#peopletowatch2022 | Razvan Rusu, focus on consolidation

Mihai-Alexandru Cristea 15/03/2022 | 14:52

With innovation at the core of its business strategy, Leader Team Broker has developed a visionary approach that enables it to provide insurance to companies in 20 EU member states. Founder Razvan Rusu says that his focus in 2022 will be on consolidating the company’s product portfolio and team.

By Anda Sebesi

 

Looking back at 2021, Razvan Rusu says that although it was difficult from many points of view, it was also a year when the company took advantage of new market opportunities and, to some extent, implemented lessons learnt during the previous crisis. “The 2008-2009 crisis taught us that the biggest mistake you can make in difficult times is to panic. Instead, you must take a step back, look at the market and the economic climate as a whole, then reinvent yourself and come up with new solutions that are adapted to economic realities,” he argues.

The world is changing at a much faster pace than it did in the 80s and 90s, and the jobs which are emerging at an unprecedented speed, especially in technology, also require insurance. “Traditional products are not adapted to these new jobs, and that’s what we are doing: redesigning and creating insurance products to keep up with the changes and find our place in the new economic paradigm.” For example, the company launched the IT Professional Liability and Cyber Risk Insurance in 2019, which Rusu says is now one of the company’s best-selling products and it is expected to continue growing in the coming years. “The insurance market is increasingly dynamic, and we work to identify new needs that arise, create the right products for these needs, present them to our partners in Romania or in London, and thus often come up with first-time offers for companies in Romania and Europe,” he explains.

In 2021, Leader Team Broker created a product dedicated to Amazon sellers, following the global retailer’s massive expansion. In addition, its product portfolio was adapted and upgraded in order to adequately serve companies in 20 EU member states. It was also the best financial year in the company’s history, despite the difficult economic conditions. “We brokered premiums worth more than EUR 7.2 million, which is an increase of about 20 percent compared to the previous year. Plus, we managed to retain almost all of our people, which is a real achievement in the current context,” Rusu notes.

The crisis on the labour market, which has been affecting the Romanian economy for years now, has also reached the insurance sector. It’s getting harder and harder for players in the field, including for Leader Team Broker, to find insurance specialists. “We are not lacking ideas; we are running short of people interested in learning and implementing our innovations.”

This year, Leader Team Broker will continue to innovate and develop new products that respond to market needs, as well as strengthen its territorial expansion in Europe, which it began last year. “The watchword in 2022 will be consolidation, at both the product portfolio and the team level. For us, the challenge will be to find new markets and new areas where we can come up with new products to offset any losses we may incur from bankruptcies or budget cuts in areas we’re currently covering. Innovation will therefore be extremely important in the coming period, as it will help us find products that respond to new trends and changes on the market and help us further develop and strengthen our business.”

 

Razvan Rusu’s 3 business lessons of 2021

  • Always seek innovation and adapt to change quickly, with bold solutions.
  • No matter how many disappointments and failures you experience in your business; always extract the lessons and try to do better next time.
  • Always project your actions over a medium and long term, define end goals, and think about what your company will look like in, say, 5 years’ time.
BR Magazine | Latest Issue

Download PDF or read online: June 2022 Issue | Business Review Magazine

The June 2022 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Hagag Development Europe: The Philosophy of Perfection in
Mihai-Alexandru Cristea | 20/06/2022 | 13:44

You will receive a download link for the latest issue of Business Review Magazine in PDF format, based on the completion of the form below.

I agree with the Privacy policy of business-review.eu
I agree with the storage and handling of my data by business-review.eu

Close ×

We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

Accept & continue