Dundee-based insurtech company Broker Insights has officially launched its Vision platform in the United States, extending its innovative broker-insurer connectivity platform to all 50 states. Tailored for the US market, the platform’s launch follows extensive research and collaboration, during which Broker Insights analyzed nearly $1 billion in gross written premiums (GWP) to ensure its relevance and effectiveness for American brokers.
Founded in 2018 by former Aviva executives Fraser Edmond and Iain Crole and backed by Mercia Ventures and Chroma Ventures, Broker Insights is now led by CEO Peter Scott. Its Vision platform has facilitated £5.5 billion of GWP, representing over a third of the UK commercial insurance market, and is projected to reach £6 billion by year-end. With 60 employees, the company’s rapid growth positions it as a significant player in the industry.
Fraser Edmond, President and co-founder, emphasized the value of the Vision platform: “An average broker only engages with around half of their insurance carriers, making it challenging to determine the best options for clients and the brokerage. The US commercial insurance market presents significant growth potential for Broker Insights, and the Vision platform is designed to meet this need, while also delivering cross-market insights to our UK partners.”
Hugo Lough of Mercia Ventures commented, “Since our initial investment in 2021, Broker Insights has seen a four-fold increase in GWP and developed the UK’s largest dataset of its kind. Expanding into the US aligns with the company’s goal to become the knowledge centre of the industry and a global leader in commercial insurance innovation.”
This expansion solidifies Broker Insights’ position in the global market, offering both UK and US brokers enhanced data-driven insights and connectivity.
Similar News:
Nymbus and PeoplesBank Launch New Employer-Focused Financial Solutions