What Jackson Lee Underwriting does

Jackson Lee Underwriting, trading as Virtual Insurance Products Ltd, is a UK-based Managing General Agent founded in 1992 that designs and distributes a portfolio of niche insurance products exclusively through insurance brokers. The firm is headquartered in Totnes, Devon, with additional offices in London and Warwickshire, and operates as a 11-50 employee specialist underwriter. Its product range spans GAP insurance, learner driver cover, excess protection, breakdown, travel, caravan, e-bike, and Early Termination Insurance, with newer additions including Single Commercial Vehicle GAP (2021) and EV Early Termination Insurance (2022) targeting salary sacrifice and corporate fleet customers.

The firm's distribution is anchored by the proprietary ABEL online platform, through which brokers obtain quotes, bind cover, and administer policies. Jackson Lee holds an exclusive GAP scheme partnership with the British Insurance Brokers' Association (BIBA), in place since 2012, and in 2021 took over the BIBA Travel Plus schemes, deepening its role as a BIBA-affiliated scheme provider. Named broker customers include Higos, Caleb Roberts, Jelf, AJ Insurance, and Buckingham Insurance, indicating a mid-market and SMB broker focus rather than direct consumer distribution.

The business model is that of a traditional MGA: Jackson Lee underwrites and administers niche specialty lines on behalf of capacity providers, earning commission and fee income on policies placed through its broker network. Retention metrics reported by the company include a 94% broker renewal rate and 40% conversion, suggesting a stable, recurring revenue base rather than rapid volume expansion. The firm is FCA-regulated and has appointed Geoff Chapman as a Non-Executive Director, signaling incremental professionalization of governance.

Name

Jackson Lee Underwriting

Legal name

Virtual Insurance Products Ltd

Website

https://jacksonleeunderwriting.co.uk

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

11–50 employees

Short description

Jackson Lee Underwriting is a UK-based Managing General Agent founded in 1992 that underwrites and distributes niche insurance products — including GAP, travel, learner driver, breakdown, and EV termination cover — exclusively to insurance brokers via its proprietary ABEL online platform.

Ownership category

akta.pro rank

Product category

Specialty Insurance Underwriting (MGA)

NAICS

Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Insurance Program Administration & MGA/MGU Services (FSAEADAK)

akta.pro secondary industry

Specialty & Excess/Surplus Lines (E&S) (FSAJAMAH)

Keywords

• GAP insurance products
• Broker MGA services
• Specialty insurance underwriting
• Travel insurance schemes
• Fleet commercial insurance

Headquarters

HQ city

Totnes

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. MGA Brokerage Commissions: Jackson Lee Underwriting operates as a Managing General Agent (MGA), earning commission from underwriting capacity providers (insurers) on premiums written through the broker channel. All products are annually renewable, generating recurring commission streams for both the MGA and its broker partners. Commission is paid to brokers on each policy sale and renewal.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

Jackson Lee Underwriting is an FCA-regulated Managing General Agent (MGA) that designs, prices, and underwrites a portfolio of niche personal and commercial insurance products — including GAP insurance, learner driver motor, excess protection, breakdown, travel, personal accident, static caravan, e-bike, and early termination cover for EV salary sacrifice schemes. All products are sold exclusively to UK insurance brokers (B2B2C) via the proprietary ABEL online portal under A-rated capacity, with brokers earning commission on annually-renewable premiums.

