After 30 years at the helm of local Insurance broker firm Hurford Parker, Jeff Parker can begin to take a back seat knowing the business is in good hands. Jeff started Hurford Parker alongside Jim Hurford in 1994 as a response to ensuring local businesses and property owners had a local ‘on the ground’ insurance broker firm that would be alongside them when the unfortunate happens.
Today Jeff has certainty that his efforts in nurturing staff and increasing their responsibilities as well as introducing son William into the business in 2017 has paid off. “A lot has changed over 30 years but what hasn’t changed is that we continue to deliver to our customers a promise which is ‘trust us and we will be there when you need us’,” Jeff proudly says.
That promise has been called on many times over 30 years but the most recent event, Cyclone Gabrielle brought Will and the team to the fore, stepping up and keeping to that 30-year promise. As Will reflects on the months after the cyclone, the Hurford Parker team has gained further respect from their client base which included many businesses and property owners that experienced damage or loss to their homes, buildings or equipment or simply doing business was interrupted.
“I knew the cyclone was either going to make or break us and if ever there was a time for us to step up, then this was it. “They’re (clients) under a lot of stress dealing with damage to their home, property or business and all they want to know is that we are in their corner,” Will says.
In Hawke’s Bay insurance payouts are expected to be over $1 billion. Hurford Parker has a solid portfolio of local businesses, rural and personal clients across a wide range of industry sectors throughout Hawke’s Bay, the east coast and beyond.
They expected clients would be impacted and that was the case with over 1,000 claims and millions of dollars in claims value. In the immediate aftermath of the cyclone Will contacted senior managers within the large insurance companies they partner with and put forward a plan that included offering progress payments to claimants as well as setting up a claim handling team, based in the boardroom office.
Over the weeks following the cyclone Will and the team worked around the clock. Will recalls getting into the office most days around 6am and working through to 6pm as well as responding to emails late in the evening and in the early morning. All the while Will’s wife Olivia was heavily pregnant with their second child. “I remember the day Olivia gave birth when I was at the hospital at 6am and then back at the office at 8am,” he said.
Will’s desire was to make sure that the firm’s clients had certainty that they could get on with their lives having lost their homes, equipment or their businesses were disrupted. “Our clients have been really appreciative of what we did and how we keep to our promise and it’s paid off with many new clients coming on board since the cyclone,” Will says.
The long hours tested the team but both Will and Jeff made sure the team was well looked after, especially with their personal mental well-being. Some of the team was also working in isolation in the early days following the cyclone due to road and bridge closures.
“Our people were right at the frontline when dealing with the losses our clients had experienced and we knew that could have an impact on their wellbeing. “We looked after each other and kept a close watch on our staff and initiated a mental wellbeing day, which was a break away from having to cope with the many distressing stories our clients were experiencing.” Jeff has had business succession in play ever since the loss of his business partner back in 2007.
He has also focussed on business growth and creating a brand with a strong reputation that ultimately doesn’t rely on any individual. All the team, not just brokers, either have their New Zealand Certificate in Financial Services (Level5) or are training towards completion of this certificate, which empowers staff including the admin team to understand regulations and compliance, so that they can play a role when a client calls.
It has also created career pathways within the business.
“I learned a long time ago that we needed to grow our team from within and provide opportunities for everyone to build their career. “Today we have a brand that has lasted the test of time and we have a great team. That’s what’s most powerful. Jeff says the team at Hurford Parker has a wealth of experience and is well equipped to provide first-class service and customised products.
Hurford Parker is a founding member of a powerful group of independent New Zealand brokers called NZbrokers Management Ltd, and collectively the group employs more than 750 staff who between them place insurance business with local and international insurers for 140,000 clients with premiums in excess of $850 million. Forty-eight businesses are members spread across more than 100 locations in NZ. NZbrokers was formed to deliver additional client benefits for exclusive use by member brokers, including the development of exclusive insurance products. Hurford Parker is set for many more business milestones to come. www.hurfordparker.co.nz
Insights from Jeff
Jeff Parker and Jim Hurford founded Hurford Parker on June 1 1994. Jeff says the pair had a desire to offer a viable alternative to corporate-owned offshore companies based on the belief that local businesses wanted to deal with local brokers who they could build long term relationships and understand business risk be that both insurable and non-insurable.
Jeff provides some insights into some of the highlights, what’s changed in the industry game and why the firm has been successful.
We have thrived by remaining independent and locally owned in what is considered a very competitive industry. What we have found is that local businesses and people prefer to deal with locally owned and operated brokers. We have also created a culture where our people have fun and are passionate about providing a great service to our customers.
What have been some of the key changes within the insurance sector? When I first started most things were paper records and in 2007 we became one of the first insurance broker firms to introduce a documentation system which essentially made us paperless which improved efficiencies for both clients, ourselves and insurers. Like a lot of financial industries there is a strong global influence in the New Zealand market. For example a fire in Australia or storm in the USA have impacts in the NZ market. It is so important to provide a face to every transaction, particularly at claim time
New regulation has been introduced in the last few years to ensure further clients protection while we now offer products that cover cybersecurity and consider the risk around climate change and global warming.
What do you regard as Hurford Parker’s unique point of difference? Fronting up at claim time. This is where and always will be where ‘the rubber hits the road’. Clients pay for a promise that there policy will respond and the claim is where it happens. I’m really proud that we always step up for our clients.
The last word … You need passion and commitment to run any business. I have really enjoyed the last 30 years and we’ve had a lot of fun along the way. I will continue to be actively involved both with clients and providing strategic direction. However I have full confidence in Will and the team to take the business to a new level.
