This funding will allow us to build on our mission of delivering actionable insights that empower organisations to make smarter, data-driven decisions.
The round was led by Simon Mabb, who brings valuable expertise and support to the business after 30 years in the insurance industry. Mabb is currently the head of UK regions at AssuredPartners.
Reflecting on his investment, Mabb said: "Insurance DataLab is addressing a real need for credible and accessible data in the insurance market. By providing clear and comparable insights, the platform helps insurers and brokers understand their performance and make strategic decisions that benefit both their businesses and their customers.
"In an environment shaped by challenges such as Consumer Duty, it is more important than ever for insurers to be transparent and accountable. Insurance DataLab enables its clients to identify areas for improvement and act on opportunities to deliver better outcomes for customers and meet regulatory expectations. This kind of innovation is essential for building trust and driving progress across the insurance market."
Our co-founders Matt Scott and Dan King are also pleased to welcome Robin Crumby and Julian Rose as investors. Their support reflects strong confidence in our vision and the value that we deliver to the insurance industry, and their experience in scaling intelligence businesses in other markets is set to be an invaluable asset to our growth.
Scott said: "This investment opens up exciting opportunities for us to enhance our insight platform with additional, more comprehensive datasets, and new features that will deliver even more value to our customers. These improvements will help our clients gain even greater insights and make better-informed decisions in an increasingly competitive market."
King added: "The insurance market is undergoing significant change, and the ability to adapt quickly based on robust data and insights is more important than ever. This investment will enable us to introduce new metrics and functionality, ensuring clients have the tools they need to stay competitive. We are committed to continuing innovation and supporting clients through the evolving challenges of the insurance landscape."
