ActiveQuote is an online insurance broker and comparison service, created in 2008 by Managing Director, Dr Richard Theo, who spotted an opportunity for a service that can quickly and easily compare health insurance policies online. His proprietary software helped pave the way for complex health and protection insurance products to appear in online comparison platforms. ActiveQuote also became a leader in design, creating the first column-based insurance comparison service to focus search results on benefits rather than price, and the first comparison site to enable real-time tailoring of quotes on-screen.
Six years on, ActiveQuote now helps over 10,000 customers a year to find the right health and protection insurance, giving them peace of mind that they’ll be covered should the worst happen.
The speed and quality of user experience that the software provides has allowed ActiveQuote to build strong partnerships with a number of leading UK insurers, including Aviva, LV=, Legal & General, AXA and BUPA. Crucially the software is also the power behind the health and protection insurance comparison engines of some of the UK’s best-known aggregator sites, such as Gocompare, Confused.com, uSwitch and Money.co.uk.
These relationships have allowed the business to grow rapidly; by over 1,000% in four years since 2011, from £495,000 turnover and 20 employees, to over 120 staff and £5.6 million turnover in 2015.
ActiveQuote’s success has already attracted a number of accolades, including being named the Fastest Growing Firm in Cardiff, the 6th Fastest Growing Firm in Wales at the Fast Growth 50 Awards in 2014 and Most Promising Growth Business by the South Wales Chamber of Commerce in the same year. In 2015, the company achieved the rare feat of featuring in the Fast Growth 50 in consecutive years. Dr Richard Theo was named Entrepreneur of the Year at the 2015 Cardiff Business Awards and Technology Entrepreneur of the Year at the 2015 Wales Entrepreneur Awards. Their most recent accolade, The Queen’s Award for Enterprise in Innovation is, in the words of Dr Theo, the “most prestigious decoration to date,” and their “finest hour.”