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Simply Business - the trading name of Xbridge Ltd - is an online broker of business insurance with over 475,000 customers. The company has been featured in the Sunday Times Tech Track 100 four times and in 2015 and 2016 won The Sunday Times 100 Best Companies to Work For.

Simply Business
Private
IndustryInsurance
Founded2005
HeadquartersLondon, United Kingdom
Key people
David Summers (Group CEO)

Jason Stockwood (Vice Chairman) Bill Pena (USA CEO) Fiona McSwein (COS)

Alan Thomas (CCO) Lukas Oberhuber (CTO)
ProductsBusiness insurance, Shop insurance and Landlord insurance
Revenue£57 million (2017)
Number of employees
500
Websitewww.simplybusiness.co.uk www.simplybusiness.com

In March 2017 it was announced that The Travelers Companies led by Alan Schnitzer agreed to acquire Simply Business from Aquiline Capital Partners LLC for an enterprise value of approximately $490 million with a successful completion of the deal made in August 2017.[1]

Contents

HistoryEdit

Xbridge was founded in 2000 by Brad Liebmann, Ralph Arnold, Deno Fischer and Jim Nelson, who provided £1 million in seed capital. The company experimented with a variety of ventures, including building an online marketplace for insurance and lending to small businesses.

In 2005, under the founding guidance of Tony Deacon and Chris Slater and Arvinder Mangat, the company chose to specialise in small business insurance, launching an online quote comparison service under the Simply Business brand. In the same year, the company opened its customer care centre in Northampton.

Jason Stockwood, formerly UK and International Managing Director of match.com, joined the company as CEO in May 2010.[4]

In 2011, Simply Business signed a white label deal with moneysupermarket.com and became their exclusive provider for business insurance.[5] In the same year, the company adopted the Agile software development methodology.[6]

In August 2012, the company celebrated its 200,000th customer.[7]

 
The Simply Business London Office

In July 2013 it was announced that the company had completed a management buy-out backed by the private equity firm AnaCap Financial Partners LLP.[8]

In February 2015 Simply Business was voted first in The Sunday Times 100 Best Companies To Work For.[2]

Simply Business went on to win The Sunday Times 100 Best Companies To Work For 2016[3] with Jason Stockwood, Group CEO of Simply Business also scooping the award for the 'Best Leader' award at the ceremony.[4]

Jason Stockwood is known as the pioneer of an empowering leadership style and people-focused culture.[5]

The internal mission within Simply Business is to Create Something Better,[6] brought to life through internal Hackathons,[7] active charity engagement[8] and Build-Measure-Learn principles.

Simply Business were previously a sponsor of the Start-Up Awards.[9]

In December 2016, Simply Business USA[10] was launched with offices in Boston, Massachusetts.

In March 2017, The Travelers Companies entered into an agreement to purchase Simply Business for $490m. In August 2017 the deal was completed [11]

The Simply Business company values were updated as of April 2018: Learning, Empowerment, Authenticity, Pioneering, Simplicity.

ProductsEdit

The company provides insurance to the self employed, small businesses and landlords. Products include public liability insurance, professional indemnity insurance, employers' liability insurance and landlords insurance.

The insurers on the panel include Ageas, AIG, Arag, AXA, Churchill, Covea, Hiscox and Zurich.

Simply Business established its own managing general agent brands Finsbury, Maltings and Chiswell Insurance, which are underwritten by AXA and Great Lakes, a subsidiary of Munich Re

CharityEdit

In January 2016 Simply Business announced Whizz-Kidz as their official UK charity partner with a £150,000 3 year fundraising goal.[12]

Jason Stockwood, said: “We’re incredibly proud to announce our partnership with Whizz-Kidz. The work they do to provide young disabled people with the equipment necessary to provide not only comfort but also independence is so important. Over the next few years we’ll work with Whizz-Kidz in every way we can to hit our goal, and I know the entire Simply Business team is with me in saying we’re ready for the challenge, and excited to get plans underway.

 
Whizz-Kidz Charity Bike Ride 2016

This impressive fundraising milestone was reached 6 months early as of July 2018.[13]

Employees of Simply Business take part in year round fundraising efforts for Whizz-Kidz including 160 mile bike rides, 24 hour endurance races, internal events and the annual expedition which has seen teams trek across the Artic Circle, Sahara, French Alps and Costa Rica.

