Ignite sees ‘substantial increase’ in broker demand

Ignite Insurance Systems has seen a “substantial increase” in broker demand over the last year, according to managing director Toby MacLachlan.

MacLachlan told Insurance Times that the Insurtech 50 firm had seen additional demand after migrating personal lines broker clients from legacy systems.

These clients, which are mainly in the pet and motor insurance markets, have also placed numerous forward orders for 2024, MacLachlan said.

”Ignite has seen a substantial increase in broker demand,” he added.

“Brokers are looking for ways to drive policyholder growth without growing headcount – Ignite is establishing a persuasive record in achieving this for our clients.”

Recruitment

As a result of this extra demand, Ignite has increased its overall staff headcount by 40% in the last nine months.

The recruitment drive has focused on bolstering the business’ capabilities in three areas – new business, client support and research and development.

The firm said that as part of its recruitment strategy, it was encouraging women to consider a career in technology and insurance broking.

It highlighted that of those who have joined the company in the last six months, over a third (35%) were women.

“Bringing new talent and expertise into the business comes with its challenges, but will ultimately bolster our ability to drive further innovation and change across the market,” MacLachlan said.

”As we work with ever larger clients, it’s important that we continue to invest in experienced and high calibre people so that we can keep delivering for our new clients at pace.”

2024

Ignite was bought by Verisk-owned insurance software specialist Sequel in September 2021.

MacLachlan said being part of Verisk had given the firm more ”scale and resilience” and allowed it to ”keep pace with the demand for our system”.

And he felt confident that Ignite could deliver on larger projects in 2024 with its backing.

”We have already seen an increase in demand following the summer break and as brokers and insurers make growth plans for 2024, we see that trend continuing,” MacLachlan said.

”Ignite wants to make sure we can deliver on the deals we are signing, so with Verisk’s backing we are actively recruiting so we stay ahead of the curve and ready to deliver on ever larger projects.

”Ignite wants to rescue brokers and insurers from the clutches of legacy systems and we need to constantly reinvest in the best resources available to achieve that.”