UK insurance brokers are experiencing a soft market, which creates increased competition, downward pressure on premiums, and heightened customer scrutiny. For brokers, this creates margin challenges at a time when they are being asked to deliver more value than ever. In this environment, sustainable growth depends not on short-term tactics, but on strong partnerships, trusted expertise, and resilience to adapt.
At Close Brothers Premium Finance, supporting broker growth is central to our proposition. Our role is to help brokers navigate market change with confidence – and in doing so, support the UK PLCs and SMEs that rely on them for protection and stability.
A broker-focused partner
Our model is deliberately simple: we focus on the broker market. Unlike some providers that operate across multiple distribution channels, our success is directly aligned with the success of our broker partners. That broker-only focus underpins how we invest, how we innovate and how we prioritise service.
This commitment enables us to work in genuine partnership, building long-lasting relationships based on trust and transparency. In a soft market, where pressure on price can easily erode value, those relationships are critical.
As Colin Wallace, Commercial Director at Close Brothers Premium Finance, explains: “Soft markets test resilience. For brokers, having partners who are consistent, clear and genuinely aligned to broker interests makes a real difference. Our focus on brokers means we can invest fully in the relationships, capabilities and insight that support long-term growth.”
Using insight to unlock opportunity
Insight plays an increasingly important role in providing resilience and enabling growth. Understanding how customers behave, where affordability pressures sit, and how premium finance is used across a book allows brokers to identify opportunities, manage risk and improve outcomes.
We invest in data-led insight that helps brokers better understand performance – from penetration levels and persistency to behavioural trends. This intelligence not only supports more informed conversations with customers but also shapes how we continue to evolve our own proposition.
Our Focus360 tool is unique in the market and gives brokers a clear, data led view of how premium finance performs across their book, turning insight into action. By analysing real customer behaviour – from penetration and persistency through to affordability and payment trends – Focus360 helps brokers identify growth opportunities, strengthen customer conversations and embed premium finance more confidently and consistently. The result is better outcomes for customers, more informed decision making for brokers and a stronger, more sustainable premium finance proposition.
Colin Wallace notes: “Insight allows us to move beyond assumptions. It helps brokers see where premium finance can add value, and it helps us develop tools and support that are grounded in how customers actually behave.”
Investing in broker capability through training
Capability building is an essential part of supporting brokers to grow. Pricing alone is rarely enough; brokers also need clarity, confidence and consistency in how they discuss premium finance with customers.
We invest in a comprehensive broker training programme designed to support advisers at every stage of their journey. Training covers regulatory considerations, customer transparency and practical guidance on positioning premium finance effectively across both commercial and personal lines.
Delivered through a range of flexible formats, our training is designed to fit around broker businesses while helping teams build expertise and professionalism. Further details can be found at www.closebrotherspf.com.
Driving growth through targeted initiatives
Alongside insight and education, we recognise the value of practical initiatives and incentives that support broker growth.
We continue to evolve a range of programmes designed to increase engagement, improve penetration, and reward sustainable performance. One of the key developments we are working on is Elevate – a new broker growth programme, currently in pilot stage, focused on helping brokers maximise the value of premium finance within their business.
Elevate brings together insight, training and tailored support into a structured framework that is designed to flex around different business models and growth ambitions. It’s about partnership, not prescription, supporting brokers to grow in ways that are right for their customers.
Growing together in a changing market
Soft markets present challenges, but they also create opportunities for brokers who are willing to invest in relationships, insight and capability.
“Our commitment to brokers doesn’t change with the market cycle,” concludes Colin Wallace. “By staying focused on partnership, insight and long-term value, we believe brokers can not only navigate a soft market but emerge stronger from it – alongside the businesses they support.”
By combining a broker-focused model, data-led insight, meaningful training investment and initiatives such as Elevate, Close Brothers Premium Finance remains committed to helping brokers grow sustainably – whatever the market conditions.
