Broker Insights secures £6m in Series A funding led by Mercia to fuel US expansion.
Mercia led the Series A round with participation from Chroma Ventures and private backers.
Broker Insights operates a digital platform connecting commercial insurance providers with regional brokers. The software uses automation and real time data to streamline product distribution.
Broker Insights has raised more than £6m in a Series A funding round led by Mercia. Chroma Ventures participated alongside private investors from the UK and the US.
The capital will support platform development, accelerate domestic growth, and fund expansion into the United States. The company intends to double its workforce of 35 employees during the coming year.
The insurtech business provides a digital marketplace that links major insurers with regional brokers. It has seen gross written premiums on its platform exceed £1bn over the past year.
From the founder
"This investment is an endorsement of our success in building our platform, technology and team. Launched three years ago, we are now serving 12 per cent of the UK commercial insurance market; we have established that our platform delivers results for our customers and is attracting significant and growing demand from brokers and insurers alike."
Fraser Edmond
Chief Executive at Broker Insights
Investor perspective
"The commercial insurance market has continued to operate in a very traditional way, with client-facing teams travelling around the UK to build relationships with brokers. By bringing them together online to do business, Broker Insights offers the opportunity to remove friction and cost, and improve the experience for all concerned."
Hugo Lough
Mercia
Use of funds
- 01Continue product development
- 02Expand into international markets
- 03Grow the team
Investors
Categories
About the company
Broker Insights
Digital platform transforming the commercial insurance market.