{"id":2646,"date":"2022-08-22T14:12:19","date_gmt":"2022-08-22T14:12:19","guid":{"rendered":"https:\/\/pa-ibroker.ln5.ngltech.co.uk\/?page_id=2646"},"modified":"2022-09-07T19:55:52","modified_gmt":"2022-09-07T19:55:52","slug":"lexicon-property-ltd-case-study","status":"publish","type":"page","link":"https:\/\/pa-ibroker.ln5.ngltech.co.uk\/index.php\/lexicon-property-ltd-case-study\/","title":{"rendered":"Lexicon Property Case Study"},"content":{"rendered":"<p>[vc_section el_name=&#8221;Section Padding Bottom 0&#8243;][vc_row css=&#8221;.vc_custom_1658825520759{margin-bottom: 50px !important;}&#8221;][vc_column width=&#8221;1\/2&#8243;]<div class=\"wpb_content_element  vc_custom_1660756245531\"><style type=\"text\/css\">#ut_header_6a01d9373e96c h2.section-title { font-size:60px !important;letter-spacing:-0.03em; }<\/style><header id=\"ut_header_6a01d9373e96c\" class=\"section-header  ut-no-title-linebreak-mobile ut-no-lead-linebreak-mobile pt-style-7 header-left header-tablet-left header-mobile-center\"><h2 data-title=\"Case Study\"  data-responsive-font=\"section_title\" data-responsive-font-settings=\"{&quot;base-font-size&quot;:&quot;global&quot;,&quot;font-size&quot;:{&quot;desktop_large&quot;:&quot;60&quot;},&quot;base-line-height&quot;:&quot;global&quot;,&quot;base-letter-spacing&quot;:&quot;global&quot;,&quot;letter-spacing&quot;:{&quot;desktop_large&quot;:&quot;-0.03&quot;}}\" class=\"section-title  \"><span>Case Study<\/span><\/h2><\/header><\/div>[\/vc_column][vc_column width=&#8221;1\/2&#8243;]<div class=\"wpb_content_element  vc_custom_1662579884128\"><style type=\"text\/css\">#ut_header_6a01d93742134 h2.section-title { font-size:60px !important;letter-spacing:-0.03em; }<\/style><header id=\"ut_header_6a01d93742134\" class=\"section-header  ut-no-title-linebreak-mobile ut-no-lead-linebreak-mobile pt-style-7 header-left header-tablet-left header-mobile-center\"><div data-delay=\"0\" class=\"lead \"><p>In 2016, Lexicon Property Ltd., an aspiring and forward-thinking Insurance AR based in Essex, decided that they needed to radically change the way that they conducted business in order to promote growth.<\/p>\n<p>With around 10 staff, Lexicon at that time enjoyed a relatively modest GWP of around \u00a32.5m pa.<\/p>\n<\/div><\/header><\/div>[\/vc_column][\/vc_row][\/vc_section][vc_section css=&#8221;.vc_custom_1662028782753{background-color: #141618 !important;}&#8221;][vc_row][vc_column]<div class=\"wpb_content_element \"><style type=\"text\/css\">#ut_header_6a01d9374291d h2.section-title, #ut_header_6a01d9374291d h2.section-title span { color:#ffffff; }#ut_header_6a01d9374291d h2.section-title { font-size:60px !important;letter-spacing:-0.03em; }#ut_header_6a01d9374291d .lead { color:#ffffff; }#ut_header_6a01d9374291d .lead p { color:#ffffff; }<\/style><header id=\"ut_header_6a01d9374291d\" class=\"section-header  ut-no-title-linebreak-mobile ut-no-lead-linebreak-mobile pt-style-7 header-left header-tablet-left header-mobile-center\"><h2 data-title=\"Chairman Gary Chapman\"  data-responsive-font=\"section_title\" data-responsive-font-settings=\"{&quot;base-font-size&quot;:&quot;global&quot;,&quot;font-size&quot;:{&quot;desktop_large&quot;:&quot;60&quot;},&quot;base-line-height&quot;:&quot;global&quot;,&quot;base-letter-spacing&quot;:&quot;global&quot;,&quot;letter-spacing&quot;:{&quot;desktop_large&quot;:&quot;-0.03&quot;}}\" class=\"section-title  \"><span>Chairman Gary Chapman<\/span><\/h2><div data-delay=\"0\" class=\"lead \"><p>then Managing Director &#8211; aspired to double their GWP but was struggling to maintain even current levels with resources stretched to the maximum maintaining GWP of around \u00a3175k pm. To grow the business further, Gary needed more time, resource or both.