Broker Insights’ VISION platform now uses AI and data insights to help brokers identify businesses with gaps in product coverage – in particular cybersecurity or management liability insurance – and quickly quote and bind a policy. The move will not only help brokers to increase revenue, but could also increase uptake of cybersecurity insurance which currently stands at just 2.8% of businesses, according to Broker Insights’ figures.

Founded in 2018 by two former insurance executives, Broker Insights is backed by Mercia Ventures and Chroma Ventures. Its VISION platform, the first of its type for the commercial insurance market, connects brokers with insurers such as AXA and Hiscox to help them understand underwriters’ requirements and choose the right policies for their clients.

The company provides data analytics and insights for the commercial insurance sector, and has handled £7bn of gross written premiums (GWP) in the UK, representing over 40% of the commercial insurance market, and a further £3bn overseas. The business now employs around 60 staff.

Peter Scott, CEO of Broker Insights, 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.”

Jan Oosthuizen of Mercia Ventures added: “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.”