In June 2018 Simply Business employee James Gilmour, brother Fergus Gilmour and best friend Harry Fildes set a new Guinness World Record for the fastest time cycling on a triplet bike from Lands End to John O Groats in a time of 6 days 13.5 hours, raising over £5,000 for Whizz-Kidz in the process.[14]

In June 2017 Simply Business were B Corp accredited for maintaining the highest standards of social & environmental impact.[15]

In the same month Simply Business became headline sponsors of The England Amputee Football Association.[16]

 
The England Amputee Football Association

In October 2018 an Internal Hackathon and 48 hour PR campaign led to national press attention[17] for the EAFA and the promise of additional funding from the Football Association. In 2018 over £55,000 was raised for the EAFA by Simply Business.

A statement from the FA added: “The FA has invested more than £10m since 1999 to support elite disability squads and help achieve success at World Cups and European Championships.

“There exists a robust and transparent selection process against this significant investment to ensure informed decisions are made by The FA as to which specific disabilities can best deliver the development of a consistent talent pathway and greater participation at grassroots.

“Amputee football now meets the criteria and we will be furthering our work with this disability group at the elite end as we do with the grassroots.”

TechnologyEdit

Simply Business featured in the Sunday Times Tech Track 100 in 2008, 2009, 2010 and 2011 and has won numerous awards for their pioneering use of data and technology.[18] Simply Business hosts a thriving tech culture with weekly Show & Tell, Level Up and speaker sessions.

 
2018 Hackathon Winners

As of 2019 the Simply Business tech team are gearing up for a huge expansion and recruiting for numerous roles in the UK and USA.[1]

The Group Technology Officer for Simply Business is Lukas Oberhuber who was nominated for Tech Champion 2018 at the Insurance Times Tech & Innovation Awards 2018.[19]

The annual Hackathon has become a huge event for the company with teams from across the business getting together for 3 days to compete against each-other for the best project or build within the timeframe. The winner of the 2018 Hackathon was team Lifecard, a build for a NFC donation card to help homeless people.

In the 2017 purchase of Simply Business - Alan Schnitzer chairman and chief executive officer of The Travelers Companies.[1] said, “technology is driving significant change in our industry, and the knowledge, capabilities and talent that Simply Business has developed over more than a decade will contribute meaningfully to advancing our digital and innovation agendas to best serve our customers and the marketplace.”

CultureEdit

Simply Business won the Sunday Times Best Company To Work For 2015 & 2016 and maintains an outstanding people culture.

Examples of employee benefits include: Life assurance, equal pay, support for working parents, employer-matched pension, private medical insurance, cycle to work scheme, gym membership and dental insurance.

 
Alan Schnitzer London Visit

Simply Business host an annual company holiday and awards ceremony in which all employees are taken on vacation, in 2016 Brussels, 2017 Berlin, 2018 Barcelona.

In November 2016 Simply Business signed the Women In Finance Charter and a commitment to a key series of measures to show positive change.[20]

In March 2018 Simply Business hosted an evening with The Financial Times in London for networking and a series of panel discussions.

Simply Business host various internal events throughout the year including: Bring Your Child To Work Day, Wellbeing Week, Values Day, #SBWALLS art project, B Corp Month, Technology Hackathons, Company Awards and Christmas Children's Grotto.

In 2018 Simply Business was featured as a case study by Google in the #IamRemarkable program for empowering women and underrepresented groups to celebrate their achievements in the workplace and beyond.

