Biba and Intact Insurance back next generation of brokers with new hub

Biba and Intact Insurance have launched a new Startup Hub designed to support insurance professionals looking to establish their own brokers.

The initiative will provide aspiring broker owners with practical guidance, industry insight and resources covering the different stages involved in launching and developing an insurance intermediary.

Support will include information on routes to market, including becoming directly authorised or operating as an appointed representative (AR).

The hub will also provide guidance around FCA expectations, preparing for authorisation or appointment, business planning and operational requirements.

‘Simplified journey’

The resource combines Biba’s knowledge of the UK broking sector with Intact Insurance’s experience of working with independent brokers.

Graeme Trudgill, chief executive at Biba, said: “My ambition is to support and encourage the next generation of startup insurance brokers.

”Over the past decade, consolidation has changed the shape of the market. This has created opportunities for new entrepreneurial brokers to establish their own businesses and serve customers in new and innovative ways.

“Whether you’re exploring the idea for the first time, operating as an AR or considering direct authorisation, there are important decisions to make around regulation, business planning and growth. The Startup Hub has been created by Biba and Intact Insurance to help simplify that journey.”

Tovah Grosscurth, managing director at Intact Insurance, added: “Through our partnership with Biba, we’re proud to support this resource that gives brokers access to practical guidance and insight at every stage of their journey.

”By helping the next generation of brokers establish strong foundations, we can contribute to a vibrant and competitive broking sector that continues to deliver value for customers across the UK.”