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UK-based insurtech firm Uinsure has secured an undisclosed funding from personal fairness firm Lloyds Growth Capital (LDC).
Specialising in connecting monetary intermediaries and lenders with main UK insurers, Uinsure leverages a cloud-based platform to simplify the insurance coverage course of for its clients.
Over the previous decade, Uinsure is claimed to have recorded a compound annual income progress of 27%.
The backing from LDC will assist Uinsure additional enhance market share, discover new markets, and broaden its community of partnerships with intermediaries, main constructing societies, and banks.
Lately, Uinsure has enhanced its expertise capabilities, together with the event of recent utility programming interface (API) integrations, buyer expertise enhancements, and a sophisticated pricing engine.
The corporate additionally doubled its expertise staff headcount throughout the final two years.
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Uinsure CEO Simon Taylor mentioned: “Proper from the very first assembly, LDC has been aligned with our imaginative and prescient to take away the complexity of insurance coverage for our companions and their clients. After we began in search of an investor to help us by way of our subsequent section of progress, discovering the fitting companion who shares our tradition was extraordinarily necessary to us.”
“The staff at LDC will likely be working carefully to strategically help us with our long-term targets, as we discover new markets and develop our community of partnerships.”
LDC companion within the North West Aziz Ul-Haq mentioned: “Uinsure’s latest large-scale funding in its expertise means it’s completely positioned to serve its goal market by providing a digital-first resolution with a aggressive edge.
“It has a extremely skilled and extremely bold administration staff whose providing has disrupted the trade and revolutionised the market. We’re wanting ahead to working with them to assist it develop additional.”
In January 2021, Covéa Insurance coverage joined Uinsure’s adviser platform, becoming a member of the likes of AXA, Ageas, and UK Common.
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