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Noyce seeks bigger offices

11 December 2003

Ambitious Southampton-based broker start-up Noyce Insurance Solutions is currently eyeing larger premises, after achieving its three-year business target in under 12 months.

The commercial book of business purchased to form NIS was part of Foreman Bassett, of which Tom Noyce was a former director. In January, when NIS began trading, the book was worth £1.6m gross written premium, but is expected to top £2.35m by the end of the year.

Mr Noyce said: "It has been a very good year for growth, which has been by word of mouth. We have had to take on extra staff and I am currently revising the business plan, having achieved quickly what I thought were realistic longer-term targets. We are moving to premises twice the size of our current space in February and plan to take on an account executive".

Mr Noyce partly attributes the success of NIS to the return of some of his former clients at Forman Bassett, but also because of tight cost control. "We have maintained control of our costs using the Acturis system, which has paid dividends. But the attitude and enthusiasm of the staff that have joined us has also been central to rapid development of business".

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