Making the move from employee to business owner can feel like a daunting step for any broker. For David Lucas Balaguer, founder of Coversure Molesey, it was an opportunity to build a business around his own values while continuing to do what he enjoys most: looking after clients and building long-term relationships.
Since joining Coversure in January 2023, David has grown his brokerage, achieved FCA authorisation, hired his first employee and laid the foundations for future expansion, all while benefiting from the support of the wider network.
A career built on relationships
David’s insurance career began over 25 years ago in Spain, where he worked with a British broker supporting expatriate clients with property and holiday home insurance.
After moving into an insurer development role, he discovered a passion for sales, networking and relationship-building that continues to drive him today.
Relocating to the UK in 2008, David developed his expertise across a variety of broking roles before becoming an Account Executive responsible for managing and growing his own portfolio of clients.
In 2022, I saw an opportunity to create something for myself. I wanted to build a business around my own values and focus on delivering the best possible service to clients.
David Lucas Balaguer, Managing Director at Coversure Molesey
Choosing Coversure
As he prepared to launch his brokerage, David knew he wanted the support of an established insurance network. What stood out about Coversure was the confidence it gave him to focus on clients rather than administration.
That confidence proved invaluable during the critical first year.
I remember the team being very helpful and making things easy. The main reason I chose Coversure was that they made me feel I didn’t have to worry about anything other than servicing my clients.
David Lucas Balaguer, Managing Director at Coversure Molesey
Growing a brokerage with the right support
Looking back, David sees his Coversure journey as a natural progression.
In the beginning, there’s a lot of support while you’re getting established. As the business grows, you become more independent and self-sufficient, but it’s reassuring to know there’s always an experienced team there to offer advice and guidance when needed.
David Lucas Balaguer, Managing Director at Coversure Molesey
Building for sustainable growth
“The goal in year one was simply to earn what I had earned as an employee and bring as many clients across as possible. Fortunately, I was able to achieve that.”
While David’s first year benefited from strong client retention, he believes the real growth story has emerged more recently. After implementing new business processes, hiring his first employee and investing in business coaching, Coversure Molesey entered a new phase of development.
“The biggest change has been mindset,” says David. “Working with a business coach helped me start looking at opportunities differently and focus on growth.”
The brokerage also introduced a more structured approach to roles and responsibilities within the business: “We now focus on what everyone does best so we can maximise both client retention and new business.”
The value of hiring early
One of David’s strongest pieces of advice for brokers considering starting their own business is not to delay hiring support.
His first employee, Shahid, has had a significant impact on the business.
“Shahid brought a background in processes that helped us with our FCA application and compliance requirements, alongside delivering excellent broking support for clients.”
Beyond technical expertise, David believes additional team members are essential for long-term growth.
Even if you enjoy your job, you cannot grow without help. Until your business generates income without relying entirely on you, you don’t own a business. You own a job.
David Lucas Balaguer, Managing Director at Coversure Molesey
The power of the Coversure community
While operational support has been valuable, David says one of the greatest strengths of the network is the community itself.
The internal online hub is a great resource, but talking to other Coversure offices and sharing challenges is probably the best thing about being part of the network.
David Lucas Balaguer, Managing Director at Coversure Molesey
“I believe clients should always receive the best expertise available, even if that means someone else is better placed to support them.”
Looking ahead
David’s ambitions remain firmly focused on growth. His goal is to increase revenue by 25% and create the foundations needed to recruit a dedicated business development professional in the coming years.
With ongoing access to insurer markets, operational support, compliance expertise and a collaborative network community, he’s confident Coversure will continue to play an important role in that journey.
A platform for growth
For brokers considering starting their own brokerage or joining an insurance network, David’s experience offers a valuable perspective.
By combining entrepreneurial ambition with the right support structure, independent brokers can build successful businesses without facing every challenge alone.
The best thing about Coversure is knowing there’s a wider group behind you. If I ever need support, expertise or help, it’s there.
David Lucas Balaguer, Managing Director at Coversure Molesey
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