Percayso Inform, an InsurTech company, has announced a 200% annual growth rate and is expected to continue growing in the future. Rich Tomlinson, Managing Director, joined the business in 2017 and the company launched its insurance intelligence service three years later. The goal was to help insurance providers adapt to fast-changing market conditions, gain competitive advantage, and write better business. Tomlinson explains that many challenges in the industry, including increased regulation and fraud, necessitate smarter use of data by insurance providers, which is where Percayso Inform comes in. The company provides unique, real-time solutions throughout the insurance lifecycle, going beyond traditional data enrichment to deliver insights into insurance risk.
One transformative move the company made in 2023 was the acquisition of Cazana, an online car retailer, focused on real-time valuations and pricing trends. The move was not part of the company’s original strategy, but Tomlinson says it was an opportunity that the company had to take. The acquisition allowed Percayso Inform to strengthen its services by bringing the Cazana platform under the Percayso banner.
Percayso Vehicle Intelligence, the relaunched proposition, has seen a surge of enquiries, leading to new clients and renewing contracts with existing customers. Tomlinson says the company plans to take their product development plans to full throttle, adding functionality within their SaaS platform Claims Companion and powering the API solution with additional datasets.
The company has raised £2.7 million funding last year and £3.4 million the year before. It currently has 35 staff and is growing at around 200% per annum. Tomlinson expects the company to have close to 100 insurance clients by the end of 2024. The company was ranked third on BusinessCloud’s InsurTech 50 ranking, which acts as a testament to the value the company is creating for the insurance industry. It also serves as a source of pride for the team, pushing them to aim for the top spot in 2024.
