The online health comparison provider and insurance broker ActiveQuote is creating 70 jobs as part of a £2 million expansion.
ActiveQuote, one of Britain’s fastest-growing FinTech firms, is investing the money to develop a cutting-edge online advisory platform with support from the Welsh Government.
This enhanced online comparison experience will use artificial intelligence to help customers through the quote process.
The investment has been supported with around £400,000 from the Welsh Government Growth and Prosperity Fund, ensuring the expansion and job creation takes place in Wales.
Economy Secretary Ken Skates said: “Three of the most prominent UK FinTech companies – GoCompare, Confused.com & MoneySupermarket.com – are indigenous companies headquartered in Wales, and ActiveQuote is a long-term partner of these Welsh business success stories.
“Wales has a growing reputation as a prime location for the FinTech sector and on a pan-European level, Wales is a key player and recognised as an exemplar for financial aggregator site technology.
“ActiveQuote is a strategically important and valued member of our FinTech cluster and has seen significant growth through continually investing and innovating. I am pleased that Welsh Government support will ensure ActiveQuote continues to grow here in Wales.”
Rob Saunders, Managing Director of ActiveQuote, said: “We are very grateful to the Welsh Government for its continued support in what we are aiming to achieve at ActiveQuote.
“This is a very exciting time in the world of FinTech, and ActiveQuote aims to be at the forefront of these developments.
“I joined the company two months ago and have been really impressed with the ambition and drive that our team has in leading the way for digital innovation in the insurance market.
“This investment means we can make our exciting plans of creating the next-generation of insurance comparison a reality.”
ActiveQuote began as a team of two back in 2009 and has been evolving its service for the digital world ever since.
It pioneered one of the first price comparison solutions for health insurance, providing accurate comparisons of policies and benefits that help customers find the cover that most closely meets their needs and budget.
It is now one of the UK’s leading comparison sites, and brokers mainstream insurance products including health, income protection, life insurance and critical illness, whilst its technology powers some of the UK’s leading price comparison websites.
In 2014, Welsh Government supported ActiveQuote by providing £600,000 of business finance to create 74 jobs at its Cardiff Bay headquarters.
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