<\/p>\n<p>\n<\/div><\/header><\/div>[\/vc_column][\/vc_row][\/vc_section][vc_section][vc_row][vc_column width=&#8221;1\/2&#8243;]<div class=\"wpb_content_element \"><style type=\"text\/css\">#ut_header_6a01d937431b9 h2.section-title { font-size:60px !important;letter-spacing:-0.03em; }<\/style><header id=\"ut_header_6a01d937431b9\" class=\"section-header  ut-no-title-linebreak-mobile ut-no-lead-linebreak-mobile pt-style-2 header-left header-tablet-left header-mobile-center\"><div data-delay=\"0\" class=\"lead \"><p>Inspired by ibroker\u2019s outstanding track record and with the comfort of zero up-front costs*, Gary commissioned the installation of ibroker into Lexicon in February 2017.<\/p>\n<p>Just 18 months later Lexicon achieved \u00a310m GWP for the year 2018 with the trend continuing throughout the next 3 years with 2021 GWP breaching the \u00a320m bracket with no significant increase to resources\u2013 so how did they do it?<\/p>\n<\/div><\/header><\/div>[\/vc_column][vc_column width=&#8221;1\/2&#8243; css=&#8221;.vc_custom_1658827352823{padding-left: 80px !important;}&#8221;]<div class=\"wpb_content_element \"><style type=\"text\/css\">#ut_header_6a01d93743a2b h2.section-title { font-size:60px !important;letter-spacing:-0.03em; }<\/style><header id=\"ut_header_6a01d93743a2b\" class=\"section-header  ut-no-title-linebreak-mobile ut-no-lead-linebreak-mobile pt-style-2 header-left header-tablet-left header-mobile-center\"><div data-delay=\"0\" class=\"lead \"><p>In March 2017 the \u2018Quote &amp; Bind limit\u2019 in the rating engine was set to \u00a31000 enabling their brokers to place on cover anything with premium under \u00a31000 which didn\u2019t \u2018Refer\u2019, without the intervention of underwriters, through the broker portal on the web interface, thus leaving the underwriters free to concentrate their efforts on the larger, more profitable cases. The result was that March was an all-time record month for Lexicon, significantly better than their previous record month.<\/p>\n<\/div><\/header><\/div>[\/vc_column][\/vc_row][\/vc_section][vc_section background_position=&#8221;center center&#8221; background_attachment=&#8221;fixed&#8221; css=&#8221;.vc_custom_1661179829161{background-image: url(https:\/\/pa-ibroker.ln5.ngltech.co.uk\/wp-content\/uploads\/2022\/07\/I-broker-casestudy.jpg?id=2432) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}&#8221;][vc_row][vc_column]<div class=\"wpb_content_element \"><style type=\"text\/css\">#ut_header_6a01d937441cb h2.section-title, #ut_header_6a01d937441cb h2.section-title span { color:#ffffff; }#ut_header_6a01d937441cb h2.section-title { font-size:60px !important;letter-spacing:-0.03em; }#ut_header_6a01d937441cb .lead { color:#ffffff; }#ut_header_6a01d937441cb .lead p { color:#ffffff; }<\/style><header id=\"ut_header_6a01d937441cb\" class=\"section-header  ut-no-title-linebreak-mobile ut-no-lead-linebreak-mobile pt-style-7 header-center header-tablet-center header-mobile-center\"><div data-delay=\"0\" class=\"lead \"><p>A fluke perhaps? No! Not if their performance in the following months was anything to go by!<\/p>\n<p>By the end of June 2017, just five months later &#8211; Lexicon had done more business than in any previous year, prompting the following testimonial from MD Gary Chapman.