The British Insurance Brokers’ Association and Intact Insurance have launched a start-up hub for brokers to provide practical guidance, insight and resources to those looking to establish and grow their own brokerage. The aim is to support new growth in a market that has seen significant consolidation in recent years.

The hub provides information on different routes to market, regulatory requirements and readiness, business planning and operational considerations.

Tovah Grosscurth, managing director of Intact Insurance, said: “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.”

Graeme Trudgill, CEO of BIBA, added: “My ambition is to support and encourage the next generation of start-up 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.”

The new hub also received government support from the Minister for Small Business and Enterprise, Lord Leong CBE.

He said: “Small businesses are the cornerstone of economic growth, innovation and local prosperity. To ensure they thrive, we must create a culture that supports entrepreneurship in every community and high street. Schemes like this one are crucial because they do just that, helping the UK to become the best place to start and grow a business.”