the increased income, the company has raised its headcount to 30. It is the UK’s first searchable, independent platform for linking insurers and brokers.
The business was established by Fraser Edmond and Iain Croleformer, the former senior executives of Aviva. The company also increased the gross written premiums on its platform to £1 billion. After their success with 4J Studios, Chris van der Kuyl and Paddy Burn’s Chroma Ventures invested in Broker Insights.
Seven insurers such as Zurich, AXA, Hiscox, Markel, Ecclesiastical, QBE, and RSA and 150 brokers have registered on the Broker Insights network. The business, which is based in Dundee’s Water’s Edge, has improved from 17 to 30 employees in the last year, with new positions in software development, data science, and the commercial team.
Kevin Ord was appointed as chief operating officer in April to initiate plans for the company to prepare for its planned North American expansion in 2022. Its main emphasis is on introducing new product functionality to the platform, including the newly launched market management, which is a new product for large broker companies that enable them to license and customize the platform according to their specific needs. Broker Insights’ platform, by using automation, communication tools, and real-time data, aims to reduce the data gap between brokers and insurers, improve insurance product delivery and revenue, and reduce costs.
Chairman of Broker Insights,Chris van der Kuyl, highlighted the company’s US expansion. He said, “Broker Insights is one of the UK’s fastest-growing tech businesses with an opportunity to transform the global commercial insurance market – the next phase of major growth will be expansion into the US market”.
