Percayso Inform boosted with £2.7M second investment

The major investment was led by industry veteran Neil Utley

Percayso Inform boosted with £2.7M second investment

Insurance News

By Kenneth Araullo

Insurance data provider Percayso Inform has completed a second major investment for its business by securing a £2.7 million fundraise, led by industry veteran Neil Utley and the firm’s venture capital investor, Praetura Ventures.

Following the earlier investment made by Praetura Ventures last year, Percaysos has extended its proposition to deliver a full quote intelligence suite with data aggregated from many different sources, allowing intelligence to be accessed with a simple API call and at significant volume. The firm’s client base now includes 65, including Ageas, Covea, Direct Line, Markerstudy, Somerset Bridge, The AA, and more.

Earlier this year, Percayso also announced its acquisition of Cazana – now named Percayso Vehicle Intelligence – to secure a better foothold across the UK motor insurance market.

According to a news release, Utley was chairman at Hastings, best known for leading the management buyout from Insurance Australia Group in 2009, as well as leading the insurer through its IPO in 2015. He also held CEO roles with Privilege Insurance and Cox Insurance Group.

Percayso managing director Rich Tomlinson welcomed Utley as an investor, saying that his motor insurance market expertise will be invaluable for the firm’s ambitions for Percayso Vehicle Intelligence.

“As we look ahead, we believe that Percayso Inform will play a key role in helping insurance providers of all shapes and sizes to get more out of the wealth of data available to enable them to write better business. The combined skills and experience that Neil and Praetura Ventures bring to our business will undoubtedly help us to accelerate our growth plans,” Tomlinson said.

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