Insurance DataLab, a UK-based market intelligence platform, has successfully completed its first funding round, securing an investment to strengthen its offerings and drive innovation.
The funding round was led by Simon Mabb, who currently serves as the head of UK regions at AssuredPartners. Mabb highlighted the platform’s role in promoting transparency and accountability in the insurance market.
“Insurance DataLab is addressing a real need for credible and accessible data in the insurance market,” Mabb stated. “In an environment shaped by challenges such as Consumer Duty, it is more important than ever for insurers to be transparent and accountable. Insurance DataLab enables its clients to identify areas for improvement and act on opportunities to deliver better outcomes for customers and meet regulatory expectations. This kind of innovation is essential for building trust and driving progress across the insurance market.”
In addition to Mabb, the round attracted contributions from investors Robin Crumby and Julian Rose. Matt Scott and Dan King, co-founders of Insurance DataLab, expressed enthusiasm for the opportunities enabled by the investment. Scott emphasised plans to enhance the platform’s capabilities, including the introduction of more comprehensive datasets and advanced features.
“This investment opens up exciting opportunities for us to enhance our insight platform with additional, more comprehensive datasets, and new features that will deliver even more value to our customers,” Scott said. “These improvements will help our clients gain even greater insights and make better-informed decisions in an increasingly competitive market.”
King added, “The insurance market is undergoing significant change, and the ability to adapt quickly based on robust data and insights is more important than ever. This investment will enable us to introduce new metrics and functionality, ensuring clients have the tools they need to stay competitive. We are committed to continuing innovation and supporting clients through the evolving challenges of the insurance landscape.”
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