Liverpool insurance tech company secures major investment
vast:visibility has secured what it describes as a major investment from HgCapital.
The Liverpool-headquartered technology company has worked with high-profile financial services brands such as Confused.com and Admiral.
The deal forms part of a platform of UK general insurance investing that was initiated by HgCapital through the acquisition of A-Plan Insurance in 2015. HgCapital also has prior experience of financial technology investing through its ownership of Sequel Business Solutions, Intelliflo and Relay Software, all companies serving the European insurance and asset management market.
Founded in 2006, vast:visibility has grown to provide the technology that underpins insurance quote aggregators for brands including the Bike Insurer, the Van Insurer, mustard.co.uk, Confused.com, Asda, Autotrader, Admiral and MCN. It uses custom-built software and aggregation platforms to gather data, interpret and understand user behaviour and convert traffic into revenue for clients.
In September 2016, vast:visibility.com hired former Gocompare.com chief executive Jon Morrell as its new chief executive.
Max Carruthers, chairman of vast:visibility, commented: “This investment is another significant step forward for the business and follows hot on the heels of Jon Morrell’s recruitment in September as the company’s new CEO.
“The investment will further enhance the business’ capability to deliver not only the core aggregation journeys that it has been commended for but also an exciting suite of innovative digital solutions including data enrichment, analytics, fraud detection and advertising platforms to the wider market. vast:visibility will continue to drive technology-led efficiency within the insurance sector, improving both user experience and insurer operations.”