Member Article

Simply Business recognised for its sustainable practices as it looks to scale in US

UK insurance provider, Simply Business, has become the latest company to be awarded a B Corp certification in recognition for its ethical and sustainable operations.

The London-headquartered firm has become part of the global ‘B Corporation’ network spanning over 50 countries, which certifies businesses based on their accountability, transparency and social and environmental impact.

For Simply Business, the certification has been awarded specifically for its ‘supportive and innovative’ workplace culture, its charity partnerships and its promotion of employee volunteering amongst others.

Its positive work in employee engagement and remuneration has also previously been recognised by The Sunday Times in their ‘Best Company to Work For’ list, where it took home the top accolade two years running.

Jason Stockwood, Chief Executive Officer at Simply Business claimed that a corporate capacity for good had been at the heart of the business since its foundation in 2005, and that he hopes to build on this work as it looks to scale in the US.

He commented: “We’ve always felt that business should be a force for good in the wider world, and that customers, employees, and the society and environment should be key considerations in every decision.

“Becoming a Certified B Corporation is the perfect way to continue the work we’ve been doing over the last few years. As we scale an international business, it also gives us the framework to build on our ambition to create something better for our people, society, and environment.”

The insurer was acquired by US insurance company Travelers earlier this year in a deal that valued the company at $490m, it currently employs over 400 staff and is now embarking on an ambitious US expansion drive with plans to hire over 200 people in Boston by the end of 2018.

James Perry, Co-Founder and Co-Chair, B Lab UK, heralded Simply Business as one of the UK’s most promising scaleups, and said that the firm was at the forefront of tech innovation in the financial services sphere.

He said: “Simply Business is one of the UK’s most exciting fast-growth businesses, and has shown that financial services in the UK are entering a new era with the support of innovative tech infrastructure and digitally-driven online self-service.

“Its certification as a B Corp recognises its pioneering approach and core values that echo those of B Lab.”