacting policyholders through a surge in premiums. This environment is shaped by a combination of factors, creating a scenario where claims inflation is at a record high.
Supply Chain Challenges
Global events such as the Russia-Ukraine war, Brexit, and the enduring effects of Covid-19 have significantly disrupted the supply chains for the UK’s motor industry. According to the Association of British Insurers, a substantial 40% of vehicle repairs experience delays in obtaining the parts they need.
The consequences are widespread, resulting in prolonged repair times, shortages of courtesy vehicles, increased costs for hire vehicles, and a rise in vehicle thefts for parts. Ultimately, these disruptions contribute to higher insurance premiums for policyholders.
Technological Advancements
The adoption of Electric Vehicles (EVs) and the integration of Advanced Driving Assistance Technology (ADAS) add complexity to vehicle repairs. Repairing technologically advanced vehicles is more expensive, and the shortage of semiconductors, intensified by disruptions in Ukraine, affects both new and second-hand vehicle supplies, leading to larger prices and total loss values.
As vehicles become more sophisticated, the shortage of skilled labour in the repair sector compounds the challenges. The necessity for specialised expertise in handling electric vehicles further extends claims settlement times and increases repair costs.
Labour Shortages in the Repair Sector
A significant shortage of skilled labour in the motor repair industry, influenced by factors such as reduced EU immigration post-Brexit, an ageing workforce, and the demands of repairing electric vehicles, results in prolonged claims settlement times and increased repair costs.
Injury & Rehabilitation Costs
General and wage inflation, coupled with extraordinary inflation in the care sector, significantly impact future losses in large claims. The shortage of care workers amplifies these challenges, contributing to a 25% increase in the cost of care for large claims.
Energy and Fuel Price Rises
Rising energy prices, influenced by the Russia-Ukraine war, affect manufacturing, repairs, maintenance, and day-to-day operations in the motor sector. These increased costs are directly passed on to customers through elevated repair costs.
Vehicle Theft and Insurance Fraud
A surge in car thefts, particularly keyless thefts, and a rise in application fraud contribute to increased insurance premiums. The shortage of parts and materials due to thefts adds to the overall cost of insurance, and policyholders may encounter difficulties in obtaining insurance in the future.
Personal Injury Discount Rate (PIDR)
The uncertainty surrounding the Personal Injury Discount Rate adds another layer of complexity. The rate, set by the Lord Chancellor, influences compensation payments for personal injury claims, and the scheduled 2024 review creates uncertainty about its potential impact on large personal injury claims.
How Can We help?
While many factors are outside of our control and yours as a policyholder, pro-active claims management is vital when it comes to contolling and mitigating costs as is prompt claims reporting.
Depending on the source, Insurer data suggests that the cost of claims reported within the first 12 hours of a loss can be on average a significant 77% lower than those reported a week after the event. After 24 hours of the loss this figure reduces further to 55%.
Centricity’s QR Code initiative rolled out two years ago has been a huge success enabling our clients’ drivers to report incidents in real time at the scene of an accident providing it is safe to do so; allowing us to assess and manage potential claims as soon as they occur. We cannot prevent accidents but we are ahead of the game when it comes to claims management!
The motor insurance industry is navigating a challenging terrain marked by global disruptions, technological advancements, labour shortages, and inflationary pressures. Now more then ever is the time to choose a broker who is geared up to really protect your business and ongoing costs through these unchartered times.

According to Insurance Age “Ten people have been arrested across the country, and 18 vehicles seized during a two-week police operation to tackle commercial insurance fraud. During the operation, a former insurance broker was charged with 39 counts of fraud by false representation, and one count of money laundering. Gary Whipps, 31, of Thundersley Church Road, Benfleet, Essex, is due to appear at Chelmsford Magistrates Court on 1 December 2023.
People who set themselves up as commercial ghost brokers leave drivers who believe they have bought a legitimate insurance policy uninsured. Over the past 12 months, ghost broking has been repeatedly flagged as a problem affecting the insurance sector. In May, LV revealed a 143% rise in its ghost broker referrals into IFED, measured year-on-year between 2021 to 2022. In November 2022, Aviva confirmed that ghost broking made up 15% of all policy fraud.”
So how do you protect your business against buying from a ‘Ghost Broker’?
– ALWAYS check the FCA Register using the Firm Reference Number here https://register.fca.org.uk/s/ to ensure the firm you are speaking with firstly exists and secondly has the correct permissions to sell you the product you are seeking
– We always recommend choosing a BIBA Broker too – The @British Insurance Brokers’ Association has 1,800 Regulated members representing the interests of insurance brokers, intermediaries and their customers by campaigning on all aspects of insurance to ensure the industry is united and working for brokers and customers alike.
Most of all, if it sounds too good to be true, it probably is!
CentriCity Insurance Brokers Ltd are regulated by the Financial Conduct Authority, Firm Reference Number 963828 and proud members of BIBA.
We did it!
Insurance Age’s UK Broker Awards 2023 were packed with nominations for the best of the best and elite of the broking world and we’re absolutely delighted to say Centricity Corporate Insurance was crowned Start Up Of The Year fending off some tough competition!
On accepting the award, Becky said, “Thank you to our incredible team! The service you deliver daily to our wonderful clients and the passion you inject into our fantastic business is infectious and truly recognised tonight!”
