The share of brokers choosing to start their own operations rather than join established firms is growing. Jordan Maskell, network director at Coversure, said the majority of enquiries the network now receives come from people looking to launch, rather than experienced principals reviewing their network options.
That demand is reflected in a new office in Yeovil, Somerset, led by Scott Allen (pictured), a broker with more than 11 years of local market experience. The new operation will serve personal and commercial clients across Somerset. It is the latest in a run of openings that has taken the network past 90 offices across the UK.
The pace of expansion has been consistent. Coversure, part of the Jensten Group, opened 12 new offices in the eight months to May and reported its second consecutive year of record growth.
For experienced account executives weighing independence, the choice between seeking direct Financial Conduct Authority (FCA) authorisation and joining a network as an appointed representative has shifted. The FCA fell short of its target of deciding 95% of new insurance firm applications within four months in the January to March quarter. It processed only 82.1% of cases in that window, according to the regulator's own published data.
The network model offers a faster path: the same FCA data shows 96.2% of appointed representative applications were processed within two months. Network membership also gives independent brokers access to insurer panels, compliance infrastructure and market relationships from day one. Those resources would take years and capital to build independently.
Maskell said market consolidation is driving more account directors and executives to consider going out on their own. "Around 65% of the enquiries we now receive come from startup brokers," he said.
Allen said the network model offered the combination he was looking for. "I wanted the freedom to build and grow my own brokerage, while still benefiting from established insurer relationships, market access, marketing support, and operational expertise," he said.
The number of independent broking firms in the UK has nearly halved over the past 15 years, according to MarshBerry's Insurance Distribution in Europe 2025 Market Report. Private equity-backed consolidators have absorbed regional books across the country. Fewer locally owned operations now serve markets such as Somerset as a result.
Almost nine in ten UK brokers surveyed by Aviva in March, meanwhile, said they prefer working with insurers that maintain a strong regional presence. That preference has become harder to satisfy in some local markets as consolidation has reduced the number of independent intermediaries operating there.
Coversure's franchise model is designed to address that gap. Franchise holders run fully authorised brokerages under the Coversure name, with access to the Jensten Group's collective buying power and placement capacity, including at Lloyd's of London.
Under the Coversure structure, brokers launch and grow their own brokerage with the network's backing. When they choose to exit, they have the option to sell the business back to Jensten. That built-in succession route has become a draw in its own right.
