There are thousands of insurance products out there, and that’s just in the UK. From Home to Motor, Healthcare to Commercial, innovation and evolution is going on in the background all the time as the UK’s insurtech sector gets busy thinking up new solutions.
But although it’s quicker than ever to bring new insurance offers to market, now down to days, rather than months as it was just 6 or 7 years ago, every product needs great distribution. Targeted partnerships bring results – fact. So companies that can work this process are in demand, here’s the latest results from IS2 who are doing the distribution job digitally;
IS2, the digital distribution platform (DDP) solutions provider, has announced 40% growth in the first half of the 2024 financial year, which ended in June. It is on track to hit its original 2025 revenue target at the end of this year, 12 months ahead of target. It has seen revenue growth of over 140% in the last 3 years.
IS2’s growth has been driven by market demand for enterprise solutions and thanks to its unique position in the market; independent and debt free it offers the comfort and expertise of a 25 year heritage and stellar client list, combined with continual R&D investment.
IS2 has continued to maximise existing opportunities and has also reaped the benefits of a continued programme of reinvestment in the business and its technology. It has driven value from winning new clients and supporting existing leading insurer clients, in creating new ways of increasing their distribution, whether through direct API integrations, direct-to-consumer, or through brokers and affiliates. In the last 6 months, IS2 has also won and been shortlisted for a number of leading industry awards.
Simon Pritchard, Managing Director of IS2, comments: “I’m delighted with these results. The last 18 months have exceeded all expectations. Demand for high quality digital platforms for the enterprise has never been higher, especially for those providers who can demonstrate consistent delivery, domain expertise, innovation and a strong track record. More and more digital first insurers and MGAs look for assurances that their software partners are chosen for the quality and design of the underlying architecture and technology, which has really played to our strengths.”
IS2 is an independent digital trading and distribution platform for the schemes market. It is cloud native, API led. Established in 1996, it has been delivering innovative digital solutions for Insurers, Insurtechs, MGAs and Brokers for nearly 30 years. It is one of the only platforms to offer hosted pricing for niche schemes. Profitable and growing it has established long term partnerships with a number of leading insurers. IS2 offers a seldom found combination of technology that has benefited from continual R&D, together with a long pedigree, heritage and proven track record of supporting its clients in achieving their digital ambitions.
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