What BareRock does

BareRock is a UK-based, digital-first Managing General Agent (MGA) that provides Professional Indemnity Insurance (PII) specifically to UK financial advisers and planners. Founded in 2023 and operating under a holding company structure (BareRock Holdings Limited) with three subsidiaries, BareRock Limited is the FCA-regulated appointed representative of IFAPROSURE Limited (FCA reference 950684) and underwrites the core PII policy; BareRock Claims Limited handles claims management with specialist law firm RPC; and BareRock Risk Management Limited provides data-led risk assessment services targeting advisers in complex areas such as DB Transfers, Equity Release, and NMPI. The company differentiates from the legacy PII market through a proprietary Dynamic Rating Model that prices premiums on firm-specific culture, conduct, and individual qualities rather than market averages, a fully digital application and member portal with collaborative features, a transparent admin fee that avoids Insurance Premium Tax on commission, and a tiered BareRock Club membership programme (Club, Club 10, Club 20) that rewards well-run firms with progressive premium reductions.

The business model is a per-firm recurring premium plus a separate transparent administration fee, with flexible payment terms (single upfront or 3/6/10 month instalments via a third-party processor) and discretionary partnership discounts of 5–10% via approved compliance vendor Verve. Go-to-market is multi-channel: direct digital application through apply.barerock.group, self-serve policy management through portal.barerock.group, partner referrals from an ecosystem of eight approved technology and compliance providers (Analyser, Comentis, EV Pro, Fintegrate, Model Office, Money Alive, Verve, When We Think), and thought leadership content distributed via trade media (FT Adviser, Money Marketing, Professional Adviser, IFA Magazine) and the BareRock Briefing. The target customer segment is exclusively forward-thinking financial advice and planning firms that can demonstrate robust risk management, with reported metrics of 100% second-year renewal retention and 78% Club tier progression among engaged firms. The team comprises 1–10 employees led by Co-Founders and CEO Jonathan Newell and COO John Netting, with Mark Huxley as Non-Executive Chairman and Lee Robertson as NED and Head of Strategic Partnerships.

Name

BareRock

Legal name

BareRock Limited

Website

https://barerock.group

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Short description

BareRock is a UK-based, digital-first Managing General Agent providing Professional Indemnity Insurance exclusively to financial advisers and planners, using a proprietary dynamic rating model, tiered Club membership, and a partner-integrated ecosystem to reward well-run firms with fairer premiums.

Ownership category

akta.pro rank

Product category

Professional Indemnity Insurance

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Claims Management & Digital FNOL Platforms (FSAGAGAC)

Keywords

• Professional indemnity insurance
• Financial adviser coverage
• Insurance underwriting services
• Risk management services
• Claims management services

Headquarters

HQ city

Leigh-on-sea

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. PII Premiums: Core revenue from Professional Indemnity Insurance premiums. Firms pay a premium that reflects their individual risk profile based on BareRock's dynamic rating model. Premiums can be paid as a single upfront payment or spread over 3, 6, or 10 monthly instalments through a third-party payment processor.
2. Transparent Administration Fees: BareRock charges a transparent fee separate from the premium. Unlike commission-based models, this fee does not attract Insurance Premium Tax (IPT), providing cost savings compared to traditional broker arrangements where commission is subject to IPT.
3. Risk Management Services: BareRock Risk Management Limited provides risk assessment services for advisers working in complex areas (DBTs, Equity Release, NMPI) who may have been rejected by legacy markets. This subsidiary works to understand businesses and help secure appropriate cover.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

BareRock provides digital-first Professional Indemnity Insurance (PII) specifically designed for UK financial advisers and planners, using a proprietary dynamic rating model that underwrites each firm on its individual culture and conduct rather than market averages. The offering is delivered through a fully online application and member portal, supported by a transparent fee structure (not subject to Insurance Premium Tax), flexible instalment-based payments, and complementary claims handling and risk management services. All policyholders are enrolled in the BareRock Club, a tiered recognition programme that rewards firms demonstrating robust risk management practices.

Product overview

BareRock is a digital-first Professional Indemnity Insurance (PII) provider for financial advisers and planners. The core offering is BareRock Professional Indemnity Insurance, complemented by the BareRock Club (a tiered recognition program with Club, Club 10, and Club 20 tiers), BareRock Claims (claims management powered by RPC), and BareRock Risk Management (intelligent risk assessment). The platform features a fully digital application process, dynamic rating model, flexible payment options, and a dedicated online portal. All insured firms become members of the BareRock Club.

Differentiator

Problem solved

Functional benefit

Brands

• BareRock Club: Membership programme that recognises and rewards financial advice firms committed to best practice through tiered membership (BareRock Club, Club 10, Club 20)
• BareRock Claims
• BareRock Risk Management

Products and services

• BareRock Professional Indemnity Insurance Digital-first Professional Indemnity Insurance product specifically designed for UK financial advisers and planners, with a fully digital application process, a dynamic rating model that emphasises firm culture and conduct over market averages, and a transparent fee structure.
• BareRock Claims Claims management service powered by specialist law firm RPC (Reynolds Porter Chamberlain LLP), offering proactive and supportive claims handling with expert legal support for complex matters and FCA DISP 1.5.1R 3-day rule policy wording.
• BareRock Club Tiered recognition and rewards programme for financial advice and planning firms committed to delivering good client outcomes, with three membership tiers (BareRock Club, Club 10, Club 20) that unlock premium reductions and additional benefits.
• BareRock Risk Management Data-led risk assessment and risk management service for financial advisers, particularly those working in complex areas such as DB Transfers, Equity Release, and NMPI, helping firms de-risk and secure appropriate PI cover that legacy markets may have rejected.

