Simply Business

Simply Business - the trading name of Xbridge Ltd - is an online broker of business insurance with over 600,000 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.

Simply Business
TypePrivate
IndustryInsurance
Founded2005
HeadquartersLondon, United Kingdom
Key people
David Summers (Group CEO)

Jason Stockwood (Vice Chairman) Fiona McSwein (COS)

Alan Thomas (CCO) Lukas Oberhuber (CTO)
ProductsBusiness insurance, Shop insurance and Landlord insurance
Revenue£57 million (2017)
Number of employees
500
Websitewww.simplybusiness.co.uk www.simplybusiness.com

In March 2017 it was announced that The Travelers Companies led 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.[1]

History

Xbridge was founded in 2000 by Brad Liebmann, Ralph Arnold, Deno Fischer and Jim Nelson, who provided £1 million in seed capital. In 2005 the company chose to specialise in small business insurance, launching an online quote comparison service.

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]

Products

The company provides insurance to the self employed, small businesses and landlords. Products include public liability insurance, professional indemnity insurance, employers' liability insurance and landlords insurance.

The insurers on the panel include Ageas, AIG, Arag, AXA, Churchill, Covea, Hiscox and Zurich.

Simply Business established its own managing general agent brands Finsbury, Maltings and Chiswell Insurance, which are underwritten by AXA and Great Lakes, a subsidiary of Munich Re

Charity

In January 2016 Simply Business announced Whizz-Kidz as their official UK charity partner with a £150,000 3 year fundraising goal.[2]

Whizz-Kidz Charity Bike Ride 2016

This fundraising milestone was reached 6 months early in July 2018.[3]

In June 2017 Simply Business were B Corp accredited for maintaining the highest standards of social & environmental impact.[4]

In the same month Simply Business became headline sponsors of The England Amputee Football Association.[5]

The England Amputee Football Association

In October 2018 an Internal Hackathon and 48 hour PR campaign led to national press attention[6] for the EAFA and the promise of additional funding from the Football Association. In 2018 over £55,000 was raised for the EAFA by Simply Business.

Technology

Simply Business featured in the Sunday Times Tech Track 100 in 2008, 2009, 2010 and 2011 and has won numerous awards for their pioneering use of data and technology.[7]

Culture

Simply Business won the Sunday Times Best Company To Work For 2015 & 2016.

In November 2016 Simply Business signed the Women In Finance Charter and a commitment to a key series of measures to show positive change.[8]

Awards

References
  1. "Travelers Completes Acquisition of UK-Based Simply Business". Retrieved 2017-08-09.
  2. "Whizz Kidz press release".
  3. "Instagram photo link".
  4. "B Corp press release".
  5. "England Amputee Football Association Website".
  6. "Guardian article".
  7. "Sunday Times Tech Track". Fast Track. Retrieved 2012-09-17.
  8. "women in finance page".
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