Protection comparison service and broker ActiveQuote is rapidly expanding operations and creating 74 new jobs with Welsh government support.
Protection comparion service and broker ActiveQuote is rapidly expanding operations and creating 74 new jobs with Welsh government support.
The Welsh government is providing £600,000 of business finance to support the creation of new jobs and ensure that the expansion goes ahead in Wales rather than overseas.
The Cardiff Bay business has recently won four significant contracts to operate health insurance and protection insurance comparison sites on behalf of Confused.com, GoCompare, Money.co.uk and uSwitch.
ActiveQuote has developed software to provide online price comparisons for these specialist insurance products and uses its own technology platform to deliver the services on behalf of some of the UK's largest aggregators.
Edwina Hart, econony minister for the Welsh government said: "This is an exciting project creating a range of skilled jobs in a business that underpins one of Wales' most high profile sub-sectors - price comparison sites. Wales has established an excellent reputation as a great location for aggregator sites and is home to a number of the UK's leading sites."
ActiveQuote said it pioneered the first full comparison solution for health insurance providing comparisons of policies and benefits designed to help people find the cover that most closely meets their needs, rather than just the cheapest.
In 2012, the company expanded its products to include income protection and life insurance. These helped to increase turnover by 410% between 2011 and 2013.
Dr Richard Theo, founder and managing director of ActiveQuote said: "The innovative application of technology to develop the best health and protection insurance comparison is the key to our success. We have successfully
"We intend to build on this expertise and develop new online propositions in the area of Online Savings and Investments which will be launched under a new brand in 2015."