<\/p>\n<\/div><\/header><\/div>[\/vc_column][\/vc_row][\/vc_section][vc_section css=&#8221;.vc_custom_1662028745664{margin-top: -30px !important;}&#8221;][vc_row full_width=&#8221;&#8221;][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<h4><em><span style=\"color: #ffbf00!important;\">&#8220;ibroker has proved an invaluable tool for our company. It has given us the capacity to significantly increase our GWP whilst dramatically reducing our administration time, freeing up resources to enable us to improve our client service standards, our marketing and grow our business further. <\/span><\/em><\/h4>\n<h4><em><span style=\"color: #ffbf00!important;\">From the date of the launch, we saw our new business growth more than double over the first 3 months. After 5 months we had written more business than we had in the whole of the previous year&#8221;. <\/span><\/em><\/h4>\n<h4><em><span style=\"color: #ffbf00!important;\">Gary Chapman, MD<\/span><\/em><\/h4>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243; css=&#8221;.vc_custom_1658827352823{padding-left: 80px !important;}&#8221;]<div class=\"wpb_content_element \"><style type=\"text\/css\">#ut_header_6a01d93744a81 h2.section-title { font-size:60px !important;letter-spacing:-0.03em; }<\/style><header id=\"ut_header_6a01d93744a81\" class=\"section-header  ut-no-title-linebreak-mobile ut-no-lead-linebreak-mobile pt-style-2 header-left header-tablet-left header-mobile-center\"><div data-delay=\"0\" class=\"lead \"><p>The trend continued with Lexicon consistently hitting new record months up to December 2017 when they stepped over the \u00a3500k barrier. Placing over \u00a3550k of GWP for the month onto the ibroker system, put their GWP for the eleven months from February 2017 through to December 2017 at a relatively whopping \u00a33.6m!<\/p>\n<\/div><\/header><\/div>[\/vc_column][\/vc_row][\/vc_section][vc_section css=&#8221;.vc_custom_1662028737061{background-color: #141618 !important;}&#8221;][vc_row][vc_column]<div class=\"wpb_content_element \"><style type=\"text\/css\">#ut_header_6a01d93745294 h2.section-title, #ut_header_6a01d93745294 h2.section-title span { color:#ffffff; }#ut_header_6a01d93745294 h2.section-title { font-size:60px !important;letter-spacing:-0.03em; }#ut_header_6a01d93745294 .lead { color:#ffffff; }#ut_header_6a01d93745294 .lead p { color:#ffffff; }<\/style><header id=\"ut_header_6a01d93745294\" class=\"section-header  ut-no-title-linebreak-mobile ut-no-lead-linebreak-mobile pt-style-7 header-left header-tablet-left header-mobile-center\"><h2 data-title=\"Their success in 2017 set the trend for growth in 2018\"  data-responsive-font=\"section_title\" data-responsive-font-settings=\"{&quot;base-font-size&quot;:&quot;global&quot;,&quot;font-size&quot;:{&quot;desktop_large&quot;:&quot;60&quot;},&quot;base-line-height&quot;:&quot;global&quot;,&quot;base-letter-spacing&quot;:&quot;global&quot;,&quot;letter-spacing&quot;:{&quot;desktop_large&quot;:&quot;-0.03&quot;}}\" class=\"section-title  \"><span>Their success in 2017 set the trend for growth in 2018<\/span><\/h2><div data-delay=\"0\" class=\"lead \"><p>In 2018 Lexicon achieved a staggering \u00a39.5m GWP, eclipsing their 2017 record of \u00a33.6m!<\/p>\n<p>This was by no means the end of the story, in fact it was just the beginning! In June of 2018 Lexicon made their first acquisition, purchasing MGA Oasis Property Insurance Services Ltd and adding Commercial Combined to their growing raft of residential and commercial property insurance products. Enjoying similar success with outstanding growth, the Oasis success story will be told separately at a later date.