SchemeServe grew 15% in the last six months, which it says ”has been fuelled further by the race for brokers to reap the rewards of the Insurtech revolution.”
SchemeServe, a cloud-based provider of insurance software for schemes business, has reported significant growth in the last six months.
It has announced a recruitment drive because of unprecedented demand for insurtech services.
The news reflects figures released by Accenture in September showing that insurtech investment in the UK has surged to record levels, with cloud computing attracting the most investment.
In December 2017, a study by job search engine Joblift found that the number of advertised insurtech vacancies had grown almost a quarter (22%) on the previous year.
Insurtech deal activity across the UK has also jumped by 75% compared to the same point last year.
SchemeServe has grown 15% in the last six months and added a total 34 new brokers and insurers to its platform.
Adam Bishop, chief executive of SchemeServe comments: “It is fair to say that the growth of schemes business in the UK has been explosive since the development of cloud-based quote and buy software, and has been fuelled further by the race for brokers to reap the rewards of the Insurtech revolution.”
SchemeServe now operates 201 schemes and £150m of gross written premium.