Broker Insights, a Dundee-based InsurTech specialising in data-driven commercial insurance distribution, has unveiled the latest version of its VISION platform, as it looks to reshape the commercial insurance sector.
By using artificial intelligence and advanced data insights, the updated VISION platform helps brokers identify businesses with gaps in product coverage, notably in cybersecurity and management liability insurance, and enables them to quote and bind policies more quickly, according to Scottish Financial News.
Broker Insights believes this will not only help brokers grow revenues but also drive wider adoption of cyber insurance, which the firm estimates currently covers just 2.8% of businesses.
Founded in 2018 by two former insurance executives, Broker Insights develops technology that connects brokers and insurers through shared data and insights. The company is backed by Mercia Ventures and Chroma Ventures and has positioned itself as a specialist provider of analytics for the commercial insurance sector.
At the heart of the business is VISION, which Broker Insights describes as the first platform of its kind for the commercial insurance market. The system connects brokers with insurers such as AXA and Hiscox, helping intermediaries understand underwriters’ requirements and select the most appropriate policies for their clients based on real-time data.
Beyond product development, Broker Insights has achieved significant scale in the market. The company has handled £7bn of gross written premiums (GWP) in the UK, representing more than 40% of the commercial insurance market, alongside a further £3bn overseas. Its growing international footprint is supported by a team of around 60 employees.
The latest platform release also aligns with the company’s broader growth ambitions, including expansion in the US and acceleration of its internationalisation strategy. The focus on AI-driven product innovation reflects increasing demand from brokers and insurers for data-led distribution models that can improve efficiency and customer outcomes.
Broker Insights CEO Peter Scott said, “The launch of this latest version of VISION reflects the next phase of our growth strategy.
“As we expand our footprint in the US and accelerate our internationalisation plans, we are building a platform with truly global potential. The investments we are making in product innovation today—combined with growing demand for data-driven distribution across brokers and insurers—position us for sustained long-term growth.”
Mercia Ventures investor Jan Oosthuizen said, “The latest launch further demonstrates how it is leveraging its deep sector knowledge to allow its customers to drive value through data-led decisions like never before.”
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