If you are thinking about relocating, North Tyneside offers outstanding opportunities for business development and a top-quality lifestyle – the area boasts the UK’s largest and most successful office park, two Enterprise Zones and superb transport links.

Insure the box

Information

Insure the boxIn 2010, a car insurance firm signed the lease for offices as it pursued ambitions to create 700 jobs in North Tyneside.

 

Gibraltar-based insurethebox opened its operation at the Quorum Business Park in North Tyneside with fewer than 20 staff, but now employs around 200 people on the park.

 

After moving to a 27,000 sq ft site having previously leased a 6,000 sq ft office on Quorum, it is now fulfilling its plans to increase its existing workforce.

 

Insurethebox, which was launched in 2010 by two insurance industry leaders, saw its premium income rise from £8m in its first year to £60m last year and forecasts revenues of £100m this year. It currently has 55,000 policyholders.

 

Quorum development director Fergus Trim said: “We are delighted that insurethebox continues to grow and invest at Quorum.

 

“They have a great business model built on new technology and an innovative customer proposition. This is delivering real growth and creating very welcome new jobs here in the North East.

 

“It is testament to the strength of the skilled workforce and advantageous cost of doing business here in Newcastle that fast growth companies such as insurethebox are committing to the region.”

 

Insurethebox is the biggest seller of insurance using telemetrics, which puts technology in each customer’s car to measure their speed, braking and the distance driven each day.

 

It uses the information to record how safely its customers drive and adjusts their insurance premiums accordingly.

 

Telemetrics are becoming increasingly popular, particularly with young drivers who are traditionally charged heavily for insurance, as well as with low mileage-drivers and organisations that encourage safe driving.

 

The firm has sold over 100,000 policies whilst winning more than 6,000 new customers each month.

 

Jason Tipton, head of operations at the firm, said: “Quorum Business Park has given us great support ever since we opened here in 2010.”

 

www.insurethebox.com

 

To find out more about how to deliver growth and jobs in North Tyneside, contact us on 0191 643 6409 or email business@northtyneside.gov.uk

Case studies: