Policy Expert, the digital insurer, has reached the landmark of 600,000 live home insurance policies, adding over 100,000 new policies in the last ten months.
The business enjoyed sustained growth in 2019, with highlights including its entry to the motor insurance market following the successful acquisition of Sure Thing! and the expansion of its rapid response capabilities to quadruple the size of its fleet to 22 first response vans each kitted out with exclusive, high-tech drying equipment which allows Policy Expert to reach 90% of customers within hours.
Looking to the year ahead, the business aims to complete the transformation and rebrand of Sure Thing! to align with Policy Expert’s operating model and brand.
Established in 2010, Policy Expert uses proprietary technology and advanced data science techniques to disrupt the general insurance market. The digital insurer offers clear and transparent policies, fair pricing and attentive customer service, which is underpinned by complete control of the end-to-end process from pricing through to claims.
Since inception, Policy Expert has become the UK’s fastest-growing and highest-rated home insurance provider and consistently achieves market-leading customer reviews. In recent months, its unique approach to disrupting the general insurance market has been recognised by the wider industry.
Policy Expert was named Customer Champion of the Year at the Insurance Times Awards in December 2019 and scored a hat-trick of award wins at the Insurance POST Creative & Innovation Awards earlier this year.
Adam Powell, Co-Founder and Chief Operating Officer at Policy Expert, commented: “In 2010 we started Policy Expert with the ambition of building an insurer powered by market-leading proprietary technology which would benefit the end consumer. A decade later, we are exceptionally proud of how far we’ve come as the fastest growing home insurer in the market and one of the UK’s top 20 home insurers, providing insurance to over 600,000 customers.
“We have bold plans to continue growing Policy Expert in 2020. Last year’s acquisition of Sure Thing! signalled our intention to expand into the motor insurance market and its transformation is progressing well. Our agile technology and lean operating model mean that Policy Expert is highly portable and scalable to new product lines and geographies, which will unlock multi-product benefits for our customers in the long run.
“On a personal note, I would like to thank all colleagues and partners who have contributed to Policy Expert’s success in the last decade. I’m looking forward to the next ten years together as we continue to provide a market-leading service for our customers.”