Product overview

Jackson Lee Underwriting is a Managing General Agent (MGA) operating since 1992 that provides niche insurance products exclusively for insurance brokers through the BIBA scheme. The company operates through the ABEL online platform and offers two main portfolio categories: Personal Lines (including GAP Insurance, Learner Driver Motor Insurance, Excess Insurance, Motor Breakdown, Travel Insurance, and Personal Accident) and Commercial Lines (including Fleet GAP, Commercial Vehicle GAP, Commercial Excess, Breakdown, Corporate Travel, and Early Termination Insurance). Their flagship offerings include GAP Insurance products (Universal GAP, Purchase Price Protection, Combined Finance & PPP GAP, Lease GAP, Fleet GAP, EV GAP) and BIBA-endorsed Travel Insurance products (Holiday Travel+, Sports Travel+, Holiday Traveller, Longer Stay). The company also offers specialty products including E-Bike Insurance, Static Caravan Insurance, Learner Driver Insurance, and Early Termination Insurance for EV salary sacrifice schemes. Products are distributed exclusively through insurance brokers with underwriting backed by A-rated security.

Differentiator

Problem solved

Functional benefit

Products and services

• GAP Insurance (Universal, Purchase Price Protection, Combined Finance & PPP, Lease, EV) A family of GAP insurance products that pays the difference between the motor insurer's total-loss settlement and the original invoice price, outstanding finance, or outstanding lease balance — including cover for leased electric batteries and an optional temporary replacement vehicle. Sold exclusively to UK insurance brokers for distribution to personal-lines customers.
• Fleet GAP Insurance Annually-renewable GAP product for fleets of cars, vans and trucks up to 44 tonnes; tops up the motor insurer's total-loss settlement by 25% or pays the outstanding finance/lease balance (whichever is greater) and includes temporary replacement vehicle provision. Quoted via the ABEL Quick Fleet Quote tool for brokers placing fleet business.
• Single Commercial Vehicle GAP Insurance GAP insurance for a single commercial vehicle between 3.5t and 44t, addressing owner-operators in haulage who fall below the minimum 3-vehicle Fleet GAP requirement. Broker-only distribution via the ABEL portal.
• Early Termination Insurance (ETI) for EV Salary Sacrifice Protects businesses running EV salary-sacrifice programmes against early termination charges from employee events including resignation, loss of licence, sickness, maternity/paternity, expatriation or death. Sold through brokers as part of the BIBA GAP scheme extension.
• Learner Driver Motor Insurance Short-term, flexible motor insurance (7 days upward) for learner drivers that can be arranged in the learner's own name or to drive under instruction in another vehicle, protecting parents' main motor insurance policy and no-claims bonus. Broker-only distribution via ABEL.
• Motor Breakdown Insurance (incl. Fleet and Commercial Vehicle Breakdown) UK and European motor breakdown cover for cars up to 15 years old, plus Fleet Breakdown for 3+ vehicle fleets and Commercial Vehicle Breakdown for vehicles up to 7.5t GVW. Average 43-minute response time and 95% customer recommendation rate. Broker-only distribution via ABEL.
• Excess Insurance (Motor, Lifestyle, Commercial, Car Rental) Suite of excess reimbursement products: Motor Excess Protect (reimburses client excess on motor fault claims), Lifestyle Excess Insurance (single policy covering non-recoverable excess across motor, home and annual travel), Car Rental Excess Insurance (single or annual multi-trip cover up to £6,000 including windscreen, roof, tyres and undercarriage), and Commercial Excess Insurance / Single Commercial Excess Protect (commercial vehicles up to 3.5t GVW). Broker-only distribution via ABEL.
• Travel Insurance (Holiday Travel+, Sports Travel+, Holiday Traveller, Longer Stay) BIBA-endorsed personal travel insurance suite including Holiday Travel+ (cancellation up to £10,000 per person, cruises covered as standard, up to age 75 annual / 85 single trip), Sports Travel+ (350+ adventure sports, up to age 65), Holiday Traveller (budget cover with optional Winter Sports, Golf, Gadget and Rental Excess add-ons), and Longer Stay (single-trip up to 540 days including non-manual study/work). Covid-19 cover is included as standard. Broker-only distribution via ABEL.
• Corporate and Business Travel Insurance Multi-sectioned travel insurance for business travellers, including 24/7 emergency medical expenses, cancellation cover, business equipment, money and replacement employee cover, with incidental holidays included. Broker-only distribution via ABEL for SME/corporate clients.
• Personal Accident Insurance (incl. Group, Motorsport and Track Day) Tax-free cash payment on Accidental Death or Disablement, available as fixed lump sums and weekly benefits; offered as Personal Accident, Group Personal Accident, Track Day Personal Accident and Motorsport Personal Accident — including Temporary Total Disablement weekly benefits. Broker-only distribution via ABEL.
• Static Caravan Insurance Annually-renewable cover for static caravans up to £150,000 sum insured, with New for Old or Market Value cover options, including storm, flood, fire, theft, accidental damage and £5 million public liability, plus optional letting cover. Underwritten by AXA Insurance. Broker-only distribution via ABEL.
• E-Bike Insurance Stand-alone annual insurance for electric bikes valued up to £10,000, covering theft away from home, material damage, battery cover, optional at-home cover, accessories, replacement e-bike hire, and breakdown/rescue. Broker-only distribution via ABEL.

