Policy Expert reaches policyholder milestone

Personal lines insurtech Policy Expert has surpassed 1.5 million policyholders for the first time.

The firm achieved the milestone after increasing its total business customer base by over 100,000 last year.

The rise has resulted in growth for the firm, with new policy sales and total sales increasing 45% and 51% since May 2021.

“We are incredibly proud of Policy Expert’s ongoing success and hugely motivated by the fact more than 1.5 million households now put their trust in us to protect what matters most to them,” Policy Expert executive chair Steve Hardy said.

“We’ve always believed there’s a gap in the market for a progressive insurance business that can surpass customers’ expectations by acting differently and getting things done effectively.”

Talent investment

To aid the business’ growth, Policy Expert has added 495 new team members to its offices in London – taking the insurtech’s total workforce to 986 people.

The business expects to increase its employment to 1,000 people “soon”, as it recruits for specialist data roles and works to attract new capacity in data engineering and counter-fraud analysis.

Hardy said Policy Expert was “continuing to invest” in its people and technology as the business pursues its growth plans and brings the “benefits of progressive insurance to more households across the UK”.

He added: “Whether it’s saving customers money when they switch or taking the strain off them in times of need, we’re focused on clearing obstacles out of their way and delivering the kind of service and support they can rely on.

“It’s especially encouraging that, across all our customer base, some of our strongest advocates are those who’ve made a claim and experienced our help first-hand.”