AwardsEdit

  • Winner of Best Insurance Provider - On The Tools Awards 2018[21]
  • Winner of Financial Services Partnership Of The Year at the Business Charity Awards 2018[22]
  • Highly Commended for Outstanding Customer Journey at the UK Customer Service Excellence Awards 2018[23]
  • Winner Best Rebrand of a Digital Property at the Transform Awards Europe 2018[24]
  • Winner Financial Services Partnership Of The Year at the Business Charity Awards 2018[25]
  • Winner Feefo Trusted Service Award 2018[26]
  • Winner of Insurance Provider of the Year at the British Small Business Awards 2017[27]
  • Winner of the Ruban d’Honneur in the European Business Awards 2017.[28]
  • Winner of The Sunday Times Best Companies To Work For 2016.[3]
  • Winner of 'Best Leader' Jason Stockwood CEO at The Sunday Times Best Companies To Work For 2016.[4]
  • National Champion at the European Business Awards 2016.[29]
  • Winner of Finance Team of the Year at the Business Finance Awards 2016.[30]
  • Winner of Data Champions of the Year at the Insurance Marketing & PR Awards 2016.[31]
  • Winner of Team of the Year at the National Quality & Customer Experience Awards 2016.[32]
  • Winner of The Sunday Times Best Companies To Work For 2015.[2]
  • Simply Business featured in the Sunday Times Tech Track 100 in 2008, 2009, 2010 and 2011.[18]
  • Winner of 'Best use of Mobile Technology' at the Technology in Insurance Awards 2012.[33]
  • Commended for 'Best use of Social Media' at the Technology in Insurance Awards 2012.[33]
  • Commended for 'Outstanding Broker Claims Team of the Year' at the Insurance Times UK Claims Excellence Awards 2012.[34]
  • Winner of 'Marketing Campaign of the Year' at the UK Broker Awards 2012.[35]
  • Winner of 'Most Agile Aware Organisation' at the UK Agile Awards 2011.[36]
  • Winner of 'Young Broker of the Year' at the UK Broker Awards 2011[37]

ReferencesEdit

  1. ^ a b "Travelers Completes Acquisition of UK-Based Simply Business". Retrieved 2017-08-09.
  2. ^ a b "Sunday Times Best Companies To Work For 2015". Sunday Times. Retrieved 2015-02-27.
  3. ^ a b "The Sunday Times 100 Best Companies". Global Senior Executive Jobs | The Times & The Sunday Times. Retrieved 2017-02-08.
  4. ^ a b "Insurance innovator breaks the mould with happiest workforce in the UK". Retrieved 2017-02-07.
  5. ^ "People-focused CEOs: Jason Stockwood". hrmagazine.co.uk. Retrieved 2017-02-08.
  6. ^ "Business insurance - Compare quotes - Simply Business". www.simplybusiness.co.uk. Retrieved 2017-02-08.
  7. ^ Simply Business (2016-06-16), #HackSomethingBetter - Create Something Better, retrieved 2017-02-08
  8. ^ "Simply Business names Whizz Kidz as official charity partner". Retrieved 2017-02-08.
  9. ^ "Home - Startups Awards by Startups.co.uk: Start up a successful business". Startups Awards by Startups.co.uk: Start up a successful business. Retrieved 2017-02-08.
  10. ^ "Simply Business". www.simplybusiness.com. Retrieved 2017-02-07.
  11. ^ https://www.ft.com/content/d721f5fe-07fe-11e7-ac5a-903b21361b43
  12. ^ "Whizz Kidz press release".
  13. ^ "Instagram photo link".
  14. ^ "Instagram photo link".
  15. ^ "B Corp press release".
  16. ^ "England Amputee Football Association Website".
  17. ^ "Guardian article".
  18. ^ a b "Sunday Times Tech Track". Fast Track. Retrieved 2012-09-17.
  19. ^ "Lukas Linkedin".
  20. ^ "women in finance page".
  21. ^ "On The Tools Awards".
  22. ^ "Business Charity Awards 2018".
  23. ^ "UK Customer Service Excellence Awards 2018".
  24. ^ "Transform Europe Awards 2018".
  25. ^ "Business Charity Awards 2018".
  26. ^ "Feefo award site".
  27. ^ "Winners list of awards".
  28. ^ "The European Business Awards". www.businessawardseurope.com. Retrieved 2017-02-08.
  29. ^ "The European Business Awards". www.businessawardseurope.com. Retrieved 2017-02-07.
  30. ^ "Business Finance Awards 2016: The Winners | Financial Director". www.financialdirector.co.uk. Retrieved 2017-02-16.
  31. ^ "Winners - Insurance Marketing and PR Awards and Conference". www.insurancemarketingawardsconf.co.uk. Retrieved 2017-02-07.
  32. ^ "National Quality & Customer Experience Awards". Quality & Customer Experience. Retrieved 2017-02-07.
  33. ^ a b "Technology in Insurance Awards 2012". Insurance Times. Retrieved 2013-03-23.
  34. ^ "UK Claims Excellence Awards". Insurance Times. Retrieved 2013-03-23.
  35. ^ "Winners of the UK Broker Awards 2012". UK Broker Awards. Retrieved 2012-09-17.
  36. ^ "This year's winners". UK Agile Awards. Retrieved 2012-09-17.
  37. ^ "2011 Winners". UK Broker Awards. Retrieved 2013-03-23.

External linksEdit