Jensten to invest £1m in brokerage incubation scheme

Jensten Group is to invest up to £1m this year to help 15 individuals to start their own independent brokerages. Aimed at brokers with around 10-years’ experience the initiative will be run through Coversure, the group’s network for independent brokers.

Under the terms of the three-year AR commitment to Coversure, brokers accepted onto the incubation scheme will have all their set up costs for the first six months of trading fully covered - including IT services, PI cover, tools, support, coaching, training and with zero return to Coversure for any business written in that period.

The start-up funding is not a loan and the AR will be expected to be self-funding after the initial six months with a view to eventually becoming a fully-fledged, regulated broker within the existing 90-strong Coversure franchise operation.

Rob Palmer (pictured), franchise director, Coversure commented: “A common challenge for insurance professionals looking to launch their own insurance brokerage can be the start-up requirements. We believe that there is a cohort of extremely talented individuals out there in the market who are currently in employed roles who have the ability to not just run a portfolio themselves but to build a sizeable business and we’d love to help them to make that move.

“To help support these ambitious individuals we have developed an efficient and affordable new entry route into our Coversure network ensuring that individuals with high capability but potentially limited capital to invest personally can begin the journey of building their own brokerage. We are seeking to build long term relationships with ambitious future business owners who have the skills and motivation to establish significant broking businesses which in turn create real financial value for the people who partner with Coversure.”

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