Broker Insights Raises Over £6M in Series A Funding

Broker Insights

Broker Insights, a Dundee, UK-based provider of a digital platform for the commercial insurance market, raised more than £6m in Series A funding.

The round was led by Mercia with participation from Chroma Ventures, alongside a group of private UK and US investors.

The company intends to use the funds to further develop its platform, accelerate UK growth and launch in the US in line with its plans to become a global leader in its field.

Founded in 2018 by former Aviva senior executives Fraser Edmond and Iain Crole, Brokers Insights provides a platform that enables insurers to distribute their products to regional brokers through automation and collaboration tools. It also provides real-time data to give them insight into companies’ insurance requirements.

The company, which currently employs 35 staff at its headquarters in Dundee, expects to double its headcount in 2022, with the majority of new jobs in Scotland.

Its platform now connects insurers such as AXA, RSA, Zurich, QBE, Travelers, Markel, and Hiscox with over 160 brokers.