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Channel Insurance Brokers account director Jim Purkiss tells Emily Moore why, after deciding that he was too young to semi-retire, he took up a new role in the industry he loves
WHEN the former private client director at Hepburn’s Insurance handed in his notice last summer, he did not know what the future would hold.
But after a short career break and an extended holiday in south-east Asia, Jim Purkiss realised that he was “too young to semi-retire” and became hungry for the next opportunity which, perhaps unsurprisingly, saw him return to his field of expertise, taking up a position as an account director at Channel Insurance Brokers earlier this month.
“I’ve been working in the insurance industry for 38 years, and when I left Hepburn’s last year, I intended either to take semi-retirement or have a career change,” he reflected.
“But then the opportunity to join CIB Jersey and to help them reinforce their name in the marketplace arose, and I realised that this was a challenge that was too exciting to refuse.”
While Jim may have nearly four decades of experience in insurance to his name, his entry into the sector took a somewhat unconventional route and was, albeit indirectly, brought about by the original series of Bergerac.
The son of a farmer, Jim grew up in Hampshire and graduated from Sparsholt Agricultural College with a diploma in dairy management.
“I had fully intended to follow in the family footsteps but then I watched Bergerac and decided to come to Jersey for a summer season before settling down,” he smiled. “During that summer, I taught waterskiing during the day at St Brelade’s Bay and ran a puppet show in the evenings. I was also a cocktail barman, something which appealed to my social side.”
Having fallen in love with the Island during the summer, instead of returning to the UK in the autumn to pursue a career in farming, Jim joined Hepburn’s Insurance as a trainee insurance broker.
“I was there for three years, and learnt my trade there, dealing with personal and business clients and the marine sector, which is my passion,” he said.
I had fully intended to follow in the family footsteps but then I watched Bergerac and decided to come to Jersey for a summer season before settling down
Jim Purkiss
When a new company – Birch Reed – opened in the Island in 1992, Jim joined that firm, becoming a director and shareholder of the business after two years.
“It was a small company, which specialised in working with private clients and commercial enterprises ranging from financial services companies to retail and hospitality businesses,” he said.
While enjoying this work, Jim’s “passion for boats” also saw him “build up a large book of pleasure craft and marine traders” in the Island.
This mix of private client, marine and commercial work has continued ever since, with Jim continuing to “look after his clients” long after Birch Reed (which, by then, had rebranded to Reed Insurance Associates) was acquired by Islands in 2011.
And it is that longevity of service of which Jim is particularly proud, attributing his client retention to his unwavering focus on “trust and relationships”.
“Building those relationships and developing that trust with your clients, insurers and strategic business partners is essential,” he said. “I love looking after clients and I love the social nature of the job. Over the years, I’ve become quite well known in the Island and can often be seen at sporting and business events, forming new relationships and strengthening existing ones.”
Acknowledging that his approach to his work meant that his role was far from a “nine to five job”, Jim added: “I’ve made it my life and I’ve always been the face of insurance. People know what I do professionally, and they know that I’m always available to talk to them when they need me.”
With his new role at CIB focusing on the private client and business sectors, Jim said that communication and developing customer relationships were more important than ever.
“The key thing is knowing your clients, their families, their lifestyles and what that means for their insurance requirements,” he said. “It’s important to regularly meet up face to face with the client to carry out a full review, assessing their risk exposure and then offer them appropriate guidance and coverage.
“For example, many high-net-worth clients will have UK homes and overseas properties and perhaps a boat in the Mediterranean. They may travel extensively, so understanding that lifestyle and the risks to which it exposes them is vital. Many high-net-worth individuals also have business requirements, and it is important that, whether they need to talk to you about a professional or personal matter, they can always contact you.”
Admitting that he “likes to know people”, Jim said that it was his “customer-focused ethos” which had attracted him to CIB, a pan-island business backed by PIB Group.
“CIB is a boutique firm, with a small team of people who are passionate about looking after their clients,” he said. “I am really enjoying working with a team who share my values, and it is very exciting to be out building new relationships and different avenues, as I build a new portfolio of private and business clients.
“One of my key focus areas is on high-net-worth clients, which is an active segment of the market, although one which relies heavily on introductions, recommendations and face-to-face contact.”
Acknowledging that Jersey’s insurance industry has faced some challenges recently, as “risk appetite among insurers has narrowed”, he said that CIB’s relationship with PIB gave the team access to “a wide range of insurance solutions”.
“It is important not just to have good relationships with your clients but also with the insurers and strategic partners,” he said. “We work with companies who are reputable, easy to deal with, understand the differences between the UK and Jersey markets, and, most importantly, are quick to respond in the event of a claim.
“We also provide tailored cover solutions for most business sectors and professional institutions, including healthcare, professional indemnity, directors & officers and cyber insurance, which is critical cover for businesses and many high-net-worth individuals, taking into consideration the increased frequency and severity of local cyber incidents.
“While governance and compliance requirements are ever increasing, the principles of insurance haven’t changed over the past 38 years.”
And those principles, he says, revolve around protecting clients.
Our mission is to protect our clients’ most valued possessions together with their personal and business assets, with a range of tailored insurance solutions designed to give them complete peace of mind should the worst happen,” he said, adding: “I am really excited about the future with CIB and am looking forward to developing the private-client market, in particular, as this is a key growth area for the business where I can really draw on my experience and knowledge of the past 38 years.”
