UK-chartered insurance broker Konsileo has raised £5 million in equity funding. The investment was led by long-term shareholders Committed Capital and ACF Investors.
Launched in 2017, Konsileo is a technology-enabled commercial insurance broker providing insurance and risk management services to businesses across the UK. The company employs more than 220 people and arranges more than £85 million in annual insurance premiums.
Technology sits at the centre of Konsileo’s broking model. The company has developed its own end-to-end platform to automate administrative tasks, embed compliance checks and improve the quality of risk information captured by brokers. Konsileo says the platform reduces process effort by half, allowing brokers to spend more time working with clients.
Its technology also includes Riskube, an online insurance and risk management system that allows clients to access policies, update details and view communications with their brokers in one place. The company is continuing to develop its technology stack, including integrating AI into workflows to streamline processes and support its nationwide network of brokers.
Alongside its technology, Konsileo has built its operating model around giving brokers greater autonomy and allowing them to focus on client relationships. Its flat organisational structure replaces traditional management with coaching, while its reward system recognises the value brokers create through their client relationships. The company also provides training through the Konsileo Academy.
John Warburton, co-founder and CEO of Konsileo, said the company’s approach is based on giving brokers autonomy, equipping them with the right tools and supporting rather than managing them.
Our growth is a testament to what happens when you offer something genuinely different to ambitious brokers who want to build brilliant client relationships. This investment means we can keep attracting great people, investing in our platform and building on the momentum we’ve created as we approach our tenth anniversary.
Konsileo plans to use the investment to further develop its broking platform and attract new talent.
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