<\/p>\n<\/div><\/header><\/div>[\/vc_column][\/vc_row][\/vc_section][vc_row css=&#8221;.vc_custom_1661181184873{margin-top: 100px !important;}&#8221;][vc_column]<div class=\"wpb_content_element \"><style type=\"text\/css\">#ut_header_6a01d93746b1a h2.section-title, #ut_header_6a01d93746b1a h2.section-title span { color:#38729a; }#ut_header_6a01d93746b1a h2.section-title { font-size:30px !important;letter-spacing:-0.03em; }<\/style><header id=\"ut_header_6a01d93746b1a\" class=\"section-header  ut-no-title-linebreak-mobile ut-no-lead-linebreak-mobile pt-style-7 header-left header-tablet-left header-mobile-center\"><h2 data-title=\"In the meantime, Lexicon have continued to grow at a similar pace in the ensuing 3 years, breaching \u00a320m of GWP in 2021 and January 2022 seeing their first \u00a34.5m GWP in a single month.\"  data-responsive-font=\"section_title\" data-responsive-font-settings=\"{&quot;base-font-size&quot;:&quot;30&quot;,&quot;font-size-unit&quot;:&quot;px&quot;,&quot;font-size&quot;:{&quot;desktop_large&quot;:&quot;30&quot;},&quot;base-line-height&quot;:&quot;global&quot;,&quot;base-letter-spacing&quot;:&quot;global&quot;,&quot;letter-spacing&quot;:{&quot;desktop_large&quot;:&quot;-0.03&quot;}}\" class=\"section-title  \"><span>In the meantime, Lexicon have continued to grow at a similar pace in the ensuing 3 years, breaching \u00a320m of GWP in 2021 and January 2022 seeing their first \u00a34.5m GWP in a single month.<\/span><\/h2><\/header><\/div><div class=\"wpb_content_element \"><style type=\"text\/css\">#ut_header_6a01d93747302 h2.section-title { font-size:60px !important;line-height:20px !important;letter-spacing:-0.03em; }<\/style><header id=\"ut_header_6a01d93747302\" class=\"section-header  ut-no-title-linebreak-mobile ut-no-lead-linebreak-mobile pt-style-7 header-left header-tablet-left header-mobile-center\"><div data-delay=\"0\" class=\"lead \"><p>Lexicon achieved all of this with no significant increase in staff or resources pushing overheads down while significantly increasing profit margins!<\/p>\n<p>What we know for sure is that the reliability, efficiency and speed with which the ibroker platform handles the day-to-day business of a busy MGA has given Lexicon back the time they needed to push their business forward while providing the capacity to easily handle and maintain their growth.<\/p>\n<\/div><\/header><\/div><div class=\"wpb_content_element \"><style type=\"text\/css\">#ut_header_6a01d93747b02 h2.section-title { font-size:20px !important;letter-spacing:-0.03em; }<\/style><header id=\"ut_header_6a01d93747b02\" class=\"section-header  ut-no-title-linebreak-mobile ut-no-lead-linebreak-mobile pt-style-7 header-left header-tablet-left header-mobile-center\"><h2 data-title=\"So how much of Lexicon\u2019s success story can be attributable to the ibroker system? You decide!&#13;&#10;\"  data-responsive-font=\"section_title\" data-responsive-font-settings=\"{&quot;base-font-size&quot;:&quot;20&quot;,&quot;font-size-unit&quot;:&quot;px&quot;,&quot;font-size&quot;:{&quot;desktop_large&quot;:&quot;20&quot;},&quot;base-line-height&quot;:&quot;global&quot;,&quot;base-letter-spacing&quot;:&quot;global&quot;,&quot;letter-spacing&quot;:{&quot;desktop_large&quot;:&quot;-0.03&quot;}}\" class=\"section-title title-with-linebreak \"><span>So how much of Lexicon\u2019s success story can be attributable to the ibroker system? You decide!<br \/>\n<\/span><\/h2><\/header><\/div><div class=\"wpb_content_element \"><style type=\"text\/css\">#ut_header_6a01d937482c5 h2.section-title { font-size:60px !important;line-height:20px !important;letter-spacing:-0.03em; }<\/style><header id=\"ut_header_6a01d937482c5\" class=\"section-header  ut-no-title-linebreak-mobile ut-no-lead-linebreak-mobile pt-style-7 header-left header-tablet-left header-mobile-center\"><div data-delay=\"0\" class=\"lead \"><p>*ibroker does however require a security deposit which is refunded back to you in lieu of commissions over the first year of trading with us.