£2.7m Raised – what next for Konsileo?

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You may have already seen in the insurance press, via social media or through the grapevine that Konsileo has secured £2.7m in our latest funding round from Belgravia-based technology investor Committed Capital.

In an interview with content editor Jonathan Swift of Insurance Age John describes where the idea came from, and how Konsileo started to ‘disrupt insurance broking’:

“We looked at the market and realised there is an opportunity to create a different type of broking firm, but we could not do it with the prevailing technology that the software houses offer, so we had to build our own.

“And when we started working on it and we soon realised that hitting the ball out of the park in insurance terms is definitely very possible. So we weren’t super scared about building our own broking platform, and what we now have is a fundamentally better – data-enabled – proposition than what is already out there.”

The next 18-24 months will see us scaling up our business, with the aim to recruit 25 commercial brokers around the UK setting up regional hubs, where key advantages to brokers of our operating model include: “the chance to keep more of what they earn, work flexibly and save up to around 60% of the time they would usually waste on admin. They have the opportunity to work at home or in an office, and they can team up with mentors and specialists to boost career development.” Insurance Business Magazine.

Committed Capital chief executive, Steve Harris said: “We believe that the commercial insurance market is ripe for disruption. Konsileo’s plan to use technology to transform the economics of insurance broking by focussing on the needs of advisors and clients is a recipe we have seen work very well in other markets.”

Committed Capital shareholder and board member Judy Welch, who joins Konsileo’s board, added: “Konsileo has the opportunity to be a true disrupter and the potential to challenge the major players. I look forward to working closely with John and the team as their growth accelerates.”

If you are a commercial lines broker looking for your next career step, take a look at our latest job ad and apply here or email Laura.smith@konsileo.com for a confidential chat and to find out more about being a Konsileo commercial insurance broker.

Thanks also go to the following helping us spread the great news!

Insurance Post

Insurance Times

Insurance Insider

BQ Live


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