Rural Insurance seeks to double turnover to £100m with strategic growth plan

Rural Insurance is aiming to double its turnover to £100m over the medium term.

The Harrogate-based business’s growth strategy is to become the second largest agricultural insurer in the UK, and has appointed Propaganda to transform the brand in an evolving marketplace.

Rural handles a range of agricultural and rural specialist insurance policies for clients throughout the UK. The business is the fastest growing agricultural insurer in the UK, with a current turnover of just under £50m.

Rural is looking to roll out a growth strategy which will see the business significantly increase its market share.

Propaganda will employ its unique consultancy process, Brand Discovery, to help Rural better understand the market and opportunities. The agency employs a planning-led approach, which allows a strategy to be developed based on stakeholder insight, brand truths and industry facts.

Gary O’Brien, digital and marketing strategy director of Rural Insurance, said: “We were impressed with Propaganda’s difference. The fact that they build unique strategies tailored to individual businesses was key to this partnership.

“The insurance sector at large has gone through immense change over recent years, largely driven by advances in technology. We know this will be key to the success of our business moving forward, and combined with the technological advancement in agriculture, this presents us with an opportunity. This is a very specialist sector with many unique quirks and challenges, therefore it’s vital that we put ourselves in a position to achieve sustainable and significant growth.”

Craig Harrold, director at Propaganda added: “This is a really exciting brief for a business with big ambitions. They’ve seen significant successes in recent years and have a clear intent to further professionalise their services and customer proposition. Our processes will allow Rural to make these changes in the right ways, through informed decision making. Key to this will be allowing the business to articulate its difference and raise brand awareness amongst key target groups.”

Rural Insurance is looking to achieve its ambitious plans of becoming a £100m turnover business by 2020.

Based in Harrogate, Rural Insurance has been established for more than two decades and employs more than 100 people locally.