A Swansea-based commercial insurance comparison platform has accelerated growth by 60% after investing in new technologies.
Compare Insurance, founded by serial entrepreneur Mark Thomas in 2009, enables SMEs to compare business insurance solutions from more than 100 commercial insurance providers, including Allianz, Zurich and AXA.
The company has invested in an advanced tech stack, including AI-generated analysis of all interactions with clients, which allows it to drive dynamic, real-time pricing. A dedicated team of data analysts has also joined a growing team of more than 40 commercial insurance specialists who support more than 14,000 SMEs each year.
Mark Thomas, Founder and Director of Compare Insurance, said:
“Over the last 15 years the Compare Insurance team and I have worked incredibly hard to build one of the UK’s leading comparison platforms for commercial insurance, while ensuring our customer needs remain central to everything we do.
“By investing in new and advancing technologies we have been able to not only improve our service offering but also increase the number of enquiries we receive, which has really accelerated growth over the last year. This not only cements Compare Insurance as a leading commercial insurance brokerage, but also reinforces our dedication to customer service as affirmed by our near 5-star customer rating as verified by review platform, feefo.”
In 2023 the commercial insurance comparison platform increased its income to more than £3 million, of which more than £1 million was new business. Compare Insurance is forecast is to scale growth by a further 50% during 2024.
