Alphabet reviews broker relationships

Alphabet has begun the process of reviewing all of its 40-plus broker relationships, nearly three years after the launch of its broker channel, Alphabet Partner.

Graham Conway, head of Alphabet Partner, said: “The world has changed significantly since 2014. Back then Alphabet Partner was a ‘start-up’, a brand new offering and a unique approach in the market. Since then we’ve grown with our partners and their SME customers to establish a portfolio of over 20,000 vehicles in the UK, which would place us in the top 15 of the FN50.”

Conway explained that processes, products and IT systems had been developed hand-in-hand with them and their SME customers.

“We hugely value our partnerships and I’m extremely proud of the genuine levels of engagement that we have nurtured and developed together over the past three years,” he said.

“Naturally though, any successful organisation or network must review its commercial relationships every few years or so as part of the usual business cycle.”

Alphabet’s proposition then – as now – is focused on developing an exclusive network of well-established, customer-focused broker partners with shared values, each providing a fair share of the business they write, it says.

Every Partner is specifically chosen for the different types of business they contribute in order for Alphabet to achieve a well-balanced, sustainable SME portfolio. “Therefore we have begun the process to review our agreements to ensure they are still fit for purpose in 2018 and beyond,” said Conway.

Gavin Davies, general manager SME sales and distribution at Alphabet, added: “Alphabet Partner has been a cornerstone of Alphabet’s success over the past few years and we’re keen to ensure that we continue to improve and innovate.

“Partner is just one of a number of different channels that Alphabet have available to meet the needs of customers in the dynamic, fast-paced SME market.

“With Alphabet Partner we will continue to focus on achieving balanced growth through a true partnership approach with brokers, delivering first-class levels of service and supported by our market-leading IT platform, icon.”