London-based InsurTech Wrisk has reported a profitable first half of 2024 with an impressive 219% year-on-year revenue growth.
The company, who joined the InsurTech Corridor program in 2022 and is recognized for its independent embedded insurance technology platform serving the automotive OEM sector, has increased its annualized gross written premium to over £60 million, while its annualized revenue run rate has tripled year-over-year.
Growth has been driven primarily by new partnerships with major brands Volvo and Jaguar Land Rover, joining Wrisk’s existing clients, including BMW and Mini. With this momentum, the company is on track to exceed its 2024 financial targets across Europe.
The company has also strategically expanded its team, adding 30 new hires across all departments, and increasing its UK workforce by over 40% in 2024. Key appointments include Anthony Foster from Zego as Director of Insurance, Chris Harden as Director of Technical, and Dr. Mark Lee as Director of Pricing and Actuarial Services.
These leadership additions reinforce Wrisk’s insurer partnerships and strengthen its technical operations infrastructure. Niall Barton, co-founder of Wrisk, noted the significance of the senior hires, who bring confidence and experience to Wrisk’s European expansion.
