Venkat Raman =
New Zealand’s largest Insurance Broker of Indian origin has just acquired another performing asset, thereby enhancing the potential to not only provide higher standards of service but also perhaps compete more effectively in an increasingly crowded marketplace.
Darrin Franks, an insurance veteran with extensive experience in the insurance industry has joined Global Financial Solutions Limited (GFSL) as Management Strategy Consultant “to share and expand the vision of the company to go farther than its current reach.”
Mortgage and Insurance brokerage complement each other and over the years, the increasing population of people of Indian origin has encouraged many bankers and insurance professionals to establish their own boutique companies to offer products and services in what appears to be a lucrative market.
However, in a market where understanding of insurance and more importantly, servicing clients in distress and arranging satisfactory settlement of claims is poor, companies like GFSL stand at an advantage. The presence of professionals like Mr Franks instil confidence among the often confused customers.
“GFSL has highly educated and qualified professionals and has great reputation with the care to understand what and how they deliver value to the New Zealand financial services landscape. Director Ajay Kumar is one of the best integrated mortgage and insurance originators and providers of financial services,” he said.
Mr Franks is hopeful that while the Company has excellent systems and procedures in place, it also has immense potential to grow in pursuit of excellence.
Mr Kumar believes that as the Management Strategy Consultant, Mr Franks would improve customer experience of home loans as well as insurance.
With more than 20 years of experience in the insurance industry that included assignments at major insurance companies such as AIA, Sponsor of the ‘Best Finance Manager’ (Mortgage and Insurance) of the Indian Newslink Indian Business Awards 2015, Asteron and Sovereign, Mr Franks has a sound knowledge of the market and its evolving trends to realign strategies and business plans for delivery of customised solutions.
While he works as a Managing Consultant at Conetworkz Management Solutions (a company owned by him), he was attracted by three outstanding factors at GFSL, namely ‘its vision of service excellence, the desire to constantly improve and the courage to invest its own capital to achieve these objectives.’
“There is a tenacity and work ethic that comes from people who choose to make another country their home and be successful. Since 1999 this culture has driven the way GFSL has continued to evolve,” Mr Franks said.
According to Mr Kumar, people keen on insurance must understand in the first instance ‘Why, Who and What’ and then satisfy themselves of the best policy suited to their budget and family.
“While many people say that they need insurance, they may not be fully aware of the nuances involved. They should understand why they need an insurance policy, who are they trying to protect and what are the products that are available in the market. At GFSL, we provide an obligation-free initial consultation,” he said.
Mr Franks intends to challenge GFSL as it stands today, support the vision of the directors and build on the impressive business built by the Company. With the value of premium written reaching $3 billion (over the past 16 years), it carries with it the advantage of offering the products and services of almost all insurers to an ever-expanding market.
Global Financial Solutions Managing Director Ajay Kumar with Darrin Franks and Marketing Manager Saurabh Gupta at the office of Global Financial Solutions Limited in Auckland
(Picture by Narendra Bedekar)