Policy Expert targets £500m GWP as capacity deal announced

Personal lines insurtech Policy Expert has announced a new capacity deal with Bridgehaven.

The deal, which is expected to last until 2026, will see Bridgehaven and current provider Accredited work together to provide Policy Expert with equal capacity.

The capacity will also be used support the launch of the insurtech’s pet product.

Policy Expert is targeting £500m in gross written premium (GWP) through its deal with Bridgehaven.

Steve Hardy, executive chairman at Policy Expert, said: “We are so pleased to have Bridgehaven join Accredited in providing us with capacity for the next stage of growth.

“The addition of Bridgehaven alongside Accredited gives us a strong platform as we grow our existing products and launch into new product lines.”

Paul Jewell, chief executive at Bridgehaven, added: “We are delighted to agree this multiyear deal that delivers Policy Expert with a firm foundation from which to launch growth initiatives.”

Growth

The deal comes following a period of growth at Policy Expert.

For example, in September 2024, the company secured investment from international private equity firm Cinven to support its growth strategy and expansion plans.

In the same month, Policy Expert announced that it had surpassed 1.5 million customers for the first time.

Stuart McMurdo, president at Accredited UK and Europe, said: “Through this new co-insurance arrangement, we can further support Policy Expert’s existing market leading position, as well as its future development within UK personal lines, including into new areas such as pet.”