Insurance technology startup Broker Insights says it is gearing up for expansion following a successful year of trading.
The Dundee-based firm announced today it has doubled revenue to £2.25 million in its second year of trading.
The firm’s platform connects leading insurers, including AXA, Hiscox and Zurich, with over 150 brokers across the UK.
Fraser Edmond, CEO and co-founder of Broker Insights, said: “We have experienced accelerated adoption of the platform in the UK over the last twelve months as the industry has seen the benefits of this new digital route of engagement between insurers and brokers.”
Over the last twelve months, headcount has increased from 17 to 30 at Brokers Insights, with new positions added in software development, data science and the firm’s growing commercial team.
In April, the firm also revealed the appointment of Kevin Ord as Chief Operating Officer. He has been brought on board to guide the insurance tech startup as it prepares for expansion into North American markets next year.
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Ord has a track record in transforming and growing technology organisations, having previously held positions in equity-backed companies in the software, ecommerce and digital marketing sectors.
Looking ahead, Fraser Edmond said the company is currently focused on “rapid scaling” and intends to add a host of new product features to the platform.
Chris van der Kuyl, Chroma Ventures Principal and Broker Insights chairman, 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.”