'The power of conviction in succesful entrepreneurship'

The recent sale of SUREbusiness to Yellow Hive marks a new chapter in the entrepreneurship of Levent Türkmen. What began as a unique idea has grown into a leading platform supporting advisory firms in the insurance market with bespoke delegated authority solutions, technology, and personalized services. The service provider employs nearly 100 staff, manages a premium volume exceeding €83 million, and has more than 760 affiliated advisory firms. In doing so, SUREbusiness plays a unique role in the distribution of insurance products. Türkmen reflects on a journey full of challenges, risks, and perseverance.

Starting against the tide

Türkmen began his entrepreneurial journey shortly after leaving Unigarant in 2007. He realized that within the corporate world he had been climbing the ladder against the wrong wall. Instead of requesting a severance package, he asked Unigarant for a delegated authority, which he used to start his first company. Shortly after its founding, this company became a joint venture with the Van Kampen Group (VKG) and was eventually sold to ASR in 2015. Not long after, Türkmen founded SUREbusiness. The circumstances were far from comfortable. “I sold my house to invest, temporarily lived with my young family in a relative’s home, and started from a shed in the garden, with limited financial resources but with the belief that the concept would work.” According to Türkmen, success often comes from sticking to your vision. “If you truly believe in something, you have to go for it. There are always more reasons not to do something,” he says. What also struck him was that the SUREbusiness concept gained traction in the market very early on. “We had built something unique and, in terms of technology, were actually two years ahead of other service providers. I honestly thought competitors would quickly copy us, but that never really happened. I still find that remarkable.”

Grow with the rigth people

Besides the concept itself, the people within the company also proved to be a key success factor. Especially in the early years, when SUREbusiness was still small and financial resources were limited, it was a challenge to convince the right people to come on board. Finding strong talent therefore played a crucial role in the company’s development.Türkmen worked closely with his wife Annemarie in this process. “We have now been working together for eight years. Annemarie is responsible for recruitment and understands the company’s DNA like no other. That has been incredibly important for our growth.” Entrepreneurship often extended into their home life. “We are truly an entrepreneurial family. Even at the kitchen table, conversations frequently revolve around the business, and that’s sometimes the case when we go out for dinner together,” Türkmen explains.He emphasizes that it is important for your partner to understand what entrepreneurship involves. “Both of you need to appreciate how important the business is. Annemarie also comes from an entrepreneurial family, so she understands what entrepreneurship demands and that personal sacrifices are sometimes required.”

The year that changed everything

The organization continued to grow and became increasingly professional during those years. Yet it was precisely in this phase that the vulnerability of a business became clear when circumstances suddenly change. The survival of SUREbusiness was put under serious pressure: 2018 marked a turning point for Türkmen. “That was a difficult period. My co-shareholder wanted out, which meant the financing disappeared, just at the moment when we were gaining traction. We really had to fight to keep the company afloat,” he recalls. During that time, the trust and support of his network proved indispensable. “I found three investors in my personal and professional circles who believed in the company and its model, and that gave us the room to continue building.” Türkmen still looks back on that period with great respect. In a letter to his employees, he later described how remarkable he found their attitude. “The idea that SUREbusiness might not survive was very real at the time. But what has always stayed with me is how colleagues handled it. There was uncertainty, but also trust. People stayed because they believed in SUREbusiness, and together we kept going.” According to Türkmen, this period laid the foundation for the organization as it stands today. “That period shaped us. When I look around now, I see a close-knit team. A quarter of our colleagues have been with us for five years or more, and some have been here since the very beginning. I am truly proud of that.”

At every milestone on the bar

At SUREbusiness, we always celebrate our successes.” After every million in premiums collected, Levent steps onto the office bar. While a bottle of champagne is opened, he gives a short speech highlighting exceptional efforts or personally thanking someone. “Our new office was also an important milestone which we celebrated properly. For every major or minor step in growth, a bottle is always opened, because taking the time to acknowledge successes is so important. The company is currently experiencing a period of rapid acceleration. Türkmen says, “We are ahead of our own projections, both in terms of premiums and the number of agents.” A key factor behind this recent growth is, among other things, SUREbusiness’s VvE proposition, which is gaining increasing traction in the market. “Remarkably, this growth is only partially the result of the acquisition by Yellow Hive; the majority is thanks to our own efforts over the past few years.”

The transition to a new chapter

After years of growth, there came a moment when Türkmen began seriously considering the next phase for SUREbusiness. “We saw consolidation in the sector approaching. At the same time, we didn’t have our own distribution channel, but we did have the technology to handle substantially higher premium volumes. This made us reflect on the future and how we wanted to grow the company in the long term.” Together with BHB Dullemond, the market was explored and the available options were assessed. “I also wanted to create space to focus on other things. Age naturally plays a role: you start thinking about what you want to do with your remaining vital years.” Had he been ten years younger, he might have chosen a different path. “Then I probably would have sought a private equity partner and pursued acquisitions myself.” Ultimately, Türkmen decided that finding the right buyer was the best step for both the company and himself. “Many people asked if it was stressful, but I actually experienced it as a very enjoyable journey.” According to him, BHB Dullemond also played a key role in the process. “The calm and steadiness they brought to the process were extremely helpful. Throughout the entire journey, I always felt that I was making the right choice.” “With Yellow Hive, we found a partner that is a great fit for SUREbusiness. It gives us confidence that the company can continue to build for the future from this foundation. In addition to retaining overall responsibility for SUREbusiness, I will join the Yellow Hive Group board and be responsible for all integrations and synergy opportunities.”

The power of personal contact

Finally, Türkmen has a clear message for independent advisory firms that are thinking about their future. According to him, their strength does not necessarily lie in scale. “The key to success lies in customer contact. That personal connection with the policyholder is incredibly valuable.” According to him, smaller firms can still maintain a strong position. “You don’t necessarily have to become part of a large organization. If you stay close to your clients, you can navigate and survive many of the changes in the market.” According to him, the greatest challenge lies there even for larger firms. “The winners are the ones who continue to serve their clients best. Simply answering the phone. Processing license plates. Handling claims properly. Size alone is not enough.” For Türkmen himself, entrepreneurship remains primarily about building and looking ahead. “Entrepreneurship has always been a wonderful journey for me,” he says. “Ultimately, it’s about creating something that makes people’s lives better.”