Quantifiable outcome

• ~94% Fleet GAP renewal retention during COVID-19 pandemic; ~90% standard renewal retention rate
• +5 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• British Insurance Brokers' Association (BIBA)coreGTM or Marketing Partner · 1 January 2012Jackson Lee Underwriting has been the BIBA approved exclusive GAP scheme provider since 2012 and is the BIBA endorsed travel insurance scheme provider. BIBA endorses JLU's products to its member brokers, providing marketing support, webinar platforms, and a recognised industry badge. This is JLU's primary channel and the most significant partnership.

Scale indicators12 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Markerstudy Insurance Services: UK insurance group operating MGAs and broker-distributed motor, home and GAP products at greater scale than JLU. Comparable broker-channel MGA operations and UK motor aftermarket exposure.
• Covéa Insurance: UK P&C insurer with significant broker distribution across personal and commercial lines including motor. Broad incumbent in the same broker-distribution channel where JLU operates, though with a much wider product portfolio.

Direct peers

• Intelligent Insurance Solutions: UK GAP insurance specialist distributing through brokers and dealer networks. Directly comparable niche positioning and product range (Universal GAP, Lease GAP, Finance GAP).
• Car Care Plan: UK warranty and GAP administrator/MGA offering mechanical breakdown, GAP and excess products through motor dealers and brokers. Comparable in product breadth (GAP/warranty/excess) and UK broker-channel focus.
• ALA Insurance Brokers: UK GAP insurance specialist operating as both broker and MGA, with a direct-to-consumer and broker-channel presence. Closely comparable to JLU on GAP underwriting expertise and UK regulatory positioning.
• Activate Insurance Group: UK provider of GAP insurance and motor ancillary products distributed through brokers. Comparable niche product portfolio and broker-distribution model targeting personal and commercial lines GAP, similar to JLU's flagship offering.
• Autoprotect: UK MGA specialising in GAP insurance, warranty and motor ancillary products distributed through motor dealers and brokers. Highly comparable to JLU on product mix (GAP, warranty, excess) and broker-channel distribution model, making it the closest direct peer.

Others

• AXA Insurance UK: UK insurer that underwrites JLU's static caravan product and serves as a capacity partner. Major UK broker-channel insurer and ecosystem participant relevant to JLU's distribution and capacity economics.
• Ageas UK: UK insurer that underwrites JLU's breakdown cover and acts as a capacity provider in the broker channel. Directly connected as a wholesale risk partner rather than a competitor, but operates in the same regulatory and distribution environment.
• British Insurance Brokers' Association (BIBA): The UK broker trade body that exclusively endorses JLU's GAP and Travel schemes. Not a competitor, but the most important channel partner shaping JLU's distribution access and competitive positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/JLUnderwriting
• LinkedInlinkedin.com/company/jackson-lee-underwriting

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 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 Jackson Lee Underwriting