Say Hello to Bravo Ventures

The latest news from Bravo Networks;

Bravo Networks has announced the launch of Bravo Ventures, a new proposition designed to help aspiring insurance brokers enter the market more easily and build independent businesses at pace.

With ambitious plans in place to scale up to 75 partners in the next 5 years, the initiative has been created in response to growing concerns about how difficult and time consuming it has become to start a brokerage in the UK. The launch also aligns with government ambitions to accelerate authorisation timelines, with targets to cut approval times from six months to four for complete applications, and from twelve months to ten for incomplete applications.

This proposition has been shaped through member feedback, that highlighted the commercial and regulatory challenges new entrants face, as also evidenced in BIBA’s open letter to the chancellor earlier this year showing that only two new general insurance brokers were authorised by the FCA, in the first quarter of 2025.

Graeme Trudgill, BIBA Chief Executive said: “BIBA are delighted to see Bravo Networks supporting the industry with this new proposition. This initiative aligns to our 2025 Manifesto ‘Partnering to deliver value’ which clearly set out the importance of collaboration to achieve the Government’s growth mission and address the challenges faced by insurance brokers and customers and we look forward to working with them as their proposition grows”

Bravo Ventures aims to support government ambitions by providing practical guidance throughout the FCA authorisation journey, supporting new firms with the operational requirements for setting up a business, and giving them access to insurer agencies with our founding partners that would ordinarily be out of reach for a startup.

The service will also help new brokers establish their placement strategy, make use of trading tools, and tap into key business services such as compliance, client money, HR, marketing and training support. Karen Jackman, Managing Director of Bravo Networks, said: “The broking industry relies on a steady flow of new, independent businesses.

Right now, those businesses are struggling to get off the ground because the process can be daunting and the information required deemed complex.

Bravo Ventures is designed to change that and through its dedicated team, it will help guide startups through authorisation, helping them get operational, and giving them access to insurer agencies from day one, we’re making it genuinely possible for new brokers to launch and thrive as independent firms.”

Jackman added that the new offer will also strengthen the wider broking landscape by increasing the choice for customers by increasing the number of brokers in the market and supporting a more competitive market. “Access to markets is one of the biggest hurdles for startups because insurers typically require firms to reach a certain size before granting agencies. Through our existing network relationships, Bravo Ventures removes that hurdle by offering agencies with our founding insurer partners.

The result is more brokers entering the sector, more competition, better pricing and a more vibrant, broking community.”