Starting your own business is an amazing, life-changing decision. Overnight you become your own boss and the master of your own destiny. There are of course challenges associated with such a move – especially for would-be independent insurance brokers. Access to markets, keeping up with compliance regulations, accounts and marketing, all these functions are suddenly your responsibility and have to juggle these priorities while doing your day job, looking after your customers.
What you need is a partner. An experienced set of hands that can relieve you of these essential back-office tasks and allow you to focus on growing your business from day one. What you need is Coversure.
Coversure has been helping ambitious and entrepreneurial insurance professionals establish profitable brokerages since 1986. This year alone we’ve helped establish three new brokerages including Coversure St. Neots which was founded by long-time insurance professional, Gary Armiger. Gary is typical of many of our new franchisees that he was a senior manager in an insurance brokerage who was looking for help in striking out on his own.
“I was in a senior management position in an insurance broking office. My role covered sales, operations, marketing, compliance, and HR My business partner and I chose Coversure because it was affordable, offered us good market access, and the level of back-office support that was on offer.”
Gary, and his business partner Ben, had been wanting to open their own office for sometime, but were only too aware of the challenges they’d face if they tried to go it alone. Sensibly they took their time, thought it through and when the time was right, they chose Coversure as they knew that they’d have the support they needed:
“The range of services of offer was really helpful to us. It was reassuring to know there was expertise available if needed for compliance, products, marketing etc.”
Coversure St Neots opened in March 2021 and got off to a great start. The team have worked hard, made the most of the centralised support services on offer and have experimented with a range of marketing channels to help get their name out. Starting any business from scratch brings its challenges, but they are already reaping rewards from their efforts.
“One thing that’s become clear is that people still want a local insurance broker. Letting them know that we are here is a critical task at present.”
Thanks to Coversure’s close connections to leading insurers, Gary and Ben have been able to access a wide range of quality products and have seen their commercial business grow quicker than expected. This, and a niche scheme for leisure homes, is helping them to forge the business inline with their interests and gives them a solid foundation for the future.
“If you want to run your own business, the franchise route gives you the most affordable and immediate access to a wide range of agencies which is essential.”