Don McKenzie

Written on the 5 March 2010

Don McKenzie
STREAM GROUP
BUILDING INSURANCE CONSULTANCY

Age: 26
Business Est: 2007
Number of staff: 48
Growth: 2400 per cent
Turnover: $7.5 million

OFFERING a cheaper and faster online service for property damage claims, Don McKenzie has brewed the perfect storm with his business Stream Group, recording revenues of $7.5 million last financial year.

And he’s only 26.

Bushfires, storms and floods have kept insurance companies off their feet this last year, but McKenzie says his product makes claims easier and more efficient, acting as a ‘YouTube’ for damaged properties.

“We deal with property claims in a more trade qualified way. We put all the details online so that builders can put their tenders in and the bid can be chosen in 24 to 48 hours, rather than the few weeks it would take traditionally,” he says.

“For example, before you’d have five builders calling Mrs Jones, annoying Mrs Jones and it would take a lot longer – we’ve put the systems in place to reduce stress and make it easier for the end user.”

It is a business model that was six years in the making with McKenzie ‘lining the ducks in a row’, managing a series of different businesses in the construction and IT sectors, including InsureTech which now acts as the backbone for Stream Group.

His entrepreneurial experience goes back to age 18 when he managed his family’s home improvements business Absolutely Aluminium. It was then that builders gave him the name ‘Storm Boy’, because whenever there was a storm he would be on his bike to help clients, whether it was in Gladstone or the Gold Coast.

He then went on to start a futures, options and foreign exchange company McKenzie Trading Services and since 2001 he has accumulated nine businesses.

But the largest of these is certainly Stream Group, with expansion expected in New Zealand late 2010 and negotiations underway in the UK and the US.

“Essentially, damage claims are the same wherever you go, but whatever we do we’ll still only have one head office and it will be in Brisbane,” he says.

“To expand you can run at a loss on the day to day claims, but you need to have the resources in place so that when catastrophe hits you’ve got the resources to supply to clients.

“The way we’ll set it up is so that the Aussies can help the New Zealanders, they’ll do the same here, and international operations would work that way as we go further abroad.”


Latest News

2017 BRISBANE TOP COMPANIES REVEALED

WHILE Queensland is regarded as an economy in transition with the winding down of the mining boom, the 2017 top 50...

2017 BRISBANE TOP COMPANIES 1-10

FROM insurance and banking to travel, gambling, retail, property and pizza, these "heavyweights" have ha...

2017 BRISBANE TOP COMPANIES 11-20

RETAIL, property, an airline, cars, real estate, software services, energy, agriculture, veterinary services bathr...

2017 BRISBANE TOP COMPANIES 21-30

JEWELLERS Michael Hill International listed in 2016 with a half-billion dollar market capitalisation and a new CEO...

Related News

FURNITURE DISRUPTOR SET TO SHARE HIS ONE OF A KIND BUSINESS MODEL

IT'S no secret that Australians love homemaking. Their ceaseless quest to create the perfect place to call hom...

WEEDING OUT THE ASX'S BURGEONING CANNABIS TREND: 8 COMPANIES TO WATCH

A NICHE is budding on the ASX in the form of medical cannabis, an industry which has been on the country's rad...

FRESH CLASS ACTION TO REVEAL ANOTHER SIDE OF SLATER AND GORDON DOWNFALL

ACA LAWYERS has issued a formal letter of demand to Andrew Grech (pictured), managing director of Slater and Gordo...

STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

NICKI Minaj may have been off the mark when she declared 'starships were meant to fly'. However, she m...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter