Yutree recently made the decision to retain full ownership of its organisation, marking a clear step in its strategy to maintain control over its future direction.
Speaking on the factors considered when making this decision, Hancock said: “We considered the future for our clients, colleagues, and partners when deciding which path to take. Yutree has a strong reputation, and an amazing foundation upon which to build, with several strategic opportunities to execute. A trade sale would have been a significantly different outcome for everyone involved... we are definitely not done with the Yutree story.”
Read more: Yutree opts for autonomy over sale
This autonomy provides the flexibility needed to fuel its expansion plans.
Hancock continued: “In terms of our long-term strategy, this decision means that you will see Yutree growing a stronger presence in East Anglia, with an office in Norwich… we have ambitious growth targets which we will achieve through a combination of operational efficiencies, new partnerships, new products, and new people.”
Following the management buyout, Yutree is poised to continue its organic growth.
Hancock emphasised: “Our underlying business has grown organically over 13 years... Continuing to do what we have always done will underpin the next few years. In addition, we will focus on our new location... and building our client base there with the strong connections that both Kevin and I have in Norfolk.”
She added: “We are developing new products in our underwriting business... and we are excited for this next phase of growth. It is going to be a busy few years.”
In addition to expansion and product development, technology is central to Yutree’s future plans.
According to Becky Glover, Yutree’s director of finance and technology: “There is enormous opportunity for technology to positively transform insurance broking and underwriting, and we’re excited to be leading the way. Our initial focus is on streamlining workflows through intelligent automation, freeing up our team to spend more time on high-value, client-facing activity.”
Glover continued: “On the client side, we’re enhancing our digital interfaces to make it quicker and easier for brokers and policyholders to interact with us - whether that’s obtaining a quote, renewing a policy, or accessing documents. We’re also exploring AI-driven tools to support underwriting decision-making, always keeping humans in control.
“We’ll soon be announcing our first technology partnership, with many more to follow.”
Yutree is one of many insurance brokers moving towards a tech-focus.
According to a 2024 study by Houlihan Lokey, “Technology adoption has accelerated, with brokers integrating digital platforms, data analytics, and AI tools to enhance customer experience, streamline operations, and offer personalised insurance solutions.”
According to PKF “the UK broker market controls about a quarter of brokers by number and 33% by revenue.”
Despite the broader challenges of an evolving insurance landscape, Yutree sees its independence as a strategic advantage.
Hancock explained: “It allows us to stay agile and responsive... our autonomy means we’re not tied to any single provider or limited by group mandates... Unlike larger consolidators, we more than make up for it with our ability to move quickly, access every corner of the market, and remain wholly transparent.”
