It looks like disruptive broker Simply Business, which was valued at $490 million last year, has no plans of slowing down.
Having grown to a workforce of nearly 500 people since launching in 2005, the insurtech is keen to add to its current customer base of more than 425,000 – announcing a long-term partnership with one of the leading price comparison websites in the UK. With offices in London, Northampton, and recently Boston, Simply Business is poised to tap into new territories with the help of ComparetheMarket.
“At Simply Business we’re constantly challenging ourselves to create something better for our customers – whether that’s through the innovative use of new technologies, harnessing the power of data, or building on our existing insurance expertise,” said David Summers, UK CEO at the online broker.
“With our unique proposition, we’re able to offer customers simplicity, flexibility, and choice,” he noted. “Working with ComparetheMarket will help us to provide even more customers with this choice and flexibility – empowering small business owners to find the policy that is right for their needs.”
No further details of the tie-up have been provided, but it’s the latest in a series of strategic partnerships aimed at expanding Simply Business’s portfolio and reaching more customers.
Its new partner, meanwhile, is also eyeing expansion.
“We have strong aspirations to grow our business and landlord insurance offerings and are therefore delighted to announce this partnership with Simply Business,” commented ComparetheMarket head of SME products Will Douglas.
“We are seeing an increasing demand from the millions of small business customers to purchase their insurance online and so with ComparetheMarket’s brand and distribution capabilities, together with Simply Business’s dedication to delivering great customer outcomes, it creates an exciting combination.”
