Partner Article

Insurer to bring 150 new jobs

AROUND 150 jobs will be created in the region over the next three years by the birth of a new insurer that plans to become a major player in the UK motor insurance market.

insurethebox is to make Quorum Business Park in North Tyneside the base for its new service centre.

After months of talks with Tyne and Wear Development Company, North Tyneside Council and One North East - and the approval of a £249,000 grant sourced from European funding - the Quorum site was chosen as the most suitable location from which to begin its ambitious growth plan.

Joint chief executive Mike Brockman said: “The motor insurance market is huge. It’s expected to be worth £13bn by 2013 and we’re well placed to win a key share of that by offering a product simply not available at present.

“We’re targeting young drivers and their parents, who often pay their cover, and low mileage drivers. Our technology ensures they are charged directly for miles driven and are rewarded for good driving which is a fresh approach to insurance. The end result should be cheaper premiums.”

Tyne and Wear Development Company, North Tyneside Council and One North East helped to assist the investment, acting as a point of support for insurethebox from the beginning of the project through to its completion.

Meanwhile, One North East awarded the company a £249,000 grant for business to aid its move into the region.

This was posted in Bdaily's Members' News section by Ruth Mitchell .