An award winning Tauranga based firm is celebrating 10 years of helping businesses around the country.

Insurance brokerage O'Connor Warren has become one of the fastest growing locally owned brokering houses in the country, since its establishment in January 2013.

Founding directors Eamon and Anna O'Connor have helped steer the business which has currently a 12-strong team.

To mark the 10-year anniversary, the firm recently held a celebration with clients, friends and team members at the Tauranga branch.

Eamon says there have been many highlights over the years and winning at the 2018 New Zealand Insurance Industry Awards was one of them.

The brokerage was named Small-Medium Broking Company of the Year after a number of occasions as a finalist.

Some of the O'Connor Warren team. Photo: Supplied.

That year the company also claimed the Young Insurance Professionals Employer of the Year.

Eamon says the success of his firm is thanks to its nationally spread loyal client base. Whilst they provide services to all industries, the transport and logistics sector is one of its strengths through specialist division O'Connor Warren Transport

'Our business has been largely built of the back of advising and supporting the transport industry.,” he says.

During his time advising the sector, there have been some trends and changes for operators to deal with.

Eamon points to the evolution of independent small and medium-sized businesses which have had to adapt in the face of larger competition.

A growing number of operators have shifted from offering generalservices to committing to single contracts with large principal companies operating under that company's banner.

'The independent SME business has had to adapt amid growth and acquisition by the larger players.

'However, there is still very much a place for the small to medium business. I believe those that are nimble and creative enough can be greatly successful in this new age,” Eamon says.

As for the business of insurance, the market is getting tougher, he says.

'Insurer margins are being squeezed as a result of increased repair costs and in the case of vehicles, insurers will often write them off rather than repair.

'The profile of vehicle accidents and frequency has increased. In the case of the transport industry, they are also struggling to recruit experienced and engaged drivers.

'Increased premiums and tougher policy terms are being realised. At O'Connor Warren we thrive in such a climate by toughening our negotiations with insurers and leading the market with creative insurance package structures involving risk management tools to supplement the offer.”

Eamon also reflects on the last couple of years through the pandemic which stretched his team to the max.

'While many businesses were flat and unproductive during this period, we were extremely busy with transport an essential service for example.

'We have probably never worked longer or harder than in the Covid period in working with our clients to navigate this difficult period.”

Current challenges such as rising costs are also starting to bite.

'We are starting to see pressure come on with finance and general interest rates increasing. We regularly communicate with our clients that we know will struggle to pass these additional costs on.

'We need to ensure they have as much advice and support as possible. We know 2023 will deliver further challenges with tightening margins, however we remain confident in New Zealand businesses resilience when navigating tricky economic cycles,” Eamon says.