Broker Network launches associate challenge

Broker Network has launched an associate membership in a bid to tempt dozens of firms to join up.

The Towergate-owned network has also revealed it is in talks with a number of other networks, including Westinsure, as its seeks to aggressively expand the business.

Broker Network chief executive Grant Ellis said Broker Network’s new associate offering would give brokers access to the network on a ‘try before you buy’ basis, then the option to commit to full membership.

“There was a gap in our offering and this completes the set,” he said. “Associate is a way of throwing down the gauntlet to some of the other [networks] and saying we are going to play in your space as well and compete head on with you.”

The Towergate-owned network is offering the first 50 members that sign up as a Broker Network associate a ‘golden hello’ by giving back 1% of their annual gross written premiums, up to a maximum of £10,000.

Ellis said he expected network membership would significantly increase over the next three years. “It is now a much more accepted route,” he said. “Interest in networks is at an all time high. It has raised the argument up from ‘shall I join a network’ to, ‘which network shall I join?’

“I would be surprised if we did not get dozens of brokers joining us in 2008.”

Last month, Insurance Times revealed that Westinsure had held advanced talks with a number of potential acquisitors.

Ellis said: “I would be very pleased if we could persuade Westinsure to come to us. It is one conversation that we have had.”