A new broker cluster group formed exclusively for Australian independent brokers has been widely welcomed, the founder says.

Broker Co-op founding member Charles Gow-Gates, Director at Sydney-based Barrack Broking, told insuranceNEWS.com.au 22 membership enquiries have been received since last week’s launch.

“The brokers come from all over Australia, and they range from small, newly established AFS licensed brokers to large groups with national offices,” he said.

“We’ve also received widespread support from other services providers to the sector and insurers. Our priority, however, is to support membership enquiries.

“Many brokers have shown their support for a strong independent broker representative, and voiced concerns with the heavy consolidation in the broker market.”

Mr Gow-Gates says the goal of Broker Co-op “is to provide only the services that our members want”.

“In this respect, when membership enquiries slow down we will survey members to assess their priorities and set the Broker Co-op services.

“We also plan to do this in a very cost efficient way to preserve more member funds for the services they need.”

Mr Gow-Gates said last week a new option for independent brokers is needed to fill a gap in the market, with the mandate of putting members first.

He says Broker Co-op will work as a co-operative, and participants will be shareholders within the group and pay no joining or annual membership fees. Membership applications must be endorsed by the Broker Co-op board.

Members will have access to a “full suite of cluster services”, through a partnership with AUB’s Insurance Alliance.

Interested independent brokers can apply to join Broker Co-op via the application form on the website before the end of July.