Simply Business - the trading name of Xbridge Ltd - is an online broker of business insurance with over 450,000 customers. The company has been featured in the Sunday Times Tech Track 100 four times and in 2015 and 2016 won The Sunday Times 100 Best Companies to Work For.
In March 2017 it was announced that The Travelers Companies lead by Alan Schnitzer agreed to acquire Simply Business from Aquiline Capital Partners LLC for an enterprise value of approximately $490 million with a successful completion of the deal made in August 2017.
Video Simply Business
History
Xbridge was founded in 2000 by Brad Liebmann, Ralph Arnold, Deno Fischer and Jim Nelson, who provided £1 million in seed capital. The company experimented with a variety of ventures, including building an online marketplace for lending to small businesses.
In 2005, under the founding guidance of Tony Deacon and Chris Slater and Arvinder Mangat, the company chose to specialise in small business insurance, launching an online quote comparison service under the Simply Business brand. In the same year, the company opened its customer care centre in Northampton. Lead at the time by Karen Knowles[3]
Jason Stockwood, formerly UK and International Managing Director of match.com, joined the company as CEO in May 2010.[4]
In 2011, Simply Business signed a white label deal with moneysupermarket.com and became their exclusive provider for business insurance.[5] In the same year, the company adopted the Agile software development methodology.[6]
In August 2012, the company celebrated its 200,000th customer.[7]
In July 2013 it was announced that the company had completed a management buy-out backed by the private equity firm AnaCap Financial Partners LLP.[8]
In February 2015 Simply Business was voted first in The Sunday Times 100 Best Companies To Work For.
Simply Business went on to win The Sunday Times 100 Best Companies To Work For 2016 with Jason Stockwood, Group CEO of Simply Business also scooping the award for the 'Best Leader' award at the ceremony.
Jason Stockwood is known as the pioneer of an empowering leadership style and people-focused culture.
The internal mission within Simply Business is to Create Something Better, brought to life through internal Hackathons, active charity engagement and Build-Measure-Learn principles.
Simply Business were previously a sponsor of the Start-Up Awards.
In January 2016 Simply Business announced Whizz-Kidz as their official UK charity partner with a £150,000 3 year fundraising goal.
In December 2016, Simply Business USA was launched with offices in Boston, Massachusetts.
In March 2017, The Travelers Companies entered into an agreement to purchase Simply Business for $490m. In August 2017 the deal was completed
"Technology is driving significant change in our industry, and the knowledge, capabilities and talent that Simply Business has developed over more than a decade will contribute meaningfully to advancing our digital and innovation agendas to best serve our customers and the marketplace," said Alan Schnitzer, Chairman and Chief Executive Officer of The Travelers Companies.
In June 2017 Simply Business were B Corp accredited for maintaining the highest standards of social & environmental impact.
Maps Simply Business
Products
The company provides insurance online to small businesses, landlords and the self employed - products include public liability insurance, professional indemnity insurance, employers' liability insurance and landlords insurance.
The insurers on the panel include AXA, Hiscox, Ageas UK General, Covea, NIG, Aro, Sherwood, AIG, LV=, Modus and Arag.
Simply Business created its own managing general agent brands Finsbury, Maltings and Chiswell Insurance, which are underwritten by AXA and Great Lakes.
Awards
- Winner of Insurance Provider of the Year at the British Small Business Awards 2017
- Winner of the Ruban d'Honneur in the European Business Awards 2017.
- Winner of The Sunday Times Best Companies To Work For 2016.
- Winner of 'Best Leader' Jason Stockwood CEO at The Sunday Times Best Companies To Work For 2016.
- National Champion at the European Business Awards 2016.
- Winner of Finance Team of the Year at the Business Finance Awards 2016.
- Winner of Data Champions of the Year at the Insurance Marketing & PR Awards 2016.
- Winner of Team of the Year at the National Quality & Customer Experience Awards 2016.
- Winner of The Sunday Times Best Companies To Work For 2015.
- Simply Business featured in the Sunday Times Tech Track 100 in 2008, 2009, 2010 and 2011.
- Winner of 'Best use of Mobile Technology' at the Technology in Insurance Awards 2012.
- Commended for 'Best use of Social Media' at the Technology in Insurance Awards 2012.
- Commended for 'Outstanding Broker Claims Team of the Year' at the Insurance Times UK Claims Excellence Awards 2012.
- Winner of 'Marketing Campaign of the Year' at the UK Broker Awards 2012.
- Winner of 'Most Agile Aware Organisation' at the UK Agile Awards 2011.
- Winner of 'Young Broker of the Year' at the UK Broker Awards 2011
References
External links
- Simply Business UK website
- Simply Business USA website
- Xbridge Limited is trading as Simply Business
Source of article : Wikipedia
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