Broker Insights, a leading data analytics and market insight company operating in the commercial insurance sector, has been recognised as one of the fifty fastest growing companies in Scotland. This is part of the Fast Growth 50 index for 2023, which identifies the fifty fastest-growing companies across six nations and regions, including Scotland. This achievement underlines Broker Insight’s significant impact on Scotland’s economy and its capacity for growth and innovation.
About the Fast Growth 50
The Fast Growth 50 is an annual index that identifies the top 50 fastest-growing companies in six nations and regions, including Scotland. This year’s index for Scotland has highlighted businesses from multiple sectors that together generated a turnover of £891 million, at an average growth rate of 134 percent, with the creation of nearly 2,488 jobs last year.
Being part of the Fast Growth 50, Broker Insights has shown strong performance and made a positive contribution to Scotland’s business community.
Professor Dylan Jones-Evans OBE, Founder Fast Growth 50 said:
“The UK Fast Growth 50 Index demonstrates that a small number of fast growth firms, such as Broker Insights, make a substantial contribution to the UK’s economic landscape, providing real examples of how innovation, enterprise and sheer hard work can make a real difference in all sectors from construction to financial services to technology.
“Their incredible growth during difficult times shows that through generating wealth and jobs in their local communities, entrepreneurship is the cornerstone of regional and national prosperity. Most important of all, their success stories demonstrate the impact of ambition and adaptability, providing a blueprint for sustainable growth that will hopefully inspire others to follow a similar journey.”
This year’s Fast Growth 50 Scotland list is in partnership with UBS, the world’s leading and truly global wealth manager.
Mark Goddard, Head of UK Regions at UBS Global Wealth Management said:
“Business owners and entrepreneurs are the engine of our economy, and UBS has a long history advising and connecting them on each stage of their wealth journey, helping them to unlock their potential. Led by entrepreneurial spirit and often solving some of the UK’s biggest issues, the level of talent and innovation uncovered through this year’s list shows that more needs to be done to support small businesses to strengthen local economies and give back to the local community. As the lead sponsor of this year’s Fast Growth 50, UBS is looking forward to following and supporting these businesses as they go from strength to strength.”
Fraser Edmond, CEO of Broker Insights, commented:
“We are delighted to have listed amongst the fifty fastest growing businesses in Scotland. We are also very proud to have been shortlisted in the ‘Disruptor of the Year’ and ‘Innovation Excellence Award’ categories at the inaugural Scotland Fast Growth 50 Awards.
“Broker Insights will strive to maintain our growth trajectory and further develop our market-leading data analytics and market insight propositions for the UK and US commercial insurance industry.
“Our UK regional broker proposition recently surpassed 20% market share, and the growth of our large broker proposition has seen the total Gross Written Premium figure surpass the £5bn milestone.
“Looking forward, growth will also focus heavily on the US market, as we continue to build our team and scale our US proposition.
Contribution to Growth and Job Creation
During 2020 to 2022, Broker Insights was instrumental in the Fast Growth 50’s collective turnover increase of £510 million, while also creating over 30 new jobs. This highlights the company’s role in Scotland’s economic growth, particularly post-COVID-19.
Diverse Range of Businesses
The Fast Growth 50 features companies from various sectors, adding to the diversity of Scotland’s economy. Broker Insights, with its focus in the commercial insurance sector, is part of this varied business landscape.
What’s Next for Broker Insights
Looking forward, Broker Insights will continue to extend its market reach, as more regional brokers, large brokers, and insurers seek to realise the benefits of data-led decision making and efficient information workflows.
The company will also continue to expand operations in the US, with further developments of a tailored offering for the USA marketplace.
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