Insurtech eviid boosts its line-up and footprint

Emerging firm enjoys "highly successful" fourth quarter

Insurtech eviid boosts its line-up and footprint

Insurance News

By Terry Gangcuangco

Insurtech eviid, or YRFree Technologies Ltd, has expanded both its workforce and reach after what it described as a “highly successful” fourth quarter.

Based in London and Liverpool, England, the young company, which already boasts clients in other markets, is growing beyond the UK with the opening of a sales office in the Netherlands. It has also beefed up its developer and support teams with six new hires since January.

Creator of secure technology for digitally recorded media, eviid enables the likes of insurers and claims management firms to use live and recorded smartphone videos in their claims processes. The software allows users to connect with workers in the field or assist customers in submitting video evidence.

In the past six months eviid has snapped up 11 new clients and major projects, not only in the UK but in the US, New Zealand, and Australia as well.

“We’re in the business of changing how organisations work, so when we started, it took to convince major companies to embrace our technology,” said eviid chief executive John Ridd. “However, we seem to have reached a point where many of our customers are already familiar with the idea of using video for areas like job reports, documentation, remote worker support, and customer service.”

According to Ridd, what makes eviid unique is how it facilitates video recording in “evidential quality,” which means clients know where and when footage was created and whether it has been tampered with.

“The insurance sector was among the early adopters of our technology and over the past few months, demand has really taken off,” he noted. “We were delighted to receive some additional funding from the Northern Powerhouse Investment Fund in August, which allowed us to scale up rapidly.

“We already have a couple of international clients but now will accelerate our growth in Europe from our new office in the Netherlands.”

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