Moorhouse founder starts new life-cover venture
FOUNDER of insurance broker Moorhouse Group has added another string to his bow with the launch of a life insurance business.
Lyndon Wood has established Moorlife to provide its general insurance clients and consumers with easy access to life insurance products.
The new subsidiary, formed in direct response to demand from the existing 50,000-strong client base, provides standard covers including death, terminal illness and critical illness from a range of providers.
Based at Moorhouse’s headquarters in Caerphilly, the new service is aimed at existing and new customers. Moorlife plans to recruit up to 100 people over the next 18 months to expand its offering to non-Moorhouse clients.
Moorhouse chairman and chief executive Lyndon Wood said: “This was a no brainer for us as demand from our general insurance clients for life products has been growing steadily.
“We wanted to capitalise on this opportunity and our existing infrastructure gives us the capability to launch into vertical markets very easily and quickly.”
This is the latest venture from the insurance entrepreneur who founded Moorhouse in 1990, aged 19 from his Caerphilly bedroom. With little experience, no support and very limited resources, he generated £30,000 in his first year and now generates more than £8m.
Twenty-one years on he has turned the business into a multi-million-pound group. Moorlife is owned by Moorhouse Holdings, which incorporates Moorhouse Group, a UK top 100 company and Wales’ largest independent insurance broker; constructaquote.com, a UK top three business insurance comparison site; and Xbroker, which provides commercial vehicle insurance products to 2000 insurance brokers.
The serial entrepreneur also has aspirations beyond insurance, with a property development company, investment in Cardiff recruitment start-up Yolk Recruitment, a mentoring role with many SMEs, and his first book on the way.
Mr Wood said: “When I set up as a 19-year-old I had no mentor. I didn’t know there was a recession on, or even what that meant; and I had a mortgage with a 15% interest rate – which is hard to believe today.
“So everything over the last 20 years has been self-taught and I would like to think that makes me qualified to talk to others about how to grow their business strategically and operationally with a strong sales focus.”
Mr Wood, via Linkedin group 100 Business Owners, is offering to invest £50,000 into a suitable business opportunity.
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Moorlife is owned by Moorhouse Holdings, which incorporates Moorhouse Group, a UK top 100 company and Wales' largest independent insurance broker; constructaquote.com, a UK top three business insurance comparison site; and Xbroker, which provides
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