Start your broking
business
For many insurance professionals who have a background in broking and advising clients, the idea of launching their own insurance broking business can be exciting and daunting at the same time. Control over how you deliver your service to clients, significantly higher earning potential, and the prospect of building a valuable and attractive business are all reasons that account executives, broking managers and sales directors among others have in mind when thinking about their options for the future. The complexities around FCA compliance, handling client money, setting up a broking system, and the risk of business failure are all commonly given reasons why insurance people hesitate to take the leap and set up their own business. We have created a Guide to Starting Your Own Brokerage which we encourage you to read.
Speak to a member of our expert team
Coversure’s model is designed to deliver the benefits around earnings and freedom, while taking care of the non-client facing back-office work, ensuring you’re fully equipped to make your business a success.
Rob Palmer, Franchise Director
Our two-tier framework consists of an Appointed Representative (AR) route and an independently regulated Franchise route meaning that we have two options to suit your needs.
We offer a financial package that gives you the backing you need to launch your brokerage, and a robust business planning and modelling process to ensure it will be successful. Our track record for achieving business success is excellent, and we only back insurance professionals with a business case we know we can help them achieve.
Once planning is complete and our partnership is agreed, onboarding takes around 8 – 12 weeks from kick-off to when you can start trading. You will be assigned a member of the Development Team, who will guide you through the process of getting set up with insurer agencies, system access, website pages, and training from our systems, along with training and coaching from our Marketing, Product, and Compliance experts.
Once up and running, many broker partners who start on the Appointed Representative path have the ultimate ambition of launching a Coversure Franchise. The Franchise path is a long-term financial model, designed to help you scale and create value in the business asset you’re building.
What stood out for me with Coversure was that it was a business in a box. I could continue doing what I love, delighting clients and have the support of a wider business to look after my risk and compliance and client money and just enable me to do what I want to do.
Dan Hurley, Managing Director at Coversure Ringwood