Simply Business is leading the way in transparency in the insurance industry.
The UK’s favourite small business insurance broker is taking the unprecedented step of publishing new data outlining requests for customers’ insurance details from public bodies and other insurers.
The data, which will be published annually, provides details of requests made by organisations like the Health and Safety Executive and local councils. Simply Business is the first insurance broker in the UK to take this step.
Simply Business General Counsel Arvinder Mangat said: “We understand that you want insurance to be transparent. In our Manifesto we pledge to be honest and up front, and never to hide behind jargon. As part of that pledge, every year we will publish a Transparency Report detailing the number of requests for insurance details made by third parties.
“There is a range of reasons why public bodies or other insurers might request these details. Councils might need to check that businesses have the right cover, the Health and Safety Executive might want to make sure that you are properly insured or, occasionally, Trading Standards officials might need to check your policy as part of an investigation. We are obliged to provide those details, but we will always be transparent about when this has happened.
“Below you can see a breakdown of the requests we have received since January, along with details of who asked for the information. If you have any questions about this data, please feel free to give us a call.”
About Simply Business
Launched in 2005, Simply Business provides an online brokerage service delivering policies tailored to individual business requirements. It has a team of UK based insurance specialists and employs almost 300 people across offices in London and Northampton.
Simply Business provides insurance to more than 400,000 UK SMEs and landlords and owing to its internal underwriting capability can cover over 1,000 trade types. It has been a Sunday Times Tech Track 100 company for the past three years and was recently named in the Deloitte Technology Fast 500 EMEA. Revenues have grown from £4.2 million in 2006, to £25.4 million in 2014, and the company has been named 2015 and 2016 winners of The Sunday Times’ Best Company to Work For.