<\/p>\n<\/div><\/header><\/div>[\/vc_column][\/vc_row][vc_section][vc_row][vc_column]<div class=\"wpb_content_element \"><style class=\"bklyn-inline-styles\" type=\"text\/css\">#ut_scb_6a01d937488d5.ut-project-sc { border-color: #dddddd; }#ut_scb_6a01d937488d5 .ut-share-link { color: #999999; }#ut_scb_6a01d937488d5 .ut-share-link:visited { color: #999999; }#ut_scb_6a01d937488d5 .ut-share-link:hover { color: #313131; }#ut_scb_6a01d937488d5 .ut-share-link:focus { color: #313131; }#ut_scb_6a01d937488d5 .ut-share-link:active { color: #313131; }<\/style><ul id=\"ut_scb_6a01d937488d5\" class=\"ut-project-sc clearfix  ut-project-sc-center ut-project-sc-tablet-center ut-project-sc-mobile-center\"><li><h6 class=\"widget-title\"><span>SHARE:<\/span><\/h6><\/li><li><a class=\"ut-share-link sc-facebook\" data-social=\"utsharefacebook\"><i class=\"fa fa-facebook\"><\/i><\/a><\/li><li><a class=\"ut-share-link sc-twitter\" data-social=\"utsharetwitter\"><i class=\"fa fa-twitter\"><\/i><\/a><\/li><li><a class=\"ut-share-link sc-linkedin\" data-social=\"utsharelinkedin\"><i class=\"fa fa-linkedin\"><\/i><\/a><\/li><li><a class=\"ut-share-link sc-pinterest\" data-social=\"utsharepinterest\"><i class=\"fa fa-pinterest\"><\/i><\/a><\/li><li><a class=\"ut-share-link sc-xing\" data-social=\"utsharexing\"><i class=\"fa fa-xing\"><\/i><\/a><\/li><\/ul><\/div>[\/vc_column][\/vc_row][\/vc_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[vc_section el_name=&#8221;Section Padding Bottom 0&#8243;][vc_row css=&#8221;.vc_custom_1658825520759{margin-bottom: 50px !important;}&#8221;][vc_column width=&#8221;1\/2&#8243;][\/vc_column][vc_column width=&#8221;1\/2&#8243;][\/vc_column][\/vc_row][\/vc_section][vc_section css=&#8221;.vc_custom_1662028782753{background-color: #141618 !important;}&#8221;][vc_row][vc_column][\/vc_column][\/vc_row][\/vc_section][vc_section][vc_row][vc_column width=&#8221;1\/2&#8243;][\/vc_column][vc_column width=&#8221;1\/2&#8243; css=&#8221;.vc_custom_1658827352823{padding-left: 80px !important;}&#8221;][\/vc_column][\/vc_row][\/vc_section][vc_section background_position=&#8221;center center&#8221; background_attachment=&#8221;fixed&#8221; css=&#8221;.vc_custom_1661179829161{background-image: url(https:\/\/pa-ibroker.ln5.ngltech.co.uk\/wp-content\/uploads\/2022\/07\/I-broker-casestudy.jpg?id=2432) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}&#8221;][vc_row][vc_column][\/vc_column][\/vc_row][\/vc_section][vc_section css=&#8221;.vc_custom_1662028745664{margin-top: -30px !important;}&#8221;][vc_row full_width=&#8221;&#8221;][vc_column width=&#8221;1\/2&#8243;][vc_column_text] &#8220;ibroker has proved an invaluable tool for our company. It has given us the capacity to significantly increase our GWP [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-2646","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/pa-ibroker.ln5.ngltech.co.uk\/index.php\/wp-json\/wp\/v2\/pages\/2646","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pa-ibroker.ln5.ngltech.co.uk\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/pa-ibroker.ln5.ngltech.co.uk\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/pa-ibroker.ln5.ngltech.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pa-ibroker.ln5.ngltech.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=2646"}],"version-history":[{"count":61,"href":"https:\/\/pa-ibroker.ln5.ngltech.co.uk\/index.php\/wp-json\/wp\/v2\/pages\/2646\/revisions"}],"predecessor-version":[{"id":2777,"href":"https:\/\/pa-ibroker.ln5.ngltech.co.uk\/index.php\/wp-json\/wp\/v2\/pages\/2646\/revisions\/2777"}],"wp:attachment":[{"href":"https:\/\/pa-ibroker.ln5.ngltech.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=2646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}