The insurance intermediary landscape is diverse and constantly evolving. At one end of the spectrum, new insurtech start-ups are revolutionising pockets of the market – while at the other end of the scale, continual consolidation means that larger firms keep getting bigger. A successful insurance intermediary can be a very profitable, cash generative and stable business which makes it attractive to own, and equally attractive to invest in and lend to.
There are significant and ever-increasing pressures on management teams running insurance intermediaries. Whether it is competition from other firms for customers and staff, relationships with insurers, or keeping on top of regulatory or legislative requirements or IT issues, there is never a quiet moment. This means management teams need to be hands on; owners need a broad range of skill sets.
Why do people choose us? Because having PKF as a business partner will give you access to a team that understands the issues that insurance intermediaries are facing.
We are the largest auditor of insurance intermediaries in the UK. We work with over 100 insurance intermediaries, including innovative tech start-ups, many of the UK’s Top 50 brokers and Top 10 MGAs, and a significant number of mid-tier brokers. Our support is wide ranging – from helping insurtech founders optimise their business structure to carrying out the audit of a private equity backed national broker.
Insurance intermediaries rely on our advice for statutory audit, client money reviews and independent operational insight. Our tax experts understand the importance of compliance and beyond and we can help you if you are looking to incentivise your people or are buying or selling a business.
All our services are provided by our insurance intermediary specialists which means you are always advised by people who understand your business.
A global industry, a local business
Insurance is a global industry and we act for many businesses with global links. A UK firm might look to set up an international business with a substantial UK presence and our UK team will work alongside our international network of offices to give you the advice you need.
Sharing our knowledge
Our team spends a significant amount of time staying on top of emerging issues. We share our knowledge through webinars and seminars, guides on current topics and a regular newsletter for the insurance intermediary community. Our annual programme of events for senior management and financial professionals is built around the issues affecting the sector. We work hard to deliver a programme that adds value, enhancing our clients’ knowledge and improving their understanding of the issues. We also share our knowledge through guides that provide more detailed analysis of the issues and opportunities affecting the sector. Our insurance intermediary team are members of four insurance intermediary market trade bodies, support the work of the CII and are members of market liaison panels at the FCA.