Policy Expert is set to significantly expand its footprint at Maxim Park in Motherwell, relocating to a new 22,000 sq ft office within the park by summer this year.
The insurer, which is currently based at Maxim 3, will move its UK motor team to the larger premises at Maxim 10 as part of the transition.
The expansion follows recent developments within Policy Expert’s portfolio, including the launch of its pet insurance product. This new office will house teams handling motor and pet insurance claims.
Workplace Creations Ltd is managing the design and fit-out of the space. The plan includes workplace features aimed at improving operational workflows, along with amenities such as a games area, a chill-out space, and tiered seating.
Linda Crichton (pictured above), chief service and operations officer at Policy Expert, said the office move follows a year of growth. In the past year, Policy Expert has reported substantial financial gains, with a 36% rise in revenue to £218.4 million and a jump in profit before tax to £30.1 million, up from £4.9 million. Its customer base grew by 8 % to reach 1.6 million.
The company’s motor line also saw increased activity, with gross written premiums growing 14% to £122 million.
“As we expand, it's important our work environment evolves with us. The new office enhances our ability to work collaboratively, with a modern feel and breakout and wellbeing facilities, as well as cutting-edge technology to enable our teams to provide top-tier customer service,” Crichton said.
Meanwhile, Policy Expert’s ownership structure evolved when private equity firm Cinven acquired a 50% stake in the business. The remaining stake continues to be held by existing backer Platinum Ivy.
The company also made structural changes to its leadership earlier in 2024, introducing seven new executive roles to support its growth strategy. These included positions such as chief customer officer, chief pricing officer, and chief compliance officer.
Maxim Park’s director of park services, Caroline Baillie, said the company’s long-term presence is expected to continue for at least another decade.
“Policy Expert has been a huge part of the Maxim Park community for several years already, so it’s wonderful to see the team’s commitment to creating job opportunities here for at least another decade,” Baillie said.
What are your thoughts on this story? Please feel free to share your comments below.
