Broker Expo 2022: £250,000 to set up a broker
It would cost around £250,00 to set up a broker from scratch these days, according to Brokerring CEO Stuart Randall.
Speaking at Insurance Age’s Broker Expo in Coventry today Randall, pictured, told the audience that the figure was “way beyond most people’s abilities”.
“The likes of Movo, Gauntlet and Momentum are vital as nurseries for new insurance brokers,” he insisted.
“As a new insurance broker you have to have a mothership really.”
Questioned on the figure Randall highlighted that start-ups needed to have a “certain volume” of business to get agencies from insurers in the first place.
He listed the
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