Quantifiable outcome

• 100% renewal retention rate (vs industry average of 80-90%)
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature5 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• AnalysercoreTechnology or IntegrationAnalyser is a software platform helping financial advisers and planners deliver better outcomes by providing tools to analyze clients' financial situations and make needs-based recommendations. Firms using Analyser score favorably in BareRock's premium rating process.
• ComentiscoreTechnology or IntegrationComentis offers a comprehensive digital Financial Vulnerability Assessment tool for FCA-regulated firms to identify and support financially vulnerable clients. The platform combines clinical and technical expertise, aligns with FCA's four drivers of vulnerability, and creates extensive reporting. Club Member firms using Comentis can gain points toward their Club score.
• EV ProcoreTechnology or IntegrationEV is one of the UK's market-leading digital financial planning solutions providers, offering intuitive customer-centric advice and guidance software and investment solutions for intermediary financial partners.
• FintegratecoreTechnology or IntegrationFintegrate tackles laborious areas of the adviser firm's planning process by aligning with each firm's Centralised Investment Proposition. Their technology eliminates disjointed advice processes, reduces costs and business risk, and ensures consistent client outcomes.
• Model OfficecoreTechnology or IntegrationModel Office uses compliance-driven research and data to benchmark firms' working environments against five regulatory keys: focus, engagement, promise, systems, and people. Aimed at financial advisers, planners, wealth managers, and banking organisations.
• Money AlivecoreTechnology or IntegrationMoney Alive has developed advanced Interactive Video Engagement products for the financial services market. Their products drive, evidence, and ensure consistency of consumer engagement and understanding, supporting Consumer Duty principles.
• VervecoreImplementation/ SI/ Consulting PartnerVerve provides compliance support combining expert consultancy with smart technology and real-time business oversight. Verve Compliance Standard clients receive an additional 5% discount on BareRock premiums and fees; Compliance Premium clients receive 10% discount. These partnership discounts stack on top of any BareRock Club tier.
• When We ThinkminorImplementation/ SI/ Consulting PartnerWhen We Think is a training, coaching, and facilitation practice founded by Becca Timmins, a qualified Thinking Environment coach with over 20 years' experience in financial planning. They help financial planners and teams have better conversations and deepen client relationships.
• RPC (Reynolds Porter Chamberlain LLP)coreImplementation/ SI/ Consulting PartnerRPC is BareRock's specialist claims handling partner. They collect relevant information, verify policy coverage, assess claim validity, evaluate compensation, and provide expert legal support for complex matters. RPC also provides thought leadership content on FOS reforms.
• IFAPROSURE LimitedcoreStrategic or Co-development PartnerIFAPROSURE Limited is the principal firm for which BareRock Limited acts as appointed representative. IFAPROSURE is authorised and regulated by the FCA. BareRock operates under their regulatory umbrella (FCA reference 950684) as the co-manufacturer of the BareRock professional indemnity policy.
• Institute for Financial WellbeingminorStrategic or Co-development PartnerBareRock joined the Institute for Financial Wellbeing as a Partner Member, participating in the industry community focused on financial wellbeing.
• Just Finance Foundation (JFF)minorStrategic or Co-development PartnerBareRock asked the advice community to 'Join the Club' and pledge support for Just Finance Foundation, demonstrating commitment to social responsibility in the financial advice sector.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Premier Insurance Solutions: UK insurance broker providing specialist Professional Indemnity Insurance for financial advisers, IFAs and accountants. Direct niche overlap with BareRock's specialist IFA PII focus.
• Markel UK: Major specialty insurer with a well-established PII practice for UK professionals, including financial advisers. Comparable in underwriting professional liability lines but operates at far greater scale; BareRock's selective IFA focus is differentiated against its broader book.
• Hiscox UK: Significant UK provider of professional indemnity and liability insurance to professionals including IFAs. Comparable in product (PII) and customer base, with competing digital distribution capability.
• Russell Insurance Group: UK specialist broker focused on financial adviser Professional Indemnity Insurance. Most direct competitive overlap with BareRock in terms of customer segment (UK IFAs), product (PII), and broker intermediary model.
• Jensten Group: UK insurance broker and MGA with a specialist professional indemnity offering serving IFAs and other professionals. Direct comparable in segment and intermediated distribution model.

Broad incumbents

• Bluefin Insurance (Covéa): UK insurance broker (part of Covéa) arranging PII for financial advisers and other professionals. Comparable in customer and product but operates within a much larger multi-line group.
• Howden Insurance Brokers: Large UK-specialist insurance broker with substantial financial lines and IFA practice. Comparable in intermediating PII for IFAs but operates as a broad multi-line broker rather than a specialist underwriting agency.
• PIB Group: UK insurance broker consolidator with a specialist adviser/financial lines practice. Comparable in serving IFAs for PII but operates as a multi-product consolidator rather than a digitally-native specialist.
• Beazley: Lloyd's-based specialty insurer with a strong professional indemnity franchise covering professionals including financial advisers. Comparable product line but much broader portfolio and global scale.

Regional players

• Scrutton Bland Insurance: UK regional insurance broker arranging PII specifically for financial advisers and accountants. Comparable niche focus and customer segment, though smaller and more regional than national peers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/BareRock_PII
• LinkedInlinkedin.com/company/barerock

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BareRock